Second Sight Medical Products [NASDAQ: EYES] disclosed that FDA has granted the authorization to FDA for Argus 2s Retinal Prosthesis System. The authorization of Argus 2s has sent the stock of the firm soaring. Argus 2s is a remodeled array of external hardware originally for utilization in conjunction with earlier embedded Argus II systems for the cure of retinitis pigmentosa (RP).
Additionally, the Argus 2s system provides substantially greater processing power, possibly permitting enhanced video processing. A decision on when and where to start manufacturing of the newly authorized hardware is awaiting execution of the proposed business merger of the EYES with Pixium Vision, which is currently is underway.
Shares of Second Sight Medical Products (NASDAQ: EYES) nearly trebled during the trading session of Friday. The firm share rose 304.90% as it earned +4.36. The last closing price of the share of Second Sight is $5.79. It has reported a trading volume of 734.10 million as compared to the average volume of 2.07 million. EYES has a total market capitalization of $142.78 million at the time of writing.
Furthermore, the playing CEO of EYES commented that this is the greatest accomplishment of the firm as it received the authorization for Argus 2s Vision Aid. Moreover, this authorization will also be a ray of hope for the sufferers experiencing breakdown and loss of retinal cells of the eye. RP is the leading cause of visual impairment and with time it also leads to blindness.