Second Sight Reports First Quarter 2018 Financial Results -Orion Feasibility Study on Track with Encouraging Early Results and Four of Five Subjects Implanted - - Completed Private Placement of $10

Reports First Quarter 2018 Financial Results

-Orion Feasibility Study on Track with

Encouraging Early Results and Four of Five Subjects Implanted -

- Completed Private Placement of $10

Los Angeles, CA - May 10, 2018 - Second

Sight Medical Products, Inc. (NASDAQ: EYES) ("Second Sight" or "the Company"), a developer, manufacturer

and marketer of implantable visual prosthetics that are intended to create an artificial form of useful vision to blind patients,

today reported financial results for the three months ended March 31, 2018.

Recent Corporate Highlights:

"We are making great progress towards achieving our 2018 objectives.

The Centers of Excellence commercial model in the U.S. is proving to be scalable with growth in our patient database and implant

volume. We are also on track to submit regulatory filings for our next-generation Argus II externals and are actively discussing

a label expansion for better-vision retinitis pigmentosa (RP) patients with the U.S. Food and Drug Administration (FDA).

"The five-patient Orion feasibility study in human subjects

is proceeding as expected with highly encouraging early results. Four subjects have now been implanted and the fifth surgery should

occur later this quarter. The first two subjects are repeatedly and reliably seeing light from all 60 electrodes and are currently

undergoing more advanced testing. Our goal with these initial subjects is to create artificial vision through real-time video input

from the eyewear in the near future. Subjects three and four were recently implanted and are expected to be activated in the next

few weeks. We have made our initial submission to the FDA as part of the Breakthrough Device Program and look forward to discussions

with them concerning the path to commercialization for Orion. Orion is an exciting technology which we believe has the potential

to provide useful vision to millions of individuals worldwide who currently have no option," said Will McGuire, President

and CEO of Second Sight.

First Quarter 2018 Financial Results

Total net sales on a GAAP basis were $1.0 million for the first

quarter of 2018 compared to $1.0 million in the first quarter of 2017. Revenue was recognized for nine units in both periods

and revenue from four units was deferred during the first quarter of 2018; revenue from two units was deferred in the prior year

Gross margin was $0.3 million for the first quarter of 2018 compared

to a gross loss of $0.1 million in the first quarter of 2017. The Company's overhead absorption rate for its unit costs are

subject to a high degree of variability based on its production volumes. The Company expects cost of goods on a per-unit basis

to stabilize, particularly related to overhead absorption and excess inventory reserve, as it produces more units.

Research and development expenses were $2.5 million during the first

quarter of 2018 compared to $1.9 million in the first quarter of 2017. The increase of $0.6 million was primarily driven by an

increase in personnel, outside services and internally produced prototypes for next generation products.

Clinical and regulatory expenses were $1.3 million during the first

quarter of 2018 compared to $0.6 million in the first quarter of 2017. The increase of $0.7 million primarily related to an increase

in enrollment in post-market studies due to the higher level of implants over the last 12 months and expenditures associated with

the Orion feasibility study.

Selling and marketing expenses were $3.0 million during the

first quarter of 2018 compared to $2.2 million in the first quarter of 2017. The increase of $0.8 million primarily related to

an increase in headcount and personnel related expenses of $0.3 million, including salaries, and $0.3 million related to market

development activities.

General and administrative expenses were $3.2 million in

first quarter of 2018 compared to $2.7 million in the first quarter of 2017. The increase of $0.5 million is primarily attributable

to $0.3 million of higher compensation costs and the remaining increase relates to outside services and infrastructure costs.

Net loss for the first quarter of 2018 was $9.8 million,

or a loss of $0.17 per share, compared to a net loss of $7.5 million, or a net loss of $0.16 per share, in the first

The non-GAAP net loss for the first quarter of 2018, excluding

certain non-cash items, was $8.5 million, or $0.14 per share, compared to a non-GAAP net loss of $7.2 million, or $0.16 per share

in the first quarter of 2017.

