Eye survey boost for Optos

Published on Thursday 2 September 2010 23:22

SHARES in Optos were in sharp focus yesterday after the Dunfermline-based maker of opticians' scanning machines was selected to join a major study into eye diseases.

Researchers in the United States will uses the firm's equipment to study the edges of the retina in older patients who are losing their sight.

Some 4,200 patients are expected to take part in the "AREDS2" study into age-related macular disease (AMD) by the US National Eye Institute.

Optos' inclusion in the research follows a study by the University of Southern California, which found that machines such as those made by the Scottish firm can help detect AMD.

Roy Davis, Optos chief executive, said: "The results from this study further prove the value of our technology in shedding new light on diseases and pathologies present in the retina."

Shares in Optos closed up 8.9 per cent, or 7.5p, last night at 92p. The increase comes as a welcome fillip for the stock, which has fallen from a high of 135p in May. The firm reported third-quarter revenues slightly lower than analysts' expectations in July.

The company was hit in part by the lower number of machines installed within the offices of high street optometrists who rent Optos machines on a pay-per-patient (PPP) formula. PPP revenues were also dented by the introduction of discounts aimed at retaining customers.

Optos began offering the option of buying its machines, rather than renting, about three months ago.

The firm believes that the move into selling rather than renting will boost its sales as it increasingly targets its machines at the more specialised ophthalmology market for the treatment of retinal diseases.