Vivani Medical (VANI) 10-Q 4 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 02, 2016
Document And Entity Information
Entity Registrant Name	SECOND SIGHT MEDICAL PRODUCTS INC
Entity Central Index Key	1,266,806
Document Type	10-Q
Trading Symbol	EYES
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity a Well-known Seasoned Issuer	No
Entity a Voluntary Filer	No
Entity's Reporting Status Current	Yes
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		42,246,954
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2,016

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current assets:
Cash	$ 277	$ 239
Money market funds	17,546	15,721
Accounts receivable, net	447	1,501
Inventories, net	5,810	8,209
Prepaid expenses and other current assets	603	1,094
Total current assets	24,683	26,764
Property and equipment, net	1,527	1,432
Deposits and other assets	55	49
Total assets	26,265	28,245
Current liabilities:
Accounts payable	694	710
Accrued expenses	1,711	2,068
Accrued compensation expenses	2,055	2,069
Accrued clinical trial expenses	555	616
Deferred revenue	195	322
Deferred grant revenue	456	2,197
Total current liabilities	5,666	7,982
Commitments and contingencies
Stockholders' equity:
Preferred stock, no par value, 10,000 shares authorized; none outstanding
Common stock, no par value, 200,000 shares authorized; shares issued and outstanding: 42,247 and 35,942 at September 30, 2016 and December 31, 2015, respectively	186,618	166,049
Common stock to be issued	87	205
Additional paid-in capital	29,911	27,277
Notes receivable to finance stock option exercises	(2)	(5)
Accumulated other comprehensive loss	(524)	(581)
Accumulated deficit	(195,491)	(172,682)
Total stockholders' equity	20,599	20,263
Total liabilities and stockholders' equity	$ 26,265	$ 28,245

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, no par value (in dollars per share)
Preferred stock, authorized	10,000	10,000
Preferred stock, outstanding	0	0
Common stock, no par value (in dollars per share)
Common stock, authorized	200,000	200,000
Common stock, issued	42,247	35,942
Common stock, outstanding	42,247	35,942

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
Net sales	$ 1,180	$ 2,227	$ 3,270	$ 6,588
Cost of sales	2,615	757	6,768	3,622
Gross profit (loss)	(1,435)	1,470	(3,498)	2,966
Operating expenses:
Research and development, net of grants	1,588	593	3,266	2,490
Clinical and regulatory	609	984	1,955	2,543
Selling and marketing	2,262	2,132	6,473	6,425
General and administrative	2,605	2,423	7,635	6,079
Total operating expenses	7,064	6,132	19,329	17,537
Loss from operations	(8,499)	(4,662)	(22,827)	(14,571)
Interest income	11		19	1
Other income (expense), net	(1)	(4)	(1)	25
Net loss	$ (8,489)	$ (4,666)	$ (22,809)	$ (14,545)
Net loss per common share - basic and diluted (in dollars per share)	$ (0.20)	$ (0.13)	$ (0.57)	$ (0.41)
Weighted average common shares outstanding - basic and diluted (in shares)	42,220	35,836	39,929	35,555

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Loss (unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Condensed Consolidated Statements Of Comprehensive Loss
Net loss	$ (8,489)	$ (4,666)	$ (22,809)	$ (14,545)
Other comprehensive income (loss):
Foreign currency translation adjustments	34	(70)	57	(72)
Comprehensive loss	$ (8,455)	$ (4,736)	$ (22,752)	$ (14,617)

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities:
Net loss	$ (22,809)	$ (14,545)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization of property and equipment	311	231
Stock-based compensation	2,581	1,918
Bad debt expense	191
Excess inventory reserve	2,611
Common stock issuable for services	206	233
Changes in operating assets and liabilities:
Accounts receivable	874	(600)
Inventories	(166)	(2,416)
Prepaid expenses and other assets	492	195
Accounts payable	(16)	31
Accrued expenses	(377)	469
Accrued compensation expenses	(15)	888
Accrued clinical trial expenses	(61)	68
Deferred revenue	(135)	184
Deferred grant revenue	(1,741)	(1,308)
Net cash used in operating activities	(18,054)	(14,652)
Cash flows from investing activities:
Purchases of property and equipment	(406)	(578)
(Investment) proceeds from money market funds	(1,820)	12,599
Net cash provided by (used) in investing activities	(2,226)	12,021
Cash flows from financing activities:
Net proceeds from rights offering	19,483
Proceeds from the exercise of options, warrants and employee stock purchase plan options	816	2,476
Payment of employment taxes related to stock option exercises		(124)
Net cash provided by financing activities	20,299	2,352
Effect of exchange rate changes on cash	19	(72)
Cash:
Net increase (decrease)	38	(351)
Balance at beginning of period	239	619
Balance at end of period	277	268
Non-cash financing and investing activities:
Fair value of stock options issued for services rendered in connection with rights offering	$ 53

