Sight Sciences, Inc. - SGHT STOCK NEWS

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.

Sight Sciences (Nasdaq: SGHT) announced the findings from a new analysis of the ROMEO study, which suggests that their OMNI Surgical System is effective in lowering intraocular pressure (IOP) and reducing medication usage in patients with glaucoma, regardless of disease severity. The study, published in Clinical Ophthalmology, included 129 patients categorized by glaucoma severity (mild, moderate, advanced) and showed significant reductions in IOP and medication usage at 12 months post-treatment. The majority of eyes (70%) saw IOP reduction, with 92% achieving 18 mmHg or less. Additionally, 50% to 69% of patients reduced medication usage by at least one medication. The findings challenge the belief that advanced glaucoma cannot be effectively treated with minimally invasive glaucoma surgery (MIGS) and suggest consistent treatment outcomes across all stages of the disease.

Sight Sciences, Inc. (Nasdaq: SGHT) will present at the Bank of America Healthcare Conference, showcasing innovative eyecare technologies. The presentation will take place on May 14, 2024, accessible via live webcast.

Sight Sciences reported first quarter 2024 financial results, generating $19.3 million in total revenue, an increase of 2% compared to the prior year. The company achieved an 86% total gross margin and reduced cash used to $10.8 million. Additionally, a positive jury trial verdict was received in a patent infringement case, awarding $5.5 million in lost profits and $28.5 million in royalty damages. Clinical highlights included successful results from MIGS studies and the TearCare System trials. Despite a 32% decrease in Dry Eye revenue, the company remains optimistic about growth opportunities in the Surgical Glaucoma and Dry Eye segments for 2024.

Sight Sciences, Inc. (Nasdaq: SGHT) won a $34 million patent infringement case against Alcon for their Hydrus Microstent in a positive jury trial verdict. The damages include $5.5 million in lost profits and $28.5 million in royalty damages. The verdict is subject to appeal.