EYPT EyePoint Pharmaceuticals Inc.

10.01
-0.12  -1%
Previous Close 10.13
Open 10.07
52 Week Low 3.511
52 Week High 15.06
Market Cap $287,702,165
Shares 28,741,475
Float 24,451,409
Enterprise Value $286,549,141
Volume 175,908
Av. Daily Volume 374,987
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Upcoming Catalysts

Drug Stage Catalyst Date
EYP-1901
Wet age-related macular degeneration (AMD)
Phase 1
Phase 1
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Drug Pipeline

Drug Stage Notes
Yutiq
Non-infectious uveitis
sNDA Filing
sNDA Filing
sNDA filing planned.
YUTIQ
Non-infectious uveitis
Approved
Approved
FDA approval announced October 15, 2018.
Iluvien
Diabetic macular edema
Approved
Approved
CRL Nov 2011. Second CRL Oct 17 2013. Approved Sept 26 2014

Latest News

  1. - $115.1 million follow-on financing completed in February 2021

    - First patient dosed in Phase 1 clinical trial with EYP-1901 in January 2021

    - $16.5 million monetization of ILUVIEN Royalty with $15 million applied to reduction in debt obligations in December 2020

    - $15.7 million equity investment by Asia partner Ocumension Therapeutics in December 2020

    - Total revenues for Full Year 2020 of $34.4 million including net product revenues of $20.8 million

     - Management to host a conference call and webcast today at 8:30 AM ET 

    WATERTOWN, Mass., March 04, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing…

    - $115.1 million follow-on financing completed in February 2021

    - First patient dosed in Phase 1 clinical trial with EYP-1901 in January 2021

    - $16.5 million monetization of ILUVIEN Royalty with $15 million applied to reduction in debt obligations in December 2020

    - $15.7 million equity investment by Asia partner Ocumension Therapeutics in December 2020

    - Total revenues for Full Year 2020 of $34.4 million including net product revenues of $20.8 million

     - Management to host a conference call and webcast today at 8:30 AM ET 

    WATERTOWN, Mass., March 04, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced financial results for the fourth quarter and year ended December 31, 2020 and highlighted recent corporate developments.

    "This year was transformative for EyePoint, across all clinical, financial and commercial fronts, despite the impact of COVID-19 on our business. In December 2020, we filed the IND for EYP-1901, a potential twice-yearly sustained delivery intravitreal anti-VEGF treatment for wet age-related macular degeneration (wet AMD), and the first patient was dosed in January. We are excited about the potential for EYP-1901 to dramatically transform the treatment of wet AMD offering patients the opportunity for fewer treatments and improved results," said Nancy Lurker, President and Chief Executive Officer of EyePoint Pharmaceuticals. "On the commercial front, despite the challenges of COVID-19 with closures in the earlier part of the year, we were pleased to see a return of customer demand of our commercial products to near pre-COVID levels in the second half of 2020."

    Ms. Lurker continued, "In addition to the advancement of EYP-1901, we have made tremendous progress to improve our balance sheet, including a recent upsized follow-on stock offering with $115.1 million of gross proceeds and a $16.5 million royalty monetization with $15 million applied to reduce outstanding debt obligations."

    Corporate Update

    • In February 2021, the Company completed an upsized underwritten public offering of 10,465,000 shares of its common stock at a public offering price of $11.00 per share, including the exercise in full by the underwriters of their option to purchase up to 1,365,000 additional shares of common stock. The gross proceeds of the offering to the Company were approximately $115.1 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. Cowen and Guggenheim acted as joint book-running managers for the offering.
    • In December, Ocumension Therapeutics, a China-based ophthalmic pharmaceutical company traded on the Stock Exchange of Hong Kong (1477.HK), made a $15.7 million equity investment in EyePoint, purchasing approximately 3.01 million shares of EyePoint's common stock.
    • Also in December, EyePoint announced a royalty monetization agreement with SWK Holdings Corporation for royalties payable to EyePoint under its license agreement with Alimera Sciences, Inc. for ILUVIEN®. EyePoint received a one-time $16.5 million payment from SWK in exchange for the rights to future royalties payable to EyePoint from the Alimera agreement. $15 million of the net proceeds from this transaction were applied toward debt obligations with CRG Servicing LLC (CRG). The remaining $1.5 million will be used to advance product pipeline programs.

    Commercial Performance in Fourth Quarter 2020

    • Net product revenue for YUTIQ and DEXYCU was $4.0 million and $2.7 million, respectively.



