WATERTOWN, Mass., Feb. 01, 2021 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced the pricing of an underwritten public offering of 9,100,000 shares of its common stock at a public offering price of $11.00 per share. The gross proceeds of the offering to the Company are expected to be $100.1 million, before deducting the underwriting discounts and commissions and other estimated offering expenses. In addition, EyePoint granted the underwriters a thirty-day option to purchase up to an additional 1,365,000 shares of common stock at the public offering price, less underwriting discounts and commissions.
The closing of the offering is expected to occur on or about February 4, 2021, subject to the satisfaction of customary closing conditions.
Cowen and Guggenheim Securities are acting as joint book-running managers for the offering.
EyePoint intends to use the net proceeds from the offering for the advancement of EYP-1901 for wet AMD, for pipeline and commercial programs, and for general corporate purposes.
The securities described above are being offered by the Company pursuant to a shelf registration statement on Form S-3 (No. 333-252170) previously filed with the Securities and Exchange Commission (SEC) on January 15, 2021 and declared effective by the SEC on January 25, 2021.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About EyePoint Pharmaceuticals, Inc.
EyePoint Pharmaceuticals, Inc. (Nasdaq:EYPT) is a pharmaceutical company committed to developing and commercializing innovative therapeutics to help improve the lives of patients with serious eye disorders. The Company's pipeline leverages its proprietary bioerodible Durasert® technology for extended intraocular drug delivery including EYP-1901, a potential twice-yearly sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. The Company has two commercial products: YUTIQ®, for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, and DEXYCU®, for the treatment of postoperative inflammation following ocular surgery. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts.
