Second Sight (EYES) +1100% continues its rally for the fourth day after FDA approval

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Second Sight Medical Products (NASDAQ: EYES) shares continue to soar and are now up 1,100% in just three days. The stock is now traded at $16.80 after touching the $18.70 area and after being traded at $1.51 on Friday.

On Friday the Food and Drug Administration approved the company’s Argus 2s Retinal Prosthesis System for the treatment of retinitis pigmentosa (RP). The system is a redesigned set of external hardware (glasses and video processing unit) initially for use in combination with previously implanted Argus II systems. The company is expecting the Argus 2s to be adapted as the next-generation system for its Orion Visual Cortical Prosthesis System that is currently under development.  The stock scored a record of 305% on a volume of 739.7 million shares only on Friday after the news.

Summary

  • Second Sight Medical Products (NASDAQ: EYES) is now up 1100% after the Friday announcement of its FDA approved Argus II Retinal Prosthesis System.
  • The stock continues its rally today in the pre-market hours for the fourth day in a row and is now traded at $16.80 from $1.51 on Friday.
  • The device provides artificial vision in people with late-stage retinitis pigmentosa and is therefore improving patients with blindness.
  • We at FDGT have been scalping the stock successfully for the last few days.

 

About Second Sight Medical Products Inc.

The California-based company was founded in 1998 to develop and market implantable visual prosthetics and neurostimulation technologies to enhance the lives of blind individuals. Second Sight is a recognized global leader in developing devices for the treatment of blindness and it is the first company to create an FDA and CE Mark-approved device for providing artificial vision in people with late stage RP.

About the Argus II Retinal Prosthesis System

Retinitis pigmentosa is an eye disorder that can lead to night blindness and ultimately to blindness. The Argus II Retinal Prosthesis System allows people to receive light and improve orientation. The implant used to treat blindness caused by RP has two parts, the out part which is the camera and the actual implant. This implant stimulates the retinal cells with pulses of electricity and the pulses depend on the images captured by the camera. For instance, the camera captures an image patient’s amends to see and then the small portable computer converts this into electric pulses, and it is therefore transmitted to the implant to the eye. The implant receives this message and then sends the pulses to the electrodes implanted on the surface of the retina that stimulate the remaining retina cells to transmit this information to the brain.

This light or image is changing when something moves. In order for the Argus to work at its greatest capacity, patients need to first practice the synchronization of moving their eye position along with their head. This is called the rehabilitation process that once completed the patient starts a 40-hour orientation and mobility training.

The Argus II is implemented with a surgery that takes few hours and is performed by a retinal surgeon with Second Sight technicians available for support.  Once implanted, the Argus II implant sits in and around the back of the eye and is not visible to others. To be successful it is then accompanied by the external accessories described above that include glasses with a built-in camera and a small portable processing unit that together capture and process video signals to be sent to the implant.

About the Orion Visual Cortical Prosthesis System

Leveraging Second Sight’s 20 years of experience in neuromodulation for vision, the Orion Visual Cortical Prosthesis System (Orion) is an implanted cortical stimulation device intended to provide useful artificial vision to individuals who are blind. This blindness might be due to a wide range of causes, including glaucoma, diabetic retinopathy, optic nerve injury or disease, and eye injury. 

Orion is intended to convert images captured by a miniature video camera mounted on glasses into a series of small electrical pulses. The device is designed to bypass diseased or injured eye anatomy and to transmit these electrical pulses wirelessly to an array of electrodes implanted on the surface of the brain’s visual cortex, where it is intended to provide the perception of patterns of light. A six-subject early feasibility study of the Orion is currently underway at the Ronald Reagan UCLA Medical Center in Los Angeles and the Baylor College of Medicine in Houston.

Disclaimer – I/we have no position in any stock mentioned. I wrote this article myself, and it expresses my personal opinions. I am not receiving any compensation for it, other than FDGT Academy. I do not have or had in the past any business relationship with any company that is mentioned in the above article.

Natalia C. - Junior Analyst at FDGT Academy

Natalia C. - Junior Analyst at FDGT Academy

I am a stock analyst/investor with prior experience and knowledge to BSc Accounting and Finance. After completing my degree and exposure to the accounting firms I decided that the direction I should choose is towards the Investment world. I completed my masters in Investment Management where it gave me solid fundamentals to build my career on. I have examined a lot of different aspects of investment, from REITS, derivatives, currencies, bonds, equity and hedge funds. I never stopped learning about the market which is why I can analyze and write articles for FDGT community always personally opinionated. My passion are green energy and electric vehicles stocks as a whole. I also had my share of analyzing the work form home stocks that are coming to take over in the upcoming years.