Ocular Medical Device Firm Sight Sciences Sets Terms For $150M IPO

Ophthalmic device developer Sight Sciences SGHT hopes to see its way to nearly a $1 billion valuation through a $150 million Nasdaq debut.
The IPO includes 7 million shares under the ticker symbol SGHT at a price ranging from $20 to $23.
The company's portfolio includes the Omni Surgical System, a hand-held, single-use device used to help drain fluids from the eye and reduce intraocular pressure in patients with glaucoma.
Its nonsurgical device, the TearCare system, is worn over the eyelid to apply localized heat to treat dry eye and gland dysfunction.
And despite the COVID-19 pandemic, last year saw positive sales growth compared to the 2019 calendar year, with revenues of $27.6 million over $23.3 million, respectively.
By going public, the company hopes to fund ongoing and future clinical trials for both its marketed systems and other R&D and commercial efforts, according to a prospectus filed with the SEC.
According to the prospectus, sight counted more than 100 on its direct sales, marketing, and support staff.