Eyenovia(US:EYEN)2025-05-19 21:30Financial Performance - Eyenovia reported a net loss of $3.5 million, or $1.59 per share, for Q1 2025, a significant improvement from a net loss of $10.9 million, or $18.75 per share, in Q1 2024[7]. - Total operating expenses for Q1 2025 were $3.0 million, representing a 70% decrease from $10.1 million in Q1 2024[8]. Expenses Management - Research and development expenses decreased by 85% to $0.7 million in Q1 2025, compared to $4.4 million in Q1 2024[7]. - General and administrative expenses were reduced by 35% to $2.4 million in Q1 2025, down from $3.6 million in Q1 2024[8]. - Eyenovia has reduced ongoing cash burn by approximately 70% compared to the previous year and has entered into a debt restructuring agreement deferring certain repayment obligations until October 2025[4][6]. Cash Position - As of March 31, 2025, Eyenovia's unrestricted cash and cash equivalents increased to $3.9 million from $2.1 million as of December 31, 2024[8]. - The total assets of Eyenovia as of March 31, 2025, were $5.98 million, compared to $3.67 million as of December 31, 2024[14]. Strategic Initiatives - The company is on track to file for U.S. regulatory approval for the Optejet user-filled device in September 2025, which could lead to multiple commercial opportunities[3][5]. - Eyenovia is negotiating a binding merger agreement with Betaliq, extending the exclusivity period until June 7, 2025, to finalize the agreement[2]. - The company aims to maximize shareholder value through the merger with Betaliq, which is expected to create a new eyecare company with immediate revenue from existing FDA-approved products[5].