Bausch + Lomb Corporation Stock Price, News & Analysis

Bausch + Lomb Corporation (NYSE/TSX: BLCO) has initiated a clinical study to evaluate the safety and efficacy of the Technolas® TENEO™ excimer laser for LASIK vision correction surgery targeting hyperopia with astigmatism. This study includes up to 334 operative eyes and aims to support FDA pre-market approval, marking a potential significant innovation in LASIK procedures. The demand for LASIK surgery is rising, highlighting the need for advanced options. If approved, this technology could enhance patient outcomes in the U.S., where it has already seen success in over 50 global markets.

Bausch + Lomb Corporation (BLCO) announces the release of its second-quarter 2022 financial results scheduled for August 4, 2022. A conference call will take place at 8:00 a.m. ET to discuss the results and provide a business update. Interested parties can access the webcast via the company's Investor Relations website. Bausch + Lomb, a leader in eye health, offers over 400 products and operates globally with over 12,000 employees in nearly 100 countries.

Bausch + Lomb Corporation (NYSE/TSX: BLCO) has appointed Thomas W. Ross, Sr. as the new chair of the Board of Directors following the resignation of Joseph C. Papa. Mr. Papa remains CEO until a successor is found. The Board is actively searching for a new CEO while affirming the company's full-year guidance for 2022, initially announced on June 8. The company aims to complete its spinoff from Bausch Health (NYSE/TSX: BHC) in 2023, contingent on various approvals and market conditions, with no reported disagreements leading to Mr. Papa's departure.

Bausch + Lomb and Novaliq announced on July 7, 2022, the submission of a New Drug Application (NDA) for NOV03 (perfluorohexyloctane) to the FDA. This investigational treatment aims to address dry eye disease (DED) associated with Meibomian gland dysfunction (MGD), which affects approximately 18 million Americans. If approved, NOV03 would be the first therapy indicated for this condition. The NDA submission marks a significant milestone in Bausch + Lomb's commitment to developing innovative eye care solutions.

Bausch + Lomb Corporation (NYSE/TSX: BLCO) has announced that five presentations concerning the XIPERE^® pivotal Phase 3 trial will be made at the American Society of Retina Specialists (ASRS) meeting from July 13-16, 2022, in New York. These presentations include a post-hoc analysis evaluating outcomes for macular edema linked to chronic uveitis. XIPERE^® is the first treatment approved in the U.S. for delivery through the suprachoroidal space, demonstrating clinical efficacy in improving visual acuity.

Bausch + Lomb Corporation (NYSE/TSX: BLCO) has expanded its Board of Directors by appointing Brett Icahn and Gary Hu from the Icahn Group, effective immediately. This follows an amended agreement that allows the Icahn Group to have two Board members post the distribution of 80% of Bausch + Lomb's shares from Bausch Health. CEO Joseph C. Papa expressed optimism about the appointments, indicating they will support efforts to unlock shareholder value and enhance the company's focus on integrated eye health solutions.

Bausch + Lomb Corporation has launched Revive™ custom soft contact lenses in the U.S., available in various options including spherical and multifocal designs. These lenses cater to patients with high prescriptions and unique vision needs, addressing previously challenging fits. They are made from non-ionic materials, allowing for daily wear for up to three months. Eye care professionals benefit from a 120-day EZ-Exchange™ program to ensure optimal patient fit. This launch exemplifies Bausch + Lomb's dedication to innovating eye care technologies.

Bausch + Lomb reported first-quarter 2022 revenues of $889 million, up 1% year-over-year, with organic revenue growth of 5%. The Vision Care and Surgical segments drove performance, while the Ophthalmic Pharmaceuticals segment saw a 5% decline. GAAP net income was $20 million, down from $27 million a year prior. Adjusted EBITDA was $170 million, a decrease of $28 million. The company forecasts full-year revenues of $3.75 to $3.80 billion, reflecting anticipated growth of 4-5%.

Bausch + Lomb announced seven presentations featuring research on their new Biotrue® Hydration Plus Multi-Purpose Solution and Biotrue® Hydration Boost lubricant eye drops at the American Optometric Association's Optometry's Meeting from June 7-8, 2022. The company aims to share clinical and antimicrobial efficacy data, particularly emphasizing the use of hyaluronan, a natural tear moisturizer. Additionally, Bausch + Lomb will host various sponsored education events during the meeting in Chicago from June 15-18, 2022, targeting eye care professionals and digital gamers.