Second Sight Reports Revenue Increase

Visual prosthetics manufacturer Second Sight Medical Products Inc. reported its third-quarter financial results on Thursday. The Sylmar company reported a net loss of $4.7 million (-13 cents a share) and an adjusted net loss of $3.7 million (-10 cents) in the quarter ended Sept. 30, compared to $7.6 million (-31 cents) and $4.7 million (-19 cents) respectively for the same period a year earlier. Revenue rose 265 percent to $2.2 million. Second Sight attributes the increase in revenue to the growing number of implanted Argus II artificial retinal devices. In the third quarter of 2015, 15 of the prostheses were implanted, three times as many as in the same quarter just a year prior. Shares closed down Friday 37 cents, or 5.9 percent, to $5.88 on the Nasdaq.