Eyenovia Provides Update on Restructuring Efforts

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].