SmallCap Second Sight Medical
Ten days ago, Second Sight Medical ($EYES) traded at its lowest point since it IPO’d in November 2014 at $8 per share, and after positive results for their retina implant technology in Italian tests, shares were trading at $18 and hit highs near $20.
The concept of retina implants still seems like science fiction to many, and obviously outside stringent FDA rules in the US (hence the Italy testing). But it still surprises me that experts didn’t see this coming, as shares pulled an “about face” and are up 30% in morning trading.
Second Sight Medical Products is described as a medical device company that develops, manufactures, and markets implantable prosthetic devices to restore functional vision to blind patients. The company provides the Argus II system, an implantable neurostimulation device for the treatment of outer retinal degenerations, such as retinitis pigmentosa. It has operations in North America, Europe, and the Middle East. The company is headquartered in Sylmar, California.
“We are thrilled to see the expanded availability of Argus II in Italy,” stated Dr. Robert Greenberg, Chief Executive Officer of Second Sight. “By offering Argus II in Italy, we are able to provide patients with outer retinal degeneration the chance to lead more independent lives, which can be life changing for these patients.”
Eyes Turn to Potential Profits
The real work comes ahead for Second Sight as this SmallCap company (MarketCap is around $700M) must now execute these implants and produce revenue for shareholders if they're to maintain this price level. The next few quarters will be key for the management team, and I will be listening to upcoming conference calls.
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