Shares of Second Sight Medical Products Inc. EYES, +95.16% soared 104.2% on heavy volume in midday trading Monday, bringing its two-day gain to 728.7%, after the Food and Drug Administration approved the company’s Argus 2s Retinal Prosthesis System for the treatment of retinitis pigmentosa (RP). The stock paced all gainers on major U.S. exchanges, and was the most actively traded, as trading volume swelled to 222.6 million shares, compared with the full-day average of 26.5 million shares. The stock had soared a record 304.9% on record volume of 739.7 million shares on Friday. The company said Friday it received FDA approval of its Argus 2s system, which is a redesigned set of eternal hardware — glasses and video processing unit — initially for use in combination with previously implanted Argus II systems to treat RP. “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,” said Chief Executive Matthew Pfeffer. The stock has soared 672.6% over the past three months, while the S&P 500 SPX, +0.85% has tacked on 4.3%.
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