EyePoint Pharmaceuticals, Inc. - EYPT STOCK NEWS

EyePoint Pharmaceuticals reported Q3 2024 financial results and corporate updates. Key highlights include positive interim data for DURAVYU 2.7mg in DME showing +8.9 letters BCVA improvement and -68 microns CST reduction at 16 weeks. The company initiated Phase 3 LUGANO trial for wet AMD and completed a $161M equity financing. Q3 revenue was $10.5M, down from $15.2M in Q3 2023. Net loss increased to $29.4M ($0.54 per share) from $12.6M ($0.33 per share) year-over-year. Cash position stands at $253.8M, with runway extended into 2027 following the recent financing.

EyePoint Pharmaceuticals (NASDAQ: EYPT), a company focused on developing therapeutics for serious retinal diseases, has announced its participation in four upcoming investor conferences in November and December 2024. The company will participate in Guggenheim's Inaugural Healthcare Innovation Conference (Nov 11), UBS Global Healthcare Conference (Nov 13), Jefferies London Healthcare Conference (Nov 19), and BTIG 4th Annual Ophthalmology Day (Dec 2). Each event will feature either a fireside chat or corporate presentation format. Live webcasts and replays will be available through the Investors section of EyePoint's website.

EyePoint Pharmaceuticals (NASDAQ: EYPT) has successfully closed its upsized public offering of 14,636,363 shares of common stock at $11.00 per share, including the full exercise of underwriters' option for additional 1,909,090 shares. The offering generated gross proceeds of approximately $161.0 million. The company plans to use the proceeds to advance clinical development of DURAVYU™ for wet AMD and DME, support early-stage pipeline initiatives, and for general corporate purposes. J.P. Morgan, Citigroup, and Guggenheim Securities served as joint book running managers.

EyePoint Pharmaceuticals (NASDAQ: EYPT) has announced the pricing of an upsized public offering of 12,727,273 shares of common stock at $11.00 per share, expecting to raise approximately $140.0 million in gross proceeds. The company has granted underwriters a 30-day option to purchase up to an additional 1,909,090 shares. The offering is expected to close around October 31, 2024. The proceeds will be used to advance clinical development of DURAVYU™ for wet AMD and DME, support pipeline development initiatives, and general corporate purposes.

EyePoint Pharmaceuticals (NASDAQ: EYPT) has announced a proposed public offering of $100 million of common stock shares, with an additional 30-day option for underwriters to purchase up to $15 million of shares. The offering, managed by J.P. Morgan, Citigroup, and Guggenheim Securities, aims to fund the clinical development of DURAVYU™ for wet AMD and DME treatments, support pipeline development, and general corporate purposes. The offering will be conducted under a previously filed S-3 registration statement.

EyePoint Pharmaceuticals announced positive interim 16-week data from its Phase 2 VERONA clinical trial of DURAVYU™ for Diabetic Macular Edema (DME). The DURAVYU 2.7mg demonstrated significant improvements with a gain of +8.9 letters in best-corrected visual acuity (BCVA) and a 68-micron reduction in central subfield thickness (CST) compared to baseline. The treatment showed a favorable safety profile with no DURAVYU-related serious adverse events. Notably, 82% of eyes in the DURAVYU 2.7mg arm remained supplement-free versus 50% in the aflibercept control arm at 16 weeks. The company expects to report full topline results in Q1 2025.

EyePoint Pharmaceuticals has dosed the first patient in its Phase 3 LUGANO clinical trial of DURAVYU™ for wet age-related macular degeneration (wet AMD). The trial, along with the upcoming LUCIA study, will evaluate DURAVYU's efficacy against aflibercept in approximately 400 patients globally. DURAVYU is administered every six months, compared to current treatments requiring frequent injections. The primary endpoint is measuring change in best corrected visual acuity at weeks 52 and 56. With over 150 clinical sites committed, the company expects topline data in 2026. The trials include both treatment-naïve and experienced patients, reflecting real-world populations.

EyePoint Pharmaceuticals (NASDAQ: EYPT) has announced the granting of non-statutory stock options to four new employees as inducement awards outside the Company's 2023 Long-Term Incentive Plan. These grants, approved by the Compensation Committee, are in accordance with NASDAQ Listing Rule 5635(c)(4). The stock options, totaling 69,000 shares of EyePoint Pharmaceuticals common stock, were granted on October 15, 2024, with an exercise price of $9.88 per share.

The 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. Vesting is subject to continued service with the company.

EyePoint Pharmaceuticals (NASDAQ: EYPT) has granted non-statutory stock options to two new employees as inducement awards outside its 2023 Long-Term Incentive Plan. The grants, approved by the Compensation Committee, comply with NASDAQ Listing Rule 5635(c)(4). Key details include:

• 43,000 shares of common stock options granted
• Grant date: September 13, 2024
• Exercise price: $9.10 per share (closing price on grant date)
• Ten-year term
• Vesting over four years: 25% after one year, remainder in monthly installments over three years
• Vesting contingent on continued employment

These inducement awards aim to attract and retain talent in EyePoint's mission to develop therapeutics for serious retinal diseases.