EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a company committed
to developing and commercializing therapeutics to improve the lives
of patients with serious retinal diseases, today announced the
pricing of an underwritten public offering of 11,764,706 shares of
its common stock at a public offering price of $17.00 per share.
The aggregate gross proceeds from this offering are expected to be
approximately $200.0 million, before deducting underwriting
discounts and commissions and other offering expenses payable by
EyePoint. All of the shares of common stock are being sold by
EyePoint. The closing of the offering is expected to occur on or
about December 8, 2023, subject to the satisfaction of customary
closing conditions. In addition, EyePoint has granted the
underwriters an option for a period of 30 days to purchase up to an
additional 1,764,705 shares of EyePoint’s common stock at the
public offering price, less underwriting discounts and commissions.
J.P. Morgan, TD Cowen and Guggenheim Securities
are acting as joint book running managers for the offering. Cantor
is also acting as a book running manager for the offering. Mizuho
and Laidlaw & Company (UK) Ltd. are acting as co-managers for
the offering.
EyePoint intends to use the net proceeds that it
will receive from the offering to advance clinical development of
EYP-1901 for wet age related macular degeneration through the
initiation of and reporting of topline data from two pivotal Phase
3 clinical trials, as well as support its earlier stage pipeline
development initiatives, and for general corporate purposes.
The securities described above are being offered
by the Company pursuant to a shelf registration statement on Form
S-3 (No. 333-275125) previously filed with the Securities and
Exchange Commission (SEC) on October 20, 2023 and declared
effective by the SEC on October 30, 2023.
The securities are being offered by means of a
prospectus supplement and accompanying prospectus relating to the
offering that form a part of the registration statement. A
preliminary prospectus supplement relating to the offering was
filed with the SEC on December 4, 2023 and is available on the
SEC’s website at www.sec.gov. The final prospectus supplement
relating to and describing the terms of the offering will be filed
with the SEC and also will be available on the SEC’s website at
www.sec.gov. Before investing in the offering, you should read each
of the prospectus supplement and the accompanying prospectus
relating to the offering in their entirety as well as the other
documents that EyePoint has filed with the SEC that are
incorporated by reference in the prospectus supplement and the
accompanying prospectus relating to the offering, which provide
more information about EyePoint and the offering. Copies of the
final prospectus supplement, when available, and accompanying
prospectus relating to the offering may be obtained from J.P.
Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155
Long Island Avenue, Edgewood, NY 11717, by telephone at (866)
803-9204, or by email at prospectus-eq_fi@jpmchase.com; Cowen and
Company, LLC, 599 Lexington Avenue, New York, NY 10022, by email at
Prospectus_ECM@cowen.com or by telephone at (833) 297-2926;
Guggenheim Securities, LLC, Attention: Equity Syndicate Department,
330 Madison Avenue, 8th Floor, New York, NY 10017, or by telephone
at (212) 518-9544, or by email at
GSEquityProspectusDelivery@guggenheimpartners.com; or Cantor
Fitzgerald & Co., Attention: Capital Markets, 110 East 59th
Street, 6th Floor, New York, New York 10022, or by e-mail at
prospectus@cantor.com.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy any of the
securities described herein, nor shall there be any sale of these
securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
About EyePoint
Pharmaceuticals
EyePoint Pharmaceuticals (Nasdaq: EYPT) is a
clinical-stage company committed to developing and commercializing
therapeutics to help improve the lives of patients with serious
retinal diseases. The Company's pipeline leverages its proprietary
bioerodible Durasert E™ technology for sustained intraocular drug
delivery. The company’s lead product candidate, EYP-1901, is an
investigational sustained delivery treatment for VEGF-mediated
retinal diseases combining vorolanib, a selective and
patent-protected tyrosine kinase inhibitor (TKI) with Durasert E™.
Vorolanib is licensed to EyePoint exclusively by Equinox Sciences
for the localized treatment of all ophthalmic diseases. Additional
pipeline programs include EYP-2301, a promising Tie-2 activator,
razuprotafib, f/k/a AKB-9778, formulated in Durasert E™ to
potentially improve outcomes in wet AMD and diabetic eye disease.
The proven Durasert® drug delivery platform has been safely
administered to over thousands of patient eyes across four U.S. FDA
approved products. EyePoint Pharmaceuticals is headquartered in
Watertown, Massachusetts.
SAFE HARBOR STATEMENTS UNDER THE PRIVATE
SECURITIES LITIGATION ACT OF 1995: To the extent any statements
made in this press release deal with information that is not
historical, these are forward-looking statements under the Private
Securities Litigation Reform Act of 1995. Such statements include,
but are not limited to, statements regarding the timing of the
closing of the offering, as well as the anticipated use of proceeds
for the offering and other statements identified by words such as
“will,” “potential,” “could,” “can,” “believe,” “intends,”
“continue,” “plans,” “expects,” “anticipates,” “estimates,” “may,”
other words of similar meaning or the use of future dates.
Forward-looking statements by their nature address matters that
are, to different degrees, uncertain. Uncertainties and risks may
cause EyePoint’s actual results to be materially different than
those expressed in or implied by EyePoint’s forward-looking
statements. For EyePoint, this includes satisfaction of the
customary closing conditions of the offering, delays in obtaining
required stock exchange or other regulatory approvals, stock price
volatility and uncertainties relating to the financial markets, the
medical community and the global economy, and the impact of
instability in general business and economic conditions, including
changes in inflation, interest rates and the labor market. More
detailed information on these and additional factors that could
affect EyePoint’s actual results are described in EyePoint’s
filings with the SEC, including its Annual Report on Form 10-K
for the fiscal year ended December 31, 2022, as revised or
supplemented by its Quarterly Reports on Form 10-Q and other
documents filed with the SEC. All forward-looking statements in
this news release speak only as of the date of this news release.
EyePoint undertakes no obligation to update or revise any
forward-looking statement, whether as a result of new information,
future events or otherwise.
Investors:Christina TartagliaStern
IRDirect: 212-698-8700christina.tartaglia@sternir.com
Media ContactAmy PhillipsGreen
Room CommunicationsDirect:
412-327-9499aphillips@greenroompr.com
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