Organization and Business Opera

Organization and Business Operations	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business Operations	1. Organization and Business Operations Second Sight Medical Products, Inc. (“Second Sight” or “the Company”), was founded in 1998 as a limited liability company and was subsequently incorporated in the State of California in 2003. Second Sight develops, manufactures and markets implantable prosthetic devices that can restore some functional vision to patients blinded by outer retinal degenerations, such as Retinitis Pigmentosa. In 2007, Second Sight formed Second Sight (Switzerland) Sarl, initially to manage clinical trials for its products in Europe, and later to manage sales and marketing in Europe and the Middle East. As the laws of Switzerland require at least two corporate stockholders, Second Sight (Switzerland) Sarl is 99.5% owned directly by the Company and 0.5% owned by an executive of Second Sight, who is acting as a nominee of the Company. Accordingly, Second Sight (Switzerland) Sarl is considered 100% owned for financial statement purposes and is consolidated with Second Sight for all periods presented. Since its inception, the Company has generated limited revenues from the sale of products and has financed its operations primarily through the issuance of common stock, convertible debt (which has been converted into common stock), and grants primarily from government agencies. The Company’s financial statements have been presented on the basis that its business is a going concern, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Company is subject to the risks and uncertainties associated with a business with one product line and limited commercial product revenues, including limitations on the Company’s operating capital resources and uncertain demand for its products. The Company has incurred recurring operating losses and negative operating cash flows since inception, and it expects to continue to incur operating losses and negative operating cash flows for at least the next few years. The Company’s independent registered public accounting firm, in its report on the Company’s 2015 consolidated financial statements, raised substantial doubt about the Company’s ability to continue as a going concern. In June 2016, the Company successfully completed a Rights Offering to existing stockholders, raising proceeds of $19.5 million net of cash offering costs, and selling 5,978,465 shares of common stock at $3.315 per share, representing 85% of the Company’s stock price at the close of the rights offering. The Company believes that it has sufficient funds to last through the end of the second quarter of 2017. In order to continue business operations past that point, the Company currently anticipates that it will need to raise additional debt and/or equity capital during the next several months. However, there can be no assurances that the Company will be able to secure any such additional financing on acceptable terms and conditions, or at all. If cash resources become insufficient to satisfy the Company’s ongoing cash requirements, the Company would be required to scale back or discontinue its technology and product development programs and/or clinical trials, or obtain funds, if available (although there can be no certainty), through strategic alliances that may require the Company to relinquish rights to its products, or to discontinue its operations entirely.

Basis of Presentation, Signific

Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation,Significant Accounting Policies and Recent Accounting Pronouncements	2. Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission for Form 10-Q. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet at December 31, 2015 has been derived from the Company’s audited consolidated financial statements. In the opinion of management, these financial statements reflect all normal recurring and other adjustments necessary for a fair presentation. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year or any other future periods. Significant Accounting Policies The Company’s significant accounting policies are set forth in Note 2 of the financial statements in its Annual Report on Form 10-K for the year ended December 31, 2015. Recent Accounting Pronouncements In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) In June 2016, the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718), a new standard that changes the accounting for certain aspects of share-based payments to employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The standard also allows the Company to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting, clarifies that all cash payments made on an employee’s behalf for withheld shares should be presented as a financing activity on the cash flow statement, and provides an accounting policy election to account for forfeitures as they occur. The new standard is effective for the annual periods beginning after December 15, 2016, and interim periods within those annual periods with early adoption permitted. The Company is currently evaluating the impact of the standard on the Company’s financial statements. Management does not believe that any recently issued, but not yet effective, accounting standards, if adopted, will have a material effect on the financial statements.

Concentration of Risk

Concentration of Risk	9 Months Ended
	Sep. 30, 2016
Risks and Uncertainties [Abstract]
Concentration of Risk	3. Concentration of Risk Credit Risk Financial instruments that subject the Company to concentrations of credit risk consist primarily of cash, money market funds, and trade accounts receivable. The Company maintains cash and money market funds with financial institutions that management deems reputable, and at times, cash balances may be in excess of Federal Deposit Insurance Corporation and Securities Investor Protection Corporation insurance limits. The Company extends differing levels of credit to customers, and typically does not require collateral. The Company also maintains a cash balance at a bank in Switzerland, which is insured up to an amount specified by the deposit insurance agency of Switzerland. Customer Concentration During the three and nine months ended September 30, 2016 and 2015 (unaudited), the following customers comprised more than 10% of revenues : Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Customer 1 21 % 0 % 8 % 1 % Customer 2 12 % 6 % 3 % 2 % Customer 3 11 % 12 % 16 % 15 % Customer 4 7 % 13 % 5 % 8 % Customer 5 0 % 13 % 3 % 10 % Customer 6 0 % 0 % 10 % 1 % As of September 30, 2016 and December 31, 2015, the following customers comprised more than 10% of accounts receivable: September 30, December31, 2016 2015 (unaudited) Customer 1 37 % 0 % Customer 2 29 % 17 % Customer 3 21 % 0 % Customer 4 15 % 3 % Customer 5 0 % 19 % Customer 6 0 % 10 % Customer 7 0 % 10 % Customer 8 0 % 10 % Geographic Concentration During the three and nine months ended September 30, 2016 and 2015 (unaudited), regional revenue, based on customer location, consisted of the following: Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 United States 47 % 56 % 47 % 46 % Germany 35 % 4 % 15 % 5 % Italy 11 % 12 % 21 % 20 % France 7 % 11 % 8 % 18 % Canada 0 % 13 % 3 % 6 % Turkey 0 % 4 % 5 % 3 % Sources of Supply Several of the components, materials and services used in the Company’s current Argus II product are available from only one supplier, and substitutes for these items cannot be obtained easily or would require substantial design or manufacturing modifications. Any significant problem experienced by one of the Company’s sole source suppliers could result in a delay or interruption in the supply of components to the Company until that supplier cures the problem or an alternative source of the component is located and qualified. Even where the Company could qualify alternative suppliers, the substitution of suppliers may be at a higher cost and create time delays that impede the commercial production of the Argus II and impact the Company’s abilities to deliver its products as may be timely required to meet demand. Foreign Operations The accompanying condensed consolidated financial statements as of September 30, 2016 (unaudited) and December 31, 2015 include assets amounting to $2,228,000 and $3,041,000, respectively, relating to operations of the Company’s subsidiary based in Switzerland. It is possible that unanticipated events in foreign countries could disrupt the Company’s operations.

