EyePoint, Expands Pact With Betta Pharma For EYP-1901 In China, Posts Deeper Q1 Loss

EyePoint Pharmaceuticals Inc EYPT executed a license agreement with Betta Pharmaceuticals Co Ltd to develop and commercialize EYP-1901 in Mainland China, Hong Kong, Macau, and Taiwan.
This agreement expands the collaboration between EyePoint and Equinox Sciences, LLC, a Betta Pharmaceuticals affiliate established in February 2020.
EyePoint will retain global ophthalmic rights for EYP-1901 in the rest of the world.
Concurrently, EyePoint and Equinox Sciences have executed an amendment to their February 2020 license agreement, expanding EyePoint's exclusive rights to develop and commercialize vorolanib, a tyrosine kinase inhibitor, through localized delivery for all ophthalmic diseases.
EyePoint reported Q1 sales of $9.3 million compared to $7.3 million a year ago, missing the consensus of $9.89 million.
The company reported an EPS loss of $(0.56), up from $(0.50) a year ago, beating the consensus of $(0.58).
EyePoint held cash and investments of $190.8 million, sufficient to fund operations into 2H of 2024.
Price Action: EYPT shares are down 5.30% at $11.25 during the market session on the last check Wednesday.

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