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LAGUNA HILLS, Calif. - Eyenovia, Inc. (NASDAQ:EYEN), a micro-cap healthcare company currently valued at $63.55 million, announced Wednesday it is changing its corporate name to Hyperion DeFi, Inc. and will begin trading under the new ticker symbol "HYPD" on the Nasdaq Capital Market starting July 3, 2025.
The company, which describes itself as the first publicly-listed U.S. company to build a strategic treasury of HYPE tokens, said the rebranding reflects its cryptocurrency treasury reserve strategy focused on the native token of the Hyperliquid protocol. According to InvestingPro data, the stock has shown significant volatility, with a current price of $12.45 representing just 10% of its 52-week high.
"Our corporate name change to Hyperion DeFi, Inc. reflects our new vision for the company and represents the next important step in the evolution of our cryptocurrency treasury reserve strategy," said Michael Rowe, Chief Executive Officer, in a press release statement.
The company also announced that its co-branded validator "Kinetiq x Hyperion" is now officially live. Hyperion DeFi has begun staking its HYPE holdings to generate yield and prepare for its on-chain engagement strategies.
While pursuing its cryptocurrency strategy, the company continues to develop its Optejet User Filled Device (UFD), designed to work with topical ophthalmic liquids including artificial tears and lens rewetting products. InvestingPro analysts project 65.92% revenue growth for fiscal year 2025, though the company’s financial health score remains weak at 1.25. Get access to 12+ additional ProTips and comprehensive analysis with an InvestingPro subscription.
The CUSIP number for the company’s common stock remains unchanged despite the name change.
Hyperion DeFi describes its business model as providing shareholders with exposure to HYPE tokens, which generate revenue through native staking yield and on-chain utility.
In other recent news, Eyenovia, Inc. announced a significant $50 million private placement aimed at acquiring HYPE cryptocurrency tokens, positioning itself as the first U.S.-based publicly listed company to hold this digital asset in its treasury. The company plans to use the funds to purchase over 1 million HYPE tokens, the native cryptocurrency of the Hyperliquid blockchain. In a related development, Eyenovia secured a debt restructuring agreement with Avenue Capital Group, extending the maturity date of its debt to July 2028 and reducing the interest rate from 12% to 8%. This restructuring supports Eyenovia’s strategy to build a HYPE token treasury, with Avenue Capital Group becoming the company’s largest common stockholder. Eyenovia has also launched a validator node on the Hyperliquid blockchain in partnership with Kinetiq, utilizing its HYPE tokens to enhance network security. Additionally, Eyenovia has expanded its HYPE token holdings by over 265,000 tokens, bringing its total to more than 1.3 million tokens. The company continues to develop its Gen-2 Optejet User Filled Device, which it expects to register with the FDA by September 2025.
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