Money Market Funds

Money Market Funds	9 Months Ended
	Sep. 30, 2016
Cash and Cash Equivalents [Abstract]
Money Market Funds	4. Money Market Funds The authoritative guidance with respect to fair value establishes a fair value hierarchy that prioritizes the inputs to valuation techniques used to measure fair value into three levels, and requires that assets and liabilities carried at fair value be classified and disclosed in one of three categories, as presented below. Disclosure as to transfers in and out of Levels 1 and 2, and activity in Level 3 fair value measurements, is also required. Level 1. Observable inputs such as quoted prices in active markets for an identical asset or liability that the Company has the ability to access as of the measurement date. Financial assets and liabilities utilizing Level 1 inputs include active-exchange traded securities and exchange-based derivatives. Level 2. Inputs, other than quoted prices included within Level 1, which are directly observable for the asset or liability or indirectly observable through corroboration with observable market data. Financial assets and liabilities utilizing Level 2 inputs include fixed income securities, non-exchange based derivatives, mutual funds, and fair-value hedges. Level 3. Unobservable inputs in which there is little or no market data for the asset or liability which requires the reporting entity to develop its own assumptions. Financial assets and liabilities utilizing Level 3 inputs include infrequently-traded non-exchange-based derivatives and commingled investment funds, and are measured using present value pricing models. Money market funds are the only financial instrument measured and recorded at fair value on the Company’s balance sheet, and they are considered Level 1 valuation securities. The following table presents money market funds at their level within the fair value hierarchy at September 30, 2016 and December 31, 2015 (in thousands): Total Level 1 Level 2 Level 3 September 30, 2016 (unaudited): Money market funds $ 17,546 $ 17,546 $ — $ — December 31, 2015: Money market funds $ 15,721 $ 15,721 $ — $ —

Selected Balance Sheet Detail

Selected Balance Sheet Detail	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Selected Balance Sheet Detail	5. Selected Balance Sheet Detail Inventories, net Inventories consisted of the following at (in thousands): September 30, December 31, 2016 2015 (unaudited) Raw materials $ 470 $ 575 Work in process 4,920 5,028 Finished goods 3,499 3,156 8,889 8,759 Allowance for excess and obsolescence (3,079 ) (550 ) Inventories, net $ 5,810 $ 8,209 Property and equipment, net of accumulated depreciation and amortization Property and equipment consisted of the following at (in thousands): September 30, December 31, 2016 2015 (unaudited) Laboratory equipment $ 3,594 $ 3,369 Computer hardware and software 2,117 1,960 Leasehold improvements 533 508 Furniture, fixtures and equipment 135 135 6,379 5,972 Accumulated depreciation and amortization (4,852 ) (4,540 ) Property and equipment, net $ 1,527 $ 1,432

Long Term Investor Right

Long Term Investor Right	9 Months Ended
	Sep. 30, 2016
Long Term Investor Right
Long Term Investor Right	6. Long Term Investor Right Investors who purchased shares in the Company’s IPO, and who complied with certain terms and conditions, such as holding their IPO shares in their name during the twenty-four month period following the closing of the IPO, are entitled under certain conditions to receive up to one additional share for each share they purchased in the IPO. For a more complete discussion of the Long Term Investor Right, see Note 2 in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. As of September 30, 2016, the Company identified investors who had perfected and maintained Long Term Investor Rights in 1,181,927 shares of common stock that were acquired as part of the Company’s IPO. The highest average closing price for the Company’s common stock on NASDAQ during any consecutive 90 day period ended on or before September 30, 2016 was $13.96. Based on this average closing stock price, an investor who purchased shares as part of the IPO, and who has perfected its Long Term Investor Right, would be entitled to 0.2894 shares for each share purchased in the IPO, rounded up to the next whole share, which represents an aggregate maximum of 342,089 shares that are potentially issuable by the Company pursuant to the Long Term Investor Right at that date. The actual number of common shares issuable pursuant to the Long Term Investor Right is dependent on the future stock price of the Company over the two year period subsequent to the November 24, 2014 closing date of the IPO, and could be as high as 342,089 shares and as low as zero shares. The Long Term Investor Right is an equity instrument that will be accounted for as a component of the actual price per common share paid by the investor in the IPO. For basic earnings per share, the common shares associated with the Long Term Investor Right are treated as contingently issuable shares and are not being included in basic earnings per share until the actual number of shares can be calculated and the shares have been issued.

Equity Securities

Equity Securities	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Equity Securities	7. Equity Securities Common Stock Issuable Beginning with services rendered in 2014, and with payments in June 2015 and 2016, non-employee members of the Board of Directors are paid for their services in common stock on June 1 of each year based on the average closing prices for the immediately preceding twenty trading days. As of September 30, 2016, the Company accrued $87,000 for these services, which equates to 26,274 shares. These shares have not yet been issued and are excluded from the calculation of weighted average common shares outstanding for EPS purposes. Potentially Dilutive Common Stock Equivalents At September 30, 2016 and 2015 (unaudited), the Company excluded the outstanding securities summarized below, which entitle the holders thereof to ultimately acquire shares of common stock, from its calculations of earnings per share and weighted average shares outstanding, as their effect would have been anti-dilutive (in thousands). September 30, September 30, 2016 2015 Long Term Investor Rights 342 412 Underwriter’s warrants 802 802 Warrants associated with convertible debt 1,038 1,038 Common stock options 3,669 3,505 Restricted stock units 142 190 Employee stock purchase plan 109 75 Total 6,102 6,022 Rights Offering In June 2016, the Company completed a Rights Offering to existing stockholders by selling 5,978,465 shares of common stock. The Company evaluated the financial impact of FASB ASC 260, "Earnings per Share," which states, among other things, that if a rights issue is offered to all existing stockholders at an exercise price that is less than the fair value of the stock, then the weighted average shares outstanding and basic and diluted earnings per share shall be adjusted retroactively to reflect the bonus element of the rights offering for all periods presented. The Company determined that the application of this specific provision of ASC 260 was immaterial to previously issued financial statements and, therefore, did not retroactively adjust previously reported weighted average shares outstanding and basic and diluted earnings per share.

