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 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.
EyePoint Pharmaceuticals (NASDAQ:EYPT) will have CEO Nancy Lurker present at two virtual conferences this September. The Cantor Virtual Healthcare Conference is scheduled for September 15 at 4:40 PM Eastern Time, followed by the H.C. Wainwright 22nd Annual Global Investment Conference on September 16 at 2:00 PM Eastern Time. A live webcast and replay will be accessible on their Investors page for 90 days. EyePoint specializes in innovative ophthalmic products, with commercial offerings including DEXYCU® and YUTIQ®, as well as pipeline developments using their Durasert® technology.
EyePoint Pharmaceuticals (NASDAQ: EYPT) has entered a purchase and marketing agreement with Vantage Outsourcing for its ophthalmic product DEXYCU®, enabling broader access in over 25 states. This collaboration aims to integrate DEXYCU into surgical protocols for treating ocular inflammation related to cataract surgery. President Nancy Lurker emphasizes the partnership's potential for expanding their reach within the cataract surgery market. Vantage Outsourcing's services will enhance the postoperative experience for patients by providing a long-lasting anti-inflammatory treatment.
EyePoint Pharmaceuticals (NASDAQ: EYPT) has expanded its exclusive licensing agreements with Ocumension Therapeutics for the commercialization of YUTIQ® and DEXYCU® in Asian markets. Ocumension will pay EyePoint $9.5 million, which covers prior milestone payments for regulatory and commercial sales. This partnership aims to enhance the availability of these therapies in South Korea and Southeast Asia, addressing significant unmet medical needs in ocular diseases. The financial influx will support ongoing clinical developments, including EYP-1901, a potential six-month treatment for wet age-related macular degeneration.
EyePoint Pharmaceuticals (NASDAQ: EYPT) presented data supporting the efficacy of YUTIQ® at the ASRS Virtual Annual Meeting. YUTIQ is a fluocinolone acetonide intravitreal implant for treating chronic, non-infectious uveitis affecting the posterior segment of the eye. The Phase 3 trial involved 129 patients and highlighted a lower recurrence rate of uveitis with YUTIQ compared to sham treatment. Key findings included a 48% reduction in macular edema for YUTIQ patients and improved visual acuity results. YUTIQ is indicated for long-term treatment, providing benefits during the COVID-19 pandemic.
EyePoint Pharmaceuticals (NASDAQ: EYPT) appointed Dr. Jay S. Duker as Chief Strategic Scientific Officer to lead the development of EYP-1901, targeted at wet age-related macular degeneration. Dr. Duker, a renowned retina specialist with over 30 years of experience, will focus on advancing research and pipeline expansion while continuing to practice medicine. He steps down from the Board of Directors to take on this part-time role. The company granted him stock options for 250,000 shares as part of the inducement for his appointment.
EyePoint Pharmaceuticals (NASDAQ:EYPT) announced that CEO Nancy Lurker will present at the Jefferies Virtual Healthcare Conference on June 2, 2020, at 8:30 AM ET. The event will be streamed live and an archived replay will be available on the company's website for 90 days. EyePoint is focused on innovative ophthalmic products addressing unmet medical needs, with two commercial products: DEXYCU and YUTIQ. Their pipeline includes EYP-1901, a VEGF inhibitor aimed at treating various serious eye disorders. For more information, visit www.eyepointpharma.com.
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