Weird But Effective Stock: Second Sight Medical Products, Inc. (NASDAQ: EYES)

On 24 Jan 2020, Second Sight Medical Products, Inc. (NASDAQ: EYES) changed 11.31% to recent worth of $4.33. The stock negotiated 56501 shares throughout most recent day nevertheless it has an average volume of 36.79 K shares. It identified trading -54.90% off 52-week high price. On the other end, the stock has been noted 21.63% away from the low cost over the last 52-weeks.

2nd Sight Medical Products, Inc. (EYES) just recently specified monetary outcomes for the three and 9 months ended September 30, 2019.

3rd Quarter 2019 Financial Results
Net sales on a GAAP basis were $0.5 M for the 3rd quarter of 2019 contrast to $2.2 M in the 3rd quarter of 2018. Profits was acknowledged for 4 implants on a GAAP basis with an average asking price of $118,000 in the third quarter of 2019 contrast to 22 implants with an average selling cost of $102,000 in the exact same period of 2018.
Gross earnings for the 3rd quarter of 2019 was $0.1 M contrast to a gross profit of $0.5 M in the 3rd quarter of 2018. In the third quarter of 2019, cost of sales consisted of about $0.2 M for the cost of items implanted and unabsorbed production costs of $0.2 M.
Research study and advancement expenditure increased to $3.4 M during the 3rd quarter of 2019 from $2.7 M in the 3rd quarter of 2018. The increase mostly reflects expenses to produce Orion prototypes. The Company expects research and advancement expenses to increase in future periods as it accelerates the transition to the Orion platform, consisting of costs before associated to production activities such as centers and workers that will be transitioning to Orion development activities.
Regulatory and medical expense was $0.9 M throughout the 3rd quarter of 2019 contrast to $1.0 M in the third quarter of 2018. The decrease is attributable to reduce costs from the Orion Early Feasibility Study. The Company expects regulatory and clinical costs to increase in the future as it performs extra clinical trials to evaluate Orion and related enhancements to the user experience.
Selling and marketing cost was $1.3 M during the third quarter of 2019 contrast to $3.0 M in the third quarter of 2018. The reduction of $1.7 M is primarily driven by minimized industrial activities connected to Argus II. The Company expects selling and marketing cost to decrease as it minimizes Argus II industrial activities and sells through existing inventory.
General and administrative cost was $2.2 M in the 3rd quarter of 2019 contrast to $2.3 M in the third quarter of 2018. The decrease is primarily attributable to lower compensation costs. The Company expects administrative and general expenditure to remain consistent for the rest of 2019.
Net loss for the 3rd quarter of 2019 was $7.6 M, or a loss of $0.06 per share, contrast to a bottom line of $8.5 M, or a bottom line of $0.12 per share, in the 3rd quarter of 2018.
The non-GAAP net loss for the third quarter of 2019, not including specific non-cash items, was $6.9 M, or $0.06 per share, contrast to a non-GAAP bottom line of $7.5 M, or $0.11 per share, in the 3rd quarter of 2018.
As of September 30, 2019, Second Sight had $18.5 M in money and cash equivalents. The Company continues to anticipate its cash to money operations into the second quarter of 2020.
The business has 16.04 M of outstanding shares and 5.62 M shares were drifted in the market. According to the most current quarter its current ratio was 2.8 that represents companys capability to satisfy its current monetary responsibilities. The price moved ahead of -18.12% from the mean of 20 days, -29.12% from mean of 50 days SMA and carried out -33.65% from mean of 200 days price. Companys efficiency for the week was -15.43%, -27.83% for month and YTD efficiency stayed -27.06%.

.

Gross profit for the 3rd quarter of 2019 was $0.1 M contrast to a gross earnings of $0.5 M in the 3rd quarter of 2018. Research and development expenditure increased to $3.4 M during the 3rd quarter of 2019 from $2.7 M in the third quarter of 2018. Regulatory and scientific expenditure was $0.9 M during the third quarter of 2019 contrast to $1.0 M in the 3rd quarter of 2018. Marketing and selling cost was $1.3 M during the 3rd quarter of 2019 contrast to $3.0 M in the third quarter of 2018. General and administrative expense was $2.2 M in the third quarter of 2019 contrast to $2.3 M in the third quarter of 2018.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Wayne Roberts

Wayne Roberts – Business News   I am Wayne Roberts, I have done my bachelor’s in English literature, and further on I did my master’s in business. My most preferred genre of writing is business and finance. I have been writing from the past 5 years about articles, web content, and blogs. In my career and education, I like to play along with work. I have also been a teacher in the past for 4 years. I use to teach business and technical writing in a very famous university. However, most recently I am working as an instructor, designer, and training writer. I enjoy socializing a lot. I am a very big extrovert when it comes to my nature. A part of all this I enjoy exploring the world and traveling make me happy.

2021's Most Anticipated Growth & Wealth-Building Opportunity

Join Thousands of Early Adopters Just Like You Who Want to Grow Capital and Truly Understand Cryptocurrency Together

Close Bitnami banner
Bitnami