8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported): August 5, 2020

STAAR Surgical Company

(Exact Name of Registrant as Specified in Charter)

Delaware	0-11634	95-3797439
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)
25651 Atlantic Ocean Drive Lake Forest, California		92630
(Address of Principal Executive Offices)		(Zip Code)

Registrant’s Telephone Number, Including Area Code: 626-303-7902

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐	Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common	STAA	NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1 933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 7.01 Regulation FD Disclosure.

On August 5, 2020, STAAR Surgical Company (the “Company”) published a press release reporting its financial results for the quarter ended July 3, 2020, a copy of which is furnished as Exhibit 99.1 to this report and is incorporated herein by this reference.

 This information and the information contained in the press release shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section. The information in Item 7.01 of this Current Report, and Exhibit 99.1 are not incorporated by reference into any filings of STAAR made under the Securities Act of 1933, as amended, whether made before or after the date of this Current Report, regardless of any general incorporation language in the filing unless specifically stated so therein.

Item 9.01 Financial Statements and Exhibits

Exhibit No.	Description
99.1	Press release of the Company dated August 5, 2020.
104	Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

STAAR Surgical Company
August 5, 2020	By:	/s/ Caren Mason
		Caren Mason
		President and Chief Executive Officer

EX-99.1

Exhibit 99.1

STAAR Surgical Reports Second Quarter 2020 Results

LAKE FOREST, CA, August 5, 2020 --- STAAR Surgical Company (NASDAQ: STAA), a leading developer, manufacturer and marketer of implantable lenses and companion delivery systems for the eye, today reported financial results for the second quarter ended July 3, 2020.

Second Quarter 2020 Overview

• Net Sales of $35.2 Million Down 11% from the Prior Year Quarter

• ICL Sales of $30.7 Million Down 11% and Units Down 3% from the Prior Year Quarter

• Gross Margin at 69.4% vs. 75.4% in the Prior Year Quarter

• Net Loss of ($0.03) per Share vs. Prior Year Quarter Net Income of $0.08 per Share

• Cash and Cash Equivalents Ended the Quarter at $116.3 Million.

“The outlook we provided in May accurately assessed the market dynamics and STAAR’s ability to perform well in the midst of a prolonged shutdown of elective surgeries in most of the global markets we serve. While refractive procedures were down significantly or came to a halt in April and May in much of North America, Europe, Latin America, India and the Middle East, continuing recovery and growth were recorded in Japan, Korea and China. In June, ICL implant procedures recorded strong year-over-year growth with units up 65% in Japan, 24% in Rest of Asia Pacific, 17% in Germany, 15% in Distributor Markets in Europe and 11% in Korea. The positive trending continued in July with China experiencing stronger than anticipated demand as the peak season began in earnest. While COVID-19 hotspots and government public health mandates may reoccur moving forward, we anticipate less business interruption and continued increased interest in our EVO ICL lens-based refractive solutions in Q3 and Q4. Our team is squarely focused on generating significant growth by supporting our surgeon partners as they restart their practices with patient recruiting programs, training and digital marketing,” said Caren Mason, President and CEO of STAAR Surgical.

“During Q3, we plan to launch the European commercialization of our innovative EVO Viva™ presbyopia-correcting lens. We will begin our phased rollout of the EVO Viva lens to select surgeons in early September. We are also anticipating completing enrollment in our U.S. EVO clinical trial in the September timeframe,” concluded Ms. Mason.  

Financial Overview – Q2 2020

Net sales were $35.2 million for the second quarter of 2020, down 11% compared to $39.7 million reported in the prior year quarter. The sales decrease was driven by ICL revenue and unit growth declines of 11% and 3%, respectively, as compared to the prior year period. Other Product Sales decreased 15% compared to the prior year quarter.  ICL revenue was 87% of total Net sales for the second quarter of 2020.

Gross profit margin for the second quarter of 2020, was 69.4% compared to the prior year period of 75.4%. The decrease in gross margin is primarily attributable to geographic sales mix and a voluntary six-week COVID-19 related manufacturing pause that ended on April 27, 2020. Excluding the manufacturing pause related expenses from the second quarter of 2020 gross profit margin would have been 72.2%.

Operating expenses for the secondquarter were $25.5 millioncompared to the prior year quarter of $25.3 million. General and administrative expenses were $7.8 million compared to the prior year quarter of $7.5 million.The increase in general and administrative expenses was due to increased headcount and salary-related expenses, partially offset by a decrease in variable compensation and travel expenses. Marketing and selling expenses were $10.3 million compared to the prior year quarter of $11.7 million. The decrease in marketing and selling expenses is due to decreased trade show expenses and travel expenses, partially offset by increased advertising and promotional activities. Research and development expenses were $7.3 million compared to the prior year quarter of $6.1 million.The increase in research and development expenses was due to increased clinical expenses associated with our EVO clinical trial in the U.S., and increased headcount and salary-related expenses, partially offset by variable compensation and travel expense.  

