Oyster Point Pharma, Inc. - OYST STOCK NEWS

Oyster Point Pharma reported Q2 2022 net product revenue of $4.7 million from TYRVAYA, a 74% increase from the previous quarter. Approximately 30,000 prescriptions filled by over 5,700 eye care professionals demonstrate strong market uptake. The company aims to enhance patient access with Medicare Part D coverage anticipated by Q4 2022. A restructuring plan is expected to cut operational costs by $6 million to $8 million in H2 2022. The OLYMPIA Phase 2 trial continues, with results expected in Q4 2022, while a Pre-IND request for a gene therapy is underway.

Oyster Point Pharma will announce its Q2 2022 financial results on August 11, 2022, after market close, followed by a conference call at 4:30 p.m. ET. The company, focusing on treatments for ophthalmic diseases, gained FDA approval for the TYRVAYA® Nasal Spray in October 2021. The live audio webcast can be accessed via the company’s website, where a replay will also be available. This event showcases the company's ongoing commitment to advancing its pipeline of innovative therapies for unmet patient needs.

Oyster Point Pharma (OYST) announced major updates regarding its product TYRVAYA, a nasal spray for dry eye disease. As of July 2022, TYRVAYA is now covered by the top three pharmacy benefit managers, enhancing patient access. The company has implemented expanded patient access programs to include more eligible patients. Since its launch, about 7,400 eye care prescribers have written prescriptions, achieving approximately 21% market share of new-to-brand prescriptions. Future plans include Medicare Part D coverage in 2023. Positive feedback from patients reinforces the product's potential.

Oyster Point Pharma (OYST) announced a strategic plan to enhance the commercial success of TYRVAYA^® (varenicline solution) Nasal Spray, focusing on reducing operating expenses and increasing sales resources. The initiative aims to save approximately $6-8 million in the latter half of 2022 and $40-48 million in 2023 by cutting employee costs and streamlining operations. The company will also prioritize R&D efforts on OC-01 for Neurotrophic Keratopathy and expects results from the OLYMPIA Phase 2 clinical trial in Q4 2022. Leadership changes are also set to occur.

Oyster Point Pharma announced its scientific poster showcasing pivotal clinical trial data for TYRVAYA® (varenicline solution) Nasal Spray has been selected for the Top 5 Poster Session at the American Optometric Association's Optometry's Meeting, running from June 15-18, 2022, in Chicago. This recognition highlights a significant accomplishment amid nearly 200 submissions. The poster will discuss the treatment's effects across a spectrum of dry eye disease patients. TYRVAYA was FDA-approved in October 2021, addressing a substantial market need with an estimated 38 million individuals affected in the U.S.

Oyster Point Pharma reported Q1'22 net product revenue of $2.7 million from approximately 19,000 TYRVAYA prescriptions filled, marking a successful first quarter since the launch. The company expanded commercial coverage for TYRVAYA to cover up to 95 million lives. However, net loss grew to $47.9 million or ($1.80) per share, compared to $18.9 million or ($0.73) per share in Q1'21. Research and development expenses decreased to $4.7 million. The company continues to enroll patients for the OLYMPIA Phase 2 trial.

Oyster Point Pharma (Nasdaq: OYST) plans to announce its first quarter 2022 financial results on May 5, 2022, after market close. A conference call will follow at 4:30 p.m. ET, which can be accessed via phone or through a live webcast available on their website. The company is known for its innovative therapies for ophthalmic diseases and received FDA approval for TYRVAYA® in October 2021. The call will provide insights into their financial performance and future business strategies.

Oyster Point Pharma (Nasdaq: OYST) announced the presentation of pivotal trial data for TYRVAYA^® (varenicline solution) Nasal Spray at ARVO 2022, held on May 1-4. The new analyses focus on treating dry eye disease, specifically in autoimmune patients. Chief Medical Officer Marian Macsai highlighted the company's commitment to demonstrate TYRVAYA's efficacy and safety. Presentations include integrated data from ONSET-1 and ONSET-2 trials, and insights from a PEARL Phase 2 study. TYRVAYA Nasal Spray is FDA-approved for dry eye disease symptoms, impacting 38 million U.S. adults.

Oyster Point Pharma, focused on ophthalmic diseases, presented data at the ASCRS meeting highlighting its FDA-approved product, TYRVAYA® (varenicline solution) Nasal Spray, for treating dry eye disease affecting 38 million Americans. Key presentations include outcomes from ONSET-1 & ONSET-2 studies and symptom scores in patients. The company continues to advance its pipeline through innovation and collaborations, aiming to enhance patient care in dry eye disease.