Financial Performance - Sight Sciences, Inc. reported a quarterly loss of $0.25 per share, better than the Zacks Consensus Estimate of a loss of $0.31, and improved from a loss of $0.30 per share a year ago, representing an earnings surprise of 19.35% [1] - The company posted revenues of $21.37 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 0.25%, but down from $23.47 million in the same quarter last year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Stock Performance - Sight Sciences shares have increased approximately 50.8% since the beginning of the year, significantly outperforming the S&P 500's gain of 15.8% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.26 on revenues of $21.09 million, and for the current fiscal year, it is -$1.13 on revenues of $84.15 million [7] Industry Outlook - The Medical - Instruments industry, to which Sight Sciences belongs, is currently ranked in the bottom 42% of over 250 Zacks industries, indicating potential challenges ahead [8] - The performance of Sight Sciences' stock may be influenced by the overall outlook for the industry, as research indicates that the top 50% of Zacks-ranked industries outperform the bottom 50% by more than 2 to 1 [8]

© 2024 Sight Sciences. All rights reserved. The Sustainability Report includes: Governance Practices: Disclosure of Sight Sciences' governance framework, ethical standards, and commitment to transparency and accountability, including reporting on information security breaches. For additional information and highlights, please see the full Sustainability Report, which can be found here. All Environmental, Social, and Governance ("ESG") practices are overseen by the Company's Nominating and Corporate Governan ...

MENLO PARK, Calif., June 10, 2024 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT) ("Sight Sciences," or the "Company"), an eyecare technology company focused on developing and commercializing innovative, interventional technologies that elevate the standard of care, announced today that it has published its first Sustainability Report, highlighting the Company's sustainability activities, performance, and results from the last three years. Environmental Initiatives: Details of Sight Sciences' effort ...

Core Insights - Sight Sciences, Inc. announced the twelve-month results from the SAHARA trial, demonstrating the effectiveness of TearCare in treating dry eye disease (DED) compared to Restasis [1][3][11] Study Results - Patients previously treated with Restasis showed clinically meaningful improvements in DED symptoms after switching to TearCare, with benefits lasting for six months post-treatment [2][6] - Phase 2 of the SAHARA trial confirmed that TearCare is effective regardless of prior Restasis treatment, indicating its potential as both a primary and secondary treatment option for DED [3][4] - The trial included 345 subjects in Phase 1 and 163 patients crossed over to TearCare in Phase 2, with significant improvements in tear break-up time (TBUT) and other dry eye measures [4][5] Statistical Findings - TBUT improved by 1.1 seconds at three months and 0.6 seconds at twelve months after switching to TearCare, both statistically significant (p<.001) [8] - Other measures, including meibomian gland secretion score (MGSS) and ocular surface disease index (OSDI), also showed significant improvements post-treatment [8][10] - The study reported that mean values for TBUT, MGSS, and other ocular signs improved significantly compared to baseline measurements [10][11] Future Directions - The SAHARA trial will continue into Phase 3, which aims to provide long-term data on the durability and effectiveness of TearCare over a two-year period [11]

MENLO PARK, Calif., May 28, 2024 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT) ("Sight Sciences," or the "Company"), an eyecare technology company focused on developing and commercializing innovative, interventional technologies intended to transform care and improve patients' lives, today announced the publication of the twelve-month results from the SAHARA trial. Patients previously treated with Restasis® (cyclosporine ophthalmic emulsion 0.05%) prescription eyedrops ("Restasis") had additional ...

Core Insights - Sight Sciences, Inc. announced new findings from the ROMEO study, indicating that the OMNI Surgical System is effective in treating advanced glaucoma patients, challenging previous beliefs about treatment efficacy in severe cases [1][2][3] Group 1: Study Findings - The analysis showed that ab interno canaloplasty combined with trabeculotomy using OMNI effectively lowered intraocular pressure (IOP) and reduced medication usage across all glaucoma severity stages [2][3] - Significant reductions in IOP and IOP-reducing medications were observed, with 70% of eyes experiencing IOP reduction at Month 12, and 92% achieving levels of 18 mmHg or less [7] - The mean IOP at Month 12 ranged between 14 mmHg and 16 mmHg across severity groups, indicating consistent treatment outcomes [7] - Medication reductions were noted in 50% to 69% of patients, with the majority showing a reduction of at least one medication [7] - Regression analysis indicated no significant relationship between Month 12 IOP and visual field loss, suggesting treatment effectiveness is independent of disease severity [7] Group 2: Company Overview - Sight Sciences is focused on developing innovative eyecare technologies aimed at transforming patient care and improving lives, particularly through minimally invasive procedures [1][8] - The OMNI Surgical System is FDA-cleared for reducing IOP in adult patients with primary open-angle glaucoma, and it is CE Marked for additional procedures [8] - The company also offers the TearCare System for treating evaporative dry eye disease and the SION Surgical Instrument for ophthalmic surgeries [8]

