longer term Medicare coverage for OMNI. Should OMNI procedures remain covered for Medicare beneficiaries after the final LCDs are published, the Company would expect a return to historical growth rates.
The Company plans to discuss complete third quarter 2023 financial results in early November 2023.
About Sight Sciences
Sight Sciences is an eyecare technology company focused on developing and commercializing innovative solutions intended to transform care and improve patients’ lives. Using minimally invasive or non-invasive approaches to target the underlying causes of the world’s most prevalent eye diseases, Sight Sciences seeks to create more effective treatment paradigms that enhance patient care and supplant conventional outdated approaches. The Company’s OMNI® Surgical System is a MIGS technology indicated to reduce intraocular pressure in adult patients with primary open-angle glaucoma (“POAG”), the world’s leading cause of irreversible blindness. The Company’s TearCare® System technology is 510(k) cleared for the application of localized heat therapy in adult patients with evaporative dry eye disease due to meibomian gland dysfunction (“MGD”) when used in conjunction with manual expression of the meibomian glands, enabling office-based clearance of gland obstructions by physicians to address the leading cause of dry eye disease. The Company’s SION™ Surgical Instrument is a manually operated device used in ophthalmic surgical procedures to excise trabecular meshwork.
For more information, visit www.sightsciences.com.
OMNI and TearCare are registered trademarks of Sight Sciences.
SION is a trademark of Sight Sciences.
© 2023 Sight Sciences. All rights reserved.
Forward Looking Statements
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with these safe harbor provisions. Any statements made in this press release or during the earnings call that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. These statements often include words such as “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions that we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe that these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. These forward-looking statements include, but are not limited to, statements concerning the following: the Company’s revised third quarter of 2023 and full year 2023 revenue guidance; the Company’s expectation that revenues in its Dry Eye segment will be slightly down sequentially primarily due to adjustments in the Company’s go-to-market strategy; expected reduction in new accounts added in the period, due to the Company’s strategy of building a higher utilization, recurring revenue business model with high quality customers and broad market access; the Company’s expectation that the impact of the proposed LCDs on ordering activity will continue until there is clarity on longer term coverage by the MACs; the Company’s belief that the effects on ordering activity will prove to be transitory if its products, especially its OMNI® Surgical System technology, maintain their current broad coverage upon finalization of the LCDs; the expectation that the Company’s revenues will normalize and return to growth should the final LCDs provide that OMNI procedures remain covered for Medicare beneficiaries in the affected jurisdictions; the