Shares of Second Sight Medical Products Inc. EYES, +18.09% shot up 30.7% to $15.38 on volume of 56.6 million shares in morning trading Tuesday, bringing its three-day gain to 975.5%, in the wake of the company’s announcement that the Food and Drug Administration approved its Argus 2s Retinal Prosthesis System for the treatment of retinitis pigmentosa. The stock skyrocketed a record 304.9% on record volume of 739.7 million shares on March 5 after the announcement, then 103.3% on volume of 320.4 million shares on Monday, before Tuesday’s gain. The stock had closed at a near 3-month low of $1.43 prior to the rally. On Tuesday, the stock had been up as much as 69.9% at an intraday high of $20.00, the highest price seen since February 2018, before paring gains. Separately, Paris-based Pixium Vision S.A. ALPIX, -11.20% issued a release saying the business combination with Second Sight announced on Jan. 6 continues. At that time, Second Sight disclosed an agreement with the developer of bionic vision systems in which Second sight will raise at least $25 million in working capital, Pixium will contribute to Second Sight certain assets in exchange for newly issued Second Sight common stock and Second Sight will transfer its Orion Assets to a newly formed subsidiary, which will be partially spun off to Second Sight shareholders. Second Sight’s stock has advanced 339.4% over the past 12 months, while the S&P 500 SPX, +1.82% has gained 41.6%.
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