Business
EyePoint Pharmaceuticals Provides COVID-19 Pandemic Business Operations Update
- Proactive Efforts to Mitigate Spread and Protect Safety and Well-being of Patients, Treating Physicians, Employees and Our Communities - - Reorganization of
About this update from Eyepoint, Inc.
[{"type":"text","content":"- Proactive Efforts to Mitigate Spread and Protect Safety and Well-being of Patients, Treating Physicians, Employees and Our Communities -\n - Reorganization of Commercial Operations to Align with Focused Approach - WATERTOWN, Mass., April 01, 2020 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products, today announced that the Company has taken proactive measures in response to changing market conditions caused by the novel coronavirus (COVID-19) global pandemic. These measures are intended to ensure the safety of its patients and employees and maintain the sustainability of its business operations and operating capital as this unprecedented situation continues to evolve. These measures also include a reorganization of its commercial operations and the cancellation or deferral of planned spending to conserve cash in response to a significant decline in product demand associated with shut-downs of customer facilities and postponements of elective surgical procedures in response to COVID-19. “COVID-19 driven closures have significantly impacted our customer base and this commercial reorganization is necessary to focus the Company's resources on continuing to serve patients who are still being treated with YUTIQ® and DEXYCU®. We have prioritized our overall spending to focus on a more targeted commercial footprint, conserve cash and to continue advancing EYP-1901, a six-month potential treatment for wet age-related macular degeneration, toward clinical development,” said Nancy Lurker, President and Chief Executive Officer of EyePoint Pharmaceuticals. “Our patients, employees, shareholders and the ocular disease community remain our top priorities as we navigate through the COVID-19 pandemic. We want to recognize and thank those affected by this reorganization for their dedication to EyePoint and our patients, and we will work to make their transitions to other opportunities as smooth as possible.” Dedicated to Delivering Our Innovative Ocular Disease Treatments to PatientsEyePoint is committed to providing uninterrupted access to our products during the COVID-19 pandemic for those patients who are in essential need of treatment. Our supply chains for YUTIQ and DEXYCU are robust and have not been interrupted during the pa...