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David Badawi, Chief Technology Officer at Sight Sciences , Inc. (NASDAQ:SGHT), recently sold shares of the company's common stock, according to a recent filing. On January 3, 2025, Badawi sold a total of 3,111 shares at an average price of $3.522 per share, amounting to approximately $10,956. Following this transaction, Badawi retains ownership of 1,753,370 shares in the company. The sale comes as SGHT trades near its 52-week low of $3.30, having declined over 45% in the past six months. InvestingPro analysis indicates the stock is currently fairly valued. The sale was conducted to cover tax liabilities associated with the vesting of restricted stock units. Sight Sciences, headquartered in Menlo Park, California, focuses on developing medical devices for ophthalmology and optometry. While the company maintains a strong liquidity position with a current ratio of 10.18, InvestingPro data reveals rapid cash burn as a key concern. Discover comprehensive insights and 8 additional ProTips for SGHT through the detailed Pro Research Report, available exclusively to subscribers.
In other recent news, Sight Sciences secured an additional $5 million loan from its existing credit facility with Hercules Capital (NYSE:HTGC), increasing the total borrowed amount to $40 million. The medical device company plans to use the loan for general corporate purposes, aligning with its strategy to achieve cash flow breakeven without additional equity capital. Sight Sciences reported a slight year-over-year revenue increase in Q3, with revenue rising 1% to $20.2 million, despite a sequential decrease in surgical glaucoma revenue and dry eye revenue.
In recent developments, Sight Sciences has been given a Buy rating by UBS, which anticipates strong sales growth by 2026. The firm foresees the company's TearCare Dry Eye solution driving double-digit sales growth and gross margin expansion exceeding consensus estimates. Sight Sciences is also contesting the final 2025 Medicare payment rule, which did not grant device-intensive status to OMNI procedures.
In other company news, Sight Sciences issued warrants to its lenders, allowing them to purchase shares of the company's common stock. The firm also appointed Dr. MK Raheja as Executive Vice President of Research and Development to advance their surgical glaucoma pipeline. These developments are part of the company's plans to enhance sales performance and strategic positioning in response to commercial challenges.
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