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Second Sight reports drop in second quarter revenue

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Second Sight Medical Products reported $1 million in total revenue in the second quarter, down from $2.7 million in the second quarter of 2015, according to a press release.

Eleven Argus II retinal prosthesis systems were implanted during the quarter, down from 20 in the same period a year ago but up from 10 in the first quarter. Lower Medicare outpatient payment rates, which went into effect Jan. 1, continue to affect business, the release said.

Quarterly net loss was $8.5 million, or $0.23 per share, compared with a net loss of $4.9 million, or $0.14 per share, a year ago.

Operating expenses totaled $6.3 million compared with $6 million in the second quarter of 2015.