Sight Sciences
Sight Sciences reimagines eyecare with transformative, clinically-proven technologies that enable less invasive and more intelligent interventions, focusing on glaucoma and OSD therapies.
Company Overview
Sight Sciences reimagines eyecare with transformative technology and an interventional mindset. The company aims to provide eyecare providers with transformative, clinically-proven therapies that are intuitive, less invasive, and more intelligent. Its initiatives are centered on developing technologies that elevate the standards of care procedurally. Sight Sciences envisions a future where innovations are employed at the earliest stages of disease progression.
Products
Sight Sciences develops comprehensive eyecare solutions, focusing particularly on glaucoma and ocular surface diseases (OSD). Their flagship product, the OMNI Surgical System, is CE marked in the European Union and is a registered trademark in the EU, UK, Switzerland, and Germany. The company announced the European launch of the Ergo-Series of the OMNI Surgical System at the ESCRS Winter Meeting. These products are designed to help providers intervene earlier and target underlying diseases effectively.
Market Focus
Sight Sciences directs its efforts towards developing glaucoma and dry eye disease therapies. For glaucoma, 80 million patients globally are diagnosed with Primary Open-Angle Glaucoma (POAG), including 3.4 million in the U.S. and 5.7 million in Western Europe. Additionally, 18 million U.S. patients are diagnosed with Dry Eye Disease (DED). The company focuses on targeting the underlying causes of these diseases, enabling early intervention.
Recent Financial Performance
In its recent financial announcements, Sight Sciences reported first quarter 2024 results and reaffirmed its full-year guidance. Previously, the company reported fourth quarter and full-year 2023 results, initiating guidance for 2024. However, for the third quarter of 2023, Sight Sciences withdrew its full-year guidance. Additionally, the company secured a senior secured credit facility with Hercules Capital, amounting to up to $65 million.
Legal Affairs
Sight Sciences announced a successful $34 million patent infringement verdict against Alcon for its Hydrus Microstent, which pertains to microinvasive glaucoma surgery. This legal milestone underscores the company’s commitment to protecting its innovative technologies and reinforcing its position in the medical device market for eyecare.