Sight Sciences, Inc. (NASDAQ: SGHT) observed a notable bullish trend in its stock performance on Monday, marking a remarkable surge of 10.23% to attain $5.82. This significant increase in the value of SGHT shares seems to be associated with a successful litigation result.
Sight Sciences (SGHT) revealed that it has won a $34 million jury trial decision in a patent infringement case filed on September 16, 2021 in the U.S. District Court for the District of Delaware. SGHT sued Alcon Inc., Alcon Vision, LLC, Ivantis, Inc., and Alcon Research, LLC, (together, “Alcon”). Sight Sciences claimed that three key patents were violated by Alcon and Ivantis’ marketing of the Hydrus Microstent.
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Following a five-day trial, the jury rendered their verdict on Friday, April 26, 2024. The jury found that Alcon had intentionally violated each of the three patents that Sight Sciences had claimed, and they awarded financial compensation for the earlier infringements. The total amount of damages included $28.5 million in royalties for sales of the Hydrus Microstent from the time of its commercial launch until the trial, and $5.5 million in lost profits.
The judge has yet to decide on potential enhancements of damages linked to the willfulness verdict or other remedial actions. Since initiating its initial surgical glaucoma patent application in 2006, Sight Sciences has invested significant capital in research and development endeavors aimed at fostering new and innovative technologies, with the aim of pioneering groundbreaking treatments for chronic eye ailments.
The company’s dedication to these investments underscores its mission to broaden patient access to transformative and interventionary technologies, ultimately raising the bar for standard care and improving patient outcomes. Over the past eighteen years, Sight Sciences has spearheaded several vital and proprietary microinvasive surgical glaucoma techniques and devices, including intracanalicular scaffolding, bladeless goniotomy, ab interno canaloplasty, ab interno trabeculotomy, and combinations thereof.
Given its substantial investments in surgical innovations for the benefit of its surgeon clientele and glaucoma patients, safeguarding its intellectual property portfolio remains of paramount importance to Sight Sciences. The company remains resolute in its commitment to providing eye care providers with effective technologies and executing its long-term growth strategy in the realms of surgical glaucoma and dry eye disease.
