Welcome to our dedicated page for EyePoint news (Ticker: EYPT), a resource for investors and traders seeking the latest updates and insights on EyePoint stock.
EyePoint, Inc. develops and commercializes therapeutics for serious retinal diseases as a clinical-stage biopharmaceutical company. Its lead product candidate, DURAVYU (vorolanib intravitreal insert), is an investigational sustained-delivery treatment that uses bioerodible Durasert E technology and is being studied for wet age-related macular degeneration and diabetic macular edema.
Recurring EyePoint news covers clinical program updates, financial results, FDA naming and product-status disclosures, manufacturing and commercial-readiness topics, investor presentations, and equity inducement grants under Nasdaq Listing Rule 5635(c)(4). Company updates also address cash resources, corporate development activity, and disclosures tied to its Nasdaq-listed common stock.
EyePoint Pharmaceuticals (EYPT) provided a business update for Q4 and full-year 2020, showing estimated net product revenues ranging from $6.2M to $6.6M, down from $7.9M in 2019. EYP-1901, a potential anti-VEGF treatment for wet AMD, had an IND filed in December 2020, with a Phase 1 trial expected in Q1 2021. Customer demand for DEXYCU and YUTIQ rose by 30% and 10%, respectively. Cash and cash equivalents were approximately $44M as of December 31, 2020. A partnership with Ocumension Therapeutics brought a $15.7M injection, and a royalty agreement with SWK Holdings added $16.5M.
EyePoint Pharmaceuticals (NASDAQ: EYPT) announced a $15.7 million equity investment from Ocumension Therapeutics, a Chinese ophthalmic company. Ocumension acquired approximately 3.01 million shares at a price of $5.22 per share as of December 29, 2020. The investment marks a significant partnership for the commercialization of EyePoint's products, YUTIQ and DEXYCU, in Asia. The company estimates cash and cash equivalents at around $44 million as of December 31, 2020, which will support operations into the latter part of 2021, assuming no major disruptions due to COVID-19.
EyePoint Pharmaceuticals (NASDAQ: EYPT) has entered a royalty monetization agreement with SWK Holdings for royalties related to its ILUVIEN® product. The deal provides EyePoint with a one-time payment of $16.5 million, of which $15 million will reduce long-term debt and $1.5 million will support product development. This transaction is expected to lower annual interest payments by approximately $1.7 million, enhancing EyePoint's financial stability as it advances its ocular disease pipeline, including EYP-1901 for wet age-related macular degeneration.
EyePoint Pharmaceuticals (NASDAQ: EYPT) announced a 1-for-10 reverse stock split effective at 5:00 p.m. ET on December 8, 2020. Starting December 9, 2020, the stock will trade under a new CUSIP number. The move aims to regain compliance with Nasdaq's $1.00 minimum closing bid price requirement. The split reduces the number of outstanding shares from approximately 151.3 million to about 15.13 million, affecting all stockholders uniformly. The company's authorized shares and par values remain unchanged. Computershare is appointed as the exchange agent for this process.
EyePoint Pharmaceuticals (NASDAQ: EYPT) reported positive results from its preclinical toxicology study of EYP-1901, a six-month sustained delivery treatment for wet age-related macular degeneration (AMD). No adverse findings related to EYP-1901 were observed, and key ocular measurements remained stable. The company plans to file for Investigational New Drug (IND) status by the end of 2020 and initiate a Phase 1 clinical trial in early 2021. EYP-1901 aims to offer a long-term treatment option for wet AMD, with potential future applications in diabetic retinopathy.
On November 19, 2020, EyePoint Pharmaceuticals (NASDAQ: EYPT) announced a virtual roundtable discussion on December 4, 2020, at 12:00 p.m. ET, focusing on local drug delivery for wet age-related macular degeneration (AMD) and EYP-1901, a potential six-month sustained delivery therapy. Esteemed retina specialists, including Robert Avery, M.D., and Elias Reichel, M.D., will participate. Interested parties can access the event by phone or via a live webcast on the company's website.
EyePoint Pharmaceuticals (NASDAQ: EYPT) announced positive data for its ophthalmic products YUTIQ and DEXYCU during the American Academy of Ophthalmology (AAO) 2020 Virtual Annual Meeting. The second Phase 3 trial for YUTIQ showed a significantly lower recurrence rate of uveitis (46.5% vs. 75%). A multicenter study confirmed DEXYCU's effectiveness in reducing inflammation after cataract surgery, while a comparison study indicated DEXYCU's superiority over traditional eye drops in pain control and patient preference. These findings support the long-term advantages of both products.
On November 10, 2020, EyePoint Pharmaceuticals (NASDAQ: EYPT) announced four abstracts featuring its products YUTIQ® and DEXYCU® presented at the American Academy of Ophthalmology (AAO) 2020 Virtual Annual Meeting from November 13-15, 2020.
The presentations include:
- YUTIQ: Phase 3 trial results showing 36-month anti-inflammatory activity.
- DEXYCU: Studies on patient preference and anti-inflammatory efficacy.
These advancements underline EyePoint's commitment to innovative ophthalmic solutions.
EyePoint Pharmaceuticals reported total revenues of $15.7 million for Q3 2020, a significant increase from $2.5 million in Q3 2019. The net product revenues reached $5.8 million with $3.5 million from YUTIQ and $2.3 million from DEXYCU. Customer demand surged over 120% for DEXYCU and over 5% for YUTIQ. The company is on track to file an IND for EYP-1901, targeting wet AMD, by year-end. Cash reserves stood at $30.5 million. A debt facility amendment waiving certain revenue covenants was also announced.
EyePoint Pharmaceuticals (EYPT) will release its third quarter 2020 results on November 5, 2020, followed by a conference call at 8:30 AM ET. The call can be accessed via phone or a live webcast on their corporate website. EyePoint is focused on developing innovative ophthalmic products, including DEXYCU®, the first approved intraocular treatment for postoperative inflammation, and YUTIQ®, a three-year treatment for chronic non-infectious uveitis. Their pipeline includes EYP-1901, targeting wet age-related macular degeneration.