Net loss for the second quarter of 2020 was ($1.2) million or approximately ($0.03) per diluted share compared with net income of $3.9 million or $0.08 per diluted share for the prior year quarter. Adjusted Net Income for the second quarter of 2020 was $1.4 million or $0.03 per diluted share compared to $6.5 million or $0.14 per diluted share for the prior year quarter. The reconciliation between GAAP and non-GAAP financial information is provided in the financial tables included with this release.

Cash and cash equivalents at July 3, 2020 totaled $116.3 million, compared to $120.0 million at the end of fiscal 2019. The Company had $1.3 million drawn on its line of credit in Japan and no other debt at July 3, 2020. During the second quarter of 2020, the Company achieved breakeven cash from operations and invested $2.0 million in property and equipment.

Conference Call

The Company will host a conference call and webcast today, Wednesday, August 5 at 4:30 p.m. Eastern / 1:30 p.m. Pacific to discuss its financial results and operational progress. To access the conference call (Conference ID 9428649), please dial 833-350-1429 for domestic participants and 647-689-6661 for international participants. The live webcast can be accessed from the investor relations section of the STAAR website at www.staar.com.

A taped replay of the conference call (Conference ID 9428649) will be available beginning approximately one hour after the call’s conclusion for seven days. This replay can be accessed by dialing 800-585-8367 for domestic callers and 416-621-4642 for international callers. An archived webcast will also be available at www.staar.com.

Use of Non-GAAP Financial Measures

This press release includes supplemental non-GAAP financial information, which STAAR believes investors will find helpful in understanding its operating performance. “Adjusted Net Income” and “Adjusted Net Income Per Share” exclude the following items that are included in “Net Income” as calculated in accordance with U.S. generally accepted accounting principles (“GAAP”): gain or loss on foreign currency transactions, stock-based compensation expenses, and valuation allowance adjustments.  Management believes that “Adjusted Net Income” and “Adjusted Net Income per share” are useful to investors in gauging the outcome of the key drivers of the business performance:  the ability to increase sales revenue and our ability to increase profit margin by improving the mix of high value products while reducing the costs over which management has control.  

Management has also excluded gains and losses on foreign currency transactions because of the significant fluctuations that can result from period to period as a result of market driven factors. Stock-based compensation expenses consist of expenses for stock options and restricted stock under the Financial Accounting Standards Board’s Accounting Standards Codification (ASC) 718.  Valuation allowance adjustments can occur from time to time based on forecasted changes in operating results until all net operating loss carryforwards are fully utilized.  In calculating Adjusted Net Income and Adjusted Net Income Per Share, STAAR excludes these expenses because they are non-

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cash expenses and because of the considerable judgment involved in calculating their values.  In addition, these expenses tend to be driven by fluctuations in the price of our stock and not by the same factors that generally affect our other business expenses.

The Company also uses Constant Currency as a Non-GAAP financial measure to exclude the effects of currency fluctuations on net sales. The Company conducts a significant part of its activities outside the U.S. It receives sales revenue and pays expenses principally in U.S. dollars, Swiss francs, Japanese yen and euros. The exchange rates between dollars and non-U.S. currencies can fluctuate greatly and can have a significant effect on the Company’s results when reported in U.S. dollars. In order to compare the Company's performance from period to period without the effect of currency, the Company will apply the same average exchange rate applicable in the prior period, or the "constant currency" rate to sales or expenses in the current period as well. Because changes in currency are outside of the control of the Company and its managers, management finds this non-GAAP measure useful in determining the long-term progress of its initiatives and determining whether its managers are achieving their performance goals. The Company believes that the non-GAAP constant-currency sales results measures provided in this press release are similarly useful to investors to give insight on long term trends in the Company's performance without the external effect of changes in relative currency values. The table below shows sales results calculated in accordance with GAAP, the effect of currency, and the resulting non-GAAP measure expressed in constant currency.  

