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NEW YORK - Eyenovia, Inc. (NASDAQ:EYEN), a $65 million market cap company currently trading near $12.74, has acquired an additional 265,872 HYPE tokens, bringing its total holdings to 1,306,452 tokens purchased at an average price of $34.83 per token, the company announced Monday. According to InvestingPro data, the company faces challenges with cash burn and liquidity, with short-term obligations exceeding liquid assets.
The ophthalmic technologies firm, which describes itself as the first publicly-listed U.S. company to build a strategic treasury of HYPE tokens, plans to use the expanded holdings to support ecosystem growth initiatives, including its validator operations and upcoming yield generation opportunities at the protocol level. While analysts project 65.92% revenue growth for fiscal year 2025, InvestingPro analysis indicates the company is not expected to achieve profitability this year.
"We continue to see strong signals from the market and prospective partners affirming the importance of HYPE’s role in next-generation financial infrastructure," said Hyunsu Jung, Chief Investment Officer of Eyenovia, in a press release statement.
HYPE is the native token of Hyperliquid, a layer one blockchain optimized for high-frequency trading that features onchain perpetual futures and spot order books. According to the company, the token has become the 12th-largest cryptocurrency by market capitalization as of June 2025.
Eyenovia maintains a dual focus on developing its proprietary Optejet User Filled Device (UFD) for topical eye treatments while building its HYPE token treasury. The company states this strategy aims to provide shareholders with exposure to the Hyperliquid ecosystem.
The blockchain’s autonomous mechanism has reportedly sequestered more than 25 million HYPE tokens through trading fees generated on the network’s order books. The stock has shown significant volatility, with a remarkable 98.54% return over the past week despite being down 77% year-over-year. Get deeper insights into Eyenovia’s financial health and growth prospects with InvestingPro, which offers 15+ additional exclusive tips and comprehensive analysis.
In other recent news, Eyenovia, Inc. has announced several significant developments. The company revealed a $50 million private placement to fund a new cryptocurrency strategy centered on acquiring HYPE tokens, the native cryptocurrency of the Hyperliquid blockchain. This move positions Eyenovia as the first U.S.-based publicly listed company to hold HYPE tokens in its treasury. Additionally, Eyenovia has secured debt restructuring from Avenue Capital Group, extending the maturity date of its senior secured debt to July 2028 and reducing the interest rate to 8%. This restructuring supports the company’s digital asset strategy as it builds a HYPE token treasury.
In another development, Eyenovia launched a co-branded validator node on the Hyperliquid blockchain in partnership with Kinetiq, utilizing its recently acquired HYPE tokens. This strategic move is part of Eyenovia’s efforts to generate additional value within the Hyperliquid ecosystem. The company also amended its loan agreement with Avenue Capital Management, limiting the stock conversion option for lenders to prevent them from owning more than 9.99% of Eyenovia’s outstanding common stock post-conversion. Eyenovia’s Chief Investment Officer, Hyunsu Jung, has been appointed to lead the cryptocurrency initiative, while Max Fiege joins as a Strategic Advisor to support the HYPE treasury initiative. These developments highlight Eyenovia’s strategic shift towards integrating digital assets while continuing its existing pharmaceutical business.
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