Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Technology
Vandana Singh

EyePoint, Expands Pact With Betta Pharma For EYP-1901 In China, Posts Deeper Q1 Loss

  • EyePoint Pharmaceuticals Inc (NASDAQ:EYPTexecuted 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.
Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.