About STAAR Surgical

STAAR, which has been dedicated solely to ophthalmic surgery for over 30 years, designs, develops, manufactures and markets implantable lenses for the eye with companion delivery systems. These lenses are intended to provide visual freedom for patients, lessening or eliminating the reliance on glasses or contact lenses. All of these lenses are foldable, which permits the surgeon to insert them through a small incision. STAAR’s lens used in refractive surgery is called an Implantable Collamer® Lens or “ICL”, which includes the EVO Visian ICL™ product line. More than 1,000,000 Visian^® ICLs have been implanted to date and STAAR markets these lenses in over 75 countries. To learn more about the ICL go to: www.discovericl.com.  Headquartered in Lake Forest, CA, the company operates manufacturing and packaging facilities in Aliso Viejo, CA, Monrovia, CA and Nidau, Switzerland. For more information, please visit the Company’s website at www.staar.com.

Safe Harbor

All statements in this press release that are not statements of historical fact are forward-looking statements, including statements about any of the following: any financial projections, plans, strategies, and objectives of management for 2020 or prospects for achieving such plans, expectations for sales, revenue, or earnings, the expected impact of the COVID-19 pandemic and related public health measures (including but not limited to its impact on sales, operations or clinical trials globally), product safety or effectiveness, the status of our pipeline of ICL products with regulators, including our EVO family of lenses in the U.S., and any statements of assumptions underlying any of the foregoing, including those relating to our product pipeline and market expansion activities. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include risks and uncertainties related to the COVID-19 pandemic and related public health measures, as well as the factors set forth in the Company’s Quarterly Report on Form 10-Q for the quarter ended April 3, 2020, and Annual Report on Form 10-K for the year ended January 3, 2020 under the caption “Risk Factors,” which is on file with the Securities and Exchange Commission and available in the “Investor Information” section of the company’s website under the heading “SEC Filings.” We disclaim any intention or obligation to update or revise any financial projections or forward-looking statement due to new information or events. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties include the following: global economic conditions; the discretion of regulatory agencies to approve or reject existing, new or

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improved products, or to require additional actions before approval, or to take enforcement action; international trade disputes; and the willingness of surgeons and patients to adopt a new or improved product and procedure. The Visian ICL with CentraFLOW, now known as EVO Visian ICL, is not yet approved for sale in the United States.

CONTACT:Investors & Media

Brian Moore

Vice President, Investor, Media Relations and Corporate Development

(626) 303-7902, Ext. 3023

bmoore@staar.com

4

Consolidated Balance Sheets

(in 000's)

Unaudited

ASSETS	July 3, 2020			January 3, 2020
Current assets:
Cash and cash equivalents	$	116,315		$	119,968
Accounts receivable trade, net		39,469			30,996
Inventories, net		17,836			17,142
Prepayments, deposits, and other current assets		8,897			6,560
Total current assets		182,517			174,666
Property, plant, and equipment, net		21,478			17,065
Finance lease right-of-use assets, net		687			1,867
Operating lease right-of-use assets, net		5,587			6,684
Intangible assets, net		280			296
Goodwill		1,785			1,786
Deferred income taxes		5,114			3,750
Other assets		591			751
Total assets	$	218,039		$	206,865
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Line of credit	$	1,325		$	1,827
Accounts payable		8,890			8,050
Obligations under finance leases		493			560
Obligations under operating leases		2,355			2,700
Allowance for sales returns		4,285			3,644
Other current liabilities		14,241			17,697
Total current liabilities		31,589			34,478
Obligations under finance leases		108			366
Obligations under operating leases		3,320			4,086
Asset retirement obligations		212			211
Pension liability		8,136			7,840
Total liabilities		43,365			46,981
Stockholders' equity:
Common stock		458			448
Additional paid-in capital		320,235			304,288
Accumulated other comprehensive loss		(2,909	)		(3,048	)
Accumulated deficit		(143,110	)		(141,804	)
Total stockholders' equity		174,674			159,884
Total liabilities and stockholders' equity	$	218,039		$	206,865

5

Consolidated Statements of Operations

(In 000's except for per share data)

