EyePoint Initiates $150M Public Offering for AMD, DME Drug Development
EyePoint Pharmaceuticals, Inc., led by President, CEO, and Director Jay S. Duker and Executive VP and CFO George Elston, has initiated an underwritten public offering of $150 million of shares of its common stock. The company aims to use the funds for clinical development and general corporate purposes.
EyePoint, listed on NASDAQ as EYPT, has a history of significant events, including clinical development projects focusing on eye diseases such as wet age-related macular degeneration and diabetic macular edema. The company has previously raised funds through public offerings to support these research efforts. Now, EyePoint plans to use the net proceeds from this latest offering to advance the clinical development of DURAVYU for wet AMD and DME, as well as support its earlier stage pipeline development initiatives.
All shares in the offering are being sold by EyePoint. Additionally, the company has granted underwriters an option to purchase up to an additional $22.5 million of shares within 30 days of the offering, indicating potential further investment opportunities.
EyePoint Pharmaceuticals' latest public offering aims to raise $150 million, with the potential for an additional $22.5 million. The funds will be used to advance clinical development of DURAVYU for wet AMD and DME, support earlier stage pipeline initiatives, and cover general corporate purposes. This move reflects the company's commitment to advancing treatments for eye diseases.
