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Second Sight Medical Products (EYES) Stock Overview
Second Sight Medical Products, Inc. develops, manufactures, and markets implantable visual prosthetics that are intended to deliver artificial vision to blind individuals. More details
| Snowflake Score | |
|---|---|
| Valuation | 2/6 |
| Future Growth | 0/6 |
| Past Performance | 0/6 |
| Financial Health | 6/6 |
| Dividends | 0/6 |
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Second Sight Medical Products, Inc. Competitors
Price History & Performance
| Historical stock prices | |
|---|---|
| Current Share Price | US$4.14 |
| 52 Week High | US$12.72 |
| 52 Week Low | US$3.42 |
| Beta | 2.56 |
| 1 Month Change | -23.33% |
| 3 Month Change | -39.74% |
| 1 Year Change | -64.25% |
| 3 Year Change | -77.89% |
| 5 Year Change | -84.46% |
| Change since IPO | -99.14% |
Recent News & Updates
Second Sight, Nano Precision complete merger, renaming as Vivani Medical
Second Sight Medical Products (NASDAQ:EYES) said it completed its merger with Nano Precision Medical, and has changed its name to Vivani Medical Inc. The company's common stock will trade on Nasdaq under the symbol VANI. In February, Second Sight said it was merging with Nano in an all-stock deal, post which EYES shareholders would own ~23% of the combined company. In July, Second Sight shareholders approved the merger, name change, and a reverse stock split which took effect on Aug. 19. Second Sight said in an Aug. 30 press release that the company will operate under Nano CEO Adam Mendelsohn, and his leadership team. Nano develops miniaturized, subdermal drug implants using its proprietary NanoPortal technology to help in the long-term, near constant-rate delivery of a range of medicines to treat chronic diseases. Upon completion of the merger, the company has ~$55M in cash to advance the development of Vivani's portfolio, which includes lead asset NPM-119 (exenatide implant) into clinical-stage development to treat patients with type 2 diabetes and to identify and execute strategic options to advance clinical-stage Orion visual prosthetic device to treat people with blindness due to a wide range of underlying causes. EYES -5.28% to $4.13 premarket Aug. 30Second Sight Medical sheds ~17% after reverse stock split
Second Sight Medical Products, Inc. (NASDAQ:EYES), a maker of implantable visual prosthetics, dropped ~17% on Friday morning as its shares began trading on a split-adjusted basis following a 1-for-3 reverse stock split. In July, the company filed for an amendment to its Articles of Incorporation with the Secretary of State in California to implement a reverse stock split of its outstanding common stock. On Aug. 16, the company was notified that the California Secretary of State had accepted the amendment. The effective time of the amendment was 5:00 p.m. Pacific Time on Aug. 09, and the company shares started trading on a split-adjusted basis on Aug. 19, EYES said in a regulatory filing. The corporate action is in line with an amendment the company's shareholders approved in July for its Restated Articles of Incorporation. Commercial-stage biotech Palatin Technologies (PTN) also traded lower on Friday on its plans for a 1-for-25 reverse split.Second Sight stock rises as shareholders approve merger, name change, reverse stock split
Second Sight (NASDAQ:EYES) said its shareholders approved its merger with Nano Precision Medical, changing the company's name to Vivani Medical Inc. and a reverse stock split among other proposals, at the annual meeting. In February, Second Sight said it was merging with Nano in an all-stock deal, post which EYES shareholders would own ~23% of the combined company. The company said ~20.03M votes were cast in favor and ~420.4K votes were against the merger. Second Sight shareholders also approved a reverse stock split of its common stock as determined by the board in a ratio ranging between 1:2 and 1:10. The stockholders elected each of the six director nominees to the board, among other things. EYES +7.07% to $1.97 premarket July 29Second Sight stock rises ~10% on $1.1M funding from NIH for artificial vision implant trial
