EyePoint Pharmaceuticals, Inc. - EYPT STOCK NEWS

EyePoint Pharmaceuticals (NASDAQ: EYPT) announced the grant of non-statutory stock options to four new employees as inducement awards, in compliance with NASDAQ Listing Rule 5635(c)(4). On May 13, 2022, the company granted options for a total of 30,500 shares at an exercise price of $9.89 per share, the closing price on that date. These options have a ten-year term and vest over four years. EyePoint is focused on developing therapeutics for serious eye disorders, utilizing its Durasert® technology for sustained drug delivery, including the investigational treatment EYP-1901.

EyePoint Pharmaceuticals announced significant progress in its EYP-1901 clinical trials for wet AMD and NPDR. The Phase 1 trial showed positive eight-month safety and efficacy data, with net product revenues up 32% to $9.0 million in Q1 2022. A new license agreement with Betta Pharmaceuticals expands the development territory for EYP-1901. However, operating expenses rose to $27.6 million, leading to a net loss of $21.0 million. The company retains $190.8 million in cash and investments, expected to fund operations into 2024.

EyePoint Pharmaceuticals (NASDAQ: EYPT) has announced a licensing agreement with Betta Pharmaceuticals to develop and commercialize EYP-1901 in China, Hong Kong, Macau, and Taiwan. This extends their collaboration established in 2020 for vorolanib's use in ophthalmic diseases, including diabetic macular edema (DME). EyePoint retains global rights for EYP-1901 outside these territories. The agreement is expected to accelerate the clinical development of EYP-1901, which is aimed at treating serious eye disorders, addressing significant unmet needs in the region.

EyePoint Pharmaceuticals (NASDAQ: EYPT) announced it will host a conference call on May 4, 2022, at 8:30 a.m. ET to discuss its first quarter 2022 financial results and recent corporate developments. The call can be accessed by dialing (877) 312-7507 for domestic or (631) 813-4828 for international listeners, using conference ID 9257913. Additionally, a live audio webcast will be available on the company’s website, along with a replay post-call.

EyePoint specializes in therapeutics for serious eye disorders, leveraging its Durasert® technology for sustained drug delivery.

EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT) announced that CEO Nancy Lurker will participate in a fireside chat at the B. Riley 2022 Virtual Neuro & Ophthalmology Conference on April 28, 2022, at 9:30 am ET. The event will be accessible via a live webcast and an archived replay on the Investors section of the Company's website, available for 90 days post-event. EyePoint specializes in therapeutics for serious eye disorders, notably using its Durasert® technology for sustained drug delivery, with products like YUTIQ® and the pipeline candidate EYP-1901 targeting wet age-related macular degeneration.

EyePoint Pharmaceuticals (NASDAQ: EYPT) announced the grant of non-statutory stock options to four new employees, totaling 56,500 shares. These options, approved by the Compensation Committee, were granted on April 14, 2022, with an exercise price of $12.69 per share. The awards aim to incentivize employment and have a ten-year term, vesting over four years, with 25% vesting after one year and the rest in monthly installments. EyePoint focuses on developing therapeutics for serious eye disorders, leveraging its Durasert technology for drug delivery.

On March 15, 2022, EyePoint Pharmaceuticals (NASDAQ: EYPT) granted non-statutory stock options to six new employees as inducement awards outside its 2016 Long-Term Incentive Plan. A total of 6,250 options were issued, each with an exercise price of $12.05, reflecting the closing stock price on the grant date. The options have a ten-year term, vesting 25% on the first anniversary and the remaining monthly over three years, contingent on continued employment. This move aims to attract talent to enhance its pipeline, including the Durasert®-based treatment for serious eye disorders.

EyePoint Pharmaceuticals has secured a $45 million loan agreement with Silicon Valley Bank, replacing its previous credit facility. This new arrangement lowers the interest rate from 12.5% to approximately 5%, leading to annualized savings of about $2.8 million. It comprises a $30 million term loan and a revolving credit facility of up to $15 million, primarily backed by the company’s accounts receivable. As of December 31, 2021, EyePoint had $211.6 million in cash and investments, enhancing its financial stability for future developments.

EyePoint Pharmaceuticals (NASDAQ: EYPT) announced the appointment of Isabelle Lefebvre as Chief Regulatory Officer, succeeding John Weet. With over 30 years of experience in regulatory affairs, Lefebvre previously led regulatory strategy at Hengrui USA and has a strong background in ocular drug approvals from her time at Bausch Health. Her expertise is seen as critical in advancing EyePoint's pipeline, particularly EYP-1901, aimed at treating retinal diseases. The company also granted her stock options for entering employment, compliant with Nasdaq rules.