EyePoint (NASDAQ: EYPT) widens Q1 2026 loss while funding DURAVYU Phase 3
Rhea-AI Filing Summary
EyePoint, Inc. reported first-quarter 2026 results, combining heavier investment in its DURAVYU retinal franchise with a larger loss. Total revenue was $0.7 million, down from $24.5 million a year earlier, mainly because prior-year results included recognition of deferred license revenue from YUTIQ rights.
Operating expenses rose to $87.9 million from $73.3 million, driven by Phase 3 DURAVYU trials in wet AMD and DME and scaling its commercial manufacturing facility. EyePoint posted a net loss of $84.8 million, or ($0.99) per share, versus a $45.2 million loss, or ($0.65) per share, in 2025.
Cash, cash equivalents and marketable securities totaled $223 million as of March 31, 2026, down from $306 million on December 31, 2025. The company expects this cash to fund operations into the fourth quarter of 2027, beyond anticipated DURAVYU Phase 3 wet AMD milestones beginning mid-2026.
Positive
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Insights
EyePoint trades near-term revenue for DURAVYU Phase 3 investment and maintains cash runway into Q4 2027.
EyePoint’s Q1 2026 shows the model shifting fully toward DURAVYU development. Revenue fell to $0.7M from $24.5M, largely because 2025 benefited from deferred license revenue tied to YUTIQ rights, while current revenue is mostly low product and royalty streams.
Operating expenses climbed to $87.9M, with research and development at $72.1M, reflecting parallel Phase 3 programs in wet AMD and DME plus manufacturing scale-up. This pushed net loss to $84.8M, nearly double the prior-year period, illustrating the cost of running multiple late-stage trials.
Cash and investments of $223M as of March 31, 2026, compared with $306M at year-end, underpin management’s guidance of runway into Q4 2027. That timeframe spans expected DURAVYU Phase 3 wet AMD topline data beginning mid-2026 and DME readouts anticipated in Q4 2027, tying financial visibility to key clinical milestones.
8-K Event Classification
Key Figures
Key Terms
diabetic macular edema medical
Phase 3 medical
non-inferiority trials medical
tyrosine kinase inhibitor medical
forward-looking statements regulatory
Earnings Snapshot
EyePoint expects cash, cash equivalents and marketable securities as of March 31, 2026, to fund operations into the fourth quarter of 2027 beyond key Phase 3 wet AMD milestones in 2026.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Securities registered pursuant to Section 12(b) of the Act:
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operations and Financial Condition.
On May 6, 2026, EyePoint, Inc. (the “Company”) issued a press release announcing its financial results for the quarter ended March 31, 2026 and certain other information. A copy of the press release is furnished as Exhibit 99.1 hereto.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit No. |
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Description |
99.1 |
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Press Release of EyePoint, Inc., dated May 6, 2026 |
104 |
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Cover Page Interactive Data File (embedded within the inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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EYEPOINT, INC. |
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Date: |
May 6, 2026 |
By: |
/s/ George O. Elston |
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George O. Elston |
Exhibit 99.1
EyePoint Reports First Quarter 2026 Financial Results and Highlights Recent Corporate Developments
WATERTOWN, Mass., May 6, 2026 (GLOBE NEWSWIRE) – EyePoint, Inc. (Nasdaq: EYPT), a company committed to developing and commercializing innovative therapeutics to improve the lives of patients with serious retinal diseases, today announced financial results for the first quarter ended March 31, 2026, and highlighted recent corporate developments.
“We are entering an important time for EyePoint and the retina community with Phase 3 topline data for DURAVYU in wet AMD expected beginning mid-year with LUGANO topline data and the identical LUCIA trial data readout to follow.” said Jay S. Duker, M.D., President and Chief Executive Officer of EyePoint. “In parallel, enrollment in our Phase 3 DME program is meeting our ambitious timelines with full enrollment expected in the third quarter of 2026, positioning DURAVYU for pivotal readouts in the two largest multi-billion-dollar retina markets.”
Dr. Duker continued, “DURAVYU is well positioned to potentially bring a new multi-mechanism of action sustained delivery treatment option to patients and physicians in these important retinal disease markets. DURAVYU’s robust clinical profile to date, combined with our de-risked and patient-centric approach, drives our conviction for its best- and first-in-class potential.”
R&D Highlights and Updates
DURAVYU (vorolanib intravitreal insert) in Wet Age-Related Macular Degeneration (Wet AMD)
DURAVYU (vorolanib intravitreal insert) in Diabetic Macular Edema (DME)
Exhibit 99.1
DURAVYU Highlights
Review of Results for the First Quarter Ended March 31, 2026
For the first quarter ended March 31, 2026, total net revenue was $0.7 million compared to $24.5 million for the corresponding period in 2025. The decrease was primarily driven by the recognition of remaining deferred revenue related to the Company’s 2023 agreement for the license of YUTIQ® product rights.
