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EyePoint Pharmaceuticals Reports First Quarter 2019 Financial Results and Highlights
Recent Company Progress
- YUTIQ and DEXYCU commercially launched in 1Q2019 -
- YUTIQ recommended for specific J-code by Centers for Medicare & Medicaid Services -
- Debt refinancing and equity public offering generated net proceeds of approximately $30.0 million -
- Company optimistic that current cash balance and cash inflows from product sales to provide sufficient capital to fund operations through to positive cash flow in 2020 -
- Management to host a conference call and webcast today at 8:30 AM ET -
WATERTOWN, Mass., May 8, 2019 - EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a specialty biopharmaceutical company committed to developing and commercializing innovative ophthalmic products, today reported financial results for the first quarter ended March 31, 2019, and highlighted recent corporate developments.
The initial launches of our two commercial ocular products, DEXYCUTM and YUTIQTM, have generated a strong initial reception by treating physicians and patients, which we will look to leverage to drive sales growth in the coming quarters, said Nancy Lurker, President and Chief Executive Officer of EyePoint Pharmaceuticals. We are now a fully-integrated, commercial-stage specialty ophthalmology company and are very pleased with the early momentum we are seeing for our two new innovative ocular products, each of which have significant market potential. We are also optimistic that we are well-positioned financially to execute on our goals following the addition of a new credit facility in February with CRG and the recent equity offering that we completed in April to support our operations through to positive cash flow in 2020.
YUTIQ (fluocinolone acetonide intravitreal implant) 0.18 mg for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye was made commercially available on February 4, 2019. YUTIQ received a preliminary recommendation from the Centers for Medicare & Medicaid Services (CMS) for a specific J-code through the Healthcare Common Procedure Coding System (HCPCS).
The following information was filed by Eyepoint Pharmaceuticals, Inc. (EYPT) on Wednesday, May 8, 2019 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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