EyePoint Pharmaceuticals expands board with key appointment

WATERTOWN, Mass. - EyePoint Pharmaceuticals, Inc. (NASDAQ: NASDAQ:EYPT), a biopharmaceutical company focused on developing treatments for serious retinal diseases, announced today the appointment of Reginald J. Sanders, M.D., FASRS, to its Board of Directors. Dr. Sanders is a recognized leader in the field of ophthalmology and brings a wealth of clinical experience to the company as it advances its pipeline of innovative therapeutics. With a market capitalization of approximately $647 million, EyePoint has shown significant momentum, posting a 24% return in the past week. According to InvestingPro data, five analysts have recently revised their earnings expectations upward for the upcoming period.

Dr. Sanders' career is marked by his service as a board member of Prism Vision Group and as the recent President of the American Society of Retina Specialists. His extensive background includes serving as a principal investigator for Lucentis®, a significant treatment for wet age-related macular degeneration (wet AMD (NASDAQ:AMD)). His experience is expected to be particularly beneficial as EyePoint progresses its global phase 3 pivotal trials for wet AMD and reports recent positive interim data from a Phase 2 trial in diabetic macular edema (DME). InvestingPro analysis reveals the company maintains a strong liquidity position with a current ratio of 5.5, though it's currently experiencing rapid cash burn - a common characteristic for clinical-stage biotech companies.

The company's lead product candidate, DURAVYU™ (f/k/a EYP-1901), is currently in Phase 3 clinical trials as a treatment for wet AMD and in a Phase 2 trial for DME. Full topline data from the Phase 2 DME trial is anticipated in Q1 2025, with results from the Phase 3 wet AMD trials expected in 2026. Investors seeking deeper insights into EyePoint's financial health and growth prospects can access comprehensive analysis through InvestingPro's detailed research reports, which cover over 1,400 US stocks including EYPT.

Dr. Sanders expressed his honor in joining the Board at a critical juncture and commended EyePoint's robust clinical data and the potential of DURAVYU for treating serious retinal diseases. EyePoint's proprietary Durasert E™ technology underpins their commitment to sustained intraocular drug delivery, aiming to improve patient outcomes with their pipeline products. The company's financial position shows more cash than debt on its balance sheet, though analyst consensus indicates profitability remains a future milestone.

EyePoint Pharmaceuticals, headquartered in Watertown, Massachusetts, holds a license from Equinox Sciences for the localized treatment of all ophthalmic diseases with vorolanib, excluding China, Macao, Hong Kong, and Taiwan. As DURAVYU is investigational, its approval by the FDA is pending, and the timeline for potential approval remains uncertain.

This announcement is based on a press release statement from EyePoint Pharmaceuticals, Inc.

In other recent news, EyePoint Pharmaceuticals has reported significant advancements in its clinical trials and financial operations. The biotechnology company has initiated the LUCIA trial, a second global Phase 3 clinical study for its investigational drug DURAVYU, aimed at treating wet age-related macular degeneration (wet AMD). The first patient in the trial has been dosed, highlighting the company's commitment to addressing severe retinal diseases.

EyePoint's recent financial activities include reporting a net revenue of $10.5 million and a net loss of $29.4 million for the third quarter, and initiating a public offering of its common stock valued at $100 million. These strategic moves aim to extend the company's cash runway into 2027.

Citi initiated coverage on EyePoint with a Buy rating, drawing parallels between EyePoint's development of sustained-release drugs for wet age-related macular degeneration (wAMD) and previous competitive races in the ophthalmology sector that significantly progressed treatment standards. Analysts from Baird, H.C. Wainwright, Guggenheim, Laidlaw, and CapitalOne have provided varied outlooks on the company, with some maintaining Buy ratings and others reducing their price targets.

EyePoint anticipates topline data from the Phase 3 pivotal trials in 2026 and from a Phase 2 trial in diabetic macular edema in the first quarter of 2025. The company has also seen changes to its board with the appointment of Fred Hassan and the resignations of Anthony P. Adamis, M.D., and David Guyer, M.D.

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