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Wednesday, June 23, 2021

What’s Behind The Crazy Spike in Second Sight Medical Products Inc. (EYES) Stock?

In the past three days, Second Sight Medical Products Inc. (EYES) stock has skyrocketed almost 1000%. On Friday, 5th of March, the Food and Drug Administration (FDA) approved their Argus 2s Retinal Prosthesis System for treating retinitis pigmentosa (RP), and ever since then, EYES stocks have been soaring.


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Recent Developments

Second Sight Medical Products, Inc., a company that manufactures and sells products that helps provide the blind individuals with artificial vision, announced on Friday that they were given approval by the FDA for their Argus 2s Retinal Prosthesis System for treating retinitis pigmentosa. On the same day, EYES stock soared up by almost 300% and closing at as high as $5.79. The stock continued to increase and after 3 days, has increased by almost 1000%.

The Argus 2 has much more to offer than its predecessor.

The Argus 2s helps provide the patient an artificial vision, which otherwise would not have been possible. It is a small implant that goes behind the eye of the patient and the combines with the glasses camera. In addition to providing artificial vision to the visually impaired, the Argus 2 offers high processing power which can allow for a potential improvement in video processing. The new system also offers to provide additional ergonomic improvements. The company is yet to decide on how to proceed with the Argus 2s.


Any medical company aims to seek the approval of FDA and it is considered a big step in the right direction. For Second Sight Medical Products, the approval of FDA for Argus 2s proved to be a blessing as their 3-day gain tallied up to a total of an astonishing 975.5%, nearing 1000% in such a short span of time. In comparison to the last three months, the stock value has advanced by $13.99. Second Sight Medical Products, Inc.’s last quarter earnings were $0.15 and are expected to report the earnings of this quarter on Thursday, March 18th.

Conclusion

To sum up everything that has been stated so far, the past few days have been going really well for the EYES stock after the Food and Drug Administration approved their Argus 2s Retinal Prosthesis System for treating retinitis pigmentosa. Recently, the EYES stock price has been surging. The company said that they are working towards the development of Orion Visual Cortical Prosthesis System which will further advance the treatment of retinitis pigmentosa.

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