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Eyenovia (NASDAQ: EYEN) reported its Q1 2024 financial results and updates on key products. The company aims to accelerate the development of MicroPine, a late-stage product for pediatric progressive myopia, and anticipates a 3Q 2024 launch for clobetasol propionate ophthalmic suspension, a new steroid for post-ocular surgery inflammation and pain. Additionally, Eyenovia has trained and shipped products to 50 new Mydcombi-using offices since April 2024.
Financially, the company reported a net loss of $10.9 million or $0.23 per share, compared to a $5.7 million loss or $0.15 per share in Q1 2023. Operating expenses increased by 88.1% year-over-year, partly due to reacquiring MicroPine license rights. Eyenovia reduced anticipated cash-based expenses by $0.8 million per quarter and had $8.0 million in cash and equivalents as of March 31, 2024.
The company has completed manufacturing capabilities with FDA approval for three facilities. A conference call and webcast are scheduled for May 15, 2024, at 4:30 pm ET.
Eyenovia (NASDAQ: EYEN), an ophthalmic company with two FDA-approved products and a late-stage asset in pediatric progressive myopia, will report its Q1 2024 financial results on May 15, 2024, after the market closes.
A conference call and webcast will follow at 4:30 p.m. ET to review the financial and operating results. Participants can join the call at 1-800-717-1738 (domestic) or 1-646-307-1865 (international). Live and archived webcasts will be available on the investor relations page of Eyenovia's website.