Oyster Point Pharma Announces Addition To Nasdaq Biotechnology Index

Rhea-AI Summary

Oyster Point Pharma (Nasdaq: OYST) announced its inclusion in the Nasdaq Biotechnology Index, effective December 20, 2021. This index tracks performance of biotechnology and pharmaceutical securities listed on Nasdaq. The company's product, TYRVAYA (varenicline solution) Nasal Spray, is FDA-approved for treating dry eye disease, positioning it within a growing market. TYRVAYA leverages the trigeminal nerve to enhance tear production, with common side effects being sneezing and throat irritation. This addition to the index may enhance visibility and potentially investor interest.

Positive

• Inclusion in the Nasdaq Biotechnology Index may boost visibility and attract investor interest.
• FDA approval for TYRVAYA Nasal Spray positions the company favorably in the ophthalmic market.

Negative

• Common adverse reactions in patients include sneezing, with 82% reporting this side effect.

PRINCETON, N.J., Dec. 15, 2021 (GLOBE NEWSWIRE) -- Oyster Point Pharma, Inc. (Nasdaq: OYST), a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class pharmaceutical therapies to treat ophthalmic diseases, today announced that Oyster Point Pharma will be added to the Nasdaq Biotechnology Index (Nasdaq: NBI), which will become effective prior to market open on Monday, December 20^th.

The Nasdaq Biotechnology Index is designed to track the performance of a set of securities listed on The Nasdaq Stock Market^® (Nasdaq^®) that are classified as either biotechnology or pharmaceutical according to the Industry Classification Benchmark (ICB).

For more information about the Nasdaq Biotechnology Index, please visit here.

About TYRVAYA^TM (varenicline solution) Nasal Spray
TYRVAYA (varenicline solution) Nasal Spray 0.03 mg (formerly referred to as OC-01 nasal spray) is a highly selective cholinergic agonist that is FDA-approved to treat the signs and symptoms of dry eye disease as a multidose nasal spray. The parasympathetic nervous system, the “rest and digest” system of the body, controls tear film homeostasis partially via the trigeminal nerve, which is accessible within the nose. The efficacy of TYRVAYA Nasal Spray in dry eye disease is believed to be the result of varenicline's activity at heteromeric sub-type(s) of the nicotinic acetylcholine (nACh) receptor where its binding produces agonist activity and activates the trigeminal parasympathetic pathway resulting in increased production of basal tear film as a treatment for dry eye disease. Varenicline binds with high affinity and selectivity at human α4β2, α4α6β2, α3β4, α3α5β4 and α7 neuronal nicotinic acetylcholine receptors. The exact mechanism of action is unknown at this time.

TYRVAYA^TM Important Safety Information
The most common adverse reaction reported in 82% of patients was sneezing. Events that were reported in 5-16% of patients were cough, throat irritation, and instillation-site (nose) irritation. There are no contraindications associated with TYRVAYA^TM (varenicline solution) Nasal Spray.

Please see full Prescribing Information at www.tyrvaya-pro.com/prescribinginformation.

About Oyster Point Pharma, Inc.
Oyster Point Pharma is a commercial-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class pharmaceutical therapies to treat ophthalmic diseases. In October 2021, Oyster Point Pharma received FDA approval for TYRVAYA^TM (varenicline solution) Nasal Spray for the treatment of the signs and symptoms of dry eye disease. Oyster Point has a growing pipeline of clinical and pre-clinical programs and continues to expand its research and development pipeline through internal innovation and external collaborations. Oyster Point is continuously striving to advance breakthrough science and deliver therapies seeking to address the unmet needs of patients with ophthalmic disease and the eye care professionals who take care of them. For more information, visit www.oysterpointrx.com and follow @OysterPointRx on Twitter and LinkedIn.

Investor Contact
Tim McCarthy
LifeSci Advisors, LLC
(212) 915-2564
investors@oysterpointrx.com

Media Contact
Sheryl Seapy
Real Chemistry
(213) 262-9390
sseapy@realchemistry.com

FAQ

What is the significance of Oyster Point Pharma being added to the Nasdaq Biotechnology Index?

Oyster Point Pharma's inclusion in the Nasdaq Biotechnology Index enhances its visibility in the market and could attract more investors.

When will Oyster Point Pharma be added to the Nasdaq Biotechnology Index?

Oyster Point Pharma will be added to the Nasdaq Biotechnology Index effective December 20, 2021.

What is TYRVAYA and what is it used for?

TYRVAYA (varenicline solution) Nasal Spray is FDA-approved for treating dry eye disease.

What are the common side effects of TYRVAYA?

Common side effects of TYRVAYA include sneezing, cough, and throat irritation.

What is the stock symbol for Oyster Point Pharma?

The stock symbol for Oyster Point Pharma is OYST.