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Second Sight Medical Products (NASDAQ: EYES) has seen its share price surge on Friday after the US Food and Drug Administration (FDA) approved the Argus 2s Retinal Prosthesis System.
Argus 2s is a redesigned set of external hardware initially for use combined with previously implanted Argos II systems for the treatment of retinitis pigmentosa.
The developer and marketer of implantable visual prosthetics expect the Argus 2s will be adapted to be the external system for the next generation Orion Visual Cortical Processing System, which is currently under development.
“In addition to ergonomic improvements, the Argus 2s system offers significantly more processing power, potentially allowing for improved video processing,” Second Sight said.
A decision on when to begin production of the hardware is pending the completion of Second Sight’s planned business combination with Pixium Vision, which is currently in progress.
“We are very pleased to have received this approval, as it presents an opportunity to offer external hardware that we believe enhance comfort and aesthetics compared with the legacy Argus II system,” commented Matthew Pfeffer, acting CEO of Second Sight.
The company's shares are trading 140% higher at $3.44.
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