EYPT EyePoint Pharmaceuticals Inc.

9.89
-0.22  -2%
Previous Close 10.11
Open 10.11
52 Week Low 3.511
52 Week High 21
Market Cap $179,588,416
Shares 18,158,586
Float 13,868,520
Enterprise Value $208,115,304
Volume 139,088
Av. Daily Volume 239,791
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Drug Pipeline

Drug Stage Notes
EYP-1901
Wet age-related macular degeneration (AMD)
Phase 1
Phase 1
Phase 1 trial to commence 1Q 2021.
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. - IND filed in December 2020 for EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment targeting wet age-related macular degeneration -

    - Anticipated Phase 1 clinical trial initiation in Q1 2021 -

    - Q4 2020 net product revenues are estimated to be $6.2 - $6.6 million versus $7.9 million in 2019 and $20.3 - $20.7 million for the full year 2020 as compared to $16.8 million for the full year 2019 -

    - Sequential quarterly increases in customer demand of 30% and 10% for DEXYCU® and YUTIQ®, respectively -

    - Approximately $44M of cash and cash equivalents estimated on December 31, 2020 -

    WATERTOWN, Mass., Jan. 11, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical…

    - IND filed in December 2020 for EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment targeting wet age-related macular degeneration -

    - Anticipated Phase 1 clinical trial initiation in Q1 2021 -

    - Q4 2020 net product revenues are estimated to be $6.2 - $6.6 million versus $7.9 million in 2019 and $20.3 - $20.7 million for the full year 2020 as compared to $16.8 million for the full year 2019 -

    - Sequential quarterly increases in customer demand of 30% and 10% for DEXYCU® and YUTIQ®, respectively -

    - Approximately $44M of cash and cash equivalents estimated on December 31, 2020 -

    WATERTOWN, Mass., Jan. 11, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products provided a business update and preliminary fourth quarter and full-year 2020 net product revenues as the company concluded 2020 with the achievement of several positive milestones and is looking forward to an eventful and promising 2021.

    "EyePoint had a pivotal year in 2020 as we significantly improved our balance sheet, advanced our pipeline and navigated our commercial business through pandemic closures to be well-poised for a strong 2021," said Nancy Lurker, President and Chief Executive Officer. "We are particularly excited by the filing of an IND for EYP-1901 in December, as this program has the potential to be a safe and effective twice-yearly sustained treatment for wet AMD. This disease continues to devastate the eyesight of millions of patients, and although current approved treatments are effective, they require monthly or bi-monthly eye injections resulting in poor compliance and outcomes. The need for a less frequent treatment option is a significant opportunity for EYP-1901."

    Ms. Lurker continued, "Upon FDA clearance of the IND, we anticipate the Phase 1 trial for EYP-1901 to begin in the first quarter of 2021 and we expect to report topline results in the second half of this year. In parallel with this activity, our commercial programs YUTIQ and DEXYCU, demonstrated sequential growth in Q3 and Q4 of 2020, despite the ongoing impact of the COVID-19 pandemic on these franchises. Both YUTIQ and DEXYCU are well-positioned for 2021, assuming the frequency of ophthalmology office visits and the number of cataract surgeries performed in the U.S. do not significantly decrease in the coming months due to the pandemic."

    EYP-1901 leverages the Company's proprietary Durasert® drug delivery technology that is currently used in four FDA-approved products, including YUTIQ. EYP-1901 uses a bioerodible formulation of Durasert coupled with a clinically validated anti-VEGF molecule, vorolanib. Vorolanib has demonstrated efficacy and ocular safety through Phase 2 trials in wet AMD as an oral therapy. In addition to the current program to evaluate EYP-1901 as a potential treatment for wet AMD, EYP-1901 is also anticipated to be studied in additional retinal applications, including diabetic retinopathy and retinal vein occlusion.

