Why Is Vision Disorder-Focused EyePoint Pharmaceuticals Stock Trading Higher Today?
Portfolio Pulse from Vandana Singh
EyePoint Pharmaceuticals reported Q3 revenues of $15.20 million, up from $10 million a year ago, beating the $7.52 million consensus. The company reported a smaller-than-expected EPS loss of 33 cents, beating the consensus loss of 51 cents. The company's cash runway extends into 2025. EyePoint also announced interim masked safety data for its lead product candidate EYP-1901. The company's plans to initiate the VERONA Phase 2 clinical trial evaluating EYP-1901 in diabetic macular edema (DME) in the first quarter of 2024 remain on track. EYPT shares are up 17.20% at $7.06.
November 01, 2023 | 6:36 pm
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EyePoint Pharmaceuticals reported better-than-expected Q3 revenues and EPS, and announced positive developments for its lead product EYP-1901. This has led to a 17.20% increase in its stock price.
EyePoint Pharmaceuticals reported Q3 revenues and EPS that beat consensus estimates, indicating strong financial performance. Additionally, the company announced positive interim safety data for its lead product EYP-1901, which is a positive development for the company's product pipeline. These factors have likely contributed to the increase in the company's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100