EyePoint slides after unveiling $100 mln stock offering

EyePoint

28/10/2024 22:22

(Updates)
    ** Shares of EyePoint Pharmaceuticals  EYPT.O  slide 8.5% to
$11.09 after the bell
        ** EYPT 
    unveils
     public offering of $100 mln worth of shares
  
        ** J.P. Morgan, Citigroup and Guggenheim Securities are
the joint book running managers for the offering
  
        ** EYPT stock closed up 27.6% at $12.12 on Monday
  
        ** Co has 53.5 mln outstanding shares, giving it a
$648.6 mln market capitalization - LSEG data
  
    ** Earlier in the day, EYPT said its drug, Duravyu, showed
an improvement in how well patients can see objects at a
distance in a mid-stage trial testing it in diabetic macular
edema (DME)
    ** EYPT plans on using the proceeds to advance the
development of Duravyu as well as support its earlier stage
pipeline development initiatives
    ** DME is an eye condition that causes blurry vision in
people with diabetes
    ** EYPT expects to report the full topline results in Q1
2025
    ** As of last close, EYPT stock down 47.6% YTD

 (Reporting by Puyaan Singh and Arasu Kannagi Basil in
Bengaluru)
 ((Puyaan.Singh@thomsonreuters.com;))