Core Insights - Sight Sciences, Inc. announced new findings from the ROMEO study, indicating that the OMNI Surgical System is effective in treating advanced glaucoma patients, challenging previous beliefs about treatment efficacy in severe cases [1][2][3] Group 1: Study Findings - The analysis showed that ab interno canaloplasty combined with trabeculotomy using OMNI effectively lowered intraocular pressure (IOP) and reduced medication usage across all severity levels of glaucoma [2][5] - 70% of eyes experienced a reduction in IOP at 12 months, with 92% achieving IOP levels of 18 mmHg or less [5] - The mean IOP at month 12 ranged between 14 mmHg and 16 mmHg, consistent across different severity groups [5] - A significant percentage of patients (50% to 69%) showed a reduction of at least one medication, indicating the treatment's effectiveness [5] - Regression analysis indicated no significant relationship between month 12 IOP and visual field loss, suggesting consistent treatment outcomes regardless of disease severity [5] Group 2: Study Design and Demographics - The ROMEO study was a retrospective case series approved by an Institutional Review Board, conducted at eleven ophthalmology practices in the U.S. [3] - The majority of participants (95%) had primary open-angle glaucoma and underwent the implant-free OMNI procedure, which is FDA-cleared for canaloplasty and trabeculotomy [3][4] Group 3: Company Vision and Technology - Sight Sciences aims to transform eyecare through innovative, minimally invasive technologies that address the underlying causes of prevalent eye diseases [8] - The OMNI Surgical System is indicated for reducing IOP in adult patients with primary open-angle glaucoma and is CE marked for additional procedures [8] - The company is committed to providing effective treatment options for glaucoma patients at all disease stages, reinforcing its dedication to advancing eyecare technology [6]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from __________ to ____________ Commission File Number: 001-40587 SIGHT SCIENCES, INC. (Exact Name of Registrant as Specified in its Charter) Delaware 80-0625749 (St ...

Sight Sciences, Inc. (NASDAQ:SGHT) Q1 2024 Earnings Conference Call May 2, 2024 4:30 PM ET Company Participants Philip Trip Taylor - Investor Relations Paul Badawi - Co-Founder and Chief Executive Officer Alison Bauerlein - Chief Financial Officer Matthew Link - Chief Commercial Officer Conference Call Participants David Saxon - Needham & Company James Beers - William Blair Thomas Stephan - Stifel Operator Good day, and thank you for standing by. Welcome to the Sight Sciences First Quarter 2024 Earnings Res ...

