EyePoint Pharmaceuticals, Inc.
- Open
- 14.80
- Day high
- 14.80
- Day low
- 13.89
- Prev close
- 14.84
- Volume
- 1.6M
- Mkt cap
- $1.2B
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 5.4
- P/S
- 162.1
- Yield
- —
- Per share
- —
- ▼Insiders net selling -$110K over the last 3 months (0 open-market buys, 3 sales)
- 🏛Institutions accumulating (13F)
EyePoint Pharmaceuticals, Inc. (EYPT) is a Healthcare company listed on NASDAQ. The stock is up 34% over the past year. Over the trailing 3 months, insiders filed 0 open-market buys and 3 sales (SEC Form 4).
EyePoint Pharmaceuticals, Inc. (EYPT) financials & analyst ratings
Fundamentals (TTM)
Analyst consensus · 4 analysts
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
EYPT earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 6, 2026 | $-0.79 | $-0.99 | -25.3% | $696000 | +97.3% |
| Mar 4, 2026 | $-0.78 | $-0.81 | -3.8% | $620000 | +72.6% |
| Nov 5, 2025 | $-0.77 | $-0.85 | -10.4% | $966000 | -4.0% |
| May 7, 2025 | $-0.65 | $-0.65 | +0.0% | $24M | +258.4% |
| Mar 5, 2025 | $-0.54 | $-0.64 | -18.5% | $12M | +41.5% |
| Nov 7, 2024 | $-0.48 | $-0.54 | -12.5% | $11M | -0.3% |
| Mar 7, 2024 | $-0.60 | $-0.33 | +45.0% | $14M | +57.6% |
| Nov 1, 2023 | $-0.62 | $-0.33 | +46.8% | $15M | +74.5% |
| Aug 2, 2023 | $0.41 | $-0.61 | -248.8% | $9M | -82.5% |
| May 3, 2023 | $-0.65 | $-0.56 | +13.8% | $8M | +3.4% |
| Mar 2, 2023 | $-0.63 | $-0.61 | +3.2% | $11M | +1.3% |
| Nov 2, 2022 | $-0.70 | $-0.49 | +30.0% | $10M | -8.4% |
EYPT insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Jul 2, 2026 | Ribeiro Ramiroofficer: Chief Medical Officer | Sell | 2,438 | $15.02 |
| Jul 2, 2026 | Ribeiro Ramiroofficer: Chief Medical Officer | Sell | 2,437 | $15.00 |
| Jul 2, 2026 | Ribeiro Ramiroofficer: Chief Medical Officer | Option | 2,437 | $8.26 |
| Jul 2, 2026 | Ribeiro Ramiroofficer: Chief Medical Officer | Option | 2,438 | $8.26 |
| May 27, 2026 | Elston Georgeofficer: Chief Financial Officer | Option | 7,500 | — |
| May 27, 2026 | Elston Georgeofficer: Chief Financial Officer | Tax | 3,627 | $12.93 |
| Apr 20, 2026 | Ribeiro Ramiroofficer: Chief Medical Officer | Option | 2,437 | $8.26 |
| Apr 20, 2026 | Ribeiro Ramiroofficer: Chief Medical Officer | Sell | 2,437 | $15.00 |
| Mar 16, 2026 | Duker Jay S.director, officer: President and CEO | Buy | 1,500 | $13.15 |
| Mar 5, 2026 | Ribeiro Ramiroofficer: Chief Medical Officer | Sell | 2,438 | $17.87 |
| Mar 5, 2026 | Ribeiro Ramiroofficer: Chief Medical Officer | Option | 2,438 | $8.26 |
| Feb 18, 2026 | Ribeiro Ramiroofficer: Chief Medical Officer | Option | 2,437 | $8.26 |
| Feb 18, 2026 | Ribeiro Ramiroofficer: Chief Medical Officer | Sell | 2,437 | $15.00 |
| Jan 7, 2026 | Elston Georgeofficer: Chief Financial Officer | Tax | 4,487 | $16.86 |
| Jan 7, 2026 | Elston Georgeofficer: Chief Financial Officer | Option | 15,285 | — |
Source: EYPT SEC Form 4 filings, latest Jul 2, 2026. For informational purposes only — not investment advice.
