Eyenovia Inc Stock Price, News & Analysis

Eyenovia (NASDAQ: EYEN), a pioneer in ophthalmic technologies, has expanded its cryptocurrency holdings by purchasing an additional 265,872 HYPE tokens. This acquisition brings the company's total HYPE holdings to 1,306,452 tokens, acquired at an average price of $34.83 per token.

As the first publicly-listed U.S. company to build a strategic treasury of HYPE, the native token of the Hyperliquid protocol, Eyenovia plans to use these holdings to support ecosystem growth initiatives, including validator operations and protocol-level yield generation opportunities.

Eyenovia (NASDAQ: EYEN), an ophthalmic technology company, has announced a partnership with Kinetiq to launch a co-branded Hyperliquid validator called 'Kinetiq x Hyperion'. This initiative follows Eyenovia's recent acquisition of 1,040,584.5 HYPE tokens, making it the first publicly-listed U.S. company to build a strategic treasury of HYPE, the native token of the Hyperliquid protocol.

The validator will be supported by Pier Two, an institutional staking services provider with SOC 2 Type I and II certifications. This collaboration represents Eyenovia's strategic move into onchain engagement, aiming to contribute to network stability while creating potential value through ecosystem participation.

Eyenovia (NASDAQ: EYEN) has announced several major developments: the completion of a $50 million private placement, acquisition of over 1 million HYPE tokens at ~$34 each, and progress on its Optejet device. The company becomes the first Nasdaq-listed firm to run a validator on Hyperliquid blockchain and plans to rename itself to Hyperion DeFi (HYPD). The company's cryptocurrency strategy aims to leverage digital currency adoption while maintaining focus on its Optejet User Filled Device (UFD) development. The Optejet UFD is on schedule for FDA registration in September 2025, with verification and validation activities starting next month. The company is currently in discussions with potential partners for licensing the platform, particularly for OTC lens rewetting and artificial tears applications.

Eyenovia (NASDAQ: EYEN) announced key developments in its digital asset strategy, including the appointment of Max Fiege as Strategic Advisor for their HYPE treasury strategy and an amendment to their debt agreement with Avenue Capital Group. The debt amendment extends maturity from November 2025 to July 2028, reduces interest rates from 12% to 8%, and modifies payment terms. Fiege, Principal at Merenti Capital GmbH, will support stakeholder education, ecosystem advocacy, treasury architecture, and risk oversight for EYEN's HYPE token strategy. The company is notably the first publicly-listed U.S. company to build a strategic treasury of HYPE, the native token of the Hyperliquid protocol.

Eyenovia (NASDAQ: EYEN) has announced a $50 million private placement to establish a cryptocurrency treasury reserve in HYPE tokens from the Hyperliquid blockchain. The company will issue convertible preferred stock at $3.25 per share, convertible into 15.4 million common shares, along with warrants for 30.8 million shares. The company appointed Hyunsu Jung as Chief Investment Officer and Board Member to lead this initiative. The strategy involves acquiring over 1,000,000 HYPE tokens, making Eyenovia one of the top global validators for Hyperliquid and the first Nasdaq-listed company to hold HYPE. The company plans to implement a HYPE staking program through Anchorage Digital while maintaining focus on its core business, including the development of Gen-2 Optejet UFD. The company will rebrand as "Hyperion DeFi" with ticker "HYPD", with the transaction expected to close around June 20, 2025.

Eyenovia (NASDAQ: EYEN) provided key updates on its business developments and Q1 2025 financial results. The company continues negotiations with Betaliq for a potential merger, extending the binding exclusivity period to June 7, 2025. The development of their Optejet user-filled device (UFD) remains on schedule for U.S. regulatory approval filing in September 2025. Financially, Eyenovia implemented significant cost-cutting measures, reducing cash burn by 70% year-over-year. Q1 2025 financial results showed a net loss of $3.5 million ($1.59 per share), compared to $10.9 million in Q1 2024. Operating expenses decreased to $3.0 million, down from $10.1 million year-over-year. The company's cash position improved to $3.9 million as of March 31, 2025. A debt restructuring agreement with Avenue Capital has deferred repayment obligations until October 2025.

Eyenovia (NASDAQ: EYEN) reports significant progress in developing its Optejet User Filled Device (UFD), targeting regulatory submission in Q4 2025. The device, designed for topical ophthalmic liquids including artificial tears and lens rewetting products, has successfully completed key verification and validation studies.

The completed parameters include physical requirements, usability testing, and dosing performance with precision within 1 microliter deviation. Notably, longevity testing demonstrated the device's capability to precisely dispense beyond 30,000 actuations. Safety testing, including electromagnetic interference and compatibility, has met all requirements according to IEC 60601 standards.

The company aims to submit a 510(k) application as early as September 2025, positioning the UFD Optejet to potentially double the usage efficiency of current eyedrop solutions.

Eyenovia (NASDAQ: EYEN) has entered into a non-binding letter of intent for a reverse merger with Betaliq, potentially creating a new publicly-listed eye care company. The merger would combine Betaliq's EyeSol® water-free drug delivery technology for glaucoma with Eyenovia's Optejet® dispensing platform.

The proposed transaction values Betaliq at approximately $77 million and Eyenovia at $15 million. Post-merger ownership would be split with Betaliq equity holders owning 83.7% and Eyenovia shareholders retaining 16.3% on a fully diluted basis.

The combined entity would continue marketing Eyenovia's FDA-approved products while leveraging the compatibility between EyeSol technology (featuring 10-microliter drop size) and the Optejet platform. The deal remains subject to due diligence, definitive agreements, board approvals, and financing contingencies.

Eyenovia (NASDAQ: EYEN) has successfully regained compliance with all Nasdaq Capital Market continued listing requirements, including the minimum bid price requirement rule (Rule 5550(a)(2)) and the low priced stocks rule (Rule 5810(c)(3)(A)(iii)). The compliance was achieved following a recently approved reverse stock split.

CEO Michael Rowe emphasized that maintaining the Nasdaq listing, combined with company restructuring efforts and accelerated development of the user-filled Optejet® device, represents significant milestones as they continue to explore strategic alternatives to maximize shareholder value.