STAAR Surgical Company (NASDAQ: STAA) reported a quarterly report on Aug. 11 that sent the stock up 16.7% to $102.03. The market capitalization was $4.94 at the time. The unique technique of STAA has gained popularity in China and India.
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Implantable lenses for the repair of severe vision impairments such as cataracts, astigmatism, and myopia have been created by STAAR Surgical Company (STAA) professionals. Exclusive development – own a new substance named Collamer. It is a polymer made entirely of collagen protein. The body does not reject such material, and lenses made of it can be implanted for many years without eliminating the natural lenticular body in the eyes.
STAAR Surgical Company (STAA) lenses are in high demand. Already, almost 2 million lenses have been fitted. The firm had 9% of the worldwide market for such implants in 2021, but that percentage is nearly expected to grow as the company anticipates record sales in 2022. The popularity of STAA solutions in China and India is the driving force.
STAAR Surgical’s sales increased 30% year on year to a record $81.1 million in the second quarter of 2022, while profits per share increased to $0.26. Cash and equivalents totaled $202.5 million.
Sales in China climbed by 45%, in the United States by 36%, in Japan by 41%, and in India by 181%. Overall, STAAR Surgical Company (STAA) sales increased by 66% in the Asia-Pacific area compared to the second quarter of the previous year.
STAAR Surgical Company (STAA) is now focusing on the commercialization of myopia treatment lenses in the United States. Despite the potential detrimental impact of COVID-19 in high-growth address areas, the business anticipates revenues of around $295 million at the conclusion of the current fiscal year.
The stock has gained 52.95% in the last month, 105.91% in the last three months, and 43.55% in the last six months. The volatility of STAA during the last week was found to be 8.62%, while the volatility over a month was 5.58%.
