EyePoint Pharmaceuticals reports $1M in product revenue in Q3

Biopharmaceutical company EyePoint Pharmaceuticals reported its third-quarter financial results.

Three details:

1. Total revenue for the third quarter was $2.5 million, with net product revenue totaling $1 million, primarily from EyePoint's corticosteroid, Dexycu.

2. Net loss for the company at the end of the third quarter was $15.6 million, compared to a $33.1 million loss from the same period the year prior.

3. Cash and equivalents at the end of the third quarter were $31.8 million.

"We are pleased with the strong growth in customer orders during the quarter as our sales team is making significant progress in penetrating targeted accounts for both Dexycu and Yutiq,” said Nancy Lurker, president and CEO of EyePoint Pharmaceuticals. “At the customer level, Dexycu is gaining momentum at high volume ambulatory surgery centers with increasing repeat orders by physicians who favor its targeted, efficient ocular administration and its positive efficacy and safety profile."

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