Operating expenses for the first quarter ended March 31, 2026, totaled $87.9 million versus $73.3 million in the prior year period. This increase was primarily attributable to ongoing DURAVYU Phase 3 clinical trials for wet AMD and DME and scale-up of our commercial manufacturing facility.
Net non-operating income totaled $2.3 million and net loss was $84.8 million, or ($0.99) per share, compared to a net loss of $45.2 million, or ($0.65) per share, for the corresponding period in 2025.
Cash, cash equivalents, and marketable securities as of March 31, 2026, totaled $223 million compared to $306 million as of December 31, 2025.
Financial Outlook
We expect the cash, cash equivalents, and marketable securities as of March 31, 2026, will enable us to fund operations into the fourth quarter of 2027 beyond key milestones for the Phase 3 wet AMD program in 2026.
Conference Call Information
EyePoint will host a conference call today at 8:30 a.m. ET to discuss the results for the first quarter ended March 31, 2026, and recent corporate developments. To access the live conference call, please register at https://edge.media-server.com/mmc/p/hjmg6gw2. A live audio webcast of the event can be accessed via the Investors section of the Company website at www.eyepoint.bio. A webcast replay will also be available on the corporate website at the conclusion of the call.
About EyePoint
Exhibit 99.1
EyePoint, Inc. (Nasdaq: EYPT) is a clinical-stage biopharmaceutical company committed to developing and commercializing innovative therapeutics to improve the lives of patients with serious retinal diseases. The Company’s lead product candidate, DURAVYU™, is an innovative investigational sustained delivery treatment for serious retinal diseases combining vorolanib, a selective and patent-protected tyrosine kinase inhibitor, in next-generation bioerodible Durasert E™ technology. Supported by robust safety and efficacy data across multiple clinical trials and indications, DURAVYU is currently being evaluated in Phase 3 pivotal trials for wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). Topline data is expected for wet AMD beginning in mid-2026.
The Company is committed to partnering with the retina community to improve patient lives while creating long-term value, with four approved drugs over three decades and tens of thousands of eyes treated with EyePoint innovation.
EyePoint is headquartered in Watertown, Massachusetts, with a commercial 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.
Forward Looking Statements
EYEPOINT SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION ACT OF 1995: To the extent any statements made in this press release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding our expectations regarding our clinical development and regulatory plans; our belief that DURAVYU™ is well-positioned to be the first-to-market among all investigational sustained release treatments for the two largest retinal disease markets, wet AMD and DME; our belief that DURAVYU is the only TKI in development for DME; our belief that DURAVYU is uniquely positioned to potentially address both VEGF-mediated vascular leakage and IL-6 mediated inflammatory drivers of DME as a sustained delivery therapy; our belief that DURAVYU’s potential real-world application in multiple retinal disease indications and established trial designs position DURAVYU for clinical and commercial success; our expectations regarding the timing of the availability and release of wet AMD and DME clinical data; our financial position and expected cash runway; our belief that DURAVYU has the potential to maintain a majority of patients with active disease with no supplemental anti-VEGF therapy for six months or longer; our beliefs regarding the potential market opportunity for DURAVYU in wet AMD and DME; our ability to continue to scale operations at our commercial manufacturing facility in Northbridge, Massachusetts; our expectations that our manufacturing facility will continue to meet FDA and EMA standards and support commercialization efforts of DURAVYU upon regulatory approval; and our expectations regarding the timing and clinical development of our other product candidates; and other statements regarding the Company’s future plans, objectives, strategies and beliefs, as identified by words such as “will,” “potential,” “could,” “can,” “believe,” “intends,” “continue,” “plans,” “expects,” “anticipates,” “estimates,” “may,” or other words of similar meaning or the use of future dates.
