EyePoint Pharmaceuticals released their financial results for the fourth quarter of 2018.
Here are the key details to know:
1. Revenue for the fourth quarter totaled $715,000, compared to $701,000 from the prior year quarter.
2. EyePoint Pharmaceuticals' revenue for the year ending June 30, 2018 was $3 million compared to $7.5 million from the year prior. The previous year included deferred collaborative research and development revenue of $5.6 million from the termination of a Pfizer collaboration contract.
3. Net loss for the year was $53.2 million, or $1.15 per share. The net loss for the year prior was $18.5 million, or $0.52 per share.
4. Company milestones for the fourth quarter include the appointment of Göran Ando, MD, as the next chairman of the board and securing a transitional pass-through reimbursement from CMS for DEXYCU, a drug used to treat cataract surgery inflammation.
5. EyePoint Pharmaceuticals is also transitioning from a clinical-stage company into a commercial one ahead of future ophthalmic product launches.