EyePoint Pharmaceuticals(EYPT) - 2025 Q1 - Quarterly Report

Financial Performance - Total revenues for the three months ended March 31, 2025, increased by 109% to $24.45 million compared to$11.68 million in the same period of 2024[92]. - Royalty income surged by 2641% to $12.69 million for the three months ended March 31, 2025, compared to$463,000 in the prior year[92]. - The net loss for the three months ended March 31, 2025, was $45.20 million, a 54$29.28 million in the prior year[92]. - License and collaboration agreement revenue increased by 5% to $11.05 million for the three months ended March 31, 2025, due to higher recognition of deferred revenue related to YUTIQ®[94]. - Total cash outflows from operating activities for the three months ended March 31, 2025, were$53.1 million, primarily due to a net loss of $45.2 million[107]. - The company had a total accumulated deficit of$918.2 million as of March 31, 2025, reflecting a history of operating losses[101]. - Interest income from investments decreased by $0.4 million, or 10$3.6 million for the three months ended March 31, 2025, due to lower interest rates[100]. - General and administrative expenses decreased by $0.2 million, or 2$13.9 million for the three months ended March 31, 2025[99]. - Net cash provided by investing activities was $39.5 million for the three months ended March 31, 2025, compared to$20.8 million in the same period of 2024[107]. - The company expects to continue incurring substantial operating losses as it develops product candidates and seeks marketing approval[103]. - The company did not sell any shares of common stock under its ATM offering facility during the three months ended March 31, 2025[102]. Research and Development - Research and development expenses rose by 94% to $58.57 million for the three months ended March 31, 2025, compared to$30.14 million in the same period of 2024[92]. - Research and development expenses rose by $28.4 million, or 94$58.6 million for the three months ended March 31, 2025, driven mainly by increased clinical trial costs for DURAVYU™[97]. - DURAVYU™ is currently in global Phase 3 clinical trials (LUGANO and LUCIA) for wet age-related macular degeneration, with enrollment expected to complete in the second half of 2025[85]. - The Phase 2 VERONA clinical trial for DURAVYU™ in diabetic macular edema met both primary and secondary endpoints, showing significant improvements in vision[91]. - The company expects to report top-line data from the DURAVYU™ trials in the second half of 2026[85]. - The company is focused on finalizing the pivotal program for DURAVYU™ in diabetic macular edema with the US FDA in the second quarter of 2025[85]. Cash and Investments - The company had cash, cash equivalents, and investments totaling $318.2 million as of March 31, 2025, expected to fund operations into 2027[79]. - Cash, cash equivalents, and investments in marketable securities totaled$318.2 million as of March 31, 2025, expected to fund operations into 2027[103].