Exhibit 99.1
Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause EyePoint’s actual results to be materially different than those expressed in or implied by EyePoint’s forward-looking statements. For EyePoint, these risks and uncertainties include the timing, progress and results of the Company’s clinical development activities; uncertainties and delays relating to communications with the U.S. Food and Drug Administration and the ability to obtain regulatory approval from FDA for the commercialization of DURAVYU; unanticipated costs and expenses; the Company’s cash and cash equivalents may not be sufficient to support its operating plan for as long as anticipated; the risk that results of clinical trials may not be predictive of future results, and interim and preliminary data are subject to further analysis and may change as more data becomes available; unexpected safety or efficacy data observed during clinical trials; uncertainties related to the regulatory authorization or approval process, and available development and regulatory pathways for approval of the Company’s product candidates; changes in the regulatory environment; disruptions at the FDA; changes in U.S. and international trade policies; changes in expected or existing competition; the success of current and future license agreements; our dependence on contract research organizations, and other outside vendors and service providers; product liability; the impact of general business and economic conditions; protection of our intellectual property and avoiding intellectual property infringement; retention of key personnel; delays, interruptions or failures in the manufacture and supply of our product candidates, including due to unanticipated regulatory compliance issues or warning letters relating to the Company’s manufacturing facilities; the availability of and the need for additional financing; our ability to obtain additional funding to support our clinical development programs; our ability to enter into a settlement agreement and corporate integrity agreement with the government regarding the DOJ investigation and uncertainties related to the impact such agreements would have on our business, financial condition and operations; uncertainties regarding the FDA warning letter pertaining to the Company’s Watertown, MA manufacturing facility; and other factors described in our filings with the Securities and Exchange Commission. We cannot guarantee that the results and other expectations expressed, anticipated or implied in any forward-looking statement will be realized. A variety of factors, including these risks, could cause our actual results and other expectations to differ materially from the anticipated results or other expectations expressed, anticipated or implied in our forward-looking statements. Should known or unknown risks materialize, or should underlying assumptions prove inaccurate, actual results could differ materially from past results and those anticipated, estimated or projected in the forward-looking statements. You should bear this in mind as you consider any forward-looking statements. A more complete discussion of the risks and uncertainties that may cause our actual results to differ materially from those expressed or implied in the forward-looking statements in this press release are described under the heading "Risk Factors" in our most recent Annual Report on Form 10-K, in our other filings with the Securities and Exchange Commission (SEC) and in our future reports to be filed with the SEC, which are available at www.sec.gov. Our forward-looking statements speak only as of the dates on which they are made. EyePoint undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Investors:
Tanner Kaufman / Jenni Lu
FTI Consulting
Direct: 203-722-8743 / 667-321-6018
tanner.kaufman@fticonsulting.com / jenni.lu@fticonsulting.com
Exhibit 99.1
Media Contact:
Green Room Communications
Direct: 850-384-2833
EyePointMedia@grcomms.com
Exhibit 99.1
EYEPOINT, INC. AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(Unaudited)
(In thousands)
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March 31, |
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December 31, |
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2026 |
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2025 |
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Assets |
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Current assets: |
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Cash and cash equivalents |
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$ |
77,712 |
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$ |
101,821 |
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Marketable securities |
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144,833 |
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204,265 |
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Accounts and other receivables, net |
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1,157 |
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651 |
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Prepaid expenses and other current assets |
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24,552 |
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20,105 |
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Inventory |
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1,250 |
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1,813 |
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Total current assets |
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249,504 |
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328,655 |
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Operating lease right-of-use assets |
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19,777 |
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20,223 |
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Other assets |
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18,936 |
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15,118 |
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Total assets |
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$ |
288,217 |
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$ |
363,996 |
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Liabilities and stockholders' equity |
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Current liabilities: |
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Accounts payable and accrued expenses |
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$ |
35,254 |
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$ |
34,884 |
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Other current liabilities |
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2,206 |
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2,140 |
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Total current liabilities |
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37,460 |
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37,024 |
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Operating lease liabilities - noncurrent |
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20,230 |
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20,772 |
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Other noncurrent liabilities |
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55 |
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87 |
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Total liabilities |
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57,745 |
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57,883 |
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Stockholders' equity: |
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Capital |
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1,419,480 |
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1,410,130 |
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Accumulated deficit |
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(1,189,810 |
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(1,104,978 |
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Accumulated other comprehensive income |
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802 |
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961 |
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Total stockholders' equity |
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230,472 |
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306,113 |
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Total liabilities and stockholders' equity |
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$ |
288,217 |
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$ |
363,996 |
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Exhibit 99.1
EYEPOINT, INC. AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
(In thousands, except per share data)
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March 31, |
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2026 |
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2025 |
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Revenues: |
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Product sales, net |
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$ |
467 |
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$ |
715 |
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License and collaboration agreements |
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88 |
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11,049 |
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Royalty income |
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141 |
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12,689 |
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Total revenues |
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696 |
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24,453 |
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Operating expenses: |
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Cost of sales |
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528 |
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805 |
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Research and development |
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72,148 |
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58,574 |
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Sales and marketing |
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3 |
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35 |
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General and administrative |
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15,243 |
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13,876 |
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Total operating expenses |
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87,922 |
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73,290 |
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Loss from operations |
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(87,226 |
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(48,837 |
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Other income (expense): |
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Interest and other income, net |
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2,344 |
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3,642 |
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Total other income, net |
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2,344 |
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3,642 |
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Net loss before provision for income taxes |
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(84,882 |
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(45,195 |
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Provision for income taxes |
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50 |
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— |
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Net loss |
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$ |
(84,832 |
) |
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$ |
(45,195 |
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Net loss per common share - basic and diluted |
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$ |
(0.99 |
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$ |
(0.65 |
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Weighted average common shares outstanding - basic and diluted |
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85,999 |
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69,767 |
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