Eyenovia Raises 15M Via Equity To Advance MydCombi Program

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Eyenovia Inc EYEN has entered into a Securities Purchase Agreement with Armistice Capital Master Fund Ltd for gross proceeds of $15 million.

  • The offering includes 3 million shares, pre-funded warrants to purchase up to 1.87 million shares, and common warrants to purchase up to 4.87 million shares.
  • The aggregate offering price for each share of common stock or pre-funded warrant and, in each case, the accompanying common warrant is $3.08.
  • The pre-funded warrants will have an exercise price of $0.01/share, and the common warrants will have an exercise price of $3.54 per share.
  • The offering is expected to close by March 7.
  • Eyenovia will use the proceeds to advance its MydCombi program, including the ramp-up of its manufacturing capabilities and the continued advancement of the MicroLine clinical program.
  • Last month, Eyenovia completed a Type A meeting with the FDA about refiling the MydCombi application.
  • In October 2021, FDA issued a complete response letter, reclassifying MydCombi for in-office pupil dilation as a drug-device combination product.
  • The FDA had asked the Company to conduct additional device testing for the Optejet dispenser.
  • Price Action: EYEN shares closed 2.27% lower at $3.01 during after-hours trading on Thursday.
Posted In: BiotechNewsPenny StocksHealth CareFinancingOfferingsGeneralBriefs

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