- EyePoint Pharmaceuticals Inc (NASDAQ:EYPT) executed a license agreement with Betta Pharmaceuticals Co Ltd to develop and commercialize EYP-1901 in Mainland China, Hong Kong, Macau, and Taiwan.
- This agreement expands the collaboration between EyePoint and Equinox Sciences, LLC, a Betta Pharmaceuticals affiliate established in February 2020.
- EyePoint will retain global ophthalmic rights for EYP-1901 in the rest of the world.
- Concurrently, EyePoint and Equinox Sciences have executed an amendment to their February 2020 license agreement, expanding EyePoint's exclusive rights to develop and commercialize vorolanib, a tyrosine kinase inhibitor, through localized delivery for all ophthalmic diseases.
- EyePoint reported Q1 sales of $9.3 million compared to $7.3 million a year ago, missing the consensus of $9.89 million.
- The company reported an EPS loss of $(0.56), up from $(0.50) a year ago, beating the consensus of $(0.58).
- EyePoint held cash and investments of $190.8 million, sufficient to fund operations into 2H of 2024.
- Price Action: EYPT shares are down 5.30% at $11.25 during the market session on the last check Wednesday.