    R&D Update:

    • In December 2020, the Company filed an IND application with the FDA for EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment for wet AMD, using its proprietary bioerodible Durasert delivery technology. A Phase 1 trial is anticipated to begin in the first quarter of 2021.
    • Positive results from a good laboratory practice (GLP) preclinical toxicology study of EYP-1901 indicated no unexpected safety observations and confirmed the rationale for the filing of an IND.

    Fourth Quarter Commercial Performance

    • Net product revenue for YUTIQ is estimated to be between $3.7 and $3.9 million and between $13.6 and $13.8 million for the fourth quarter and full-year ended December 31, 2020, respectively.
    • Net product revenue for DEXYCU is estimated to be between $2.5 and $2.7 million and between $6.7 and $6.9 million for the fourth quarter and full-year ended December 31, 2020, respectively.
    • Customer demand of approximately 6,200 units for DEXYCU and 500 units of YUTIQ for the fourth quarter ended December 31, 2020, increases of 30% and 10%, respectively over Q3 2020.
    • DEXYCU co-promotion partner, ImprimisRx®, began driving volume through their experienced cataract surgery field force, materially adding to Q4 customer demand.

    Financial Highlights

    • In December 2020, Ocumension Therapeutics (1477.HK), EyePoint's partner in Asia, made a $15.7 million equity investment in EyePoint. Under the terms of the investment, Ocumension purchased approximately 3.01 million shares of EyePoint's common stock at a five-day trailing volume weighted average price as of the close of trading on December 29, 2020 of approximately $5.22 per share.
    • In December 2020, the Company announced a royalty monetization agreement with SWK Holdings Corporation (SWK) for royalties payable to EyePoint under its license agreement with Alimera Sciences, Inc. (Alimera) for ILUVIEN®. EyePoint has received a one-time $16.5 million payment from SWK and, in return, SWK is entitled to receive future royalties payable to EyePoint under the Alimera license agreement. $15 million of net proceeds from the transaction were applied against existing long-term debt obligations with CRG Servicing LLC (CRG) and the remaining $1.5 million will be used to advance product pipeline programs. The transaction also resulted in a reduction of annual interest payments of approximately $1.7 million.
    • In December 2020, the Company announced a 1-for-10 reverse stock split and maintained compliance with the $1.00 minimum closing bid price required for continued listing on the Nasdaq Global Market.
    • The Company estimates that it had cash and cash equivalents of approximately $44 million on December 31, 2020.

    The preliminary fourth quarter and full-year 2020 revenue results and cash on hand included in this release were calculated prior to the completion of a review by the Company's independent registered public accounting firm and are therefore subject to adjustment.

    Financial Outlook

    Cash and cash equivalents are estimated to be approximately $44 million on December 31, 2020. Cash on hand, combined with cash inflows from anticipated product sales and continued cash conservation activities are expected to fund the Company's operating plan into the second half of 2021, assuming no significant increase in COVID-19-related closures that would considerably decrease the frequency of ophthalmology office visits or the number of cataract surgical procedures performed across the U.S.

    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 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. The Company's pipeline leverages its proprietary bioerodible Durasert® technology for extended intraocular drug delivery including EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. 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: Various statements made in this release are forward-looking, and are inherently subject to risks, uncertainties and potentially inaccurate assumptions. All statements that address activities, events or developments that we intend, expect, plan or believe may occur in the future, including but not limited to statements about our expectations regarding the timing and clinical development of our product candidates, including EYP-1901; the potential for EYP-1901 as a vital, novel six-month treatment for serious eye diseases, including wet age-related macular degeneration, diabetic retinopathy and retinal vein occlusion; and preliminary financial information as of December 31, 2020, are forward-looking statements. Some of the factors that could cause actual results to differ materially from the anticipated results or other expectations expressed, anticipated or implied in our forward-looking statements are risks and uncertainties inherent in our business including, without limitation: the extent to which COVID-19 impacts our business; 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; potential off-label sales in the U.S. by Alimera Sciences of ILUVIEN® for non-infectious uveitis affecting the posterior segment of the eye; consequences of fluocinolone acetonide side effects for YUTIQ; consequences of dexamethasone side effects for DEXYCU; our ability to market and sell products; 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, contract sales organizations, vendors and investigators; 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; the potential for our preliminary financial information to change in connection with the finalization of our financial results for the fourth quarter of 2020; 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:
    
