Second Sight Medical Products Inc (EYES) stock gained 5.73% on Friday, April 9, 2021.EYES shares have gained 853.41% over the last 12 months, and they have surged 10.06% in the past week. Over the past three months, the stock has gained 406.29%, while over the past six months, it has added 884.34%. as of this writing, it has lost 2.37% in Monday’s pre-market session.
Let’s have a brief look at its latest developments
New board members
On April 6, Second Sight Medical Products added two new members to its board, Dr Dean Baker and Ms. Alexandra Larson. Dr. Baker has also been appointed to the Audit Committee of the Board.
New CEO appointment
On April 1, 2021, Second Sight Medical products announced that Scott Dunbar will be the new acting Chief Executive officer, replacing Matthew Pfeffer as he can’t continue for more than one year as an acting CEO according to Nasdaq rules. Mr. Pfeffer will keep working as an independent director.
Closing Private Placement of Common Stock
On March 27, 2021, Second Sight Medical Products announced the closing of its previously announced private placement. EYES stock will get gross proceeds of $27.9 million from the private placement which will be used for working capital for EYES stock
Argus 2s Retinal Prosthesis System approval
On March 5, 2021, Second Sight Medical Products announced the approval of the Argus 2s Retinal Prosthesis System by the U.S. Food and Drug Administration (FDA).
Argus 2s Retinal Prosthesis System is a redesigned set of external hardware used for the treatment of retinitis pigmentosa and EYES stock expects that it will be adapted to be the external system for the next generation Orion Visual Cortical Prosthesis System currently under development.
Conclusion: we saw a massive spike in EYES share price after FDA approval of Argus 2s in March 2021 and we can expect that EYES stock will remain in a positive zone in the coming days.
About the company
Second Sight Medical Products was founded in 1998 and its headquarter is in California, United States. EYES stock develops and markets implantable visual prosthetics that are intended to deliver the useful artificial vision to blind individuals.