EYES - Second Sight Medical

[Saluki]

Does anyone have any insight on this company? It's a company that makes a medical device to help blind people see.

 

Market cap is only $123 million and it's losing money, but it's gone from $1 to$2 over the past year, and I keep seeing the name come up on Dataroma because one of the insiders (Gregg Williams) keeps buying up shares (he also did a $10 million private placement for additional shares).

 

The product looks amazing, but the sales numbers look terrible.  Am I missing something?

 

https://finance.yahoo.com/quote/EYES/key-statistics?p=EYES

[Cigarbutt]

Does anyone have any insight on this company? It's a company that makes a medical device to help blind people see.

 

Market cap is only $123 million and it's losing money, but it's gone from $1 to$2 over the past year, and I keep seeing the name come up on Dataroma because one of the insiders (Gregg Williams) keeps buying up shares (he also did a $10 million private placement for additional shares).

 

The product looks amazing, but the sales numbers look terrible.  Am I missing something?

 

https://finance.yahoo.com/quote/EYES/key-statistics?p=EYES

 

Had a brief look.

 

Early stage of development and potential winner but many unknowns.

There has been some progress with ear implants and it is hoped that similar results can be achieved with vision restoration.

 

At this point , the devices are mainly used for people who have retinitis pigmentosa, a relatively rare disorder. The hope is to expand the indication to other degenerative disorders affecting certain categories of vision problems. The market would be huge but results are not that convincing at this point (IMO) as restoration of vision is fairly crude and may be temporary.

 

I submit that the first mover advantage may be relatively limited even if improvements are likely to be developed as improvements in technology may occur at several levels.

 

Maybe an interesting opportunity if you have an unusual insight into the technology or an unusually high degree of confidence in the proprietary research or if you have a venture capital mindset.

 

Here is a link that is somewhat promotional althought I'm not convinced that seeing is believing.

https://www.asrs.org/patients/retinal-diseases/8/retinitis-pigmentosa-and-retinal-prosthesis

Hope this helps.

 

 

 

 

 

[Saluki]

Thanks Cigarbutt,

 

I looked at the presentation and it says they need to sell 400 units just to reach breakeven and they only sold 30 last quarter, so I didn't get what the insider was so optimistic about, other than it's the only FDA approved device for treating this illness. Since I have no special insight into this market and am not a visionary, I'll probably pass.