EyePoint Pharmaceuticals(EYPT) - 2022 Q2 - Earnings Call Transcript

Financial Data and Key Metrics Changes - Total net revenue for Q2 2022 was $11.6 million, an increase from $9 million in Q2 2021, representing a 30% growth [38] - Net product revenue for Q2 2022 was $11.3 million compared to $8.7 million in the prior year period [38] - Net loss for Q2 2022 was $19.4 million or $0.52 per share, compared to a net loss of $10 million or $0.35 per share in the prior year [40] Business Line Data and Key Metrics Changes - YUTIQ generated $7.4 million in revenue for Q2 2022, while DEXYCU contributed $3.9 million [32] - Customer demand for YUTIQ increased by approximately 40% from Q1 2022, with 900 units sold [32] - Customer demand for DEXYCU remained consistent with Q1 2022, with 14,700 units sold [32] Market Data and Key Metrics Changes - YUTIQ received approval for commercial use in China, marking a significant milestone for the company in expanding its global reach [14] - The company anticipates continued growth in customer demand for YUTIQ, particularly among retina specialists [33] Company Strategy and Development Direction - The company aims to become a leader in sustained ocular delivery, focusing on improving retinal treatment and bringing therapies to patients globally [17] - EYP-1901 is positioned as a maintenance therapy for wet AMD, with the goal of extending treatment intervals to up to six months [21] - The company is exploring additional indications for EYP-1901, including non-proliferative diabetic retinopathy (NPDR) [27] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the execution of clinical trials and the potential of EYP-1901 to address significant unmet needs in ocular therapies [18][31] - The company is well-capitalized to fund operations into the second half of 2024, supporting ongoing clinical and commercial initiatives [40] Other Important Information - The company hosted its first Investor Day, showcasing its Durasert drug delivery platform and clinical results [13] - Two new Board appointments were made to strengthen the leadership team, including experts in ophthalmology and biopharmaceuticals [15][16] Q&A Session Summary Question: Will the company provide quarterly enrollment updates for the Phase 2 DAVIO 2 trial? - Management stated that they do not plan to provide such updates, as clinical trial enrollments can fluctuate significantly [44] Question: What are the powering assumptions for the DAVIO 2 trial? - Management indicated that specific statistics around DAVIO 2 have not been publicly announced yet, as the study is not powered to a high enough level for confidence [46] Question: What testing work led to the choice of 2 and 3 milligram doses for the diabetic retinopathy study? - The decision was based on the highest doses used in the DAVIO trial, as the maximally tolerated dose has not been established [52] Question: When will the company know about the CMS pass-through decision for DEXYCU? - The final rules are expected to be released in November, which will clarify the pass-through status [55] Question: Are there other molecules being explored for potential partnerships? - The company is looking at various molecules, including complement inhibitors, and is interested in partnering with companies that have proven mechanisms of action [67][70]