EyePoint Pharmaceuticals reported Q2 2024 total revenues of $9.5 million, a 4% increase year-over-year, driven by $7.8 million in license and collaboration revenue. Product sales declined to $1.1 million from $5.3 million last year following the Alimera YUTIQ licensing agreement. Net loss widened to $30.8 million from $22.9 million in Q2 2023.Research and development expenses increased 90% to $29.8 million, reflecting a $5 million milestone payment for Phase 2 trial completion and increased clinical development activities for DURAVYU. The company maintained a strong balance sheet with $280.2 million in cash and investments as of June 30, 2024, expected to fund operations through Phase 3 wet AMD topline data in 2026.The company received an FDA Warning Letter in July 2024 regarding YUTIQ manufacturing at its Watertown facility, requiring implementation of additional control procedures. Management believes YUTIQ supply should not be materially interrupted and other products in development, including DURAVYU, are not impacted. The company completed enrollment in the Phase 2 VERONA trial for diabetic macular edema and aligned with FDA on Phase 3 trials for wet AMD.

EyePoint Pharmaceuticals reported Q2 2024 total revenues of $9.5 million, a 4% increase year-over-year, driven by $7.8 million in license and collaboration revenue. Product sales declined to $1.1 million from $5.3 million last year following the Alimera YUTIQ licensing agreement. Net loss widened to $30.8 million from $22.9 million in Q2 2023.Research and development expenses increased 90% to $29.8 million, reflecting a $5 million milestone payment for Phase 2 trial completion and increased clinical development activities for DURAVYU. The company maintained a strong balance sheet with $280.2 million in cash and investments as of June 30, 2024, expected to fund operations through Phase 3 wet AMD topline data in 2026.The company received an FDA Warning Letter in July 2024 regarding YUTIQ manufacturing at its Watertown facility, requiring implementation of additional control procedures. Management believes YUTIQ supply should not be materially interrupted and other products in development, including DURAVYU, are not impacted. The company completed enrollment in the Phase 2 VERONA trial for diabetic macular edema and aligned with FDA on Phase 3 trials for wet AMD.