Warrants

Warrants	9 Months Ended
	Sep. 30, 2016
Warrants
Warrants	8. Warrants A summary of warrant activity for the nine months ended September 30, 2016 (unaudited) is presented below (in thousands, except per share and contractual life data). Weighted Average Weighted Remaining Number of Average Contractual Shares Exercise Price Life (in Years) Warrants outstanding at December 31, 2015 1,840 $ 7.72 2.80 Granted — Exercised — Forfeited or expired — Warrants outstanding at September 30, 2016 1,840 $ 7.72 2.06 Warrants exercisable at September 30, 2016 1,840 $ 7.72 2.06 The intrinsic value of warrants outstanding at September 30, 2016 was $0. During the nine months ended September 30, 2016, no warrants were exercised.

Stock-Based Compensation

Stock-Based Compensation	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation	9. Stock-Based Compensation On May 10, 2016, the stockholders approved amendments to the Company’s 2011 Equity Incentive Plan that (i) increase the maximum number of shares of common stock that may be issued under the Plan from 6.0 million shares to 7.5 million shares, (ii) allow issuance of Restricted Stock Units, and (iii) permit repricing and exchanges of options at the discretion of the Board of Directors. Under the 2003 Plan, as restated in June 2011, the Company was authorized to issue options covering up to 3,500,000 common stock shares. Effective June 1, 2011, the Company adopted the 2011 Equity Incentive Plan (the “2011 Plan”). The maximum number of shares with respect to which options may be granted under the 2011 Plan is 7,500,000 shares, which is offset and reduced by options previously granted under the 2003 Plan. The option price is determined by the Board of Directors but cannot be less than the fair value of the shares at the grant date. Generally, the options vest ratably over either four or five years and expire ten years from the grant date. Both plans provide for accelerated vesting if there is a change of control, as defined in the plans. A summary of stock option activity for the nine months ended September 30, 2016 (unaudited) is presented below (in thousands, except per share and contractual life data). Weighted Average Weighted Remaining Number of Average Contractual Shares Exercise Price Life (in Years) Options outstanding at December 31, 2015 3,472 $ 8.01 6.39 Granted 690 $ 4.33 Exercised (96 ) $ 5.00 Forfeited or expired (397 ) $ 9.03 Options outstanding at September 30, 2016 3,669 $ 7.28 6.45 Options exercisable at September 30, 2016 1,934 $ 6.54 4.40 The estimated aggregate intrinsic value of stock options exercisable at September 30, 2016 was $0. As of September 30, 2016, there was $6.9 million of total unrecognized compensation cost related to outstanding stock options that will be recognized over a weighted average period of 2.84 years. On January 1, 2015, the Company’s current Chairman, who at the time was the Chief Executive Officer, exercised stock options on a cashless basis to purchase 59,063 shares of common stock at an exercise price of $4.75 per share. Based on the closing market price of the Company’s common stock of $10.26 on December 31, 2014, the Chief Executive Officer tendered 27,344 shares of common stock that he owned to satisfy the aggregate exercise price and surrendered 12,055 shares of common stock to satisfy the related $123,684 income and payroll tax withholding amounts related to the transaction. During the nine months ended September 30, 2016, the Company granted stock options to purchase 659,973 shares of common stock to certain employees and contractors. The options are exercisable for a period of ten years from the date of grant at prices ranging from $3.44 to $5.16 per share, which was the fair value of the Company’s common stock on the respective grant dates. The options vest over a period of four years. The fair value of these options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $1,350,000 ($1.64 to $2.47 per share). Assumptions used in the model were an expected term of 6.25 years, volatility of 48.2%, a risk-free interest rate of 1.40% to 1.87%, and an expected dividend rate of 0%. During the nine months ended September 30, 2016, the Company issued 95,493 shares of common stock through exercises of stock options that resulted in net proceeds of $479,000. During the nine months ended September 30, 2016, the Company granted stock options to purchase 30,000 shares of common stock to an outside attorney in connection with his services relating to the Company’s rights offering to stockholders. The options have fully vested and are exercisable for a period of four years from the date of grant at a price of $5.23 per share, which was 125% of the fair value of the Company’s common stock on the grant date of January 14, 2016. The fair value of these options, as calculated pursuant to the Black-Scholes option-pricing model, was determined to be $53,000 ($1.77 per share). Assumptions used in the model were an expected term of 6.25 years, volatility of 48.2%, a risk-free interest rate of 1.87%, and an expected dividend rate of 0%. The cost of these shares was treated as an issuance cost of the offering and was deducted from the gross proceeds from the offering. During the first quarter of 2016, the Company recorded a charge of $55,000 to extend the exercise period of 98,681 vested options for one employee who resigned and became a consultant for the Company. All unvested options for this employee were terminated when this employee ceased full-time employment with the Company. The following table summarizes Restricted Stock Unit (RSU) activity for the nine months ended September 30, 2016 (in thousands, except per share data): Weighted Average Grant Number Date Fair Value of Awards Per Share Outstanding as of December 31, 2015 190 $ 12.43 Awarded - - Vested (48 ) - Forfeited/canceled - - Outstanding as of September 30, 2016 142 $ 12.43 As of September 30, 2016, there was $1,699,000 of total unrecognized compensation cost related to the outstanding RSUs that will be recognized over a weighted average period of 2.88 years. On August 18, 2016, of the 190,000 RSUs held by the Company’s Chief Executive Officer, 47,500 RSUs vested at a market price of $3.76 per share. The Company adopted an employee stock purchase plan (“ESPP”) starting in June 2015 for all eligible employees. Under the ESPP, shares of the Company's common stock may be purchased at six-month intervals at 85% of the lower of the closing fair market value of the common stock (i) on the first trading day of the offering period or (ii) on the last trading day of the purchase period. An employee may purchase in any one calendar year shares of common stock having an aggregate fair market value of up to $25,000 determined as of the first trading day of the offering period. Additionally, a participating employee may not purchase more than 100,000 shares of common stock in any one offering period. At September 30, 2016, 154,225 shares had been issued under the plan. Proceeds from the purchase of stock under the plan totaled $337,000 for the nine months ended September 30, 2016. The total stock-based compensation recognized for stock-based awards granted under the 2003 Plan and the 2011 Plan in the condensed consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 (unaudited) is as follows (in thousands): Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Cost of sales $ 80 $ 103 $ 245 $ 265 Research and development 77 99 238 217 Clinical and regulatory 43 84 136 206 Selling and marketing 74 127 59 312 General and administrative 624 443 1,903 918 Total $ 898 $ 856 $ 2,581 $ 1,918

