EyePoint Pharmaceuticals, a company specializing in innovative therapeutics for serious retinal diseases, has reported its financial performance and business developments for the fiscal year ended December 31, 2023. The company saw a decrease in net product sales by 64% to $14.2 million, primarily due to the licensing of YUTIQ to Alimera Sciences and reduced DEXYCU sales. However, license and collaboration agreement revenues increased significantly to $30.8 million, driven by the fulfillment of performance obligations under the Alimera agreement. Royalty income slightly decreased by 13% to $1.0 million. Overall, total revenues increased by 11% to $46.0 million. Research and development expenses rose by 30% to $64.7 million, reflecting ongoing clinical trials for EYP-1901, a treatment for retinal diseases. Sales and marketing expenses decreased by 54% to $11.7 million, and general and administrative expenses increased...Show More

EyePoint Pharmaceuticals, a company specializing in innovative therapeutics for serious retinal diseases, has reported its financial performance and business developments for the fiscal year ended December 31, 2023. The company saw a decrease in net product sales by 64% to $14.2 million, primarily due to the licensing of YUTIQ to Alimera Sciences and reduced DEXYCU sales. However, license and collaboration agreement revenues increased significantly to $30.8 million, driven by the fulfillment of performance obligations under the Alimera agreement. Royalty income slightly decreased by 13% to $1.0 million. Overall, total revenues increased by 11% to $46.0 million. Research and development expenses rose by 30% to $64.7 million, reflecting ongoing clinical trials for EYP-1901, a treatment for retinal diseases. Sales and marketing expenses decreased by 54% to $11.7 million, and general and administrative expenses increased by 15% to $40.1 million. The net loss for the year improved by 31% to $70.8 million. EyePoint Pharmaceuticals also highlighted its business developments, including the advancement of EYP-1901 through Phase 2 clinical trials and the initiation of a Phase 2 trial for EYP-1901 in diabetic macular edema. The company plans to begin pivotal Phase 3 clinical trials for wet AMD in the second half of 2024. EyePoint Pharmaceuticals' future plans include continued investment in its pipeline, with a focus on EYP-1901 and EYP-2301, and assessing future funding requirements to support its operations and clinical trials.