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Second Sight posts lower net loss in second quarter

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Second Sight Medical Products reported a net loss of $6.8 million, or $0.12 per share, in the second quarter of 2017 compared with a net loss of $8.5 million, or $0.23 per share, in the second quarter of last year, according to a press release.

Total revenue increased from $1 million in the second quarter of 2016 to $2.2 million. This was attributed to an increase in implant volume and higher CMS reimbursement in the U.S. in 2017.

Operating expenses were up from $6.3 million in 2016’s second quarter to $8 million, which was attributed to the higher personnel and consulting costs related to the company’s development and commercial efforts.

Gross profit was $1.1 million in the second quarter compared with a gross loss of $2.2 million a year ago.