    Lisa Sher
    SternIR
    Direct: 212-698-8700
    
    
    Media Contact
    
    Tom Gibson
    Tom Gibson Communications
    Direct: (201) 476-0322
    

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  2. WATERTOWN, Mass., Jan. 03, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products, today announced that Ocumension Therapeutics, a China-based ophthalmic pharmaceutical company traded on the Stock Exchange of Hong Kong (1477.HK), has made a $15.7 million equity investment in EyePoint. Under the terms of the agreement, Ocumension has purchased approximately 3.01 million shares of EyePoint's common stock at a five-day trailing volume weighted average price as of the close of trading on December 29, 2020 of approximately $5.22 per share.

    "This investment underscores our continued strong partnership with Ocumension for YUTIQ and…

    WATERTOWN, Mass., Jan. 03, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products, today announced that Ocumension Therapeutics, a China-based ophthalmic pharmaceutical company traded on the Stock Exchange of Hong Kong (1477.HK), has made a $15.7 million equity investment in EyePoint. Under the terms of the agreement, Ocumension has purchased approximately 3.01 million shares of EyePoint's common stock at a five-day trailing volume weighted average price as of the close of trading on December 29, 2020 of approximately $5.22 per share.

    "This investment underscores our continued strong partnership with Ocumension for YUTIQ and DEXYCU in Asia," said Nancy Lurker, President and Chief Executive Officer of EyePoint Pharmaceuticals. "We are excited about the significant potential of these products in both the U.S. and in Asia and for our R&D pipeline, including the Phase 1 trial of EYP-1901 in wet age-related macular degeneration that is expected to commence in the coming months."

    "We are delighted to support our partnership with EyePoint through this investment, as we prepare for the development and commercialization of YUTIQ and DEXYCU, under Ocumension branded labels, across Asian markets," said Ye Liu, Chief Executive Officer of Ocumension. "We share EyePoint's commitment to rapidly advancing new treatments for ocular disease in attractive markets and look forward to commercial launches in China in the coming year."

    In conjunction with the investment, Ye Liu, Chief Executive Officer of Ocumension has been appointed to the EyePoint Board of Directors, replacing Kristine Peterson who has stepped down from the board effective December 31, 2020.

    Cash and cash equivalents are estimated to be approximately $44 million on December 31, 2020, including the net proceeds from the Ocumension equity investment. The cash and cash equivalents estimate as of December 31, 2020 was calculated prior to the completion of a review by the Company's independent registered accounting firm and is therefore subject to adjustment. Cash on hand, combined with cash inflows from anticipated product sales and continued cash conservation activities are expected to fund the Company's operating plan into the second half of 2021, assuming no significant increase in COVID-19-related closures that would considerably decrease the frequency of ophthalmology office visits or the number of cataract surgical procedures performed across the U.S.

    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 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. The Company's pipeline leverages its proprietary bioerodible Durasert® technology for extended intraocular drug delivery including EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts. To learn more about the Company, please visit www.eyepointpharma.com and connect on Twitter and LinkedIn.

    About Ocumension Therapeutics

    Ocumension Therapeutics is a China-based ophthalmic pharmaceutical platform company dedicated to identifying, developing and commercializing first- or best-in-class ophthalmic therapies. The company's vision is to provide a world-class pharmaceutical total solution to address significant unmet ophthalmic medical needs in China. Since the inception, Ocumension Therapeutics has focused on building a platform integrating specialized capabilities in each major functionality involved in an ophthalmic drug's development cycle, from research and development, manufacturing to commercialization. Ocumension Therapeutics believes its platform positions it well to achieve leadership in China ophthalmology, with a first-mover advantage over future competitors.

    SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION ACT OF 1995: Various statements made in this release are forward-looking, and are inherently subject to risks, uncertainties and potentially inaccurate assumptions. All statements that address activities, events or developments that we intend, expect, plan or believe may occur in the future, including but not limited to statements about our expectations regarding the timing and clinical development of our product candidates, including EYP-1901; the potential for EYP-1901 as a vital, novel six-month treatment for wet age-related macular degeneration; and preliminary financial information as of December 31, 2020. Some of the factors that could cause actual results to differ materially from the anticipated results or other expectations expressed, anticipated or implied in our forward-looking statements are risks and uncertainties inherent in our business including, without limitation: the extent to which COVID-19 impacts our business; 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; potential off-label sales in the U.S. by Alimera Sciences of ILUVIEN® for non-infectious uveitis affecting the posterior segment of the eye; consequences of fluocinolone acetonide side effects for YUTIQ; consequences of dexamethasone side effects for DEXYCU; our ability to market and sell products; 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, contract sales organizations, vendors and investigators; 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; the potential for our preliminary financial information to change in connection with the finalization of our financial results for the fourth quarter of 2020; 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.

    EyePoint Contacts:

    Investors:

    Stern IR

    Lisa Sher

    (212) 698-8700

    Media:

    Thomas Gibson

    201-476-0322

      

    Ocumension Contact:

    Qinglei Zuo

    +86-21-68362137-7796



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  3. WATERTOWN, Mass., Dec. 18, 2020 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing innovative therapeutics to help improve the lives of patients with serious eye disorders, today announced a royalty monetization agreement with SWK Holdings Corporation (SWK) for royalties payable to EyePoint under its license agreement with Alimera Sciences, Inc. (Alimera) for ILUVIEN®. EyePoint has received a one-time $16.5 million payment from SWK and, in return, SWK is entitled to receive future royalties payable to EyePoint from the Alimera agreement.

    EyePoint has applied $15 million of net proceeds from the transaction against existing long-term debt obligations with CRG…

    WATERTOWN, Mass., Dec. 18, 2020 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing innovative therapeutics to help improve the lives of patients with serious eye disorders, today announced a royalty monetization agreement with SWK Holdings Corporation (SWK) for royalties payable to EyePoint under its license agreement with Alimera Sciences, Inc. (Alimera) for ILUVIEN®. EyePoint has received a one-time $16.5 million payment from SWK and, in return, SWK is entitled to receive future royalties payable to EyePoint from the Alimera agreement.

    EyePoint has applied $15 million of net proceeds from the transaction against existing long-term debt obligations with CRG Servicing LLC (CRG). The remaining $1.5 million will be used to advance product pipeline programs. The transaction will also result in a reduction of annual interest payments of approximately $1.7 million.

    "This transaction with SWK allows EyePoint to reduce existing debt and interest obligations and improve our balance sheet as we focus on advancing our ocular disease pipeline, including EYP-1901 for wet age-related macular degeneration," said George Elston, Chief Financial Officer and Head of Corporate Development of EyePoint Pharmaceuticals. "We remain focused on managing our burn rate and preserving cash to reach important clinical and commercial milestones in 2021 and this transaction will help to achieve these goals."

    "We are pleased to be part of EyePoint's corporate strategy with this non-dilutive capital as the Company continues to develop long lasting, sustained and stable therapies using its Durasert® technology to help improve the lives of patients," said Winston Black, CEO of SWK Holdings Corporation.  "The technologies EyePoint has developed are emblematic of the life science innovations in which SWK seeks to invest. Benefitting from Durasert's continuous microdosing technology, products such as ILUVIEN and YUTIQ® are important treatment options for patients with diabetic macular edema and posterior segment uveitis."