    • Customer demand of approximately 6,200 units for DEXYCU and approximately 500 units for YUTIQ, increases of 30% and 10%, respectively, over Q3 2020.



    • DEXYCU commercial alliance partner, ImprimisRx®, began driving volume through their experienced cataract surgery field force, materially adding to Q4 customer demand.

    R&D Highlights

    • In January 2021, the Company announced that the first patient was dosed in the Phase 1 clinical trial of EYP-1901 as a potential twice-yearly sustained delivery anti-VEGF treatment targeting wet AMD. EYP-1901 leverages a bioerodible formulation of the Company's proprietary Durasert® drug delivery technology platform that has been used in four FDA-approved products, including EyePoint's YUTIQ® for chronic non-infectious uveitis affecting the posterior segment of the eye.

    • In November, positive data for YUTIQ® and DEXYCU® were featured in four presentations at the American Academy of Ophthalmology (AAO) 2020 Virtual Annual Meeting. Statistically significant efficacy results from the second Phase 3 trial of YUTIQ were presented and post-cataract surgery inflammatory reduction data from a multicenter retrospective study of real-world usage of DEXYCU were also presented.

    Review of Results for Fourth Quarter Ended December 31, 2020

    For the three months ended December 31, 2020, total net revenue was $7.1 million compared to $8.6 million for the three months ended December 31, 2019. Net product revenue for the three months ended December 31, 2020 was $6.7 million, with $4.0 million for YUTIQ and $2.7 million for DEXYCU, compared to net product revenue for three months ended December 31, 2019 of $7.9 million with $4.8 million for YUTIQ and $3.1 million for DEXYCU. Net product revenue represents product purchased by EyePoint's distributors whereas customer demand represents purchases of product by physician practices and ASCs from EyePoint's distributors.

    Net revenue from licenses, royalties and collaborations for the three months ended December 31, 2020 totaled $0.4 million compared to $0.7 million in the corresponding quarter in 2019.

    Operating expenses for the three months ended December 31, 2020 totaled $19.9 million compared to $17.6 million in the prior year period. This increase was driven by a $1.6 million increase in G&A expense, a $1.1 million increase in cost of sales and a $1.1 million increase in R&D expense being partially offset by a $1.6 million reduction in sales and marketing expense. Non-operating expense, net, for the three months ended December 31, 2020 totaled $2.7 million of net interest expense. Net loss for the three months ended December 31, 2020 was $15.5 million, or $1.07 per share, compared to a net loss of $10.4 million, or $0.98 per share, for the prior year quarter.

    Review of Results for the Full Year Ended December 31, 2020

    For the full year ended December 31, 2020, total net revenue was $34.4 million compared to $20.4 million for the full year ended December 31, 2019. Net product revenue for the full year ended December 31, 2020 was $20.8 million, compared to net product revenues for the full year ended December 31, 2019 of $16.8 million.

    Net revenue from royalties and collaborations for the full year ended December 31, 2020 totaled $13.6 million compared to $3.5 million in the corresponding period in 2019.

    Operating expenses for the full year ended December 31, 2020 totaled $71.7 million versus $68.2 million in the prior year period. This increase was primarily due to a $3.1 million increase in cost of sales, a $2.8 million increase in G&A expense, a $2.1 million increase in R&D expense partially offset by a $4.5 million decrease in sales and marketing expense. Non-operating expense, net, totaled $8.1 million and net loss was $45.4 million, or $3.54 per share, compared to a net loss of $56.8 million, or $5.44 per share, for the prior year period.

    Cash and cash equivalents at December 31, 2020 totaled $44.9 million compared to $22.2 million at December 31, 2019.

    Financial Outlook

    We expect the cash on hand at December 31, 2020 together with the approximate $108 million of net proceeds from the February 2021 public stock offering and expected net cash inflows from our product sales will enable us to fund our current and planned operations through the second quarter of 2022.

    Conference Call Information

    EyePoint will host a conference call today, at 8:30 AM ET to discuss the results for the fourth quarter and full year ended December 31, 2020 and recent operational developments. To access the conference call, please dial (877)-303-5828 from the U.S. and Canada or (631)-813-4828 (international) at least 10 minutes prior to the start time and refer to conference ID 1261618. A live webcast will be available on the Investor Relations section of the corporate website at http://www.eyepointpharma.com. A replay of the webcast will also be available on the corporate website.

