EYECARE: Eye Health Second Sight Reports Fourth Quarter and Year End 2015 Financial Results By Staff Monday, March 7, 2016 12:22 AM SYLMAR, Calif.—Second Sight Medical Products (NASDAQ: EYES), developer of the Argus II Retinal Prosthesis System, reported a 55 percent gain in net revenue to $2.4 million in the fourth quarter ended Dec. 31, 2015. Net revenue for the full year 2015 grew 163 percent to $8.9 million.The company, based here, said it implanted 21 Argus II Systems worldwide during the fourth quarter of 2015 for a total of 75 implants in 2015. This compares to 15 implants in the fourth quarter of 2014 and a total of 29 implants in 2014, representing implant volume growth of 40 percent and 159 percent respectively.Second Sight said its gross margin increased to 29 percent versus 7 percent during the fourth quarter of 2014 and 41 percent for the full year versus a margin of negative 5 percent in 2014. The company reported that it added two new implanting centers during the fourth quarter for a total of 33 worldwide at the end of 2015, compared to 18 at the end of 2014.Additionally, Second Sight said it successfully implanted four of the five subjects in its Dry Age-Related Macular Degeneration (AMD) clinical trial in the U.K. The company ended 2015 with Medicare coverage for four Medicare Administrative Contractor (MACs) regions across 16 states, compared with one MAC jurisdiction covering four states at the end of 2014; it added one MAC jurisdiction in February 2016 covering Florida, Puerto Rico and the U.S. Virgin Islands bringing the current total to five MAC jurisdictions across 17 states. The company also said it signed an exclusive agreement with Tecnosalud to distribute the Argus II in Argentina; and filed a rights offering on Jan. 25, 2016 for existing shareholders to raise up to $20 million."In 2015, Second Sight invested in building the foundation of our business while delivering strong revenue growth," stated Will McGuire, CEO. "We nearly doubled our global footprint and recently expanded MAC coverage to 17 states and two U.S. territories. We plan to build upon these successes while focusing on overcoming U.S. reimbursement challenges and penetrating our targeted markets in 2016.”