The approval of a product from the United States Food and Drug Administration almost always leads to a spike in the stock price and that is what happened with the Second Sight Medical Products Inc (NASDAQ: EYES) stock this past Friday.
The stock soared by as high as 340% this past Friday after it announced that its product Argus 2s Retinal Prosthesis System was awarded the coveted approval by the FDA. It is a significant development for the company and the rally in the stock did not come as a total surprise.
The product in question is a form of hardware that consists of a pair of glasses fitted with a camera and helps with the vision of those who are suffering from retinitis Pigmentosa. In addition to that, Second Sigh has also pointed out that the Argus 2s Retinal Prosthesis System also offers a range of upgrades when compared to its predecessor. Considering the gains made by the stock on Friday, it is likely that Second Sight is going to be in focus among investors today.
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Anthony Gonzales brings 3 years of experience in helping grassroots, mid-sized organizations and large institutions strengthen their management and resource generating capacities and effectively plan for the future. He is also a mentor and professional advisor to artists working in all disciplines. He is the gold medalist from St. Marco University of Science and Technology in the Bachelors of Financial Management as well.