Litigation, Claims and Assessme

Litigation, Claims and Assessments	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Litigation, Claims and Assessments	10. Litigation, Claims and Assessments Fifteen oppositions have been filed by a third-party in the European Patent Office, each challenging the validity of a European patent owned or exclusively licensed by the Company. The outcome of the challenges is not certain, however, if successful, they may affect the Company's ability to block competitors from utilizing some of its patented technology in Europe. Management of the Company does not believe any successful challenges will have a material effect on the Company’s ability to manufacture and sell its products, or otherwise have a material effect on its operations. The Company is party to litigation arising in the ordinary course of business. It is management's opinion that the outcome of such matters will not have a material effect on the Company's financial statements.

Basis of Presentation, Signif17

Basis of Presentation, Significant Accounting Policies and Recent Accounting Pronouncements (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with the rules and regulations of the Securities and Exchange Commission for Form 10-Q. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The condensed consolidated balance sheet at December 31, 2015 has been derived from the Company’s audited consolidated financial statements. In the opinion of management, these financial statements reflect all normal recurring and other adjustments necessary for a fair presentation. These consolidated financial statements should be read in conjunction with the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. Operating results for interim periods are not necessarily indicative of operating results for an entire fiscal year or any other future periods.
Significant Accounting Policies	Significant Accounting Policies The Company’s significant accounting policies are set forth in Note 2 of the financial statements in its Annual Report on Form 10-K for the year ended December 31, 2015.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows (Topic 230) In June 2016 the FASB issued ASU 2016-13, Financial Instruments-Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments In March 2016, the FASB issued ASU 2016-09, Improvements to Employee Share-Based Payment Accounting (Topic 718), a new standard that changes the accounting for certain aspects of share-based payments to employees. The new guidance requires excess tax benefits and tax deficiencies to be recorded in the income statement when the awards vest or are settled. In addition, cash flows related to excess tax benefits will no longer be separately classified as a financing activity apart from other income tax cash flows. The standard also allows the Company to repurchase more of an employee’s shares for tax withholding purposes without triggering liability accounting, clarifies that all cash payments made on an employee’s behalf for withheld shares should be presented as a financing activity on the cash flow statement, and provides an accounting policy election to account for forfeitures as they occur. The new standard is effective for the annual periods beginning after December 15, 2016, and interim periods within those annual periods with early adoption permitted. The Company is currently evaluating the impact of the standard on the Company’s financial statements. Management does not believe that any recently issued, but not yet effective, accounting standards, if adopted, will have a material effect on the financial statements.

Concentration of Risk (Tables)

Concentration of Risk (Tables)	9 Months Ended
	Sep. 30, 2016
Risks and Uncertainties [Abstract]
Schedule of revenues, accounts receivable & geographic concentration	Customer Concentration During the three and nine months ended September 30, 2016 and 2015 (unaudited), the following customers comprised more than 10% of revenues : Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Customer 1 21 % 0 % 8 % 1 % Customer 2 12 % 6 % 3 % 2 % Customer 3 11 % 12 % 16 % 15 % Customer 4 7 % 13 % 5 % 8 % Customer 5 0 % 13 % 3 % 10 % Customer 6 0 % 0 % 10 % 1 % As of September 30, 2016 and December 31, 2015, the following customers comprised more than 10% of accounts receivable: September 30, December31, 2016 2015 (unaudited) Customer 1 37 % 0 % Customer 2 29 % 17 % Customer 3 21 % 0 % Customer 4 15 % 3 % Customer 5 0 % 19 % Customer 6 0 % 10 % Customer 7 0 % 10 % Customer 8 0 % 10 % Geographic Concentration During the three and nine months ended September 30, 2016 and 2015 (unaudited), regional revenue, based on customer location, consisted of the following: Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 United States 47 % 56 % 47 % 46 % Germany 35 % 4 % 15 % 5 % Italy 11 % 12 % 21 % 20 % France 7 % 11 % 8 % 18 % Canada 0 % 13 % 3 % 6 % Turkey 0 % 4 % 5 % 3 %

