EyePoint Pharmaceuticals and Alimera Sciences Higher on YUTIQ Deal

May 18, 2023

(24/7 MARKET NEWS) – EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) and Alimera Sciences, Inc. (NASDAQ:ALIM) published, this morning, separate announcements concerning EyePoint’s sale of global rights to YUTIQ outside of China, Hong Kong, Taiwan, Macau and Southeast Asia, where YUTIQ is exclusively licensed to Ocumension Therapeutics.

EyePoint will receive a total of $82.5 million and has used the proceeds to retire all of its outstanding bank debt and expects to have a cash runway that extends into 2025, while Alimera expects the move to be immediately accretive in 2023 and it projects at least $100 million of consolidated net revenue and over $20 million of Adjusted EBITDA* for 2024.

EyePoint is trading at $7.00, up $0.59 (+9.20%), on 10K premarket shares traded. Its 52-week range is $2.19 to $11.44. It needs to chew through some low trading volume resistance in order to make a bigger move.

Alimera is trading at $2.63, up $0.57 (+27.67%), on 346.6K premarket shares traded. Its 52-week range is $1.30 to $7.92. It looks poised to hit new 2023 highs from this news.

24/7 MARKET NEWS, INC Disclaimer

24/7 MARKET NEWS (“24/7 MN”) is dedicated to covering various underreported segments of the stock markets. Our goal is to help you to better understand these markets, but 24/7 MN is neither an investment advisor nor a financial advisor, and no information provided here is to be interpreted as a suggestion to buy or sell stocks or other investment products. All opinions, news, research, analysis, prices or other information contained on 247marketnews.com, its press releases, or other services are provided for educational purposes only and do not constitute investment advice. You are solely responsible for the investment decisions you make.

Please go to 247marketnews.com or https://247marketnews.com/terms-disclaimer/ for further information.

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.