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EyePoint Pharmaceuticals Reports Fiscal Third Quarter 2018 Results
Completed Substantive Strategic Initiatives to Accelerate Transformation to a Commercial Company
Conference Call and Webcast Today, May 8th, at 4:30 p.m. ET
WATERTOWN, Mass., May 8, 2018 EyePoint Pharmaceuticals (NASDAQ: EYPT), a specialty biopharmaceutical company committed to developing and commercializing innovative ophthalmic products, today reported operating and financial results for its fiscal 2018 third quarter and nine months ended March 31, 2018 and provided a company update.
The acquisition of Icon Bioscience, Inc. and its FDA approved product, DEXYCU, significantly increases EyePoint Pharmaceuticals revenue potential and accelerates our planned transformation to a sustainable growth company, said Nancy Lurker, President and Chief Executive Officer. The combination of experienced executives leading our commercial team and the additional capital from EW Healthcare and SWK positions EyePoint to successfully execute on the launch of two new products in the first half of 2019, pending favorable regulatory review of YUTIQ. In addition, we anticipate the annual revenue potential for DEXYCU to be $150 - $200 million by the end of the third year on the market.
Key Recent Accomplishments
|||Acquired privately-held Icon Bioscience, Inc. and its FDA approved product, DEXYCU.|
|||DEXYCU was approved by the FDA on February 9, 2018, for the treatment of postoperative inflammation and is administered as a single intraocular injection at the end of surgery.|
|||EyePoint has expanded the DEXYCU global IP portfolio with Notices of Allowance for two additional patents, including potential claims relating to a method of treating inflammation of an eye following cataract surgery by delivering extremely small (4-6µL) amounts of dexamethasone in acetyl triethyl citrate. These two additional patents, once allowed, will extend to 2032 and 2034.|
|||A New Drug Application (NDA) for YUTIQ (fluocinolone acetonide intravitreal implant) 0.18 mg three-year treatment for noninfectious posterior segment uveitis was submitted to the Food and Drug Administration (FDA) in January and was accepted for filing in March with a November 5, 2018 PDUFA date.|
|||EyePoint has enhanced the healthcare and capital markets expertise of the Board of Directors with the appointment of Ron Eastman, a Managing Director at EW Healthcare Partners with over 40 years of experience in building healthcare companies.|
|||EyePoint has hired experienced executives to lead the Companys commercial team and to ensure successful execution of the launches of DEXYCU and YUTIQ|
The following information was filed by Eyepoint Pharmaceuticals, Inc. (EYPT) on Tuesday, May 8, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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