EyePoint Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)

Rhea-AI Summary

EyePoint Pharmaceuticals (NASDAQ: EYPT) has granted non-statutory stock options to seven new employees as inducement awards. The grants, approved by the Compensation Committee on May 15, 2025, include options to purchase up to 136,700 shares of EyePoint common stock at an exercise price of $5.72 per share. These options have a ten-year term and vest over four years, with 25% vesting on the first anniversary and the remainder vesting in equal monthly installments over the following three years. The inducement awards were granted outside the Company's 2023 Long-Term Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4).

WATERTOWN, Mass., May 16, 2025 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (Nasdaq: EYPT), a company committed to developing and commercializing therapeutics to help improve the lives of patients with serious retinal diseases, today announced that the Company granted non-statutory stock options to new employees as inducement awards outside the Company’s 2023 Long-Term Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4).

The Company granted stock options to purchase up to an aggregate of 136,700 shares of EyePoint common stock to seven new employees. The stock options were granted on May 15, 2025. The grants were approved by the Compensation Committee and made as an inducement material to each employee entering into employment with EyePoint in accordance with NASDAQ Listing Rule 5635(c)(4). The option awards have an exercise price of $5.72 per share, the closing price of EyePoint’s common stock on May 15, 2025. The options have a ten-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee’s date of grant and the remainder vesting in equal monthly installments over the following three years. Vesting of the options is subject to the employee’s continued service with EyePoint through the applicable vesting dates.

About EyePoint Pharmaceuticals

EyePoint Pharmaceuticals, Inc. (Nasdaq: EYPT) is a clinical-stage biopharmaceutical company committed to developing and commercializing innovative therapeutics to help improve the lives of patients with serious retinal diseases. The Company's pipeline leverages its proprietary bioerodible Durasert E^™ technology for sustained intraocular drug delivery. The Company’s lead product candidate, DURAVYU^™ is an investigational sustained delivery treatment for VEGF-mediated retinal diseases combining vorolanib, a selective and patent-protected tyrosine kinase inhibitor with bioerodible Durasert E^™. Supported by robust safety and efficacy data to date, DURAVYU is presently in Phase 3 global, pivotal clinical trials for wet age-related macular degeneration (wet AMD), the leading cause of vision loss among people 50 years of age and older in the United States and recently completed a Phase 2 clinical trial in diabetic macular edema (DME).

Pipeline programs include EYP-2301, a TIE-2 agonist, razuprotafib, formulated in Durasert E^™ to potentially improve outcomes in serious retinal diseases. The proven Durasert^® drug delivery technology has been safely administered to thousands of patient eyes across four U.S. FDA approved products in multiple disease indications. EyePoint is headquartered in Watertown, Massachusetts, and operates a commercial-ready manufacturing facility in Northbridge, Massachusetts.

Vorolanib is licensed to EyePoint exclusively by Equinox Sciences, a Betta Pharmaceuticals affiliate, for the localized treatment of all ophthalmic diseases outside of China, Macao, Hong Kong and Taiwan.

DURAVYU^™ has been conditionally accepted by the FDA as the proprietary name for EYP-1901. DURAVYU is an investigational product; it has not been approved by the FDA. FDA approval and the timeline for potential approval is uncertain.

For EyePoint:

Investors:
Christina Tartaglia
Precision AQ
Direct: 212-698-8700
christina.tartaglia@precisionaq.com

Media Contact:
Amy Phillips
Green Room Communications
Direct: 412-327-9499
aphillips@greenroompr.com

FAQ

What stock options did EyePoint Pharmaceuticals (EYPT) grant to new employees in May 2025?

EyePoint granted options to purchase 136,700 shares at $5.72 per share to seven new employees, with a ten-year term and four-year vesting schedule.

What is the vesting schedule for EYPT's May 2025 employee stock options?

The options vest over 4 years, with 25% vesting after the first year and the remainder vesting monthly over the following three years.

What is the exercise price for EyePoint's May 2025 inducement stock options?

The exercise price is $5.72 per share, which was EyePoint's closing stock price on May 15, 2025.

Under what NASDAQ rule did EyePoint grant these inducement awards?

The inducement awards were granted in accordance with NASDAQ Listing Rule 5635(c)(4), outside the Company's 2023 Long-Term Incentive Plan.