Welcome to our dedicated page for EyePoint Pharmaceuticals news (Ticker: EYPT), a resource for investors and traders seeking the latest updates and insights on EyePoint Pharmaceuticals stock.
EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT) is a clinical-stage biopharmaceutical company headquartered in Watertown, Massachusetts. The company is committed to developing and commercializing ophthalmic products aimed at treating serious retinal diseases. EyePoint leverages its proprietary Durasert® technology, a sustained intraocular drug delivery system, to create treatments that can provide continuous therapeutic effects for extended periods.
EyePoint Pharmaceuticals has made significant strides in the field of retinal disease treatments. Its lead product candidate, DURAVYU™ (previously known as EYP-1901), is an investigational treatment for VEGF-mediated retinal diseases. This product combines vorolanib, a selective tyrosine kinase inhibitor, with the Durasert® technology to offer sustained delivery and improved patient outcomes. DURAVYU™ is currently undergoing clinical trials for conditions such as wet age-related macular degeneration (wet AMD) and non-proliferative diabetic retinopathy (NPDR).
The company also has several other promising candidates in its pipeline, including EYP-2301, a TIE-2 agonist, and razuprotafib, formulated with Durasert® technology to potentially enhance treatment outcomes for serious retinal diseases.
EyePoint’s innovative approach extends beyond product development to strategic partnerships and collaborations. The company has secured exclusive licenses for vorolanib from Equinox Sciences for all ophthalmic uses outside of China, Macao, Hong Kong, and Taiwan. Additionally, EyePoint has FDA-approved products such as RETISERT® and YUTIQ® that are based on its proprietary drug delivery technology.
Financially, EyePoint Pharmaceuticals has shown a solid performance with total net revenue of $46.0 million for the year ended December 31, 2023, compared to $41.4 million for the previous year. This growth is driven primarily by revenues from royalties and collaborations. The company has also strengthened its financial position with $331.1 million in cash, cash equivalents, and marketable securities as of December 31, 2023.
EyePoint is dedicated to driving innovation in ophthalmology and improving the quality of life for patients with serious eye conditions. With a focus on advancing its robust pipeline through clinical development, EyePoint Pharmaceuticals continues to make headway in addressing unmet medical needs in retinal diseases.
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.
EyePoint Pharmaceuticals (NASDAQ: EYPT) announced an amendment to its debt facility with CRG Servicing, waiving the net product revenue covenant for DEXYCU® and YUTIQ® for the year ending December 31, 2020. The revenue covenant for December 31, 2021, is reduced from $80 million to $45 million, reflecting a recovery in customer demand post-COVID-19. As of September 30, 2020, the company had approximately $28.7 million in cash. This amendment acknowledges encouraging recovery trends in customer demand and commercial progress.
EyePoint Pharmaceuticals (EYPT) reported estimated net product revenues for Q3 2020 between $5.5 and $5.9 million, a significant increase from $3.7 million in Q2 2020, as healthcare facilities resumed operations after COVID-19 closures.
Driving this growth was customer demand for YUTIQ and DEXYCU, with estimated revenues of $3.4-$3.5 million and $2.1-$2.4 million respectively. Demand for YUTIQ units increased to 450, while DEXYCU saw a rise to 4,700 units in Q3 2020.
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