[Special Note Regarding Forward-Looking Statements](index=4&type=section&id=Special%20Note%20Regarding%20Forward-Looking%20Statements) This section highlights forward-looking statements in the 10-K, subject to risks and uncertainties, advising against undue reliance - The report contains forward-looking statements covered by safe harbor provisions, subject to risks, uncertainties, assumptions, and other factors described in the 'Risk Factors' section, advising investors not to unduly rely on them as predictions of future events[10](index=10&type=chunk)[12](index=12&type=chunk)[14](index=14&type=chunk) - Key factors that could cause actual results to differ include the ability to obtain and maintain sufficient reimbursement, market entry and competition, the impact of strategic realignment, intellectual property protection, and extensive government regulation[11](index=11&type=chunk) PART I [Item 1. Business](index=7&type=section&id=Item%201.%20Business) Sight Sciences, Inc. is an ophthalmic medical device company developing interventional technologies for glaucoma and dry eye disease (DED) [Overview](index=7&type=section&id=Overview) Sight Sciences is an ophthalmic medical device company developing interventional technologies for glaucoma and dry eye disease, focusing on restoring natural physiological function - The company's mission is to develop transformative, interventional technologies for eyecare, focusing on preserving, protecting, and restoring natural physiological functionality to diseased eyes[19](index=19&type=chunk) - Initial product development focuses on glaucoma and dry eye disease (DED), with estimated annual addressable U.S. markets of **$6.0 billion for surgical glaucoma** and **$2.5 billion for dry eye**[20](index=20&type=chunk) - Surgical Glaucoma products (OMNI and SION) accounted for **92% of total revenues in 2023**, while Dry Eye products (TearCare) accounted for **8%**[25](index=25&type=chunk)[29](index=29&type=chunk) [Our Solutions](index=9&type=section&id=Our%20Solutions) Sight Sciences designs OMNI, SION, and TearCare as interventional ophthalmology technologies to address underserved markets in glaucoma and dry eye disease - OMNI, SION, and TearCare are designed as interventional ophthalmology technologies to address significantly underserved markets in glaucoma and DED[33](index=33&type=chunk) [Our Product Development Approach](index=9&type=section&id=Our%20Product%20Development%20Approach) The company's product development approach is guided by principles focused on understanding disease physiology, treating underlying causes, intuitive design, strong clinical evidence, and ensuring patient access - Product development is governed by fundamental principles: comprehensive understanding of disease physiology, treatment of underlying causes with an interventional mindset, intuitive design, strong clinical evidence, and patient access[34](index=34&type=chunk)[37](index=37&type=chunk) [OMNI Surgical System](index=9&type=section&id=OMNI%20Surgical%20System) The OMNI Surgical System is a handheld, single-use therapeutic technology for Microinvasive Glaucoma Surgery (MIGS) that addresses all three known areas of resistance in the eye's conventional outflow pathway - OMNI enables a comprehensive MIGS procedure addressing all three known areas of resistance in the conventional outflow pathway: the trabecular meshwork, Schlemm's canal, and the distal collector channels[36](index=36&type=chunk)[37](index=37&type=chunk) - OMNI is FDA 510(k) cleared for canaloplasty and trabeculotomy to reduce IOP in adult POAG patients, for both standalone and combination cataract procedures[36](index=36&type=chunk) - A version of OMNI capable of delivering **21 microliters of OVD** was FDA 510(k) cleared in August 2023 for the same indications but has not yet been released to market[36](index=36&type=chunk) [SION Surgical Instrument](index=10&type=section&id=SION%20Surgical%20Instrument) Introduced in Q3 2022, SION is a bladeless, Class I 510(k) exempt device for excising trabecular meshwork in ophthalmic surgical procedures, targeting specific subsets of cataract MIGS surgeons - SION, introduced in the third quarter of 2022, is a bladeless, Class I 510(k) exempt device used to excise trabecular meshwork in ophthalmic surgical procedures[41](index=41&type=chunk) - SION targets specific subsets of combination cataract MIGS surgeons: high-volume, less experienced (e.g., surgical fellows), and those seeking cost-effective procedures, with very little overlap with OMNI's use cases[42](index=42&type=chunk) [TearCare System](index=10&type=section&id=TearCare%20System) The TearCare system is a proprietary, interventional dry eye device designed to treat evaporative DED caused by Meibomian Gland Disease (MGD) by applying heat and facilitating meibum removal - TearCare is a proprietary, interventional dry eye device designed to melt and facilitate the comprehensive removal of meibomian gland obstructions and restore gland functionality and healthy oil production[28](index=28&type=chunk)[43](index=43&type=chunk)[47](index=47&type=chunk) - The system comprises a reusable SmartHub™ and single-use, software-controlled, wearable SmartLids® that deliver