    About SWK Holdings:

    SWK Holdings Corporation is a specialized finance company with a focus on the global healthcare sector. SWK partners with ethical product marketers and royalty holders to provide flexible financing solutions at an attractive cost of capital to create long-term value for both SWK's business partners and its investors. SWK believes its financing structures achieve an optimal partnership for companies, institutions and inventors seeking capital for expansion or capital and estate planning by allowing its partners to monetize future cash flow with minimal dilution to their equity stakes. SWK also owns Enteris Biopharma, whose core Peptelligence™ drug delivery technology creates oral formulations of peptide-based and BCS class II, III, and IV small molecules. With Enteris, SWK has the opportunity to grow its specialty finance business by actively building a wholly-owned portfolio of milestones and royalties through licensing activities. Additional information on the life science finance market is available on the Company's website at www.swkhold.com.

    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 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. The Company's pipeline leverages its proprietary bioerodible Durasert® technology for extended intraocular drug delivery including EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. 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: Various statements made in this release are forward-looking, and are inherently subject to risks, uncertainties and potentially inaccurate assumptions. All statements that address activities, events or developments that we intend, expect, plan or believe may occur in the future, including but not limited to statements about our expectations regarding the extent to which our business could be adversely impacted by the effects of the COVID-19 coronavirus pandemic, as well as the timing and clinical development of our product candidates, including EYP-1901; and the potential for EYP-1901 as a vital, novel six-month treatment for wet age-related macular degeneration. Some of the factors that could cause actual results to differ materially from the anticipated results or other expectations expressed, anticipated or implied in our forward-looking statements are risks and uncertainties inherent in our business including, without limitation: the extent to which COVID-19 impacts our business; 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; potential off-label sales of ILUVIEN for non-infectious uveitis affecting the posterior segment of the eye; consequences of fluocinolone acetonide side effects for YUTIQ; consequences of dexamethasone side effects for DEXYCU; successful commercialization of, and receipt of revenues from, ILUVIEN for diabetic macular edema, or DME; Alimera's ability to obtain additional marketing approvals and the effect of pricing and reimbursement decisions on sales of ILUVIEN for DME; Alimera's ability to commercialize ILUVIEN for non-infectious uveitis affecting the posterior segment of the eye in the territories in which Alimera is licensed to do so; our ability to market and sell products; the success of current and future license agreements, including our agreement with Equinox Science; termination or breach of current license agreements, including our agreement with Equinox Science; our dependence on contract research organizations, contract sales organizations, vendors and investigators; 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.

    Contacts

    Investors:

    Argot Partners

    Sam Martin or Joe Rayne

    212-600-1902

    Media:

    Thomas Gibson

    201-476-0322

      



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  4. WATERTOWN, Mass., Dec. 08, 2020 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products, today announced that it will effect a 1-for-10 reverse stock split at 5:00 p.m. Eastern Time today. Beginning with the opening of trading on December 9, 2020, EyePoint's common stock will trade on the Nasdaq Global Market on a split-adjusted basis under a new CUSIP number 30233G209.

    The reverse stock split is intended to enable EyePoint to regain compliance with the $1.00 minimum closing bid price required for continued listing on the Nasdaq Global Market.

    At EyePoint's special meeting of stockholders on December 1, 2020, EyePoint's stockholders…

    WATERTOWN, Mass., Dec. 08, 2020 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products, today announced that it will effect a 1-for-10 reverse stock split at 5:00 p.m. Eastern Time today. Beginning with the opening of trading on December 9, 2020, EyePoint's common stock will trade on the Nasdaq Global Market on a split-adjusted basis under a new CUSIP number 30233G209.

    The reverse stock split is intended to enable EyePoint to regain compliance with the $1.00 minimum closing bid price required for continued listing on the Nasdaq Global Market.

    At EyePoint's special meeting of stockholders on December 1, 2020, EyePoint's stockholders approved the proposal to authorize EyePoint's Board of Directors to file an amendment to EyePoint's certificate of incorporation to effect the reverse split at a ratio to be determined by the Board, ranging from 1-for-10 to 1-for-25. The specific 1-for-10 ratio was subsequently approved by EyePoint's Board of Directors and the reverse stock split was effected by filing a Certificate of Amendment to EyePoint's certificate of incorporation with the Secretary of State of the State of Delaware.

