24/7 Market News Snapshot 28 October, 2024 – EyePoint Pharmaceuticals, Inc. Common Stock (NASDAQ:EYPT)

October 28, 2024

DENVER, Colo., 28 October, 2024 (247marketnews.com) – (NASDAQ:EYPT) are discussed in this article.
EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) is experiencing a notable surge in its stock performance, which opened today at $10.68 and has seen an impressive increase of over 21.47%, now trading at $11.54. This uplift is complemented by significant trading volume, exceeding 4.55 million shares, indicating strong confidence from investors and renewed interest in the biopharmaceutical market.

In conjunction with this market momentum, EyePoint has announced the launch of an underwritten public offering aimed at raising $100 million through the sale of its common stock. Additionally, underwriters have the option to purchase up to $15 million more within a 30-day timeframe. The proceeds from this offering are earmarked primarily for advancing the clinical development of EyePoint’s investigational sustained delivery treatment, DURAVYU™, which targets serious retinal diseases such as wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME).

Currently in Phase 3 global clinical trials, DURAVYU™ is expected to yield full top-line data from DME trials in early 2025, while pivotal results for wet AMD are anticipated in 2026. This commitment to innovation is bolstered by EyePoint’s proprietary Durasert E™ technology platform, designed to revolutionize treatment delivery in ophthalmology, thereby enhancing patient outcomes.

To facilitate this offering, J.P. Morgan, Citigroup, and Guggenheim Securities have been appointed as joint book-running managers. Investors should remain vigilant as EyePoint continues to turn heads in the regulatory landscape, demonstrating innovation and strategic growth in the evolving biopharmaceutical industry. The unfolding developments signal a promising trajectory for the company and its stakeholders.

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