Stifel 2025 Healthcare Conference November 12, 2025 Jay Duker, MD President and CEO © 2025 EyePoint. All Rights Reserved. Legal Disclaimers Various statements made in this presentation are forward-looking, within the meaning of the U.S. Private Securities Litigation Reform Act of 1995, and are inherently subject to risks, uncertainties and potentially inaccurate assumptions. All statements that address activities, events or developments that we intend, expect, plan or believe may occur in the future, are fo ...

Core Insights - EyePoint Pharmaceuticals is advancing its lead product candidate, DURAVYU, through pivotal Phase 3 clinical trials for wet age-related macular degeneration (AMD) and diabetic macular edema (DME), with data readouts expected in mid-2026 [1][2][5] Clinical Development - DURAVYU is currently in Phase 3 trials for both wet AMD and DME, with the LUGANO trial fully enrolled and on track for data readout in mid-2026, followed closely by the LUCIA trial [1][5] - The company has initiated a pivotal Phase 3 DME program consisting of two identical non-inferiority trials, COMO and CAPRI, with first patient dosing anticipated in Q1 2026 [1][2][5] - DURAVYU is positioned as the only tyrosine kinase inhibitor (TKI) in development for DME, a market valued at approximately $3 billion [2][5] Financial Performance - For Q3 2025, total net revenue was reported at $1.0 million, a significant decrease from $10.5 million in Q3 2024 [7] - Net revenue from license and royalties for Q3 2025 totaled $0.4 million, down from $9.9 million in the same period last year, primarily due to the recognition of deferred revenue from a 2023 licensing agreement [8] - Operating expenses for Q3 2025 were $63.0 million, compared to $43.3 million in Q3 2024, driven by increased clinical trial costs related to DURAVYU [9] Funding and Cash Position - The company completed an oversubscribed equity financing, raising $172.5 million, which fully funds the DME pivotal program and extends the cash runway into Q4 2027 [4][6] - As of September 30, 2025, cash, cash equivalents, and marketable securities totaled $204 million, down from $371 million at the end of 2024 [10][11] Research and Development Highlights - Preclinical data indicates DURAVYU's potential as a multi-target treatment, inhibiting both VEGF-mediated vascular permeability and IL-6 mediated inflammation, which are key contributors to wet AMD and DME [4][5] - DURAVYU's Phase 2 VERONA trial data demonstrated early and sustained improvements in visual acuity, reinforcing its potential utility in treating DME [5][14]

Core Viewpoint - EyePoint Pharmaceuticals, Inc. is set to report its third quarter 2025 financial results and discuss recent corporate developments during a conference call on November 5, 2025 [1] Company Overview - EyePoint Pharmaceuticals is a clinical-stage biopharmaceutical company focused on developing innovative therapeutics for serious retinal diseases [3] - The company's lead product candidate, DURAVYU, is an investigational sustained delivery treatment for serious retinal diseases, combining vorolanib, a selective tyrosine kinase inhibitor, with next-generation bioerodible Durasert E technology [3] - DURAVYU is currently undergoing evaluation in two Phase 3 pivotal trials for wet age-related macular degeneration (wet AMD), with data expected in mid-2026, and the first patient dosing in trials for diabetic macular edema (DME) anticipated in Q1 2026 [3] Product Information - Vorolanib is exclusively licensed to EyePoint for the localized treatment of all ophthalmic diseases outside of specific regions in Asia [5] - DURAVYU has received conditional acceptance from the FDA as the proprietary name for EYP-1901 (vorolanib intravitreal insert) but is not yet authorized for sale in any country [6] Commitment to Community - The company aims to partner with the retina community to enhance patient lives while creating long-term value, having developed four approved drugs over three decades and treated tens of thousands of patients [4]

Company Overview - EyePoint Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on developing innovative therapeutics for serious retinal diseases [3] - The company is headquartered in Watertown, Massachusetts, with a commercial manufacturing facility in Northbridge, Massachusetts [4] Product Development - EyePoint's lead product candidate, DURAVYU, is an investigational sustained delivery treatment for VEGF-mediated retinal diseases, combining vorolanib, a selective tyrosine kinase inhibitor, with next-generation bioerodible Durasert E technology [3] - DURAVYU is currently being evaluated in two Phase 3 pivotal trials for wet age-related macular degeneration (wet AMD), with topline data expected in 2026 [3] - The product has also completed a positive Phase 2 clinical trial in diabetic macular edema (DME), with Phase 3 pivotal planning underway [3] - Vorolanib is exclusively licensed to EyePoint for the localized treatment of all ophthalmic diseases outside of certain regions in Asia [5] Market Context - Wet AMD is the leading cause of vision loss among individuals aged 50 and older in the United States, indicating a significant unmet medical need [3] - Despite existing therapies, patients with wet AMD and DME continue to experience long-term vision loss [3] Corporate Communication - EyePoint Pharmaceuticals will host a conference call and live webcast on August 6, 2025, to report its second quarter 2025 financial results and highlight recent corporate developments [1]

