What’s Going on with Second Sight Medical Products?
Second Sight Medical Products (EYES) announced today, August 11, that the developer of implantable visual prosthetics has been awarded a grant supplement from the National Institutes of Health (NIH) to fund a study collecting insights into how blind people analyze the benefits and risks of visual neuroprostheses. During extended-hours trading this morning, EYES shares increased 2.36%, to $3.90 a share.
What Does This Mean for EYES?
The study, funded by the National Institutes of Health, will help Second Sight Medical Products “better understand acceptable risks, necessary benefits, and appropriate risk/benefit balance for visual cortical prostheses, from the perspective of the target population,” according to a company press release. The study is related to the firm’s Orion Visual Cortical Prosthesis System (Orion), which is an implanted cortical stimulation device designed to provide sight to people who are blind (for a variety of reasons).
The $155,964 grant will be given to UCLA, which will act as a subcontractor to conduct the study. “The grant supplement is related to the $6.4 million NIH grant for the Early Feasibility Clinical Trial of a Visual Cortical Prosthesis” stemming from promising Orion trial data reported by Second Sight in May, 2021.
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Second Sight Medical Products Inc develops, manufactures, and markets implantable prosthetic devices to create an artificial form of useful vision for blind individuals. The company's product Argus II System treats outer retinal degenerations, such as Retinitis Pigmentosa, often referred to as RP. The company generates revenue from the sale of its Argus II retinal prosthesis systems, which include the implant and external components. Geographically, the company operates in the United States, Italy, China, and of which key revenue is derived from the United States.
