Welcome to our dedicated page for Sight Sciences news (Ticker: SGHT), a resource for investors and traders seeking the latest updates and insights on Sight Sciences stock.
Sight Sciences, Inc., headquartered in Menlo Park, California, is a prominent medical device company dedicated to innovating and commercializing cutting-edge technologies for the treatment of prevalent eye diseases. The company operates through two main segments: Surgical Glaucoma and Dry Eye.
In the Surgical Glaucoma segment, Sight Sciences offers the OMNI Surgical System. This versatile device allows for both canaloplasty and trabeculotomy with a single corneal incision, aimed at reducing intraocular pressure in adults with primary open-angle glaucoma. The efficacy of OMNI has been demonstrated in multiple clinical trials, showing favorable outcomes in lowering intraocular pressure across various stages of glaucoma.
In the Dry Eye segment, the TearCare System is available for ophthalmologists and optometrists. This system helps manage dry eye disease through a single interventional eyelid procedure, providing significant improvements in the signs and symptoms of the condition over time.
Recent clinical trials have highlighted the effectiveness of these devices. For example, the GEMINI Study demonstrated successful results using OMNI combined with cataract surgery, and the SAHARA trial confirmed the benefits of TearCare compared to traditional treatments.
Financially, Sight Sciences derives key revenue from its Surgical Glaucoma segment. The company has seen active customer engagement, as evidenced by the number of OMNI and SION system orders, as well as TearCare SmartLids sales.
For investors and stakeholders, Sight Sciences continues to be a compelling entity with its relentless focus on reimagining eye care through transformative technologies. The company's commitment to improving patient outcomes and expanding its market presence underscores its significance in the ophthalmic medical device industry.
Sight Sciences (Nasdaq: SGHT) announced significant data from the 12-month GEMINI clinical trial showing that the OMNI Surgical System effectively reduces intraocular pressure (IOP) and stabilizes daily IOP fluctuations in patients with open-angle glaucoma. The study included 149 patients, demonstrating that 95% achieved lower peak IOP post-surgery, with a 36% decrease in variability compared to preoperative levels. The results support the device’s potential to improve patient outcomes in glaucoma treatments, encouraging future regulatory developments.
Sight Sciences reported a record revenue of $13.1 million for Q3 2021, marking a 51% increase year-over-year. Gross margins improved to 84% from 70% in the previous year. Surgical glaucoma revenue rose by 58% to $12.4 million, while dry eye revenue declined by 15% to $0.7 million. The company expects total revenue for 2021 to be between $47.5 million and $48.5 million, reflecting an approximate 74% growth from 2020. However, net loss increased to $17.2 million in Q3, compared to $8.1 million a year earlier.
Sight Sciences (Nasdaq: SGHT) has announced FDA approval for its IDE trial aimed at assessing the safety and effectiveness of its new higher volume OMNI device for canal viscodilation in adults with primary open-angle glaucoma (POAG).
The PRECISION clinical trial, a three-armed randomized controlled trial, is set to evaluate the device's efficacy, potentially making it the largest of its kind for minimally invasive glaucoma surgery (MIGS). The study involves 459 patients and compares the higher volume OMNI to the iStent Inject.
Sight Sciences announced it will report its financial results for the quarter ending September 30, 2021, on November 10, 2021. The management will discuss the results in a conference call at 1:30 p.m. PT/4:30 p.m. ET. Investors can access the live and archived webcast through the company’s website or by dialing specified numbers with a passcode. Established in 2011, Sight Sciences focuses on developing products for eye diseases, including the OMNI® Surgical System and TearCare® System.
Sight Sciences (Nasdaq: SGHT) announced promising results from the OLYMPIA trial published in Cornea, aiming to expand the FDA indication for its TearCare® System. This system targets evaporative dry eye disease (DED) caused by meibomian gland dysfunction (MGD), responsible for 86% of DED cases. The trial, enrolling 135 adults, demonstrated non-inferiority of TearCare compared to LipiFlow, showing significant improvements in DED symptoms without serious adverse events. Sight Sciences aims to shift treatment paradigms from drops to device-based interventions.
Sight Sciences has filed a lawsuit against Ivantis, Inc. in the United States District Court for Delaware, alleging infringement of four U.S. patents related to devices and methods for reducing intraocular pressure. The company seeks an injunction to stop the manufacture, use, and sale of Ivantis' Hydrus® Microstent, along with monetary damages for past infringements. CEO Paul Badawi stated this lawsuit aims to protect their market position in canalicular glaucoma surgery. Sight Sciences continues to innovate in glaucoma solutions, enhancing patient care through minimally invasive technologies.
Sight Sciences, a growth-stage medical device company (Nasdaq: SGHT), will participate in the Morgan Stanley Global Healthcare Conference on September 9, 2021, at 9:30 am ET. The event will be accessible via a live and archived webcast on their website. Founded in 2011, Sight Sciences focuses on addressing major eye diseases with innovative products like the OMNI® Surgical System and the TearCare® System. For more details, visit their official website.
Sight Sciences (Nasdaq: SGHT) has announced favorable results from a study published in Clinical Ophthalmology, demonstrating the long-term safety and efficacy of the OMNI Surgical System in treating open-angle glaucoma. The 24-month study showed a significant reduction in intraocular pressure (IOP) from 24.6 mmHg to 14.7 mmHg, alongside a decrease in medication use. The results indicate that 100% of subjects achieved at least a 20% IOP reduction. Adverse events were consistent with expected outcomes in similar surgeries, underscoring the potential for OMNI's expanded applications.
Sight Sciences reported impressive financial results for Q2 2021, with total revenue reaching $12.5 million, up 258% year-over-year. Surgical Glaucoma sales surged to $12.0 million, marking a 263% increase, while Dry Eye sales hit $0.5 million, up 169%. The gross margin expanded significantly to 82% from 40% in the previous year. Although the net loss widened to $17.6 million ($1.83 per share), the company completed a successful IPO, raising $253 million in July. For 2021, revenue guidance is projected between $46 million and $48 million.
Sight Sciences, Inc. (Nasdaq: SGHT) will announce its financial results for Q2 2021 on August 12, 2021, after market close. A conference call will follow at 1:30 p.m. PT / 4:30 p.m. ET to discuss these results. The company focuses on developing medical devices aimed at prevalent eye diseases, currently marketing the OMNI® and TearCare® systems. Investors can access the conference call via a live and archived webcast on the company's investor relations website.
FAQ
What is the current stock price of Sight Sciences (SGHT)?
What is the market cap of Sight Sciences (SGHT)?
What does Sight Sciences, Inc. do?
What products are offered by Sight Sciences in the Surgical Glaucoma segment?
What is the TearCare System?
Where is Sight Sciences, Inc. headquartered?
What were the findings of the GEMINI Study?
How does Sight Sciences contribute to treating dry eye disease?
What financial segment drives Sight Sciences' revenue?
Who can I contact for investor relations at Sight Sciences?
Are there any recent clinical highlights for Sight Sciences?
What trademarks does Sight Sciences hold?