    About EYP-1901

    EYP-1901 is a potential twice-yearly sustained delivery intravitreal anti-VEGF treatment for wet age-related macular degeneration. EYP-1901 leverages a bioerodible formulation of EyePoint's proprietary Durasert® sustained release technology with vorolanib, a tyrosine kinase inhibitor. Vorolanib provided clear efficacy signals in two prior human trials in wet AMD as an orally delivered therapy with no significant ocular adverse events. EYP-1901 is currently in a Phase 1 clinical trial initially targeting treatment of wet AMD, with the potential for additional indications in diabetic retinopathy and retinal vein occlusion.

    About EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) is a pharmaceutical company committed to developing and commercializing innovative therapeutics to help improve the lives of patients with serious eye disorders. The Company's pipeline leverages its proprietary Durasert® technology for extended intraocular drug delivery including EYP-1901, a potential twice-yearly sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. The Company has two commercial products: YUTIQ®, for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU®, for the treatment of postoperative inflammation following ocular surgery. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts. To learn more about the Company, please visit www.eyepointpharma.com and connect on Twitter and LinkedIn.

    SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION ACT OF 1995: To the extent any statements made in this press release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding the anticipated use of proceeds for the proposed offering and other statements identified by words such as "will," "potential," "could," "can," "believe," "intends," "continue," "plans," "expects," "anticipates," "estimates," "may," other words of similar meaning or the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause EyePoint's actual results to be materially different than those expressed in or implied by EyePoint's forward-looking statements. For EyePoint, this includes the continued impact of the COVID-19 pandemic on EyePoint's business, the medical community and the global economy and the impact of general business and economic conditions, our expectations regarding the timing and clinical development of our product candidates, including EYP-1901; and the potential for EYP-1901 as a novel twice-yearly treatment for serious eye diseases, including wet age-related macular degeneration, diabetic retinopathy and retinal vein occlusion; the effectiveness and timeliness of clinical trials, and the usefulness of the data; the timeliness of regulatory approvals; our ability to achieve profitable operations and access to needed capital; fluctuations in our operating results; our ability to successfully produce sufficient commercial quantities of YUTIQ and DEXYCU and to successfully commercialize YUTIQ and DEXYCU in the U.S.; our ability to sustain and enhance an effective commercial infrastructure and enter into and maintain commercial agreements for YUTIQ and DEXYCU; the development of our YUTIQ line extension shorter-duration treatment for non-infectious uveitis affecting the posterior segment of the eye; the success of current and future license agreements, including our agreements with Ocumension Therapeutics and Equinox Science; termination or breach of current license agreements, including our agreements with Ocumension Therapeutics and Equinox Science; our dependence on contract research organizations, co-promotion partners, and other outside vendors and service providers; effects of competition and other developments affecting sales of products; market acceptance of products; effects of guidelines, recommendations and studies; protection of intellectual property and avoiding intellectual property infringement; retention of key personnel; product liability; industry consolidation; compliance with environmental laws; manufacturing risks; risks and costs of international business operations; volatility of stock price; possible dilution; absence of dividends; and other factors described in our filings with the Securities and Exchange Commission. We cannot guarantee that the results and other expectations expressed, anticipated or implied in any forward-looking statement will be realized. A variety of factors, including these risks, could cause our actual results and other expectations to differ materially from the anticipated results or other expectations expressed, anticipated or implied in our forward-looking statements. Should known or unknown risks materialize, or should underlying assumptions prove inaccurate, actual results could differ materially from past results and those anticipated, estimated or projected in the forward-looking statements. You should bear this in mind as you consider any forward-looking statements. Our forward-looking statements speak only as of the dates on which they are made. We do not undertake any obligation to publicly update or revise our forward-looking statements even if experience or future changes makes it clear that any projected results expressed or implied in such statements will not be realized.

    Investors:

    Christina Tartaglia

    SternIR

    Direct: 212-698-8700

    Media:

    Thomas Gibson

    201-476-0322



    EYEPOINT PHARMACEUTICALS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
    (Unaudited)
    (In thousands, except per share data)
             
