RxSight Inc. concealed its medical device sales were hurt by slow adoption of its cataract surgery eye lenses before lowering its 2025 revenue forecast and enduring record stock drops, a proposed class action said.
The medical technology company slashed its 2025 guidance on April 2 and July 8 while delivering quarterly financial results. About two weeks ago, RxSight cut this year’s revenue outlook to between $120 million and $130 million from between $160 million and $175 million. Share prices fell 37.8% to close at $7.95 the next day, the stock’s steepest single-day slide since April, according to data compiled by ...
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