Core Viewpoint - Eyenovia, Inc. has announced a 1-for-80 reverse stock split to regain compliance with Nasdaq's minimum bid price requirement while evaluating strategic alternatives [1][2]. Group 1: Reverse Stock Split Details - The reverse stock split will reduce the number of outstanding shares from approximately 167.5 million to about 2.1 million [2]. - Fractional shares will not be issued; stockholders entitled to fractional shares will receive cash payments instead [2]. - The reverse stock split will not affect stockholders' percentage ownership interests, except for cash payments for fractional shares [2]. Group 2: Company Overview - Eyenovia, Inc. focuses on developing the Optejet topical ophthalmic medication dispensing platform, which aims to improve treatment options for chronic front-of-the-eye diseases [3].

Core Viewpoint - Eyenovia, Inc. is seeking stockholder approval for a reverse stock split to comply with Nasdaq's Minimum Bid Price Requirement, with recommendations from leading proxy advisory firms ISS and Glass Lewis to vote "FOR" the proposal [1][2]. Meeting Details - The 2025 Special Meeting of Stockholders is scheduled for January 21, 2025, at 10:00 a.m. ET, and stockholders must pre-register by January 20, 2025, at 11:59 p.m. ET [3]. - Stockholders of record as of December 9, 2024, are eligible to vote [3]. Proposed Items for Vote - The reverse stock split will be considered among four proposed items at the Special Meeting, including: 1. Approval of a reverse stock split at a ratio of between 1:40 and 1:80 [7]. 2. Amendment to the 2018 Omnibus Stock Incentive Plan to reserve an additional 350,000 shares [7]. 3. Approval for potential issuance of up to 73,029,273 shares upon the exercise of certain outstanding warrants [7]. 4. Authorization for adjournment of the Special Meeting if necessary [7]. Company Overview - Eyenovia, Inc. is an ophthalmic technology company developing the Optejet platform for topical ophthalmic medication, aimed at improving treatment compliance for ocular lubrication and chronic front-of-the-eye diseases [5].

Reverse Stock Split Proposal - The company is proposing a reverse stock split at a ratio between 1:40 and 1:80 to regain compliance with Nasdaq's Minimum Bid Price Requirement [1][6] - The reverse stock split aims to maintain the company's Nasdaq Capital Market listing, which provides increased visibility, stock liquidity, and access to capital [1] - Two leading proxy advisory firms, ISS and Glass Lewis, have recommended that stockholders vote in favor of the reverse stock split [6] Special Meeting Details - The Special Meeting will be held virtually on January 21, 2025, at 10:00 a.m. Eastern Time [7] - Stockholders must pre-register by January 20, 2025, at 11:59 p.m. Eastern Time to attend the meeting [7] - Stockholders of record as of December 9, 2024, are eligible to vote [7] Additional Proposals - Proposal to amend the 2018 Omnibus Stock Incentive Plan to reserve an additional 350,000 shares of common stock [9] - Proposal to approve the potential issuance of up to 73,029,273 shares upon the exercise of certain outstanding warrants [9] - Proposal to authorize an adjournment of the Special Meeting if necessary to solicit additional proxies [9] Company Overview - Eyenovia is an ophthalmic technology company developing the Optejet topical ophthalmic medication dispensing platform [8] - The Optejet platform targets both home use for ocular lubrication and chronic front-of-the-eye diseases [8] - The platform offers ease of use, enhanced safety and tolerability, and potential for improved treatment compliance [8]

Core Viewpoint - Eyenovia, Inc. is focused on completing the development of its Gen-2 user-filled Optejet device by the third quarter of 2025 while aiming to reduce spending by over 60% [1] Strategic Alternatives - The company has engaged Chardan as its financial advisor to evaluate a range of strategic alternatives, including business combinations, sales, reverse mergers, asset sales, or a combination of these options [1][2] - Eyenovia has not set a timetable for the conclusion of its strategic review and has not made any decisions regarding specific alternatives at this time [3] Product Development - Eyenovia continues to progress the development of its Optejet device, exploring its use as both a consumer user-filled product and a proprietary drug-device combination [2] - The user-filled product could advance through a regulatory pathway without the need for clinical trials and may be commercially available by the end of this year [2] Company Overview - Eyenovia, Inc. specializes in developing its proprietary Optejet topical ophthalmic medication dispensing platform, which is designed to improve treatment options for chronic front-of-the-eye diseases [5]

