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Second Sight reports $28.5 million net loss in 2017

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Second Sight Medical Products reported a net loss of $7.4 million, or $0.13 per share, in the fourth quarter of 2017 compared with a net loss of $10.4 million, or $0.24 per share, in the fourth quarter of 2016.

For the full year, there was a net loss of $28.5 million, or $0.53 per share, compared with a net loss in 2016 of $33.2 million, or $0.84 per share, according to a press release.

Net sales were $3.1 million in the fourth quarter of 2017 and $8 million for the full year compared with $715,000 in the fourth quarter of 2016 and $4 million in 2016. The increase was attributed to a higher number of Argus II implants and a higher average revenue per implant.

Quarterly operating expenses were $8.7 million compared with $7.8 million the previous year, while yearly operating expenses were $31.5 million compared with $27.1 million the previous year.