Exhibit 99.1

 

EyePoint Pharmaceuticals Reports Third Quarter 2019 Financial Results and Highlights Recent Corporate Progress

 

– U.S. commercial launch trajectory for DEXYCU® and YUTIQ® gains momentum with strong customer order growth over Q2 -

 

DEXYCU customer orders increased 207% over Q2 with repeat customers representing 74% of order volume -

 

YUTIQ customer orders up 17% over Q2 with repeat customers representing 85% of order volume and   prior to effective date of permanent J-Code -

 

- Announced access to large integrated payor networks including U.S. Department of Veterans Affairs Federal Supply Schedule and Vizient Inc. Network -

 

- Management to host a conference call and webcast today at 8:30 AM ET –

WATERTOWN, Mass., November 07, 2019 -- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a specialty biopharmaceutical company committed to developing and commercializing innovative ophthalmic products, today reported financial results for the third quarter ended September 30, 2019 and highlighted recent corporate developments.

“We are pleased with the strong growth in customer orders during the quarter as our sales team is making significant progress in penetrating targeted accounts for both DEXYCU® and YUTIQ®,” said Nancy Lurker, President and Chief Executive Officer of EyePoint Pharmaceuticals. “At the customer level, DEXYCU is gaining momentum at high volume ambulatory surgery centers with increasing repeat orders by physicians who favor its targeted, efficient ocular administration, and its positive efficacy and safety profile. We also saw continued strong growth of 17% in physician demand for YUTIQ quarter over quarter despite a cumbersome reimbursement process under a miscellaneous J-Code. We expect that the issuance of a permanent and specific J-Code for YUTIQ, which went into effect on October 1, 2019, will enable customers to experience a faster and more straightforward reimbursement process and will support continued growth in demand for this important product. These positive customer and reimbursement trends were masked by our distributor’s strategic decision to substantially reduce carried inventory, limiting their restocking during the quarter and resulting in decreased reported revenue from the prior quarter.”

 

Commercial Performance in Third Quarter 2019

DEXYCU (dexamethasone intraocular suspension) 9% for the treatment of post-operative inflammation following ocular surgery

 

Customer orders up 207% over Q2 with September representing the highest volume month to date, and with repeat customers representing 74% of Q3 order volume.

 

The average time for an account to re-order dropped from 4.8 weeks during Q2 to 2.5 weeks during Q3, as customers incorporate DEXYCU as part of their surgical protocol.

 

 


The following information was filed by Eyepoint Pharmaceuticals, Inc. (EYPT) on Thursday, November 7, 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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