EyePoint Pharmaceuticals Q3 revenue falls, net loss widens

Overview

• US biopharma firm's Q3 revenue declined yr/yr as product sales fell

• Q3 net loss widened on higher R&D expenses for DURAVYU Phase 3 trials

• Company to cut workforce by 53% and focus on DME program, targeting $30 mln in annual savings

Outlook

• Company expects topline data from Phase 3 DME trials in early Q4 2027

• EyePoint expects operational cash to fund operations into late Q3 2027

Result Drivers

• R&D SPENDING - Co said higher operating expenses were primarily due to ongoing DURAVYU Phase 3 clinical trials for wet AMD and DME

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 2 "strong buy" or "buy", 10 "hold" and 1 "sell" or "strong sell"

• The average consensus recommendation for the pharmaceuticals peer group is "buy."

• Wall Street's median 12-month price target for EyePoint Inc is $4.00, about 1,021.7% above its November 11 closing price of $0.36

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)