Business
Sight Sciences Reports Fourth Quarter and Full Year 2021 Financial Results
MENLO PARK, Calif., March 24, 2022 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT), an eyecare technology company focused on creating innovative
About this update from Sight Sciences, Inc.
[{"type":"text","content":"MENLO PARK, Calif., March 24, 2022 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT), an eyecare technology company focused on creating innovative solutions intended to transform standards of care and improve patients’ lives, today reported financial results for the quarter and year ended December 31, 2021. Recent Business Highlights Generated 2021 total revenue of $49.0 million, an increase of 77% compared to the prior yearGenerated fourth quarter 2021 total revenue of $14.7 million, an increase of 63% compared to the prior year periodExpanded total gross margin to 87% in the fourth quarter 2021 versus 74% in the prior year periodReceived FDA 510(k) Clearance of the TearCare® System for treatment of Meibomian Gland Disease (MGD), the leading cause of Dry Eye DiseaseClinical data from the prospective, multicenter GEMINI clinical trial was published in Clinical Ophthalmology demonstrating that at 12 months post treatment, microinvasive glaucoma surgery (MIGS) using the OMNI® Surgical System suppressed daily fluctuations in intraocular pressure – a meaningful and independent risk factor for the progression of glaucoma. Two additional publications based on data from GEMINI were recently accepted for publication in Clinical OphthalmologyLaunched the “Don’t Wait for Too Late” educational campaign aimed to raise glaucoma community awareness of Standalone MIGS as an earlier intervention alternative to treat primary open-angle glaucomaAppointed health policy and legislation expert Brenda Becker to the Board of Directors “Our fourth quarter results capped a tremendous year for Sight Sciences. We achieved strong commercial results, FDA clearances expanding indications for both OMNI and TearCare, significant progress across our ten ongoing and planned clinical trial programs, and substantial R&D advancements on existing and new products that have the potential to further improve the lives of patients with glaucoma and dry eye,” said Paul Badawi, co-founder and Chief Executive Officer of Sight Sciences. “In addition, we completed the largest medical technology IPO of 2021 by gross proceeds, raising $276 million and providing us ample financial flexibility to invest in our business plan. We will build on this momentum in 2022 and continue to execute our three strategic initiatives: (1) converting more Combination Cataract MIGS surgeons...