William Blair initiated coverage on Eyenovia Inc (NASDAQ:EYEN) with an Outperform rating and an estimated fair value for shares of $3. The rating is based on a risk-adjusted net present value for Eyenovia's products and clinical-stage pipeline. The company recently received approval for MydCombi, validating the Optejet drug device. Eyenovia is also advancing treatments for progressive myopia in children presbyopia and has recently acquired the U.S. rights to APP13007, a potent topical steroid intended for post-ocular surgery use. William Blair anticipates Eyenovia's expansion of manufacturing operations in Redwood City, which is expected to pave the way for achieving profitability with the Optejet platform.