Eyenovia falls after plans to merge with private firm Betaliq

Shares of eye-disease focused Eyenovia EYEN.O fall 2.4% to $1.63 premarket

Co says it is exploring a reverse merger with privately held Betaliq to combine their eye-disease focused operations

The proposed deal values Betaliq at around $77 million and Eyenovia at about $15 million

EYEN will hold 16.3% of the combined company and Betaliq will hold the remaining stake, if merger is successful

Both EYEN's Optejet device and Betaliq's EyeSol technology are used to deliver FDA-approved eye-care medications to patients

Up to last close, EYEN fell ~2x in the past 12 months