EYEN Shares Are Trading Higher Today: What You Need To Know
Portfolio Pulse from Vaishali Prayag
Eyenovia Inc (NASDAQ:EYEN) shares surged after announcing the launch of a new FDA-approved ophthalmic drug, APP13007, in collaboration with Formosa Pharmaceuticals. The drug, designed for postoperative inflammation and pain, offers a more convenient dosing regimen. Eyenovia plans full-scale commercialization in September 2024.
September 09, 2024 | 8:11 pm
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Eyenovia's stock surged by 14.94% following the announcement of a new FDA-approved ophthalmic drug, APP13007, developed with Formosa Pharmaceuticals. The drug's unique dosing regimen and market potential in the $1.3 billion U.S. ophthalmic steroid market are expected to boost Eyenovia's revenues and market presence.
The launch of a new FDA-approved drug is a significant milestone for Eyenovia, likely to enhance its market presence and revenue potential. The stock's 14.94% surge reflects investor optimism about the drug's market entry and its competitive advantage in dosing regimen.
CONFIDENCE 95
IMPORTANCE 90
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