EyePoint Pharmaceuticals Provides Business Update and Preliminary Fourth Quarter and Full-Year 2020 Net Product Revenues

- IND filed in December 2020 for EYP-1901, a potential six-month sustained delivery intravitreal anti-VEGF treatment targeting wet age-related macular degeneration -

- Anticipated Phase 1 clinical trial initiation in Q1 2021 -

- Q4 2020 net product revenues are estimated to be $6.2 - $6.6 million versus $7.9 million in 2019 and $20.3 - $20.7 million for the full year 2020 as compared to $16.8 million for the full year 2019 -

- Sequential quarterly increases in customer demand of 30% and 10% for DEXYCU and YUTIQ, respectively -

- Approximately $44M of cash and cash equivalents estimated on December 31, 2020 -

WATERTOWN, Mass., Jan. 11, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a pharmaceutical company committed to developing and commercializing innovative ophthalmic products provided a business update and preliminary fourth quarter and full-year 2020 net product revenues as the company concluded 2020 with the achievement of several positive milestones and is looking forward to an eventful and promising 2021.

“EyePoint had a pivotal year in 2020 as we significantly improved our balance sheet, advanced our pipeline and navigated our commercial business through pandemic closures to be well-poised for a strong 2021,” said Nancy Lurker, President and Chief Executive Officer. “We are particularly excited by the filing of an IND for EYP-1901 in December, as this program has the potential to be a safe and effective twice-yearly sustained treatment for wet AMD. This disease continues to devastate the eyesight of millions of patients, and although current approved treatments are effective, they require monthly or bi-monthly eye injections resulting in poor compliance and outcomes. The need for a less frequent treatment option is a significant opportunity for EYP-1901.”

Ms. Lurker continued, “Upon FDA clearance of the IND, we anticipate the Phase 1 trial for EYP-1901 to begin in the first quarter of 2021 and we expect to report topline results in the second half of this year. In parallel with this activity, our commercial programs YUTIQ and DEXYCU, demonstrated sequential growth in Q3 and Q4 of 2020, despite the ongoing impact of the COVID-19 pandemic on these franchises. Both YUTIQ and DEXYCU are well-positioned for 2021, assuming the frequency of ophthalmology office visits and the number of cataract surgeries performed in the U.S. do not significantly decrease in the coming months due to the pandemic.”