Money Market Funds (Tables)

Money Market Funds (Tables)	9 Months Ended
	Sep. 30, 2016
Cash and Cash Equivalents [Abstract]
Schedule of money market funds	The following table presents money market funds at their level within the fair value hierarchy at September 30, 2016 and December 31, 2015 (in thousands): Total Level 1 Level 2 Level 3 September 30, 2016 (unaudited): Money market funds $ 17,546 $ 17,546 $ — $ — December 31, 2015: Money market funds $ 15,721 $ 15,721 $ — $ —

Selected Balance Sheet Detail (

Selected Balance Sheet Detail (Tables)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of inventories	Inventories consisted of the following at (in thousands): September 30, December 31, 2016 2015 (unaudited) Raw materials $ 470 $ 575 Work in process 4,920 5,028 Finished goods 3,499 3,156 8,889 8,759 Allowance for excess and obsolescence (3,079 ) (550 ) Inventories, net $ 5,810 $ 8,209
Schedule of property and equipment	Property and equipment consisted of the following at (in thousands): September 30, December 31, 2016 2015 (unaudited) Laboratory equipment $ 3,594 $ 3,369 Computer hardware and software 2,117 1,960 Leasehold improvements 533 508 Furniture, fixtures and equipment 135 135 6,379 5,972 Accumulated depreciation and amortization (4,852 ) (4,540 ) Property and equipment, net $ 1,527 $ 1,432

Equity Securities (Tables)

Equity Securities (Tables)	9 Months Ended
	Sep. 30, 2016
Stockholders' Equity Note [Abstract]
Schedule of anti-dilutive securities	At September 30, 2016 and 2015 (unaudited), the Company excluded the outstanding securities summarized below, which entitle the holders thereof to ultimately acquire shares of common stock, from its calculations of earnings per share and weighted average shares outstanding, as their effect would have been anti-dilutive (in thousands). September 30, September 30, 2016 2015 Long Term Investor Rights 342 412 Underwriter’s warrants 802 802 Warrants associated with convertible debt 1,038 1,038 Common stock options 3,669 3,505 Restricted stock units 142 190 Employee stock purchase plan 109 75 Total 6,102 6,022

Warrants (Tables)

Warrants (Tables)	9 Months Ended
	Sep. 30, 2016
Warrants
Schedule of warrant activity	A summary of warrant activity for the nine months ended September 30, 2016 (unaudited) is presented below (in thousands, except per share and contractual life data). Weighted Average Weighted Remaining Number of Average Contractual Shares Exercise Price Life (in Years) Warrants outstanding at December 31, 2015 1,840 $ 7.72 2.80 Granted — Exercised — Forfeited or expired — Warrants outstanding at September 30, 2016 1,840 $ 7.72 2.06 Warrants exercisable at September 30, 2016 1,840 $ 7.72 2.06

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of stock option activity	A summary of stock option activity for the nine months ended September 30, 2016 (unaudited) is presented below (in thousands, except per share and contractual life data). Weighted Average Weighted Remaining Number of Average Contractual Shares Exercise Price Life (in Years) Options outstanding at December 31, 2015 3,472 $ 8.01 6.39 Granted 690 $ 4.33 Exercised (96 ) $ 5.00 Forfeited or expired (397 ) $ 9.03 Options outstanding at September 30, 2016 3,669 $ 7.28 6.45 Options exercisable at September 30, 2016 1,934 $ 6.54 4.40
Schedule of restricted stock unit (RSU) activity	The following table summarizes Restricted Stock Unit (RSU) activity for the nine months ended September 30, 2016 (in thousands, except per share data): Weighted Average Grant Number Date Fair Value of Awards Per Share Outstanding as of December 31, 2015 190 $ 12.43 Awarded - - Vested (48 ) - Forfeited/canceled - - Outstanding as of September 30, 2016 142 $ 12.43
Schedule of stock-based compensation	The total stock-based compensation recognized for stock-based awards granted under the 2003 Plan and the 2011 Plan in the condensed consolidated statements of operations for the three and nine months ended September 30, 2016 and 2015 (unaudited) is as follows (in thousands): Three Months Three Months Nine Months Nine Months Ended Ended Ended Ended September 30, 2016 September 30, 2015 September 30, 2016 September 30, 2015 Cost of sales $ 80 $ 103 $ 245 $ 265 Research and development 77 99 238 217 Clinical and regulatory 43 84 136 206 Selling and marketing 74 127 59 312 General and administrative 624 443 1,903 918 Total $ 898 $ 856 $ 2,581 $ 1,918

Organization and Business Ope24

Organization and Business Operations (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended
	Jun. 30, 2016	Sep. 30, 2016
Right Offering [Member]
Proceeds from issuance or sale of shares	$ 19,500
Number of shares issued upon right offering	5,978,465
Share price (in dollars per share)	$ 3.315
Percentage of company's stock price at the close of the rights offering	85.00%
Second Sight (Switzerland) Sarl [Member]
Ownership percentage by parent		99.50%
Second Sight (Switzerland) Sarl [Member] | Executive Officer [Member]
Ownership percentage by noncontrolling interest		0.50%

Concentration of Risk (Details)