See the full EYPT insider & 13F page →EyePoint Pharmaceuticals, Inc. company profile
Overview
EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) is a specialized pharmaceutical company founded in 1987 and headquartered in Watertown, Massachusetts. Originally incorporated as pSivida Corp, the company rebranded to EyePoint Pharmaceuticals in March 2018 to better reflect its focus on ophthalmic treatments. The company has evolved from a diversified pharmaceutical entity into a clinical-stage biopharmaceutical company dedicated exclusively to developing and commercializing innovative treatments for serious eye diseases. EyePoint operates through strategic partnerships across the United States, China, and the United Kingdom, leveraging its proprietary sustained-release drug delivery technology to address unmet medical needs in ophthalmology.
Business
EyePoint Pharmaceuticals operates in the specialized field of ophthalmology, developing treatments for serious eye diseases that can cause vision loss or blindness. The company's core expertise lies in sustained-release drug delivery systems that can provide therapeutic benefits for extended periods, reducing the burden of frequent injections that patients typically face with conventional eye treatments. The company's business is built around three main areas. First, commercialized products generate immediate revenue through sales and royalty arrangements. These include ILUVIEN, an injectable micro-insert for diabetic macular edema (a condition where fluid accumulates in the retina due to diabetes complications); YUTIQ, an implant treating chronic non-infectious uveitis (inflammatory eye disease); and DEXYCU, a suspension for post-surgical eye inflammation including cataract surgery recovery. These established products represent approximately 2-3% of total revenue. Second, the company's pipeline development programs focus on next-generation treatments, particularly DURAVYU (formerly EYP-1901), which represents the vast majority of the company's value proposition. DURAVYU is designed to treat wet age-related macular degeneration (wet AMD), the leading cause of severe vision loss in people over 65, as well as diabetic retinopathy and diabetic macular edema. What makes DURAVYU potentially revolutionary is its six-month dosing interval compared to current treatments that require monthly or bi-monthly injections. Third, strategic partnerships and licensing arrangements provide the largest revenue stream, accounting for approximately 97-98% of total revenues. These collaborations with companies like Alimera Sciences, Bausch & Lomb, and Ocumension Therapeutics generate milestone payments, royalties, and development funding. The company's proprietary Durasert technology platform, which enables sustained drug release, serves as the foundation for these partnerships and provides a scalable business model for expanding into new therapeutic areas.
Revenue model
EyePoint generates revenue through multiple complementary streams that leverage its sustained-release drug delivery expertise. The primary revenue source comes from royalties and collaboration agreements, which contributed $23.7 million of the company's $24.5 million total revenue in Q1 2025. These partnerships typically involve upfront payments, development milestones, and ongoing royalties from commercialized products, providing a capital-efficient model for monetizing the company's technology platform. Direct product sales contribute a smaller portion, with net product revenue of approximately $0.7-0.8 million quarterly from the company's commercialized treatments. The paying customers include healthcare providers, hospitals, and specialty pharmacies that serve patients with serious eye conditions. While this direct sales component is currently modest, it demonstrates the company's ability to commercialize products independently. The company's margin profile is significantly influenced by several key factors. Positive margin drivers include the scalability of its Durasert technology platform, which can be applied across multiple therapeutic areas without proportional increases in development costs. The sustained-release mechanism also creates potential for premium pricing due to reduced treatment burden compared to frequent injection therapies. Additionally, the company's partnerships provide high-margin royalty income with minimal ongoing operational costs. Margin pressures primarily stem from the capital-intensive nature of clinical development, particularly the ongoing Phase 3 trials for DURAVYU that require substantial investment before generating returns. Regulatory risks in drug development can lead to costly delays or failures. The competitive landscape in ophthalmology, including the potential for biosimilar competition to existing treatments, could impact pricing power. Manufacturing scale-up costs for the company's new Northbridge facility also represent near-term margin headwinds, though this investment positions the company for future manufacturing independence and cost control.
