Business
EyePoint Pharmaceuticals Announces Preliminary Net Product Revenue for Third Quarter 2020
- Q3 2020 net product revenues are estimated to be between $5.5 - $5.9 million, as healthcare facilities began reopening from COVID-19 closures - - Sequential
About this update from Eyepoint, Inc.
[{"type":"text","content":"- Q3 2020 net product revenues are estimated to be between $5.5 - $5.9 million, as healthcare facilities began reopening from COVID-19 closures -\n - Sequential increase in underlying customer demand for both YUTIQ and DEXYCU from Q2 2020 WATERTOWN, Mass., Oct. 07, 2020 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products, today reported preliminary, unaudited, net product revenue estimates for the third quarter 2020. For the third quarter ended September 30, 2020, net product revenues are estimated to be between $5.5 and $5.9 million, compared to net product revenues of $3.7 million reported for the second quarter ended June 30, 2020. This increase was driven by a sequential increase in customer demand for both YUTIQ® and DEXYCU® during the quarter as regions of the United States began reopening following COVID-19-related closures. “We were pleased to see the continued return of customer demand for both YUTIQ and DEXYCU during the third quarter of 2020, as more healthcare facilities re-opened for business and resumed patient treatment,” said Nancy Lurker, President and Chief Executive Officer of EyePoint Pharmaceuticals. “Customer demand trends for the third quarter exceeded the second quarter and are approaching pre-COVID-19 pandemic levels, highlighting a promising recovery. We believe our products offer physicians distinct advantages including single-injection, long-lasting activity, fewer office visits and less contact with patients’ eyes and face. We hope to continue this momentum in the fourth quarter through our recent U.S. commercial alliance with ImprimisRx for DEXYCU and increased in-office physician education for YUTIQ.” Estimated net product revenue for the third quarter ended September 30, 2020, consists of $3.4-$3.5 million for YUTIQ and $2.1-$2.4 million for DEXYCU. Customer demand for YUTIQ, represented as units purchased by physicians from the Company’s distributors, was approximately 450 units in Q3 2020 as compared to 428 units in Q2 2020. Customer demand for DEXYCU, represented as units purchased by ambulatory surgery centers from the Company’s distributors, was approximately 4,700 units in Q3 2020 as compared to 2,096 units in Q2 2020. The preliminary third quarter net product revenue results in...