EyePoint Pharmaceuticals President & COO, Dr. Jay Duker Says Co's YUTIQ Franchise Sale Helped The Co To Pay Off All Its Debt And Put $40M+ Cash On The Balance Sheet, Says Co's Cash Runaway Extended To 2025 And Co Is Debt Free
Portfolio Pulse from Benzinga Newsdesk
EyePoint Pharmaceuticals' President & COO, Dr. Jay Duker, announced that the sale of the company's YUTIQ franchise has allowed the company to pay off all its debt and add over $40M in cash to its balance sheet. The company's cash runway has been extended to 2025 and it is now debt-free.
June 29, 2023 | 3:07 pm
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EyePoint Pharmaceuticals has paid off all its debt and added over $40M in cash to its balance sheet following the sale of its YUTIQ franchise. The company's cash runway is now extended to 2025.
The sale of the YUTIQ franchise has significantly improved EyePoint Pharmaceuticals' financial position. The company has not only managed to pay off all its debt but also added a substantial amount of cash to its balance sheet. This has extended the company's cash runway to 2025, providing it with a solid financial foundation for the next few years. This is likely to have a positive impact on the company's stock in the short term.
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