Oyster Point Pharma, Inc. - OYST STOCK NEWS

Oyster Point Pharma reported Q3 2022 net product revenue of $5.6 million from TYRVAYA nasal spray, with approximately 34,000 prescriptions filled by about 6,100 eye care professionals. As of November 1, 2022, over 97,000 prescriptions were written since its launch in November 2021. The company announced its acquisition by Viatris, with a tender offer of $11.00 per share and potential additional payments based on performance metrics. The OLYMPIA Phase 2 trial enrollment for neurotrophic keratopathy is completed, with data expected in Q1 2023.

Oyster Point Pharma (Nasdaq: OYST) has agreed to be acquired by Viatris (Nasdaq: VTRS) for $11.00 per share in cash, plus a contingent value right of up to $2.00 per share, depending on performance targets for 2022. This acquisition aims to establish Viatris' new ophthalmology franchise, leveraging Oyster Point's FDA-approved TYRVAYA nasal spray and its pipeline of ocular therapies. The transaction has been unanimously approved by Oyster Point's board and is expected to close in Q1 2023.

Oyster Point Pharma (Nasdaq: OYST) will announce its Q3 2022 financial results on November 10, 2022, following which a live webcast and conference call will occur at 4:30 p.m. ET.

The company focuses on developing first-in-class therapies for ophthalmic diseases and received FDA approval for TYRVAYA® in October 2021. The webcast will be accessible via their website.

Oyster Point Pharma (Nasdaq: OYST) announced the grant of inducement stock options for 14,400 shares to seven new employees as part of its 2021 Inducement Incentive Plan. Each option has an exercise price of $8.08, equivalent to the closing price on the grant date. Options will vest over four years, based on continued service. This approval aligns with Nasdaq Listing Rule 5635(c)(4) and emphasizes Oyster Point's focus on attracting talent in the biopharmaceutical sector, which is crucial for its ongoing development and commercialization of therapies for ophthalmic diseases.

Oyster Point Pharma (Nasdaq: OYST) announced the grant of inducement non-qualified stock options for 11,300 shares to three new employees. The options are priced at $5.87 per share, equal to the closing price on the grant date, and will vest over four years. This decision aligns with Nasdaq's Listing Rule 5635(c)(4), emphasizing the company's commitment to attracting talent in the biopharmaceutical sector focused on ophthalmic diseases. The company continues to pursue innovation and expand its treatment pipeline following FDA approval of its first prescription treatment in October 2021.

Oyster Point Pharma (Nasdaq: OYST) announced new analyses to be presented at the World Cornea Congress VIII in Chicago on September 28-29, 2022. The presentations will focus on TYRVAYA® (varenicline solution) Nasal Spray's efficacy and cytokine levels in patients with dry eye disease. Featured analyses include tear film cytokine levels and a post-hoc analysis of clinical trials regarding antidepressant use. Notably, the congress emphasizes advancements in treating ocular conditions and the significance of identifying causes of dry eye.

Oyster Point Pharma, a commercial-stage biopharmaceutical company, has granted inducement non-qualified stock options to purchase 242,600 shares of common stock to 36 new employees. This action aligns with the Nasdaq Listing Rule 5635(c)(4). The stock options have exercise prices between $6.25 and $12.44 per share and will vest over four years, with a quarter vesting after the first year. Oyster Point Pharma focuses on developing therapies for ophthalmic diseases and has received FDA approval for its first prescription treatment.

Oyster Point Pharma (Nasdaq: OYST) presented new analyses at the Women in Ophthalmology Summer Symposium in Monterey, California, from August 25-28, 2022. The company focuses on developing first-in-class therapies for ophthalmic diseases. Chief Medical Officer Marian Macsai highlighted TYRVAYA® (varenicline nasal spray) data showing effective treatment for dry eye disease, particularly prevalent among women. Key presentations include studies on fellow eye outcomes and the nasal spray's effectiveness in autoimmune disease. TYRVAYA received FDA approval in October 2021.

Oyster Point Pharma (Nasdaq: OYST) announced that its TYRVAYA^® Nasal Spray will be included in the formularies of the largest Medicare Pharmacy Benefit Manager, effective September 1, 2022. This milestone is expected to enhance patient access and increase prescriptions among eye care professionals. Nearly 50% of dry eye disease prescriptions in the U.S. are Medicare covered. TYRVAYA, FDA-approved for dry eye treatment, utilizes varenicline to stimulate tear production through the trigeminal nerve pathway. This development signals a significant opportunity for Oyster Point Pharma in expanding its market reach.