Second Sight Medical Products (NASDAQ:EYES) said it received the fourth year funding of $1.1M from the National Institutes of Health (NIH) for a trial of its artificial vision implant, Orion Visual Cortical Prosthesis System (Orion). The planned five-year grant is for a total $6.4M. The company added that it mainly uses the funds to pay UCLA and the Baylor College of Medicine to conduct the Orion trial. The company noted in a July 18 press release that Orion is an implanted cortical stimulation device intended to provide useful artificial vision to individuals who are blind due to a range of causes, including glaucoma, diabetic retinopathy, optic nerve injury or disease, and eye injury. Orion is aimed at converting images captured by a miniature video camera mounted on glasses into a series of small electrical pulses. The device is designed to bypass diseased or injured eye anatomy and transmit the electrical pulses wirelessly to an array of electrodes implanted on the surface of the brain's visual cortex, where it is intended to provide the perception of patterns of light, Second Sight added. EYES +9.95% to $2.32 premarket July 18Revisiting Second Sight Medical Products: The EV Is Negative And Being Short No Longer Looks Appealing
Second Sight has a negative enterprise value at the moment as it has about $69 million in cash. In my view, short-selling the shares of a company with a negative enterprise value could be dangerous and bears could be better off closing their positions. However, I’m not bullish either as Second Sight is merging with another early-stage biotech company and the market valuation of the combined entity stands at close to $250 million. Most of the cash will likely be invested in the development of new products and I think it’s too early to tell whether any of them have blockbuster potential.Recent updates
Shareholder Returns
| EYES | US Medical Equipment | US Market | |
|---|---|---|---|
| 7D | 0.7% | 1.6% | 2.2% |
| 1Y | -64.2% | -11.1% | 20.9% |
Return vs Industry: EYES underperformed the US Medical Equipment industry which returned -28.4% over the past year.
Return vs Market: EYES underperformed the US Market which returned -16.7% over the past year.
Price Volatility
| EYES volatility | |
|---|---|
| EYES Average Weekly Movement | 11.3% |
| Medical Equipment Industry Average Movement | 8.8% |
| Market Average Movement | 7.3% |
| 10% most volatile stocks in US Market | 16.2% |
| 10% least volatile stocks in US Market | 3.1% |
Stable Share Price: EYES's share price has been volatile over the past 3 months.
Volatility Over Time: EYES's weekly volatility (11%) has been stable over the past year.
About the Company
| Founded | Employees | CEO | Website |
|---|---|---|---|
| 1998 | 15 | Scott Dunbar | www.secondsight.com |
Second Sight Medical Products, Inc. develops, manufactures, and markets implantable visual prosthetics that are intended to deliver artificial vision to blind individuals. It develops technologies to treat the population of sight-impaired individuals. The company offers the Orion Visual Cortical Prosthesis System, an implanted cortical stimulation device, which is intended to provide useful artificial vision to individuals who are blind due to various causes, including glaucoma, diabetic retinopathy, optic nerve injury or disease, and eye injury.
Second Sight Medical Products, Inc. Fundamentals Summary
| EYES fundamental statistics | |
|---|---|
| Market cap | US$54.38m |
| Earnings (TTM) | -US$9.07m |
| Revenue (TTM) | n/a |
Is EYES overvalued?
See Fair Value and valuation analysisEarnings & Revenue
| EYES income statement (TTM) | |
|---|---|
| Revenue | US$0 |
| Cost of Revenue | -US$130.00k |
| Gross Profit | US$130.00k |
| Other Expenses | US$9.20m |
| Earnings | -US$9.07m |
Last Reported Earnings
Jun 30, 2022
Next Earnings Date
n/a
| Earnings per share (EPS) | -0.69 |
| Gross Margin | 0.00% |
| Net Profit Margin | 0.00% |
| Debt/Equity Ratio | 0% |
How did EYES perform over the long term?
See historical performance and comparisonCompany Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2022/08/30 01:22 |
| End of Day Share Price | 2022/08/30 00:00 |
| Earnings | 2022/06/30 |
| Annual Earnings | 2021/12/31 |
Data Sources
The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* Example for US securities, for non-US equivalent regulatory forms and sources are used.
Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.
Analysis Model and Snowflake
Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.
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Industry and Sector Metrics
Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.
Analyst Sources
Second Sight Medical Products, Inc. is covered by 2 analysts. of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| Kyle Bauser | Colliers Securities |
| Amit Dayal | H.C. Wainwright & Co. |