Unaudited

	Three Months Ended																	Six Months Ended
	% of			July 3,			% of			June 28,		Fav (Unfav)						% of			July 3,			% of			June 28,			Fav (Unfav)
	Sales			2020			Sales			2019		Amount			%			Sales			2020			Sales			2019			Amount			%
Net sales		100.0	%	$	35,194			100.0	%	$	39,664	$	(4,470	)		-11.3	%		100.0	%	$	70,381			100.0	%	$	72,247		$	(1,866	)		-2.6	%
Cost of sales		30.6	%		10,764			24.6	%		9,765		(999	)		-10.2	%		30.1	%		21,191			25.1	%		18,168			(3,023	)		-16.6	%
Gross profit		69.4	%		24,430			75.4	%		29,899		(5,469	)		-18.3	%		69.9	%		49,190			74.9	%		54,079			(4,889	)		-9.0	%
Selling, general and administrative expenses:
General and administrative		22.3	%		7,848			18.9	%		7,508		(340	)		-4.5	%		22.5	%		15,817			19.9	%		14,345			(1,472	)		-10.3	%
Marketing and selling		29.3	%		10,326			29.5	%		11,682		1,356			11.6	%		30.3	%		21,354			30.2	%		21,825			471			2.2	%
Research and development		20.8	%		7,311			15.4	%		6,098		(1,213	)		-19.9	%		20.2	%		14,209			16.3	%		11,733			(2,476	)		-21.1	%
Total selling, general, and administrative       expenses		72.4	%		25,485			63.8	%		25,288		(197	)		-0.8	%		73.0	%		51,380			66.4	%		47,903			(3,477	)		-7.3	%
Operating income (loss)		-3.0	%		(1,055	)		11.6	%		4,611		(5,666	)		-122.9	%		-3.1	%		(2,190	)		8.5	%		6,176			(8,366	)		-135.5	%
Other income (expense):
Interest income, net		0.1	%		20			0.7	%		259		(239	)		-92.3	%		0.3	%		236			0.7	%		530			(294	)		-55.5	%
Gain (loss) on foreign currency transactions		1.1	%		388			0.0	%		11		377			3427.3	%		-0.1	%		(80	)		-0.3	%		(237	)		157			66.2	%
Royalty income		0.1	%		52			0.4	%		163		(111	)		-68.1	%		0.2	%		146			0.5	%		334			(188	)		-56.3	%
Other income (expense), net		-0.1	%		(21	)		0.0	%		1		(22	)		-2200.0	%		0.0	%		(20	)		0.1	%		98			(118	)		-120.4	%
Total other income, net		1.2	%		439			1.1	%		434		5			1.2	%		0.4	%		282			1.0	%		725			(443	)		-61.1	%
Income (loss) before provision for income taxes		-1.8	%		(616	)		12.7	%		5,045		(5,661	)		-112.2	%		-2.7	%		(1,908	)		9.5	%		6,901			(8,809	)		-127.6	%
Provision (benefit) for income taxes		1.5	%		556			2.9	%		1,131		575			50.8	%		-0.8	%		(602	)		2.2	%		1,620			2,222			137.2	%
Net income (loss)		-3.3	%	$	(1,172	)		9.8	%	$	3,914	$	(5,086	)		-129.9	%		-1.9	%	$	(1,306	)		7.3	%	$	5,281		$	(6,587	)		-124.7	%
Net income (loss) per share - basic				$	(0.03	)				$	0.09										$	(0.03	)				$	0.12
Net income (loss) per share - diluted				$	(0.03	)				$	0.08										$	(0.03	)				$	0.11
Weighted average shares outstanding - basic					45,354						44,479											45,152						44,357
Weighted average shares outstanding - diluted					45,354						46,733											45,152						46,842

6

Consolidated Statements of Cash Flows

(in 000's)

Unaudited

	Three Months Ended						Six Months Ended
	July 3, 2020			June 28, 2019			July 3, 2020			June 28, 2019
Cash flows from operating activities:
Net income (loss)	$	(1,172	)	$	3,914		$	(1,306	)	$	5,281
Adjustments to reconcile net income (loss) to net       cash provided by operating activities:
Depreciation of property and equipment		752			761			1,518			1,983
Amortization of long-lived intangibles		8			9			17			17
Deferred income taxes		-			314			(1,369	)		393
Change in net pension liability		203			84			376			203
Stock-based compensation expense		2,918			2,579			5,839			5,220
Loss on disposal of property and equipment		-			-			3			-
Provision for sales returns and bad debts		525			2			605			(32	)
Inventory provision		480			332			816			787
Changes in working capital:
Accounts receivable		(4,947	)		(5,979	)		(8,409	)		(6,533	)
Inventories		(441	)		113			(932	)		106
Prepayments, deposits and other current assets		274			1,163			(2,172	)		(1,154	)
Accounts payable		(610	)		748			297			563
Other current liabilities		1,993			(563	)		(3,471	)		(2,626	)
Net cash provided by (used in) operating          activities		(17	)		3,477			(8,188	)		4,208
Cash flows from investing activities:
Acquisition of property and equipment		(2,025	)		(2,398	)		(4,210	)		(4,601	)
Increase in patents and licenses		-			-			-			(30	)
Net cash used in investing activities		(2,025	)		(2,398	)		(4,210	)		(4,631	)
Cash flows from financing activities:
Repayment on line of credit		(3	)		(500	)		(508	)		(999	)
Repayment of finance lease obligations		(110	)		(316	)		(346	)		(681	)
Proceeds from vested resricted stock and exercise    of stock options		7,553			488			9,558			1,112
Net cash provided by (used in) financing          activities		7,440			(328	)		8,704			(568	)
Effect of exchange rate changes on cash and cash    equivalents		66			267			41			243
Increase (decrease) in cash and cash equivalents		5,464			1,018			(3,653	)		(748	)
Cash, cash equivalents and restricted cash,    at beginning of the period		110,851			102,233			119,968			103,999
Cash, cash equivalents and restricted cash, at    end of the period	$	116,315		$	103,251		$	116,315		$	103,251