    The reverse split will affect all issued and outstanding shares of EyePoint's common stock. At the effective time of the reverse stock split the number of shares of common stock issued and outstanding will be reduced from approximately 151.3 million shares to approximately 15.13 million shares. All outstanding options, warrants, restricted stock units and deferred stock units entitling their holders to receive or purchase shares of EyePoint's common stock will be adjusted as a result of the reverse split, as required by the terms of each security. The number of shares reserved for future issuance pursuant to EyePoint's 2016 Long-Term Incentive Plan and the number of shares reserved for future issuance pursuant to EyePoint's 2019 Employee Stock Purchase Plan will also be appropriately adjusted. The reverse stock split will affect all stockholders uniformly and will not affect any stockholder's ownership percentage of EyePoint's shares (except to the extent that the reverse stock split would result in some of the stockholders receiving cash in lieu of fractional shares). Stockholders will receive cash in lieu of fractional shares based on today's closing sales price of EyePoint's common stock as quoted on the Nasdaq Global Market. The reverse stock split will not reduce the number of authorized shares of common stock, or preferred stock, or change the par values of EyePoint common stock (which will remain at $0.001 per share) or preferred stock (which will remain at $0.001 per share).

    Computershare Trust Company, N.A. (Computershare) is acting as the exchange agent and transfer agent for the reverse stock split. Computershare will provide instructions to stockholders with physical certificates regarding the process for exchanging their pre-split stock certificates for post-split shares in book-entry form and receiving payment for any fractional shares.

    About EyePoint Pharmaceuticals

    EyePoint Pharmaceuticals, Inc. (www.eyepointpharma.com) is a pharmaceutical company committed to developing and commercializing innovative ophthalmic products in indications with high unmet medical need to help improve the lives of patients with serious eye disorders. The Company currently has two commercial products: DEXYCU®, the first approved intraocular product for the treatment of postoperative inflammation, and YUTIQ®, a three-year treatment of chronic non-infectious uveitis affecting the posterior segment of the eye. The Company's pipeline leverages its proprietary bioerodible Durasert® technology for extended intraocular drug delivery including EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts with offices in Basking Ridge, New Jersey. 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: Various statements made in this release are forward-looking, and are inherently subject to risks, uncertainties and potentially inaccurate assumptions. All statements that address activities, events or developments that we intend, expect, plan or believe may occur in the future are described in our filings with the Securities and Exchange Commission. Examples of forward-looking statements contained in this press release include, among others, statements regarding the timing and effectiveness of the reverse stock split. 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.

    Contacts

    Investors:

    Argot Partners

    Sam Martin or Joe Rayne

    212-600-1902

    Media:

    Thomas Gibson

    201-476-0322

      



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  5. - No unexpected safety findings during the course of the study -

    - On track to file an IND by end of year; Phase 1 clinical trial to commence in early 2021 -

    WATERTOWN, Mass., Dec. 03, 2020 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products, today announced positive results from its good laboratory practice (GLP) preclinical toxicology study of EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment using its proprietary bioerodible Durasert® technology for wet age-related macular degeneration (wet AMD).

    Results from the study showed no EYPT-1901-related adverse ocular or systemic toxicology findings…

    - No unexpected safety findings during the course of the study -

    - On track to file an IND by end of year; Phase 1 clinical trial to commence in early 2021 -

    WATERTOWN, Mass., Dec. 03, 2020 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products, today announced positive results from its good laboratory practice (GLP) preclinical toxicology study of EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment using its proprietary bioerodible Durasert® technology for wet age-related macular degeneration (wet AMD).

    Results from the study showed no EYPT-1901-related adverse ocular or systemic toxicology findings at any dose level studied in the rabbit model. There were no changes in key ocular measurements such as intraocular pressure (IOP) and no changes in liver function enzymes as is often seen with systemic delivery of tyrosine kinase inhibitors. These results provide additional rationale for the advancement of EYP-1901 into clinical development.