DURAVYU Clinical Trials and Data - DURAVYU pivotal Phase 3 trial in wet AMD, LUGANO is fully enrolled, and LUCIA is 60% enrolled and randomized[3] - VERONA Phase 2 trial in DME showed highly positive efficacy and safety data[3] - DAVIO 2 Phase 2 trial showed 89% reduction in treatment burden with 2mg DURAVYU and 85% with 3mg DURAVYU vs 6 months prior[29] - In the VERONA Phase 2 DME trial, DURAVYU 2.7mg demonstrated an early and sustained BCVA improvement of +7.1 letters and CST improvement of -76 microns[47] - In a sub-group analysis of supplement-free patients in the VERONA trial, DURAVYU 2.7mg showed a mean BCVA change from baseline of +7.3 letters and a CST change of -73.7 um[59] Market and Unmet Needs - Over 80% of Retina Specialists indicate undertreatment in wet AMD is due to patient noncompliance, scheduling limitations, or provider preference for less frequent dosing[8] - A delay in treatment of only 5.34 weeks can result in vision loss[9] - By 2030, the global branded market for DME is projected to reach $3.0 billion[11] - By 2050, diabetes-related vision loss is expected to cost $500 million annually in the US[12] Company Financials and Pipeline - EyePoint Pharmaceuticals had $318 million in cash as of March 31, 2025, providing a runway into 2027 post Phase 3 LUGANO/LUCIA data in 2026[3] - LUCIA full enrollment is anticipated in 3Q 2025[5] - LUGANO topline data is anticipated in mid-2026, with LUCIA topline data following in 2H 2026[35]

DURAVYU Program - DURAVYU, a patent-protected vorolanib product utilizing Durasert E technology, is in Phase 3 trials for wet AMD and has a program in DME supported by Phase 2 data[3] - Phase 2 VERONA trial in DME showed a 73% supplement-free rate in the 2.7mg DURAVYU arm compared to 50% in the aflibercept control group[35] - The VERONA trial's 2.7mg DURAVYU treatment demonstrated a clinically meaningful improvement in BCVA of +7.1 letters[35] - The VERONA trial's 2.7mg DURAVYU treatment demonstrated an early and sustained CST improvement of -76 microns[35] Clinical Trials and Pipeline - EyePoint is conducting two global Phase 3 non-inferiority pivotal trials (LUGANO and LUCIA) in wet AMD[3] - Enrollment completion in the EYP-2301 program for serious retinal diseases is expected in the second half of 2025[6] - LUGANO trial is ~1/3 enrolled, and LUCIA is exceeding expectations as of January 2025, with topline data for both Phase 3 pivotal trials anticipated in 2026[65, 66] Financial Status - EyePoint has a strong balance sheet with approximately $370 million in cash and equivalents as of December 31, 2024, providing a cash runway into 2027[3] Market Opportunity - The global market for DME is projected to reach $3.9 billion by 2030[25]

Group 1: Market Overview - High volatility in markets throughout 2025 has created opportunities for momentum investors to capture gains when target stocks rise [1] - Timing momentum plays can be challenging, but early identification of targets in a sustained rally can provide an advantage [1] Group 2: EyePoint Pharmaceuticals (EYPT) - EyePoint Pharmaceuticals, a clinical-stage biopharma firm, has seen its stock price forecasted to reach $25.38, indicating a potential upside of 188.39% from the current price of $8.80 [2] - The company reported first-quarter revenue of nearly $25 million, significantly exceeding analyst expectations of just under $9 million [3] - EyePoint's lead drug candidate, DURAVYU, is in a critical Phase 3 clinical trial, with top-line data expected in 2026 [4] - The company ended the first quarter with over $318 million in cash and investments, sufficient to sustain operations through 2027 [4] - EYPT shares have increased by more than 19% in the last month, with analysts suggesting that growth is just beginning [5] Group 3: Nova Ltd. (NVMI) - Nova Ltd., which designs process control systems for semiconductor manufacturing, has a stock price forecast of $277, representing a 26.02% upside from the current price of $219.81 [6] - The company reported quarterly revenue growth of over 50% year-over-year, with earnings per share of $2.18 beating analyst estimates by 10 cents [7] - Analysts project Nova's earnings growth could exceed 7% in the future, supported by a year-over-year cash flow growth of about 32% [8] - NVMI shares have risen by more than 10% in the last month, with a consensus price target suggesting over 27% upside potential [9] Group 4: Ouster Inc. (OUST) - Ouster Inc. specializes in LiDAR technology for 3D mapping and imaging, with a stock price forecast of $14.10, indicating a 2.45% upside from the current price of $13.76 [10] - The company reported first-quarter revenue of $33 million, a 26% year-over-year increase, and a GAAP gross margin improvement to 41% from 29% [11] - Ouster projects second-quarter revenue between $32 million and $35 million, indicating significant upside potential [11] - The company's stock has rallied over 71% in the last year, with analysts optimistic about further growth due to increasing demand for robotics and automation services [12]