As of March 31, 2018, Second Sight had $5.0 million in cash

and cash equivalents. As announced this week, the Company received $10 million in gross proceeds from a private placement of common

stock with entities beneficially owned by its Chairman, Gregg Williams. This funding is expected to provide Second Sight with current-year

working capital to achieve key commercial and developmental milestones for its Argus II and Orion programs.

For a full reconciliation of non-GAAP financial measures to the

most comparable GAAP financial measures, please refer to the tables included with this press release.

As previously announced, Second Sight management will host its first

quarter 2018 conference call as follows:

A replay of the conference call will be available for two

weeks after the call's completion by dialing (800) 633-8284 (U.S.) or (402) 977-9140 (International). The conference ID for the

replay is 21888918. The archived webcast will be available for 30 days via the aforementioned URL.

Sight's mission is to develop, manufacture and market innovative implantable visual prosthetics to enable blind individuals to

achieve greater independence. Second Sight has developed, and now manufactures and markets, the Argus II Retinal

Prosthesis System. Development of new hardware and software intended to improve the quality of the vision produced by the Argus

system is ongoing. Second Sight is also developing the Orion Visual Cortical Prosthesis to potentially restore some vision

to individuals who are blind due to many causes other than preventable or treatable conditions. Second Sight's U.S. headquarters

are in Los Angeles, California, and European headquarters are in Lausanne, Switzerland. For more information, please visit www.secondsight.com.

About the Argus II Retinal Prosthesis System

Sight's Argus II System provides electrical stimulation that bypasses defunct retinal cells and stimulates remaining viable cells

inducing visual perception in individuals with severe to profound retinitis pigmentosa (RP). The Argus II works by converting

images captured by a miniature video camera mounted on the patient's glasses into a series of small electrical pulses, which are

transmitted wirelessly to an array of electrodes implanted on the surface of the retina. These pulses stimulate the retina's remaining

cells, intending to result in the perception of patterns of light in the brain. The patient must learn to interpret these visual

patterns, having the potential to regain some visual function. The Argus II was the first artificial retina to receive widespread

commercial approval, and is offered at approved centers in Canada, France, Germany, Iran, Italy, Russia, Saudi Arabia, Singapore,

South Korea, Spain, Taiwan, Turkey, the United Kingdom, and the United States. Further information on the long-term benefits and

risks can be found in the peer reviewed paper at: http://www.sciencedirect.com/science/article/pii/S0161642016305796

About the Orion Visual Cortical Prosthesis System

Like the Argus II, the Orion converts images captured by a miniature

video camera mounted on the patient's glasses into a series of small electrical pulses. The Orion is designed to transmit these

electrical pulses wirelessly to an array of electrodes implanted on the surface of the visual cortex, intended to result in the

perception of patterns of light. By bypassing the retina and optic nerve and directly stimulating the visual cortex, a cortical

prosthesis system has the potential to restore useful vision to many more patients than the Argus II, including patients completely

blinded due to many reasons, including glaucoma, diabetic retinopathy, or forms of cancer and trauma. The Company is currently

conducting a feasibility study in the U.S. at two centers: the Ronald Reagan UCLA Medical Center and Baylor College of Medicine

in Houston. No clinical data is yet available for the Orion.

This press release contains forward-looking statements within the

meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange and Exchange Act of

1934, as amended, which are intended to be covered by the "safe harbor" created by those sections. All statements in

this release that are not based on historical fact are "forward looking statements." These statements may be identified

by words such as "estimates," "anticipates," "projects," "plans," "goal,"

or "planned," "seeks," "may," "will," "expects," "intends,"

"believes," "should," and similar expressions, or the negative versions thereof, and which also may be

identified by their context. All statements that address operating performance or events or developments that Second Sight expects

or anticipates will occur in the future, such as stated objectives or goals, or that are not otherwise historical facts, are forward-looking

statements. While management has based any forward-looking statements included in this release on its current expectations, the

information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties

which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors

including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial

Condition and Results of Operations sections of our Annual Report, on Form 10-K, filed on March 20, 2018, and our other reports