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 preliminary financial results for Q4 and full year 2022, highlighting a projected 40% increase in Q4 revenue, estimated between $20.4 million and $20.6 million. Full year revenue is expected to be $71.2 million to $71.4 million, marking a 46% year-over-year growth. Surgical Glaucoma and Dry Eye product revenues showed significant growth, with Dry Eye revenues increasing by 134% compared to the prior year. Additionally, the company announced a CFO transition, with interim leadership stepping in as the search for a replacement begins.
Verana Health and Sight Sciences have initiated a research collaboration to enhance treatment outcomes for patients with primary open-angle glaucoma (POAG). This partnership will utilize Verana's Qdata Glaucoma real-world data module, which encompasses over 341,000 MIGS records from more than 5 million patients with extensive follow-up data. The OMNI Surgical System, a minimally invasive solution for lowering intraocular pressure, will be evaluated for its long-term efficacy and safety. POAG currently affects 2.7 million Americans, making this research crucial.
Sight Sciences, Inc. (Nasdaq: SGHT) presented data at the 2022 American Academy of Optometry showing significant improvements in meibomian gland function and dry eye symptoms using the TearCare® System. A study of 78 patients indicated a 63% improvement in gland function and a 44% reduction in dry eye symptoms over 12 months. Results demonstrated sustained efficacy, with symptom relief lasting up to 18 months post-treatment. The findings suggest potential for broader adoption of TearCare® in treating meibomian gland disease, addressing patient compliance with traditional eye drop regimens.
Sight Sciences, an eyecare technology company, announced its participation in the Piper Sandler 34th Annual Healthcare Conference in New York on November 30, 2022, at 11:30am ET. The company aims to transform patient care with innovative solutions for prevalent eye diseases. Interested individuals can access a live and archived webcast of the fireside chat via the company's website. Sight Sciences focuses on minimally invasive treatments, including the OMNI Surgical System for glaucoma and the TearCare System for dry eye disease.
Sight Sciences reported strong financial results for Q3 2022, with total revenue of $18.7 million, marking a 43% increase year-over-year and an 8% rise from Q2 2022. The gross margin stood at 84%. The company increased the number of facilities using its OMNI Surgical System to 913 and the TearCare System to 881. Surgical Glaucoma revenue rose 37% year-over-year, while Dry Eye revenue surged 145%. Despite a net loss of $22.2 million, the outlook for 2022 revenue is projected between $70 million and $72 million, reflecting 43% to 47% growth.
Sight Sciences announced the publication of clinical data demonstrating the safety and effectiveness of the OMNI Surgical System in treating pseudophakic glaucoma patients. The study, published in International Ophthalmology, highlights the potential of OMNI as a minimally invasive, implant-free solution for patients whose intraocular pressure (IOP) is no longer controlled by existing treatments. Follow-ups of 3 to 42 months revealed that most participants regained IOP control, emphasizing OMNI's role in managing glaucoma throughout its progression.
Sight Sciences, Inc. (Nasdaq: SGHT) will announce its third-quarter financial results on November 10, 2022, after the market close. The management team will host a conference call at 1:30 p.m. PT / 4:30 p.m. ET to discuss these results. The event will be accessible through a live and archived webcast on the company's website. Sight Sciences focuses on innovative eyecare technology, including the OMNI® Surgical System and the TearCare® System, aimed at addressing prevalent eye diseases and improving patient outcomes.
On September 29, 2022, Sight Sciences (Nasdaq: SGHT) announced the publication of clinical trial data from the OLYMPIA trial in Clinical Ophthalmology. Results indicated that the TearCare System outperformed LipiFlow in improving symptoms for advanced dry eye patients due to meibomian gland dysfunction. The study involved 235 participants and showed statistically significant symptom relief across multiple endpoints, with TearCare achieving a 31% reduction in OSDI scores compared to LipiFlow's 21%. The findings reinforce TearCare's effectiveness as a treatment option.
Sight Sciences announced a first-time preview of the Ergo-Series of the OMNI Surgical System and the new SION Surgical Instrument at the AAO convention in Chicago, IL. Twelve ophthalmic physicians will share their experiences with the OMNI as a standalone treatment for minimally invasive glaucoma surgery (MIGS). These demonstrations highlight the effectiveness of OMNI in lowering intraocular pressure (IOP) while reducing patient medication needs. The event takes place at booth #4843 during the convention.
Sight Sciences announced the OMNI Surgical System will be showcased in seven clinical presentations at the 2022 ESCRS meeting in Milan from September 16-20. This system offers an innovative, implant-free approach to treating glaucoma, addressing key resistance points in the aqueous outflow system. The company highlights the growing adoption of OMNI in cataract procedures. Attendees will engage with leading glaucoma specialists at the booth, and the presentations will include long-term evaluations of OMNI's effectiveness in treating open-angle glaucoma.
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