Eyes Stock Price: Second Sight Medical shares surge again on Friday

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.

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