Second Sight (NASDAQ:EYES) stock is soaring higher Friday after announcing approval from the U.S. Food and Drug Administration (FDA) for its Argus 2s Retinal Prosthesis System.
Second Sight notes that the Argus 2s Retinal Prosthesis System is a redesigned version of external hardware used alongside its Argus II implant. This hardware is a pair of glasses and a camera that help provide vision to people suffering from retinitis pigmentosa (RP).
According to Second Sight, it already has plans for the Argus 2s Retinal Prosthesis System. The company hopes to use it in the next generation Orion Visual Cortical Prosthesis System. This is a new treatment for RP currently in development.
Second Sight points out that the Argus 2s Retinal Prosthesis System offers several improvements over its predecessor. That includes better ergonomics and a more powerful processing. That better processor means video processing should see a boost in performance.
Matthew Pfeffer, acting CEO of Second Sight, said this about the news boosting EYES stock up on Friday.
“We are very pleased to have received this approval, as it presents an opportunity to offer external hardware that we believe enhance comfort and aesthetics compared with the legacy Argus II system.”
EYES stock is also seeing heavy trading today alongside the news. As of this writing, more than 297 million shares have changed hands. To put that in perspective, the stock’s daily average trading volume is about 2 million shares.
EYES stock was up 179.2% as of Friday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.