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 $24.5 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 $73.3 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 $24.5 million, compared to $11.7 million in Q1 2024, with net product revenue remaining stable at $0.7 million [6][7] - License and royalty revenue increased to $23.7 million in Q1 2025 from $11.0 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) per share, compared to a net loss of $29.3 million, or ($0.55) 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]

Financial Data and Key Metrics Changes - For Q4 2024, total net revenue was $11.6 million, down from $14 million in Q4 2023. Net product revenue was $0.8 million compared to $0.7 million in the same period last year [33][34] - For the full year 2024, total net revenue was $43.3 million, down from $46 million in 2023. Net product revenue for 2024 was $3.2 million, significantly lower than $14.2 million in 2023 due to the sale of YUTIQ product rights [36][37] - Operating expenses for Q4 2024 totaled $56.8 million, up from $30.4 million in the prior year, primarily due to ongoing Phase 3 trials for DURAVYU [35] - The net loss for Q4 2024 was $41.4 million or $0.64 per share, compared to a net loss of $14.1 million or $0.33 per share in Q4 2023 [36] - The company ended 2024 with $371 million in cash and investments, up from $331 million at the end of 2023, and expects this will fund operations into 2027 and beyond [39] Business Line Data and Key Metrics Changes - The company is focusing on the DURAVYU program, with net product revenue expected to remain at immaterial levels as YUTIQ supply to ANI Pharmaceuticals will cease by May 31, 2025 [33][34] - Net revenue from royalties and collaborations for Q4 2024 was $10.8 million, down from $13.3 million in Q4 2023, primarily due to lower recognition of deferred revenue from YUTIQ [34] Market Data and Key Metrics Changes - DURAVYU is positioned as a leader in ocular sustained drug delivery, with ongoing Phase 3 trials in wet AMD and positive Phase 2 results in DME [11][12] - Enrollment in the LUGANO and Lucia trials for wet AMD is exceeding expectations, with completion anticipated in the second half of 2025 [13][28] Company Strategy and Development Direction - The company aims to be the first to submit a new drug application for a six-month intravitreal wet AMD program, which could capture significant market share [14][27] - The strategic focus is on advancing DURAVYU through clinical trials and preparing for commercial launch, with a strong emphasis on patient-centric trial design [15][30] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the ongoing clinical trials and the potential for DURAVYU to transform treatment for retinal diseases, highlighting the strong safety and efficacy data [10][30] - The company plans to engage with regulatory agencies regarding the pivotal trial design for DME, with a meeting expected in the second quarter of 2025 [26][89] Other Important Information - The Northbridge manufacturing facility is operational and ready for registration batch manufacturing to support NDA filing [100][102] - The company has a solid patent protection strategy for DURAVYU, enhancing its competitive position in the market [22] Q&A Session Summary Question: How many clinical sites have been activated for the wet AMD pivotal program? - Most sites are activated in the U.S., with approximately 60 active sites per study. Plans include 60 to 80 sites for ex-U.S. studies [46][51] Question: Can you comment on the subgroup analysis of the 2.7% milligram versus aflibercept? - The analysis shows a strong dose response, with the 2.7% dose demonstrating significant improvements in visual acuity and fluid control compared to the control group [54][56] Question: What is the current status of the razuprotafib program? - Razuprotafib is on a lower priority but continues with preclinical activities. The focus remains on wet AMD execution [130] Question: What are the plans for post-marketing studies for DURAVYU? - Plans include studies comparing DURAVYU against current industry leaders, focusing on supplement-free rates and long-term efficacy [78][81] Question: What is the expected cash runway guidance? - The cash guidance extends into 2027, covering ongoing work for DURAVYU and wet AMD, but does not include the DME study itself [129]