Second Sight Medical Products, Inc. (EYES) stock announced two-year results of its Orion Study after which the EYES stock price happened to be green today on May 12, 2021, and saw a surge of 8.40% to reach $5.42 a share as of this writing. EYES stock was gloomy during the previous trading session and went down by 3.10% at closing. Let’s discuss the recent news in detail.
Orion Study Results:
Orion Visual Cortical Prosthesis (Orion) is the feasibility study of an implanted cortical stimulation device that is created for blind individuals in order to provide them useful artificial vision.
The study took place at UCLA and Baylor College of Medicine and the results showed that most of the participants involved in it benefited from the Orion Visual Cortical Prosthesis system. Five out of Five individuals by using the Orion system were able to locate the white square on the dark computer screen significantly which was not that much easy without Orion System. Four out of five tested in the two-year study were able to easily identify the direction of moving motion bar across the screen of computer by using the Orion System.
The governmental COVID-19 restrictions had paused the study for some time at both study centers but now it is proceeding at both centers. The Functional Low-Vision Observer Rated Assessment (FLORA) was limited to two subjects due to travel restriction caused by COVID-19, but both received a positive benefit from Orion. The study in the early stage resulted one serious event which was coped without hospitalization.
Previous Activities by Second Sight:
On April 6, 2021, EYES stock announced the appointment of two new members, Dr. Dean Baker and Ms. Alexandra Larson to its board of directors. Dr. Dean Baker was also appointed to the Audit Committee of the Board. The chairman of the Board welcomed both members and expressed excitement by acknowledging the talent and experience of both new members. Prior to this announcement, Second Sight’s Board of Directors had named Scott Dunbar as an acting Chief Executing Officer for one year.
The recent news related to the two-year feasibility study of the Orion system by the EYES stock has forced the investors to respond accordingly. The management is excited to resume the study to further analyze the promising results and ease in COVID-19 restriction due to roll out of vaccine is a good sign for EYES stock. In short, investors need to keep an eye on it.