    "We continue to believe in the potential of EYP-1901 to be a disruptive and beneficial treatment option for patients and physicians for the long-term treatment of wet AMD. These promising safety results reinforce the potential product profile of EYP-1901 and will be included in our Investigational New Drug (IND) submission that is expected to be filed before the end of the year," said Jay Duker, M.D., Chief Strategic Scientific Officer of EyePoint Pharmaceuticals. "Upon IND allowance by the U.S. Food and Drug Administration (FDA), we plan to rapidly initiate our Phase 1 clinical trial of EYP-1901 and dose our first patient in early 2021."

    About EYP-1901

    EYP-1901 is a potential six-month sustained delivery intravitreal anti-VEGF treatment for wet age-related macular degeneration. EYP-1901 combines EyePoint's proprietary bioerodable Durasert® sustained release technology with vorolanib, a tyrosine kinase inhibitor. Vorolanib has established efficacy signals observed in two prior human trials in wet AMD as an orally delivered therapy with no significant ocular adverse events reported. Preclinical studies of EYP-1901 administered locally into the eye have shown promising anti-VEGF activity with no serious safety issues observed. EyePoint plans to submit an Investigational New Drug (IND) application with the U.S. Food and Drug Administration (FDA) by the end of 2020 and expects to initiate a Phase 1 trial in early 2021. EYP-1901 is initially being developed as a treatment for wet AMD, with the potential for future indications in diabetic retinopathy and retinal vein occlusion.

    About EyePoint Pharmaceuticals

    EyePoint Pharmaceuticals, Inc. (www.eyepointpharma.com) is a pharmaceutical company committed to developing and commercializing innovative ophthalmic products in indications with high unmet medical need to help improve the lives of patients with serious eye disorders. The Company currently has two commercial products: DEXYCU®, the first approved intraocular product for the treatment of postoperative inflammation, and YUTIQ®, a three-year treatment of chronic non-infectious uveitis affecting the posterior segment of the eye. The Company's pipeline leverages its proprietary bioerodible Durasert® technology for extended intraocular drug delivery including EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts with offices in Basking Ridge, New Jersey. 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: Various statements made in this release are forward-looking, and are inherently subject to risks, uncertainties and potentially inaccurate assumptions. All statements that address activities, events or developments that we intend, expect, plan or believe may occur in the future, including but not limited to statements about our expectations regarding the extent to which our business could be adversely impacted by the effects of the COVID-19 coronavirus pandemic, as well as the timing and clinical development of our product candidates, including EYP-1901; and the potential for EYP-1901 as a vital, novel six-month treatment for wet age-related macular degeneration. Some of the factors that could cause actual results to differ materially from the anticipated results or other expectations expressed, anticipated or implied in our forward-looking statements are risks and uncertainties inherent in our business including, without limitation: the extent to which COVID-19 impacts our business; 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; potential off-label sales of ILUVIEN for non-infectious uveitis affecting the posterior segment of the eye; consequences of fluocinolone acetonide side effects for YUTIQ; consequences of dexamethasone side effects for DEXYCU; successful commercialization of, and receipt of revenues from, ILUVIEN for diabetic macular edema, or DME; Alimera's ability to obtain additional marketing approvals and the effect of pricing and reimbursement decisions on sales of ILUVIEN for DME; Alimera's ability to commercialize ILUVIEN for non-infectious uveitis affecting the posterior segment of the eye in the territories in which Alimera is licensed to do so; our ability to market and sell products; the success of current and future license agreements, including our agreement with Equinox Science; termination or breach of current license agreements, including our agreement with Equinox Science; our dependence on contract research organizations, contract sales organizations, vendors and investigators; 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.

    Contacts

    Investors:

    Argot Partners

    Sam Martin or Joe Rayne

    212-600-1902

    Media:

    Thomas Gibson

    201-476-0322

      



    Primary Logo

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