Workflow
EyePoint Reports First Quarter 2025 Financial Results and Highlights Recent Corporate Developments
EYPTEyePoint Pharmaceuticals(EYPT) GlobeNewswire·2025-05-07 11:00

Core Insights - EyePoint Pharmaceuticals reported significant progress in its Phase 3 trials for DURAVYU, with over 90% patient enrollment in the LUGANO trial and over 50% in the LUCIA trial, aiming for completion in the second half of 2025 [2][4][5] - The company achieved total net revenue of 24.5millionforQ12025,asubstantialincreasefrom24.5 million for Q1 2025, a substantial increase from 11.7 million in Q1 2024, primarily driven by license and royalty income [6][7] - Operating expenses rose to 73.3millioninQ12025,upfrom73.3 million in Q1 2025, up from 45.0 million in the prior year, largely due to costs associated with the ongoing clinical trials [8] Financial Performance - Total net revenue for Q1 2025 was 24.5million,comparedto24.5 million, compared to 11.7 million in Q1 2024, with net product revenue remaining stable at 0.7million[6][7]−Licenseandroyaltyrevenueincreasedto0.7 million [6][7] - License and royalty revenue increased to 23.7 million in Q1 2025 from 11.0millioninthesameperiodin2024,attributedtodeferredrevenuerecognitionfromtheout−licenseofYUTIQ[7]−ThenetlossforQ12025was11.0 million in the same period in 2024, attributed to deferred revenue recognition from the out-license of YUTIQ [7] - The net loss for Q1 2025 was 45.2 million, or (0.65)pershare,comparedtoanetlossof0.65) per share, compared to a net loss of 29.3 million, or (0.55)pershare,inQ12024[8][20]ResearchandDevelopmentHighlights−DURAVYU′sPhase2VERONAtrialindiabeticmacularedema(DME)demonstratedsignificantefficacy,withaBCVAimprovementof+10.3letterscomparedto+3.0lettersforafliberceptcontrolatweek24[5][14]−Thecompanyhasastrongcashpositionof0.55) per share, in Q1 2024 [8][20] Research and Development Highlights - DURAVYU's Phase 2 VERONA trial in diabetic macular edema (DME) demonstrated significant efficacy, with a BCVA improvement of +10.3 letters compared to +3.0 letters for aflibercept control at week 24 [5][14] - The company has a strong cash position of 318 million as of March 31, 2025, which is expected to fund operations into 2027, beyond the anticipated topline data for the Phase 3 trials [4][10] - DURAVYU is positioned as a potential first-to-market treatment for wet AMD, with a robust safety and efficacy profile supported by ongoing clinical trials [2][5][12]