             
      Three Months Ended December 31, Twelve Months Ended December 31,
       2020   2019   2020   2019 
    Revenues:        
    Product sales, net $6,680  $7,883  $20,831  $16,824 
    License and collaboration agreements (including license fees from a related party of $11,500 and $1,030 for the years ended December 31, 2020 and 2019, respectively and $0 during Q4 for both years)  352   236   11,942   1,361 
    Royalty income  99   514   1,664   2,180 
    Total revenues  7,131   8,633   34,437   20,365 
    Operating expenses:        
    Cost of sales, excluding amortization of acquired intangible assets  2,461   1,324   5,824   2,687 
    Research and development  5,205   4,131   17,424   15,368 
    Sales and marketing  5,810   7,399   25,293   29,772 
    General and administrative  5,777   4,149   20,726   17,939 
    Amortization of acquired intangible assets  615   615   2,460   2,460 
    Total operating expenses  19,868   17,618   71,727   68,226 
    Loss from operations  (12,737)  (8,985)  (37,290)  (47,861)
    Other income (expense):        
    Interest and other income, net     362   58   1,054 
    Interest expense  (1,827)  (1,787)  (7,257)  (6,176)
    Loss on extinguishment of debt  (905)     (905)  (3,810)
    Total other expense, net  (2,732)  (1,425)  (8,104)  (8,932)
    Net loss $(15,469) $(10,410) $(45,394) $(56,793)
             
    Net loss per common share - basic and diluted $(1.07) $(0.98) $(3.54) $(5.44)
             
    Weighted average common shares outstanding - basic and diluted  14,501   10,688   12,836   10,431 
             

     

    EYEPOINT PHARMACEUTICALS, INC. AND SUBSIDIARIES
    CONDENSED CONSOLIDATED BALANCE SHEETS
    (Unaudited)
    (In thousands)
         
      December 31, December 31,
       2020   2019 
    Assets    
    Current assets:    
    Cash and cash equivalents $44,909  $22,214 
    Accounts and other receivables, net (including due from a related party of $104 and $0 at December 31, 2020 and 2019, respectively)  9,453   11,368 
    Prepaid expenses and other current assets  3,419   5,997 
    Inventory  5,337   2,138 
    Total current assets  63,118   41,717 
    Property and equipment, net  630   357 
    Operating lease right-of-use assets  2,610   3,078 
    Intangible assets, net  25,209   27,669 
    Restricted cash  150   150 
    Total assets $91,717  $72,971 
    Liabilities and stockholders' equity    
    Current liabilities:    
    Accounts payable $4,811  $4,192 
    Accrued expenses  8,445   6,832 
    Deferred revenue  945   15 
    Other current liabilities  687   481 
    Total current liabilities  14,888   11,520 
    Long-term debt  37,977   47,223 
    Deferred revenue, less current portion  15,616    
    Operating lease liabilities - noncurrent  2,330   2,898 
    Other long-term liabilities  2,365   3,000 
    Total liabilities  73,176   64,641 
    Stockholders' equity:    
    Capital  528,380   472,776 
    Accumulated deficit  (510,680)  (465,286)
    Accumulated other comprehensive income  841   840 
    Total stockholders' equity  18,541   8,330 
    Total liabilities and stockholders' equity $91,717  $72,971 
         





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  2. WATERTOWN, Mass., Feb. 25, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced that management will present at two upcoming virtual conferences in March.

    Cowen Healthcare Conference
    Forum: Fireside Chat
    Date: Wednesday, March 3
    Time: 2:40-3:10 PM Eastern Time

    H.C. Wainwright Global Life Sciences Conference
    Forum: Formal Presentation
    Date: Tuesday, March 9
    Time: 7:00AM Eastern Time

    A live webcast and subsequent archived replay of the presentations may be accessed via the Investors section of the Company website at www.eyepointpharma.com. The replay will be available…

    WATERTOWN, Mass., Feb. 25, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced that management will present at two upcoming virtual conferences in March.

    Cowen Healthcare Conference

    Forum: Fireside Chat

    Date: Wednesday, March 3

    Time: 2:40-3:10 PM Eastern Time

    H.C. Wainwright Global Life Sciences Conference

    Forum: Formal Presentation

    Date: Tuesday, March 9

    Time: 7:00AM Eastern Time

    A live webcast and subsequent archived replay of the presentations may be accessed via the Investors section of the Company website at www.eyepointpharma.com. The replay will be available for 90 days after the event.

    About EyePoint Pharmaceuticals

    EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) is a pharmaceutical company committed to developing and commercializing innovative therapeutics to help improve the lives of patients with serious eye disorders. The Company's pipeline leverages its proprietary Durasert® technology for extended intraocular drug delivery including EYP-1901, a potential twice-yearly sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. The Company has two commercial products: YUTIQ®, for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU®, for the treatment of postoperative inflammation following ocular surgery. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts. To learn more about the Company, please visit www.eyepointpharma.com and connect on Twitter and LinkedIn.



