EyePoint, Expands Pact With Betta Pharma For EYP-1901 In China, Posts Deeper Q1 Loss

  • EyePoint Pharmaceuticals Inc EYPT executed a license agreement with Betta Pharmaceuticals Co Ltd to develop and commercialize EYP-1901 in Mainland China, Hong Kong, Macau, and Taiwan. 
  • This agreement expands the collaboration between EyePoint and Equinox Sciences, LLC, a Betta Pharmaceuticals affiliate established in February 2020. 
  • EyePoint will retain global ophthalmic rights for EYP-1901 in the rest of the world. 
  • Concurrently, EyePoint and Equinox Sciences have executed an amendment to their February 2020 license agreement, expanding EyePoint's exclusive rights to develop and commercialize vorolanib, a tyrosine kinase inhibitor, through localized delivery for all ophthalmic diseases.
  • EyePoint reported Q1 sales of $9.3 million compared to $7.3 million a year ago, missing the consensus of $9.89 million.
  • The company reported an EPS loss of $(0.56), up from $(0.50) a year ago, beating the consensus of $(0.58).
  • EyePoint held cash and investments of $190.8 million, sufficient to fund operations into 2H of 2024.
  • Price Action: EYPT shares are down 5.30% at $11.25 during the market session on the last check Wednesday.
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