In a recent transaction, Manohar K. Raheja, Executive Vice President of Research & Development at Sight Sciences , Inc. (NASDAQ:SGHT), purchased 4,624 shares of the company's common stock. The shares were acquired at a weighted average price of $3.988, with the purchase totaling approximately $18,440. Following this transaction, Raheja's direct ownership stands at 102,624 shares. The shares were bought in multiple transactions at prices ranging from $3.97 to $3.99.
In other recent news, Sight Sciences, Inc. reported a modest year-over-year revenue increase in its third-quarter earnings call, despite not meeting analyst expectations. The company's third-quarter revenue rose by 1% to $20.2 million, primarily driven by its surgical glaucoma segment. However, the company is facing challenges in the surgical glaucoma market, which experienced an 8% sequential decrease in revenue.
In response to these commercial challenges, Sight Sciences has outlined strategic initiatives aimed at enhancing sales performance and market access. A key focus will be on expanding the market for its TearCare technology. Additionally, the company has appointed Dr. MK Raheja as Executive Vice President of Research and Development to advance their surgical glaucoma pipeline.
Despite current setbacks, Sight Sciences is optimistic about its growth prospects in the surgical glaucoma and dry eye segments in 2025. The company has forecasted full-year revenue between $81 million and $83 million and is contesting the final 2025 Medicare payment rule, which did not grant device-intensive status to OMNI procedures, a development that could impact future growth. These are some of the most recent developments at Sight Sciences.
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