WATERTOWN: EyePoint Pharmaceuticals, Inc. announced Monday it has commenced an underwritten public offering of $150 million of its common stock.
The biopharmaceutical company, which focuses on treatments for serious retinal diseases, stated that all shares in the offering are being sold by the company. EyePoint also plans to grant the underwriters a 30-day option to purchase up to an additional $22.5 million in shares.
According to a company release, the net proceeds from the offering will be used to advance the clinical development of its lead product candidate, DURAVYU™. The drug is being evaluated for wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME).
J.P. Morgan, Jefferies, Citigroup and Guggenheim Securities are acting as joint book-running managers for the offering.
The offering is subject to market conditions, and the company cautioned that there is no assurance it will be completed or regarding its final size or terms.
EyePoint is a clinical-stage company headquartered in Watertown, Massachusetts. Its lead product, DURAVYU, is an investigational sustained-delivery treatment currently in two Phase 3 pivotal trials for wet AMD, with data anticipated in mid-2026.