EyePoint Q2 revenue falls 44%, net loss widens

Overview

• EyePoint Q2 revenue falls to $5.3 mln from $9.5 mln year-over-year

• Operating expenses rise to $67.6 mln due to DURAVYU trial costs

• Net loss widens to $59.4 mln from $30.8 mln in prior year

Outlook

• EyePoint expects cash reserves to fund operations into 2027

• Company anticipates topline Phase 3 data for DURAVYU in 2026

• EyePoint preparing for potential NDA filing with registration batches

• Company sees DURAVYU first-to-market among sustained release treatments

Result Drivers

• TRIAL COSTS - Increase in operating expenses attributed to DURAVYU Phase 3 trial costs for wet AMD

• REVENUE DECLINE - Revenue decrease due to lower recognition of deferred revenue from YUTIQ product rights license

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 14 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy"

• Wall Street's median 12-month price target for EyePoint Pharmaceuticals Inc is $27.50, about 60.4% above its August 5 closing price of $10.89

Press Release: ID:nGNX90vZR8