August 20, 2019
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Second Sight’s second quarter net loss increases
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Second Sight Medical Products reported a net loss of $8.4 million, or $0.07 per share, for the second quarter of 2019 compared with a net loss of $8 million, or $0.12 per share, for the same time period a year ago, according to a press release.
Research and development expense increased to $3.4 million compared with $2.4 million in the second quarter of 2018.
Selling and marketing expense decreased to $1.7 million compared with $2.9 million a year ago, which was attributed to the decreased use of outside services, reduced headcount and related compensation expenses in connection with the strategy shift to the company’s Orion cortical visual prosthesis system.
Second Sight had $25.2 million in cash and cash equivalents as of June 30.