EyePoint Pharmaceuticals (NSDQ:EYPT) said today that it received $28.9 million in proceeds from the exercise of warrants by EW Healthcare Partners, Rosalind Advisors and another accredited investor.
Last month, the Watertown, Mass.-based company won transitional pass-through status and reimbursement of its dexamethasone intraocular suspension, Dexycu, from the Centers for Medicare and Medicaid Services.
The FDA-approved product is designed to treat inflammation following cataract surgery using a single, intraocular dose of long-acting dexamethasone.
“We are pleased to receive the continued support of EW Healthcare Partners, Rosalind Advisors and our other investors, for our innovative pipeline of ocular disease products,” president & CEO Nancy Lurker said in prepared remarks. “The additional capital will fund our ongoing commercialization initiatives for the planned product launches of Dexycu and, if approved, Yutiq, in the first half of 2019, as well as general corporate purposes to support our transition into a commercial-stage organization.”
The FDA is slated to make a decision about the new drug application for EyePoint’s Yutiq product by Nov. 5. The company’s lead product candidate is designed as a three-year treatment for non-infectious posterior segment uveitis.
EYPT shares were trading at $3.48 apiece in mid-morning activity today, down -2.8%.
