Second Sight Reports 16 Argus II Implants in Q1-2018

May 11, 2018: By Jon Swedien

Second SightSecond Sight announced May 10 that surgeons implanted 16 Argus II Retinal Prosthesis Systems worldwide in Q1-2018, up from 14 implants during Q1-2017.

Net sales for the quarter totaled $1 million, Second Sight reported.

The Sylmar, California, company also reported that it completed a $10 million private placement on May 3 of 6.75 million shares of common stock priced at $1.48—the closing price on that date—with entities beneficially owned by Gregg Williams, Second Sight’s board chair.

Second Sight appointed Williams board chair in April.

The funding is expected to give Second Sight the financing its needs to achieve key commercial and developmental milestones for its Argus II and Orion programs, the company said.

The Argus II converts images captured by a miniature video camera mounted on a patient’s glasses into a series of small electrical pulses. It is designed to induce visual perception in individuals with severe to profound retinitis pigmentosa.

The Orion Cortical Visual Prosthesis System works similarly to the Argus II, though it is implanted on the surface of the visual cortex.

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