{"id":450392,"date":"2021-03-04T07:03:32","date_gmt":"2021-03-04T12:03:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=450392"},"modified":"2021-03-04T07:03:32","modified_gmt":"2021-03-04T12:03:32","slug":"eyepoint-pharmaceuticals-reports-fourth-quarter-and-full-year-2020-financial-results-and-highlights-recent-corporate-developments","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/eyepoint-pharmaceuticals-reports-fourth-quarter-and-full-year-2020-financial-results-and-highlights-recent-corporate-developments\/","title":{"rendered":"EyePoint Pharmaceuticals Reports Fourth Quarter and Full Year 2020 Financial Results and Highlights Recent Corporate Developments"},"content":{"rendered":"
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\n –<\/em>
\n $115.1 million<\/em>
\n follow-on financing completed in February 2021<\/em>
\n \n <\/p>\n

\n – First patient dosed in Phase 1 clinical trial with EYP-1901 in January 2021<\/em>\n <\/p>\n

\n –<\/em>\u00a0$16.5 million monetization of ILUVIEN Royalty with $15 million applied to reduction in debt obligations in December 2020 <\/em><\/p>\n

\n – $15.7 million equity investment by Asia partner Ocumension Therapeutics in December 2020<\/em>\n <\/p>\n

\n – Total revenues for Full Year 2020 of $34.4\u00a0million including net product revenues of $20.8\u00a0million<\/em>\n <\/p>\n

\n \u00a0– Management to host a conference call and webcast today at\u00a08:30 AM ET\u00a0<\/em>\n <\/p>\n

WATERTOWN, Mass., March 04, 2021 (GLOBE NEWSWIRE) — EyePoint Pharmaceuticals, Inc.\u00a0(NASDAQ: EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced financial results for the fourth quarter and year ended\u00a0December 31, 2020\u00a0and highlighted recent corporate developments.<\/p>\n

\u201cThis year was transformative for EyePoint, across all clinical, financial and commercial fronts, despite the impact of COVID-19 on our business. In December 2020, we filed the IND for EYP-1901, a potential twice-yearly sustained delivery intravitreal anti-VEGF treatment for wet age-related macular degeneration (wet AMD), and the first patient was dosed in January. We are excited about the potential for EYP-1901 to dramatically transform the treatment of wet AMD offering patients the opportunity for fewer treatments and improved results,\u201d said\u00a0Nancy Lurker, President and Chief Executive Officer of\u00a0EyePoint Pharmaceuticals. \u201cOn the commercial front, despite the challenges of COVID-19 with closures in the earlier part of the year, we were pleased to see a return of customer demand of our commercial products to near pre-COVID levels in the second half of 2020.\u201d<\/p>\n

Ms. Lurker\u00a0continued, \u201cIn addition to the advancement of EYP-1901, we have made tremendous progress to improve our balance sheet, including a recent upsized follow-on stock offering with $115.1 million of gross proceeds and a $16.5 million royalty monetization with $15 million applied to reduce outstanding debt obligations.\u201d<\/p>\n

\n Corporate Update<\/strong>\n <\/p>\n