precise heat to the eyelids, allowing patients to blink naturally during the thermal portion of the procedure[44](index=44&type=chunk)[46](index=46&type=chunk) - TearCare received FDA clearance in December 2021 for localized heat therapy in adult patients with evaporative DED due to MGD, when used in conjunction with manual expression, with a next-generation product cleared in December 2023 but not yet launched[48](index=48&type=chunk) [Our Success Factors & Growth Strategy](index=11&type=section&id=Our%20Success%20Factors%20%26%20Growth%20Strategy) The company's success is driven by transformative technologies, continuous innovation, and clinical excellence, with a growth strategy focused on robust clinical data, market expansion, and commercial capabilities - Success factors include large market opportunities, continual development of transformative technologies, consistent delivery of exceptional customer experience, prioritization of clinical and commercial excellence, focus on compelling economics, and scaling the team based on core behaviors[49](index=49&type=chunk) - Growth strategies involve establishing OMNI and SION as standards of care, developing and expanding the Standalone MIGS segment with OMNI, driving fair market access to TearCare leveraging SAHARA and OLYMPIA trials, and expanding into additional international markets[53](index=53&type=chunk) [Clinical Data](index=12&type=section&id=Clinical%20Data) Sight Sciences is committed to being a clinical leader, conducting robust clinical trial programs for POAG and MGD, leveraging published results to drive product awareness and adoption - The company is deeply committed to conducting studies to evaluate the safety, effectiveness, and durability of treatments using its products, and subjecting the results to rigorous peer review for publication[50](index=50&type=chunk) - Ongoing and planned clinical studies for OMNI include EVOLVE (RCT vs. standard medical care), IRIS® Registry (retrospective, real-world data), Meta Analysis, and PANGEA (multinational RCT)[53](index=53&type=chunk) - For TearCare, the OLYMPIA RCT showed statistically significant clinical improvements in DED signs and symptoms, and the SAHARA RCT demonstrated superiority over Restasis® eyedrops for TBUT improvement[54](index=54&type=chunk)[55](index=55&type=chunk)[56](index=56&type=chunk) [Commercial Approach](index=13&type=section&id=Commercial%20Approach) Sight Sciences employs a direct sales organization with specialized teams for Surgical Glaucoma and Dry Eye, focusing on increasing awareness and adoption through clinical data and professional education - The company has built a world-class direct sales commercial organization with professionals and executives experienced in launching new technologies and securing market access[58](index=58&type=chunk) - Distinct sales, marketing, and training teams support Surgical Glaucoma (OMNI, SION to ASCs/HOPDs) and Dry Eye (TearCare to optometry/ophthalmology practices) segments[59](index=59&type=chunk) - Commercial efforts are centered around increasing awareness and presenting clinical study results through medical publications and industry meetings, supported by approximately **130 commercial professionals** as of December 31, 2023[58](index=58&type=chunk)[60](index=60&type=chunk) [Seasonality](index=14&type=section&id=Seasonality) Sales may be impacted by seasonal factors, typically showing higher procedure volumes in Q2 and Q4, though this can vary due to external market uncertainties - Sales may be impacted by seasonal factors, typically experiencing higher procedure volumes in the second and fourth quarters versus the first and third quarters[61](index=61&type=chunk) - Seasonality can vary year-over-year, as demand was softer in Q4 2023 due to the impacts of Draft LCDs that were ultimately withdrawn but created demand uncertainty[61](index=61&type=chunk) [Reimbursement](index=14&type=section&id=Reimbursement) Reimbursement is crucial for product adoption, with Medicare coverage for non-implant MIGS and varying private payor coverage for Surgical Glaucoma products, while TearCare is primarily cash-pay with ongoing efforts to secure formal coverage - Medicare coverage for non-implant MIGS procedures (OMNI, SION) is available, and private payor coverage varies, with an estimated **79% of medical benefit covered lives** having reimbursed access to canaloplasty procedures as of December 31, 2023[64](index=64&type=chunk)[65](index=65&type=chunk) - Multiple procedure payment reduction rules apply in ASCs and HOPDs for concomitant procedures, affecting payment for lower-cost procedures[67](index=67&type=chunk) - TearCare is not currently covered by Medicare or private payors via formal medical policy and is primarily cash-pay, with the company generating clinical data (SAHARA, OLYMPIA) to support positive coverage decisions and a permanent Category I CPT code[71](index=71&type=chunk)[72](index=72&type=chunk)[75](index=75&type=chunk)[78](index=78&type=chunk) Medicare National Unadjusted Average Payment Rates (2023 vs. 2024) | HCPCS Code | Descriptor | HOPD Facility Payment Rate 2023 | HOPD Facility Payment Rate 2024 | ASC Facility Payment Rate 2023 | ASC Facility Payment