EyePoint Pharmaceuticals ( NASDAQ: EYPT ) stock fell ~8% on Thursday after the company reported its Q4 results.
Net loss widened to -$43.45M, compared to -$19.43M in Q4 2021.
Meanwhile, total revenue in Q4 declined -8.7% Y/Y to $10.53M, but did manage to beat analysts expectations.
In Q4, net product sales fell -11.8% Y/Y to ~$9.86M.
The company said net product revenue for Yutiq grew +55% Y/Y to $9M in Q4.
Yutiq is an intravitreal implant to treat chronic non-infectious uveitis affecting the posterior segment of the eye.
Q4 revenue from License and collaboration agreements grew +24.7% Y/Y to $202K, while revenue from Royalty income increased +140.6% Y/Y to $474K.
Research and development expenses increased to $15.54M, compared to $8.92M in Q4 2021.
"We look forward to presenting preclinical data on the observed neuroprotective effect of vorolanib in a mouse model of retinal detachment at the upcoming 2023 ARVO Annual Meeting in April," said EyePoint CEO Nancy Lurker.
Outlook :
The company expects the cash , cash equivalents and investments on hand on Dec. 31, 2022 and expected net cash inflows from product sales will help to fund its operations into H2 2024.
For further details see:
EyePoint stock dips as Q4 net loss widens, revenue falls