Concentration of Risk (Details) - Sales Revenue, Net [Member]	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Customer 1 [Member]
Customer Concentration	21.00%	0.00%	8.00%	1.00%
Customer 2 [Member]
Customer Concentration	12.00%	6.00%	3.00%	2.00%
Customer 3 [Member]
Customer Concentration	11.00%	12.00%	16.00%	15.00%
Customer 4 [Member]
Customer Concentration	7.00%	13.00%	5.00%	8.00%
Customer 5 [Member]
Customer Concentration	0.00%	13.00%	3.00%	10.00%
Customer 6 [Member]
Customer Concentration	0.00%	0.00%	10.00%	1.00%

Concentration of Risk (Details

Concentration of Risk (Details 1) - Accounts Receivable [Member]	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Customer 1 [Member]
Customer Concentration	37.00%	0.00%
Customer 2 [Member]
Customer Concentration	29.00%	17.00%
Customer 3 [Member]
Customer Concentration	21.00%	0.00%
Customer 4 [Member]
Customer Concentration	15.00%	3.00%
Customer 5 [Member]
Customer Concentration	0.00%	19.00%
Customer 6 [Member]
Customer Concentration	0.00%	10.00%
Customer 7 [Member]
Customer Concentration	0.00%	10.00%
Customer 8 [Member]
Customer Concentration	0.00%	10.00%

Concentration of Risk (Detail27

Concentration of Risk (Details 2)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
UNITED STATES
Customer Concentration	47.00%	56.00%	47.00%	46.00%
ITALY
Customer Concentration	11.00%	12.00%	21.00%	20.00%
TURKEY
Customer Concentration	0.00%	4.00%	5.00%	3.00%
FRANCE
Customer Concentration	7.00%	11.00%	8.00%	18.00%
GERMANY
Customer Concentration	35.00%	4.00%	15.00%	5.00%
CANADA
Customer Concentration	0.00%	13.00%	3.00%	6.00%

Concentration of Risk (Detail28

Concentration of Risk (Details Narrative) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets	$ 26,265	$ 28,245
Second Sight (Switzerland) Sarl [Member]
Assets	$ 2,228	$ 3,041

Money Market Funds (Details)

Money Market Funds (Details) - Money Market Funds [Member] - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Money market funds	$ 17,546	$ 15,721
Level 1 [Member]
Money market funds	17,546	15,721
Level 2 [Member]
Money market funds
Level 3 [Member]
Money market funds

Selected Balance Sheet Detail30

Selected Balance Sheet Detail (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Raw materials	$ 470	$ 575
Work in process	4,920	5,028
Finished goods	3,499	3,156
Inventories, gross	8,889	8,759
Allowance for excess and obsolescence	(3,079)	(550)
Inventories, net	$ 5,810	$ 8,209

Selected Balance Sheet Detail31

Selected Balance Sheet Detail (Details 1) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Property and equipment, gross	$ 6,379	$ 5,972
Accumulated depreciation and amortization	(4,852)	(4,540)
Property and equipment, net	1,527	1,432
Laboratory Equipment [Member]
Property and equipment, gross	3,594	3,369
Computer Hardware and Software [Member]
Property and equipment, gross	2,117	1,960
Leasehold Improvements [Member]
Property and equipment, gross	533	508
Furniture, Fixtures and Equipment [Member]
Property and equipment, gross	$ 135	$ 135

Long Term Investor Right (Detai

Long Term Investor Right (Details Narrative) - IPO [Member]	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Number of shares issued in transaction	1,181,927
Shares price (in dollars per share) | $ / shares	$ 13.36
Maximum [Member]
Subsequent Number of shares issued to Long Term Investor Right	342,089
Minimum [Member]
Subsequent Number of shares issued to Long Term Investor Right	0

Equity Securities (Details)

Equity Securities (Details) - shares	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Total anti-dilutive securities	6,102	6,022
Long Term Investor Rights [Member]
Total anti-dilutive securities	342	412
Underwriter's Warrants [Member]
Total anti-dilutive securities	802	802
Warrants Associated With Convertible Debt [Member]
Total anti-dilutive securities	1,038	1,038
Common Stock Options [Member]
Total anti-dilutive securities	3,669	3,505
Restricted Stock Units [Member]
Total anti-dilutive securities	142	190
Employee Stock Purchase Plan [Member]
Total anti-dilutive securities	109	75

Equity Securities (Details Narr

Equity Securities (Details Narrative) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended
	Jun. 30, 2016	Sep. 30, 2016
Right Offering [Member]
Number of shares issued upon right offering	5,978,465
Non-Employee [Member]
Accrued services		$ 87
Number of shares issued for services		26,274

Warrants (Details)

Warrants (Details)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Class Of Warrant Or Right Number Of Shares [RollForward]
Warrants outstanding at beginning | shares	1,840,000
Warrants outstanding at end | shares	1,840,000
Warrants exercisable at end | shares	1,840,000
Class Of Warrant Or Right Weighted Average Exercise Price [RollForward]
Warrants outstanding at beginning | $ / shares	$ 7.72
Warrants outstanding at end | $ / shares	7.72
Warrants exercisable at end | $ / shares	$ 7.72
Class Of Warrant Or Right Weighted Average Remaining Contractual Life [RollForward]
Warrants outstanding at beginning	2 years 9 months 18 days
Warrants outstanding at end	2 years 21 days
Warrants exercisable at end	2 years 21 days

Warrants (Details Narrative)

Warrants (Details Narrative) $ in Thousands	Sep. 30, 2016USD ($)
Warrants [Member]
Intrinsic value of warrants outstanding	$ 0

