Eyes Stock Price: Second Sight Medical shares surge again on Friday
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UPGRADE- EYES take a Friday feeling into the weekend.
- EYES shares jump 35% on Friday near $16.
- EYES shares have been a strong performer after FDA approval.
Second Sight Medical is a medical device company specializing in helping create prosthetic devices to help restore vision to blind people. From the company's own website it states "A deeply purpose-driven company from the start, Second Sight has its roots in a forward-looking partnership between retinitis pigmentosa sufferer Dr. Sam Williams and pioneering medical philanthropist Dr. Alfred Mann. In 1998, the partnership expanded to include Dr. Robert Greenberg, Aaron Mendelsohn and Gunnar Bjorg, with the team working tirelessly to bring Second Sight’s vision-restoring innovation to fruition. In 2011, Second Sight achieved the first-ever regulatory approval for a technology able to restore useful vision to people with retinitis pigmentosa. FDA approval followed in 2013".
The Argus 2 is a tiny implant that goes in behind the eye and is then combined with patient-worn camera glasses to help provide a form of vision the patient otherwise would not have.
The current market cap of EYES is $352 million.
EYES Stock news
So on Friday, March 5, the shares rocketed on the back of this press release "Second Sight Medical Products (NASDAQ:EYES) a leading developer and marketer of implantable visual prosthetics that are intended to create an artificial form of useful vision for blind individuals, today announced U.S. Food and Drug Administration (FDA) has approved the Argus 2s Retinal Prosthesis System, a redesigned set of external hardware (glasses and video processing unit) initially for use in combination with previously implanted Argus II systems for the treatment of retinitis pigmentosa (RP). The Company expects that the Argus 2s will be adapted to be the external system for the next generation Orion Visual Cortical Prosthesis System currently under development."
FDA approval is obviously the goal of any medical device company and the market took the news well sending the shares sharply higher. Extreme moves are now almost the norm in any smaller cap name with positive news once it captures the attention of the retail community. EYES shares have been no exception. Having jumped 304% on Friday, March 5, EYES shares have since managed to add a further 100% plus gains to their share price. While the news is impressive in achieving FDA approval the share price appreciation has been more than impressive!
EYES shares price trended heavily on the social media site Stocktwits according to a report by Reuters.
The value investor in me thinks this is too fast, too furious but then the value investor in most hasn't been doing too well lately. So if you want to be a momentum player, by all means go ahead just risk what you can afford to lose and scale in and out, and use trailing stops to protect profits and minimize losses.
EYES is due to report Q4 2020 results on March 18 but this is not confirmed.
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Errors and omissions excepted.
- EYES take a Friday feeling into the weekend.
- EYES shares jump 35% on Friday near $16.
- EYES shares have been a strong performer after FDA approval.
Second Sight Medical is a medical device company specializing in helping create prosthetic devices to help restore vision to blind people. From the company's own website it states "A deeply purpose-driven company from the start, Second Sight has its roots in a forward-looking partnership between retinitis pigmentosa sufferer Dr. Sam Williams and pioneering medical philanthropist Dr. Alfred Mann. In 1998, the partnership expanded to include Dr. Robert Greenberg, Aaron Mendelsohn and Gunnar Bjorg, with the team working tirelessly to bring Second Sight’s vision-restoring innovation to fruition. In 2011, Second Sight achieved the first-ever regulatory approval for a technology able to restore useful vision to people with retinitis pigmentosa. FDA approval followed in 2013".
The Argus 2 is a tiny implant that goes in behind the eye and is then combined with patient-worn camera glasses to help provide a form of vision the patient otherwise would not have.
The current market cap of EYES is $352 million.
EYES Stock news
So on Friday, March 5, the shares rocketed on the back of this press release "Second Sight Medical Products (NASDAQ:EYES) a leading developer and marketer of implantable visual prosthetics that are intended to create an artificial form of useful vision for blind individuals, today announced U.S. Food and Drug Administration (FDA) has approved the Argus 2s Retinal Prosthesis System, a redesigned set of external hardware (glasses and video processing unit) initially for use in combination with previously implanted Argus II systems for the treatment of retinitis pigmentosa (RP). The Company expects that the Argus 2s will be adapted to be the external system for the next generation Orion Visual Cortical Prosthesis System currently under development."
FDA approval is obviously the goal of any medical device company and the market took the news well sending the shares sharply higher. Extreme moves are now almost the norm in any smaller cap name with positive news once it captures the attention of the retail community. EYES shares have been no exception. Having jumped 304% on Friday, March 5, EYES shares have since managed to add a further 100% plus gains to their share price. While the news is impressive in achieving FDA approval the share price appreciation has been more than impressive!
EYES shares price trended heavily on the social media site Stocktwits according to a report by Reuters.
The value investor in me thinks this is too fast, too furious but then the value investor in most hasn't been doing too well lately. So if you want to be a momentum player, by all means go ahead just risk what you can afford to lose and scale in and out, and use trailing stops to protect profits and minimize losses.
EYES is due to report Q4 2020 results on March 18 but this is not confirmed.
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Errors and omissions excepted.
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