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Reconciliation of Non-GAAP Financial Measure

Adjusted Net Income (Loss) and Net Income (Loss) Per Share

(in 000's)

Unaudited

	Three Months Ended						Six Months Ended
	July 3, 2020			June 28, 2019			July 3, 2020			June 28, 2019
Net income (loss) (as reported)	$	(1,172	)	$	3,914		$	(1,306	)	$	5,281
Less:
Foreign currency impact		(388	)		(11	)		80			237
Stock-based compensation expense		2,918			2,579			5,839			5,220
Valuation allowance adjustment		-			-			(1,369	)		-
Net income (adjusted)	$	1,358		$	6,482		$	3,244		$	10,738
Net income (loss) per share, basic    (as reported)	$	(0.03	)	$	0.09		$	(0.03	)	$	0.12
Foreign currency impact		-			-			-			-
Stock-based compensation expense		0.06			0.06			0.13			0.12
Valuation allowance adjustment		-			-			(0.03	)		-
Net income per share, basic (adjusted)	$	0.03		$	0.15		$	0.07		$	0.24
Net income (loss) per share, diluted    (as reported)	$	(0.03	)	$	0.08		$	(0.03	)	$	0.11
Foreign currency impact		-			-			-			0.01
Stock-based compensation expense		0.06			0.06			0.12			0.11
Valuation allowance adjustment		-			-			(0.02	)		-
Net income per share, diluted (adjusted)	$	0.03		$	0.14		$	0.07		$	0.23
Weighted average shares outstanding -    Basic		45,354			44,479			45,152			44,357
Weighted average shares outstanding -    Diluted		47,546			46,733			47,328			46,842

Note:  Net income per share (adjusted), basic and diluted, may not add due to rounding

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STAAR Surgical Company

Reconciliation of Non-GAAP Financial Measure

Constant Currency Sales

(in 000's)

Unaudited

	Three Months Ended
	July 3,		Effect of			Constant		June 28,		As Reported						Constant Currency
Sales	2020		Currency			Currency		2019		$ Change			% Change			$ Change			% Change
ICL	$	30,728	$	(6	)	$	30,722	$	34,432	$	(3,704	)		-10.8	%	$	(3,710	)		-10.8	%
IOL		2,561		(41	)		2,520		3,874		(1,313	)		-33.9	%		(1,354	)		-35.0	%
Other		1,905		(67	)		1,838		1,358		547			40.3	%		480			35.3	%
Other Products		4,466		(108	)		4,358		5,232		(766	)		-14.6	%		(874	)		-16.7	%
Total Sales	$	35,194	$	(114	)	$	35,080	$	39,664	$	(4,470	)		-11.3	%	$	(4,584	)		-11.6	%
	Six Months Ended
	July 3,		Effect of			Constant		June 28,		As Reported						Constant Currency
Sales	2020		Currency			Currency		2019		$ Change			% Change			$ Change			% Change
ICL	$	60,068	$	95		$	60,163	$	62,218	$	(2,150	)		-3.5	%	$	(2,055	)		-3.3	%
IOL		6,555		(41	)		6,514		7,891		(1,336	)		-16.9	%		(1,377	)		-17.5	%
Other		3,758		(67	)		3,691		2,138		1,620			75.8	%		1,553			72.6	%
Other Products		10,313		(108	)		10,205		10,029		284			2.8	%		176			1.8	%
Total Sales	$	70,381	$	(13	)	$	70,368	$	72,247	$	(1,866	)		-2.6	%	$	(1,879	)		-2.6	%

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XML

Document And Entity Information	Aug. 05, 2020
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Aug. 05, 2020
Entity Registrant Name	STAAR Surgical Co
Entity Central Index Key	0000718937
Entity Emerging Growth Company	false
Entity File Number	0-11634
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-3797439
Entity Address, Address Line One	25651 Atlantic Ocean Drive
Entity Address, City or Town	Lake Forest
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92630
City Area Code	626
Local Phone Number	303-7902
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of each class	Common
Trading Symbol(s)	STAA
Name of each exchange on which registered	NASDAQ