Eyenovia Updates on Proposed Betaliq Merger, Optejet UFD Development, and Q1 2025 Financial Results

May 20, 2025

DENVER, Colo., May 20, 2025 (247marketnews.com)- Eyenovia (NASDAQ:EYEN) provided key updates regarding its ongoing merger discussions with Betaliq, progress on the development of its Optejet User-Filled Device (UFD), and financial results for the first quarter ended March 31, 2025.

Update on Proposed Merger with Betaliq

Eyenovia and Betaliq, a private clinical-stage company focused on treatments for glaucoma, continue to work toward finalizing a binding merger agreement. The companies have mutually agreed to extend the exclusivity period outlined in the signed Letter of Intent through June 7, 2025, allowing additional time to finalize the terms of the proposed merger. Betaliq brings access to Eyesol, a novel non-aqueous drug delivery technology that could complement Eyenovia’s platform and pipeline.

Progress on Optejet User-Filled Device (UFD)

Development of the user-filled version of the Optejet device remains on schedule, with a regulatory submission for U.S. approval anticipated in September 2025. If approved, the Optejet UFD could unlock multiple commercial opportunities, both through direct-to-consumer sales and partnerships with eye care providers. It may also strengthen relationships with existing and potential licensing partners, including Arctic Vision in China and South Korea.

First Quarter 2025 Financial Highlights

Eyenovia continued its financial and operational restructuring during the first quarter of 2025, resulting in:

  • A 70% reduction in cash burn compared to Q1 2024
  • Improved terms under a debt restructuring agreement, deferring certain repayment obligations until October 2025

Key Financial Metrics:

  • Net loss: $3.5 million, or $1.59 per share (vs. $10.9 million, or $18.75 per share in Q1 2024)
  • R&D expenses: $0.7 million (down 85% from $4.4 million in Q1 2024)
  • G&A expenses: $2.4 million (down 35% from $3.6 million in Q1 2024)
  • Total operating expenses: $3.0 million (down 70% from $10.1 million in Q1 2024)
  • Unrestricted cash and cash equivalents: $3.9 million as of March 31, 2025 (vs. $2.1 million at year-end 2024)

Management Commentary

Michael Rowe, Eyenovia’s CEO, stated, “We remain focused on seeking to maximize shareholder value by working to complete a definitive merger agreement with Betaliq that, if and when completed, will create a new eyecare company with immediate revenue through the sale of our existing FDA-approved products and significant pipeline opportunities that we believe leverage complementary FDA-approved technologies, including our Optejet platform.”

About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community. Visit 24/7 Market News website here.

24/7 MARKET NEWS, INC Disclaimer
Please go to https://247marketnews.com/disclaimer/ for disclaimer information.

CONTACT:
24/7 Market News
Editor@247marketnews.com

Related news for (EYEN)

NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.