Business
EyePoint Pharmaceuticals Reports Third Quarter 2020 Financial Results and Highlights Recent Corporate Developments
- Total revenues of $15.7 million and net product revenues of $5.8 million - - Sequential quarterly increase in underlying customer demand of over 120% for
About this update from Eyepoint, Inc.
[{"type":"text","content":"- Total revenues of $15.7 million and net product revenues of $5.8 million -\n - Sequential quarterly increase in underlying customer demand of over 120% for DEXYCU® and over 5% for YUTIQ® - - EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment targeting wet age-related macular degeneration, remains on track for Q4 IND filing - - CRG debt facility amended, waiving and modifying net product revenue covenants for 2020 and 2021, respectively - - Cash as of October 31, 2020 at $30.5 Million - - Management to host a conference call and webcast today at 8:30 AM ET - WATERTOWN, Mass., Nov. 05, 2020 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products, today announced financial results for the third quarter ended September 30, 2020 and highlighted recent corporate developments. “With the continued increase in patient office visits and resumption of operations at many healthcare facilities during the quarter, we were encouraged to see customer demand for both YUTIQ® and DEXYCU® near pre-COVID-19 pandemic levels,” said Nancy Lurker, President and Chief Executive Officer of EyePoint Pharmaceuticals. “We enter the remaining months of 2020 with the EyePoint and ImprimisRx combined sales teams mobilized to promote DEXYCU to their established account base and our YUTIQ team continuing to call on uveitis and retinal physician offices, subject to evolving COVID-19-related restrictions.” Ms. Lurker continued, “With the recent completion of our good laboratory practice (GLP) toxicology study of EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment for wet age-related macular degeneration (wet AMD), we remain on track to submit an Investigational New Drug (IND) application before the end of the year. Upon acceptance of the IND by the U.S. Food and Drug Administration (FDA), we look forward to initiating a Phase 1 trial of EYP-1901 in wet AMD, a sight-threatening eye disease that is in significant need of longer-lasting treatment options that may slow its progression. In addition, we continue to diligently manage our cash and burn rate and ended October 31, 2020 with $30.5 million in cash.” Commercial Performance in Third Quarter 2020 Customer demand for YUTIQ, represented as ...