Second Sight Medical Products Inc (NASDAQ: EYES) stock surged by 23% on June 4, 2021, to $6.44. It expects to reach $10 soon.
Pixium Vision seeks damages of $6.3 million
According to a communiqué received on June 1, 2021, Second Sight received summons related to the violation of the accord between the two parties. The opposite party – Pixium Vision, seeks damages of $6.3 million and filed a complaint in Paris’ Commercial Court. Second Sight stock is moving higher despite this lawsuit.
Second Sight said it already paid $1 million in April 2021 to Pixium Vision per the MOU. It says no amount is pending to Pixium Vision as per this MOU and would stand firmly against the new claims.
On June 1, 2021, NASDAQ issued a notification of compliance to Second Sight and would continue to get listed.
Publishes two year Orion study results
Second Sight achieved a significant breakthrough in its two-year EF (Early Feasibility) study of Orion in providing artificial vision to blind individuals.
The company conducts a single-arm study involving six subjects at Baylor College of Medicine and UCLA. It resumed the trial after briefly halting because of the COVID-19 pandemic. According to the recent results, the majority of the participants in the study significantly benefitted from Orion.
Five of the five participants in the clinical study can identify a white mark on the dark computer using Orion. Four out of the five participants could recognize the direction of the moving bar on a computer screen.
The company conducted FLORA (Functional Low-Vision Observer Rated Assessment) on two subjects only because of coronavirus-related restrictions. Both of them showed improvement using Orion. It will schedule the balance 24-month schedules.
VP (Clinical and Scientific Research) of Second Sight, Jessy Dorn, said the company is pleased to resume the clinical study and achieve significant benefits for the participants using its Orion system.
The principal investigator, Nader Pouratian, of the Orion clinical trial, is pleased to learn about Orion’s therapeutic benefits from the results of the EF study.