In This Story
EyePoint Pharmaceuticals Inc. (EYPT+5.30%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing outlines the company's financial performance, including a net loss of $130.9 million for the year, compared to a net loss of $70.8 million in the previous year. This increase in net loss is attributed to higher research and development expenses as the company continues to invest in its lead product candidate, DURAVYU™, for the treatment of wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME).
Total revenues for the year were $43.3 million, a decrease from $46.0 million in 2023. This decline was primarily due to a decrease in product sales, which fell to $3.2 million from $14.2 million in the previous year, following the agreement to license YUTIQ® product rights to ANI Pharmaceuticals, Inc.
Research and development expenses increased significantly to $132.9 million from $64.7 million in 2023. The increase was driven by higher clinical trial costs related to ongoing Phase 2 and Phase 3 trials of DURAVYU™, as well as increased personnel-related costs.
The company reported cash, cash equivalents, and investments in marketable securities totaling $370.9 million as of December 31, 2024, which it believes will fund operations into 2027. EyePoint Pharmaceuticals continues to explore additional funding opportunities to support its operations and strategic initiatives.
EyePoint Pharmaceuticals remains focused on advancing DURAVYU™ through clinical development, with ongoing Phase 3 trials for wet AMD and Phase 2 trials for DME. The company is also pursuing additional product candidates through internal research, collaborations, and potential acquisitions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the EyePoint Pharmaceuticals Inc. annual 10-K report dated March 6, 2025. To report an error, please email earnings@qz.com.