Sight Sciences, Inc. - SGHT STOCK NEWS

Sight Sciences reported its Q3 2024 financial results and updated its full-year 2024 adjusted operating expense guidance. The company generated total revenue of $20.2 million, a 1% increase year-over-year, and achieved a positive cash flow of $0.4 million compared to a $10.0 million cash usage in Q3 2023. Gross profit was $16.9 million with a gross margin of 84%. The net loss was reduced to $11.1 million ($0.22 per share) from $13.0 million ($0.27 per share) in Q3 2023. Operating expenses decreased by 8% to $28.1 million. The company also announced the Final LCDs that confirm Medicare coverage for certain glaucoma procedures, effective November 17, 2024. Sight Sciences maintains its revenue guidance of $81.0-$83.0 million for 2024 but revises its adjusted operating expenses guidance to $104.0-$106.0 million.

Sight Sciences (SGHT) announced two key executive appointments effective November 4, 2024: MK Raheja, Ph.D. as Executive Vice President of Research and Development, and Brenton Taylor as Executive Vice President of Operations. These appointments coincide with the retirement of COO Sam Park, effective November 15, 2024. Dr. Raheja brings over 35 years of ophthalmic innovation experience, having overseen the development of 70+ ophthalmic innovations. Taylor contributes nearly 25 years of medical technology experience, notably co-founding Inogen and scaling its respiratory products to $350 million in annual sales.

Sight Sciences (Nasdaq: SGHT), an eyecare technology company, has announced it will report its third quarter financial results for the period ended September 30, 2024, after the market close on Thursday, November 7, 2024. The company will host a conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time on the same day to discuss the results.

Investors can access a live and archived webcast of the event on the company's website at www.sightsciences.com, in the News & Events section of the Investors page. The webcast will be available for replay for at least 90 days after the event.

Sight Sciences (Nasdaq: SGHT) announced the publication of a new study in Clinical Ophthalmology, demonstrating the efficacy of TearCare treatment for dry eye disease (DED). The study, titled 'Impact of TearCare on Reading Speed in Patients with Dry Eye Disease,' revealed significant improvements in various metrics:

- 52% of participants showed clinically significant improvement in reading speed
- Statistically significant improvements in IReST and MNREAD scores
- Significant enhancements in OSDI and NEI-VFQ-25 scores, measuring symptoms and vision-related quality of life
- Significant improvements in all DED sign metrics

The prospective single-center study suggests that a single TearCare treatment can improve vision-related quality of life and reading speeds in patients with meibomian gland disease associated DED. The findings indicate that this interventional approach should be considered to reduce the disease burden of MGD associated DED.

Sight Sciences (Nasdaq: SGHT), an eyecare technology company, has announced its participation in the upcoming Morgan Stanley Global Healthcare Conference in New York, NY. The company's management is set to present on Wednesday, September 4, 2024, at 1:50 pm PT / 4:50 pm ET.

Sight Sciences focuses on developing and commercializing innovative, interventional technologies to elevate the standard of care in eyecare. Interested parties can access a live and archived webcast of the fireside chat on the "Investors" section of the company's website at investors.sightsciences.com.

Sight Sciences (Nasdaq: SGHT) reported its second quarter 2024 financial results with a total revenue of $21.4 million, an 11% increase from the prior quarter but a 9% decrease year-over-year. Gross margin remained stable at 86%. The company reduced cash usage to $9.1 million, a 29% decrease from the same period in 2023. Surgical Glaucoma revenue fell 5% to $20.2 million, and Dry Eye revenue declined 46% to $1.1 million. Total operating expenses were reduced by 12% to $31.0 million. Net loss was $12.3 million ($0.25 per share), down from $14.8 million ($0.30 per share) year-over-year. The company narrows its full-year 2024 revenue guidance to $81.0-$83.0 million, indicating 0% to 2% growth, and adjusted operating expenses to $107.0-$109.0 million. Notably, CMS proposed increased Medicare payment rates for OMNI procedures, effective January 1, 2025, which could benefit the company.

Sight Sciences (Nasdaq: SGHT), an eyecare technology company, has announced it will report its second quarter 2024 financial results on August 1, 2024, after the market close. The company will host a conference call at 1:30 p.m. Pacific Time / 4:30 p.m. Eastern Time on the same day to discuss the results. Investors can access a live and archived webcast of the event on the company's website at www.sightsciences.com, in the Investors page under the News & Events section. The webcast will be available for replay for at least 90 days after the event.

Sight Sciences (Nasdaq: SGHT) has released its first Sustainability Report, detailing its environmental, social, and governance (ESG) initiatives from 2021 to 2023. The report emphasizes the company's commitment to reducing its environmental footprint through energy efficiency and waste reduction, supporting community engagement, diversity, and employee well-being, and maintaining a strong governance framework with ethical standards and transparency. Key highlights include supporting 25 indigent care programs in over 10 countries, employing 214 people worldwide with nearly 50% women, and launching a Women in Leadership initiative. Furthermore, the company reduced its air freight shipments in 2023 to lessen environmental impact and adopted a Stock Ownership Policy to align executive and director interests with those of shareholders. The full report can be accessed on the company's website.

Sight Sciences announced the publication of twelve-month results from the SAHARA trial, showing clinically meaningful improvements in dry eye disease for patients who switched from Restasis to the TearCare treatment. Phase 2 of the trial included 163 patients who had used Restasis for six months before switching to a single TearCare procedure. Key findings revealed that TearCare resulted in statistically significant improvements in tear break-up time (TBUT) and other dry eye symptoms at both three and six months post-treatment. The study's positive outcomes suggest TearCare as a viable primary or secondary treatment for dry eye disease.