Here’s what you should know:
1. The company received stockholder approval for the second tranche of growth capital under a Securities Purchase Agreement with Essex Woodland Healthcare Partners, Rosalind Advisors and another accredited investor.
2. Each unit for sale includes of one share of the company’s common stock and one warrant to buy a share of common stock.
3. Upon closing, EyePoint will have $35 million in total gross proceeds, building on $9.5 million in equity financing from EW Healthcare Partners in March. The total gross proceeds could reach $60.5 million with full exercise of the warrants.
4. Through an existing credit agreement with SWK Funding, EyePoint expects an additional $5 million. This would increase the balance of the senior secured term loan to $20 million.
5. The financing will support EyePoint’s planned launch of Dexycu and Yutiq in the first half of 2019. Dexycu is a single-dose intraocular product for treating postoperative inflammation. Yutiq is intended for treatment of non-infectious uveitis affecting the eye’s posterior segment. It is under standard review with a Nov. 5 approval deadline.
More articles on supply chain:
Researchers complete 1st successful robotic eye surgery test on humans: 5 insights
McKesson acquires Medical Specialties Distributors for $800M — 3 notes
Intuitive Surgical earns FDA nod for single-port platform — 5 quick facts
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.