Second Sight Medical (NSDQ:EYES) announced today that it has named a new acting chief executive officer.
Los Angeles-based Second Sight said in a news release that Scott Dunbar has been named by its board of directors to replace Matthew Pfeffer as acting CEO.
Under Nasdaq rules, an independent director may temporarily be named acting CEO but can’t continue in such service for more than a year. As a result, Pfeffer relinquished the role of acting CEO but will remain with the company’s board as an independent director.
Dunbar, who served as senior patent counsel and compliance officer at Second Sight, has been with the company for 19 years, Second Sight said.
“I want to thank Matt for his leadership during this past year,” Second Sight chair Gregg Williams said in the release. “Our focus remains on advancing the Orion program toward providing useful vision to the blind, and I look forward to working with Scott as we pursue that goal.”
The company had said just over a year ago that it was winding down its operations amid the financial shock of the COVID-19 pandemic. At the time, Second Sight said it would lay off 84 of its 108 employees and retain an adviser to guide the board on the next steps. Company officials expected additional layoffs.
Weeks ago, the company announced FDA approval of its Argus 2s retinal prosthesis system, though questions remained about whether it would ever be manufactured. A planned merger with Prixium would have the combined company focusing on Pixium’s Prima retinal stimulation system and creating a new subsidiary to zero in on cortical stimulation through Second Sight’s Orion implant, but conflict arose in March over the merger. It may not go through.