Stock-Based Compensation (Detai

Stock-Based Compensation (Details)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding [Roll Forward]
Options outstanding at beginning | shares	3,472,000
Granted | shares	690,000
Exercised | shares	(96,000)
Forfeited or expired | shares	(397,000)
Options outstanding at ending | shares	3,669,000
Options exercisable at ending | shares	1,934,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price [Roll Forward]
Options outstanding at beginning | $ / shares	$ 8.01
Granted | $ / shares	4.33
Exercised | $ / shares	5
Forfeited or expired | $ / shares	9.03
Options outstanding at ending | $ / shares	7.28
Options exercisable at ending | $ / shares	$ 6.54
Share-based Compensation Arrangement by Share-based Payment Award, Options, Weighted Average Remaining Contractual Life [Roll Forward]
Options outstanding at beginning	6 years 4 months 20 days
Options outstanding at ending	6 years 5 months 12 days
Options exercisable at ending	4 years 4 months 24 days

Stock-Based Compensation (Det38

Stock-Based Compensation (Details 1) - Restricted Stock Units [Member]	9 Months Ended
	Sep. 30, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award, Non-Option Equity Instruments, Outstanding [Roll Forward]
Outstanding at beginning | shares	190,000
Awarded | shares
Vested | shares	(48,000)
Forfeited/canceled | shares
Outstanding at ending | shares	142,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Weighted Average Grant Date Fair Value [Roll Forward]
Outstanding at beginning | $ / shares	$ 12.43
Awarded | $ / shares
Vested | $ / shares
Forfeited/canceled | $ / shares
Outstanding at ending | $ / shares	$ 12.43

Stock-Based Compensation (Det39

Stock-Based Compensation (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Total	$ 898	$ 856	$ 2,581	$ 1,918
Cost of Sales [Member]
Total	80	103	245	265
Research and Development [Member]
Total	77	99	238	217
Clinical And Regulatory [Member]
Total	43	84	136	206
Selling and Marketing [Member]
Total	74	127	59	312
General and Administrative [Member]
Total	$ 624	$ 443	$ 1,903	$ 918

Stock-Based Compensation (Det40

Stock-Based Compensation (Details Narrative) - USD ($)	Aug. 18, 2016	May 10, 2016	Jan. 02, 2015	Dec. 31, 2014	Jun. 30, 2015	Mar. 31, 2016	Sep. 30, 2016	Sep. 30, 2015
Number of shares exercised							(96,000)
Exercise price (in dollars per share)							$ 5
Number of options granted							690,000
Share based charges							$ 2,581,000	$ 1,918,000
Restricted Stock Units [Member]
Period of recognized compensation cost							2 years 10 months 17 days
Total non vested unrecognized compensation cost							$ 1,699,000
Mr Jonathan Will McGuire [Member]
Number of shares exercised			59,063
Exercise price (in dollars per share)			$ 4.75
Share price (in dollars per share)				$ 10.26
Number of shares surrendered				12,055
Value of shares surrendered				$ 123,684
Number of options granted				27,344
Mr Jonathan Will McGuire [Member] | Restricted Stock Units [Member]
Share price (in dollars per share)	$ 3.76
Number of vested shares	47,500
Number of vested shares sold	190,000
Certain Employees and Contractors [Member]
Number of shares exercised							95,493
Value of shares exercised							$ 479,000
Number of options granted							659,973
Exercisable terms							10 years
Vesting period							4 years
Fair value of options							$ 1,350,000
Expected terms (in years)							6 years 3 months
Volatility rate							48.20%
Expected dividend rate							0.00%
Outside Attorney [Member]
Exercise price (in dollars per share)							$ 5.23
Share price (in dollars per share)							$ 1.77
Number of options granted							30,000
Exercisable terms							4 years
Fair value of options							$ 53,000
Expected terms (in years)							6 years 3 months
Volatility rate							48.20%
Risk-free interest rate							1.87%
Expected dividend rate							0.00%
Consultant [Member]
Number of vested shares						98,681
Share based charges						$ 55,000
Description of vesting terms						All unvested options for this employee were terminated when this employee ceased full-time employment with the Company.
Minimum [Member] | Certain Employees and Contractors [Member]
Exercise price (in dollars per share)							$ 3.44
Share price (in dollars per share)							$ 1.64
Risk-free interest rate							1.43%
Maximum [Member] | Certain Employees and Contractors [Member]
Exercise price (in dollars per share)							$ 5.16
Share price (in dollars per share)							$ 2.47
Risk-free interest rate							1.87%
2011 Equity Incentive Plan [Member]
Number of shares authorized							3,500,000
Number of shares options granted							7,500,000
Aggregate exercisable intrinsic value							$ 0
Total unrecognized compensation cost of options							$ 6,900,000
Period of recognized compensation cost							2 years 10 months 2 days
Exercisable terms							10 years
2011 Equity Incentive Plan [Member] | Minimum [Member]
Vesting period							4 years
2011 Equity Incentive Plan [Member] | Maximum [Member]
Vesting period							5 years
Second Sight 2011 Equity Incentive Plan [Member]
Number of shares authorized		6,000,000
Maximum number of shares authorized		7,500,000
Employee Stock Purchase Plan [Member]
Description of plan					Under the ESPP, shares of the Company's common stock may be purchased at six-month intervals at 85% of the lower of the closing fair market value of the common stock (i) on the first trading day of the offering period or (ii) on the last trading day of the purchase period. An employee may purchase in any one calendar year shares of common stock having an aggregate fair market value of up to $25,000 determined as of the first trading day of the offering period. Additionally, a participating employee may not purchase more than 100,000 shares of common stock in any one offering period.
Number of shares issued							154,225
Proceeds from purchase of stock							$ 337,000