Core Viewpoint - Eyenovia, Inc. is undergoing restructuring efforts, including deferring debt payments and reducing personnel costs significantly to explore strategic alternatives for maximizing stakeholder value [1][2]. Group 1: Debt Restructuring - Avenue Capital Management has agreed to defer principal and interest payments on Eyenovia's outstanding debt until the end of February 2025 [1]. - The company is taking actions to reduce ongoing personnel-related costs by over 70% [1]. Group 2: Strategic Alternatives - Eyenovia is evaluating a broad range of strategic alternatives, which may include business combinations, reverse mergers, or asset sales [2]. - The CEO expressed gratitude for Avenue Capital's support and emphasized the need for immediate cost restructuring to extend the company's operational runway [2]. Group 3: Company Overview - Eyenovia, Inc. is focused on developing and commercializing ophthalmic products using its proprietary Optejet platform, targeting chronic front-of-the-eye diseases [3]. - The current commercial portfolio includes products for post-surgical pain and inflammation, as well as mydriasis, with potential for additional multi-billion-dollar indications [3].

Core Viewpoint - Eyenovia, Inc. has decided to terminate the phase III study of its investigational drug-device product, MicroPine, for pediatric progressive myopia after an independent Data Review Committee concluded it was unlikely to meet its primary endpoint [1][2][4]. Company Developments - The Data Review Committee evaluated safety and efficacy data from 252 patients and found no significant difference in myopia progression between treatment groups and placebo [3]. - Following the DRC's feedback, Eyenovia is conducting a thorough review of the study data to determine next steps [4]. - The company's stock plummeted 70% after the announcement, with a year-to-date decline of 95.1%, compared to the industry's 10.5% decline [4]. Marketed Portfolio - Eyenovia currently has two FDA-approved products: Mydcombi and clobetasol propionate, which are yet to gain significant market traction [5]. - Mydcombi was approved in May 2023 and launched in August 2023, while clobetasol propionate received FDA approval in March 2024 and was launched in Q3 2024 [6]. Clinical Pipeline - Besides MicroPine, Eyenovia has other candidates in mid-stage development targeting various dry eye indications [7]. Strategic Options - The company is exploring ways to maximize stakeholder value, which may include cost-cutting measures, business combinations, reverse mergers, or asset sales [4].

On Friday, Eyenovia, Inc. EYEN stock is trading lower after an update from the Phase 3 CHAPERONE study evaluating its proprietary drug-device combination of low-dose atropine in the company’s Optejet dispensing platform pediatric progressive myopia.Progressive myopia is a type of nearsightedness that worsens over time due to the eyeball growing too long.The company said that an independent Data Review Committee (DRC) reviewed the CHAPERONE data and found that the trial is not meeting its primary endpoint of ...

A review of study data by an independent Data Review Committee found that CHAPERONE is not meeting its primary three-year efficacy endpoint Company to discontinue study, review full data set, and evaluate next steps for the program NEW YORK, Nov. 15, 2024 (GLOBE NEWSWIRE) -- Eyenovia, Inc. (NASDAQ: EYEN), an ophthalmic technology company, today announced that a review of the CHAPERONE data by an independent Data Review Committee (DRC) found that the trial is not meeting its primary endpoint of a less than 0 ...

Eyenovia, Inc. (NASDAQ:EYEN) Q3 2024 Earnings Conference Call November 12, 2024 4:30 PM ET Company Participants Eric Ribner - IR Michael Rowe - CEO Bren Kern - COO Andy Jones - CFO Conference Call Participants Matthew Caufield - H.C. Wainwright Matt Kaplan - Ladenburg Thalmann Lachlan Hanbury-Brown - William Blair Kemp Dolliver - Brookline Capital Markets Len Yaffe - Stoc Doc Partners Operator Greetings and welcome to Eyenovia's Third Quarter 2024 Earnings Call. At this time, all participants are in a liste ...

Eyenovia, Inc. (EYEN) came out with a quarterly loss of $0.11 per share versus the Zacks Consensus Estimate of a loss of $0.13. This compares to loss of $0.18 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 15.38%. A quarter ago, it was expected that this company would post a loss of $0.17 per share when it actually produced a loss of $0.18, delivering a surprise of -5.88%.Over the last four quarters, the company has surpassed ...