    Investors:
    
    Christina Tartaglia
    Stern IR
    Direct: 212-698-8700
    
    
    Media Contact
    
    Tom Gibson
    GIBSON Communications, LLC
    Direct: (201) 476-0322
    

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  3. WATERTOWN, Mass., Feb. 25, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced it will host a conference call and live webcast at 8:30 a.m. ET on Thursday, March 4, 2021 to report its full year 2020 financial results and discuss recent business highlights.

    To access the live conference call, please dial (877)-312-7507 (domestic) or (631)-813-4828 (international) and reference conference ID 1261618. A live audio webcast of the event can be accessed via the Investors section of the Company website at www.eyepointpharma.com. A webcast replay will also be available…

    WATERTOWN, Mass., Feb. 25, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced it will host a conference call and live webcast at 8:30 a.m. ET on Thursday, March 4, 2021 to report its full year 2020 financial results and discuss recent business highlights.

    To access the live conference call, please dial (877)-312-7507 (domestic) or (631)-813-4828 (international) and reference conference ID 1261618. A live audio webcast of the event can be accessed via the Investors section of the Company website at www.eyepointpharma.com. A webcast replay will also be available on the corporate website at the conclusion of the call.

    About EyePoint Pharmaceuticals

    EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) is a pharmaceutical company committed to developing and commercializing innovative therapeutics to help improve the lives of patients with serious eye disorders. The Company's pipeline leverages its proprietary Durasert® technology for extended intraocular drug delivery including EYP-1901, a potential twice-yearly sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. The Company has two commercial products: YUTIQ®, for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU®, for the treatment of postoperative inflammation following ocular surgery. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts. To learn more about the Company, please visit www.eyepointpharma.com and connect on Twitter and LinkedIn.

    Investors:

    Christina Tartaglia

    Stern IR

    Direct: 212-698-8700

    Media Contact

    Tom Gibson

    GIBSON Communications, LLC

    Direct: (201) 476-0322



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  4. WATERTOWN, Mass., Feb. 04, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced the closing of an underwritten public offering of 10,465,000 shares of its common stock at a public offering price of $11.00 per share, including the exercise in full by the underwriters of their option to purchase up to 1,365,000 additional shares of common stock. The gross proceeds of the offering to the Company are approximately $115.1 million, before deducting the underwriting discounts and commissions and other estimated offering expenses.

    Cowen and Guggenheim Securities acted…

    WATERTOWN, Mass., Feb. 04, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced the closing of an underwritten public offering of 10,465,000 shares of its common stock at a public offering price of $11.00 per share, including the exercise in full by the underwriters of their option to purchase up to 1,365,000 additional shares of common stock. The gross proceeds of the offering to the Company are approximately $115.1 million, before deducting the underwriting discounts and commissions and other estimated offering expenses.

    Cowen and Guggenheim Securities acted as joint book-running managers for the offering.

    EyePoint intends to use the net proceeds from the offering for the advancement of EYP-1901 for wet AMD, for pipeline and commercial programs, and for general corporate purposes.

    The securities described above were offered by the Company pursuant to a shelf registration statement on Form S-3 (No. 333-252170) previously filed with the Securities and Exchange Commission (SEC) on January 15, 2021 and declared effective by the SEC on January 25, 2021.

    A preliminary prospectus supplement relating to the offering was filed with the SEC on February 1, 2021. A final prospectus supplement relating to and describing the terms of the offering was filed with the SEC and is available on the SEC's website at http://www.sec.gov. Copies of the final prospectus supplement and accompanying prospectus relating to the offering may be obtained from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by telephone at (833) 297-2926, or by email at or Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at (212) 518-5548, or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About EyePoint Pharmaceuticals, Inc.  

    EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) is a pharmaceutical company committed to developing and commercializing innovative therapeutics to help improve the lives of patients with serious eye disorders. The Company's pipeline leverages its proprietary bioerodible Durasert® technology for extended intraocular drug delivery including EYP-1901, a potential twice-yearly sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. The Company has two commercial products: YUTIQ®, for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU®, for the treatment of postoperative inflammation following ocular surgery. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts.

    SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION ACT OF 1995: To the extent any statements made in this press release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding the anticipated use of proceeds for the proposed offering and other statements identified by words such as "will," "potential," "could," "can," "believe," "intends," "continue," "plans," "expects," "anticipates," "estimates," "may," other words of similar meaning or the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause EyePoint's actual results to be materially different than those expressed in or implied by EyePoint's forward-looking statements. For EyePoint, this includes the continued impact of the COVID-19 pandemic on EyePoint's business, the medical community and the global economy and the impact of general business and economic conditions. More detailed information on these and additional factors that could affect EyePoint's actual results are described in EyePoint's filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as revised or supplemented by its Quarterly Reports on Form 10-Q and other documents filed with the SEC. All forward-looking statements in this news release speak only as of the date of this news release. EyePoint undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

    Investors:

    Lisa Sher

    SternIR

    Direct: 212-698-8700

    Media Contact

    Tom Gibson

    GIBSON Communications, LLC

    Direct: (201) 476-0322

     



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  5. WATERTOWN, Mass., Feb. 01, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced the pricing of an underwritten public offering of 9,100,000 shares of its common stock at a public offering price of $11.00 per share. The gross proceeds of the offering to the Company are expected to be $100.1 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, EyePoint granted the underwriters a thirty-day option to purchase up to an additional 1,365,000 shares of common stock at the public offering price, less underwriting…

    WATERTOWN, Mass., Feb. 01, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced the pricing of an underwritten public offering of 9,100,000 shares of its common stock at a public offering price of $11.00 per share. The gross proceeds of the offering to the Company are expected to be $100.1 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, EyePoint granted the underwriters a thirty-day option to purchase up to an additional 1,365,000 shares of common stock at the public offering price, less underwriting discounts and commissions.

    The closing of the offering is expected to occur on or about February 4, 2021, subject to the satisfaction of customary closing conditions.

    Cowen and Guggenheim Securities are acting as joint book-running managers for the offering.

    EyePoint intends to use the net proceeds from the offering for the advancement of EYP-1901 for wet AMD, for pipeline and commercial programs, and for general corporate purposes.

    The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (No. 333-252170) previously filed with the Securities and Exchange Commission (SEC) on January 15, 2021 and declared effective by the SEC on January 25, 2021.

    A preliminary prospectus supplement relating to the offering was filed with the SEC on February 1, 2021 and is available on the SEC's website at http://www.sec.gov. The final prospectus supplement relating to and describing the terms of the offering will be filed with the SEC and also will be available on the SEC's website. Before investing in the offering, you should read each of the prospectus supplement and the accompanying prospectus relating to the offering in their entirety as well as the other documents that the Company has filed with the SEC that are incorporated by reference in the prospectus supplement and the accompanying prospectus relating to the offering, which provide more information about the Company and the offering. Copies of the final prospectus supplement, when available, and accompanying prospectus relating to the offering may be obtained from Cowen and Company, LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Attn: Prospectus Department, by telephone at (833) 297-2926, or by email at or Guggenheim Securities, LLC Attention: Equity Syndicate Department, 330 Madison Avenue, New York, NY 10017 or by telephone at (212) 518-5548, or by email at .

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About EyePoint Pharmaceuticals, Inc.

    EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) is a pharmaceutical company committed to developing and commercializing innovative therapeutics to help improve the lives of patients with serious eye disorders. The Company's pipeline leverages its proprietary bioerodible Durasert® technology for extended intraocular drug delivery including EYP-1901, a potential twice-yearly sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. The Company has two commercial products: YUTIQ®, for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU®, for the treatment of postoperative inflammation following ocular surgery. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts.

    SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION ACT OF 1995: To the extent any statements made in this press release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding the closing of the proposed offering, as well as the anticipated use of proceeds for the proposed offering and other statements identified by words such as "will," "potential," "could," "can," "believe," "intends," "continue," "plans," "expects," "anticipates," "estimates," "may," other words of similar meaning or the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause EyePoint's actual results to be materially different than those expressed in or implied by EyePoint's forward-looking statements. For EyePoint, this includes satisfaction of the customary closing conditions to the offering, delays in obtaining required stock exchange or other regulatory approvals, stock price volatility, the continued impact of the COVID-19 pandemic on EyePoint's business, the medical community and the global economy, the impact of general business and economic conditions, the expected gross proceeds from the offering and the intended use of proceeds of the offering. More detailed information on these and additional factors that could affect EyePoint's actual results are described in EyePoint's filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2019, as revised or supplemented by its Quarterly Reports on Form 10-Q and other documents filed with the SEC. All forward-looking statements in this news release speak only as of the date of this news release. EyePoint undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.

    Investors:

    Lisa Sher

    SternIR

    Direct: 212-698-8700

     

    Media Contact

    Tom Gibson

    GIBSON Communications, LLC

    Direct: (201) 476-0322

     



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