Business
Sight Sciences Reports Third Quarter 2022 Financial Results
MENLO PARK, Calif., Nov. 10, 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., Nov. 10, 2022 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT), an eyecare technology company focused on creating innovative solutions intended to transform care and improve patients’ lives, today reported financial results for the third quarter ended September 30, 2022. Recent Business Highlights Generated total revenue of $18.7 million in the third quarter of 2022, an increase of 43% compared to the prior year period and 8% from the second quarterAchieved total gross margin of 84% in the third quarter of 2022Increased the number of facilities ordering the OMNI® Surgical System to 913 in the third quarter of 2022 from 875 in the second quarter of 2022, and the installed base of TearCare® System facilities to 881 on September 30, 2022 from 762 on June 30, 2022Launched the SION™ Surgical Instrument, the world’s only bladeless goniotomy device, as part of the Sight Sciences Surgical Glaucoma product portfolio among select surgeons in August and initiated a broader commercial launch in the fourth quarter of 2022Announced key publication of TREY study data in International Ophthalmology, highlighting strong intraocular pressure (IOP) reductions following standalone OMNI procedures in open-angle glaucoma patients with a history of implanted trabecular microbypass stents and glaucoma medication treatment whose IOP was not controlledAnnounced publication of OLYMPIA trial data showing superior symptom relief in a subset of advanced dry eye patients who received TearCare treatment in Clinical OphthalmologyCompleted enrollment for SAHARA, a randomized clinical trial designed to evaluate the TearCare System procedure versus Restasis eye drops in patients with chronic dry eye disease, in September “We are pleased with our results for the third quarter, which demonstrate increasing adoption of OMNI and TearCare. We continue to execute commercially and operationally to generate market leading growth with both products, as well as our recently launched SION bladeless goniotomy instrument,” said Paul Badawi, co-founder and Chief Executive Officer of Sight Sciences. “Our large and growing library of trial data and real-world evidence provides tangible clinical support to our expansion of the standalone MIGS and dry eye treatment markets, positioning Sight Sciences for strong growth in the years to come.” Third Quarter ...