Competitive moat
EyePoint's competitive moat centers on its proprietary Durasert sustained-release technology platform, which provides a meaningful but not insurmountable competitive advantage. The company's technology enables drug delivery over extended periods (six to nine months) compared to current standard-of-care treatments that require monthly or bi-monthly injections. This represents a significant improvement in patient convenience and compliance, particularly important in treating chronic eye diseases where treatment burden often leads to suboptimal outcomes. The strength of this moat is moderate but defensible. The company has built substantial intellectual property around its delivery system and has demonstrated the technology's versatility across multiple therapeutic areas and drug compounds. The manufacturing complexity and regulatory expertise required to develop similar sustained-release systems create meaningful barriers for new entrants. Additionally, EyePoint's clinical development experience and established relationships with ophthalmologists provide some competitive insulation. However, the moat faces several potential challenges. Large pharmaceutical companies with greater resources could develop competing sustained-release technologies or acquire smaller companies with similar capabilities. The ophthalmology field attracts significant investment from major players like Roche/Genentech, Novartis, and Bayer, who have the resources to pursue alternative approaches. Technological disruption could come from entirely different delivery mechanisms, such as gene therapy approaches that provide even longer-lasting effects, or novel drug formulations that extend duration without requiring implantable devices. The company's moat is also dependent on successful clinical outcomes. If DURAVYU fails in Phase 3 trials, the competitive advantage of the delivery platform becomes significantly less valuable. Additionally, as patents expire over time, the technological moat will naturally erode unless the company continues to innovate and develop next-generation delivery systems.
Risks & safety
EyePoint demonstrates a relatively strong financial safety profile for a clinical-stage biotechnology company, though typical biotech risks remain present. • Cash position and runway: Strong liquidity with $318.2 million in cash and investments as of Q1 2025, providing runway into 2027 based on current burn rates • Debt levels: Minimal debt burden with debt-to-equity ratio of 0.08, indicating low financial leverage and reduced solvency risk • Current operations: Quarterly cash burn of approximately $53 million in Q1 2025, primarily driven by Phase 3 clinical trial expenses • Working capital: Excellent current ratio of 7.8, demonstrating strong short-term liquidity management • Valuation considerations: Trading at negative P/E due to development-stage losses, but Graham net-net ratio of 3.7 suggests potential asset-based value • Revenue visibility: Limited near-term revenue predictability due to dependence on partnership milestones and clinical trial outcomes • Clinical risk: Primary value driver (DURAVYU) dependent on successful Phase 3 trial completion expected in 2026, representing significant binary risk • Market position: Established partnerships and commercialized products provide some downside protection, though minimal compared to pipeline value The margin of safety is moderate, supported by strong balance sheet fundamentals but tempered by the inherent risks of clinical-stage drug development and concentrated pipeline exposure.
Recent development
Over the past few years, EyePoint has executed a strategic transformation from a diversified pharmaceutical company to a focused clinical-stage biopharmaceutical entity specializing in sustained-release ophthalmology treatments. The most significant strategic move was the divestiture of the YUTIQ franchise for $82.5 million plus ongoing royalties, which provided capital to fund the company's pipeline development while maintaining revenue participation in the commercialized asset. The company's primary focus has shifted to advancing DURAVYU through Phase 3 development, with two pivotal trials (LUGANO and LUCIA) for wet age-related macular degeneration showing enrollment ahead of expectations. Management reports over 90% patient randomization in the LUGANO trial and over 50% in the LUCIA trial, with enrollment completion targeted for the second half of 2025 and top-line data expected in the second half of 2026. Additionally, the company is advancing DURAVYU in diabetic macular edema following positive Phase 2 VERONA trial results, with plans for an end-of-Phase 2 FDA meeting in summer 2025. A critical operational development has been the establishment of manufacturing independence through the completion of a state-of-the-art 41,000 square foot GMP-compliant manufacturing facility in Northbridge, Massachusetts. This facility provides capacity to produce over one million DURAVYU treatments annually and includes U.S.-based API manufacturing to mitigate potential tariff impacts. The facility represents a strategic shift from contract manufacturing to internal production capabilities, positioning the company for commercial readiness and cost control. The company has also expanded its pipeline through strategic collaborations, including a research partnership with Rallybio to evaluate complement inhibitors using the Durasert technology platform, demonstrating the versatility and licensing potential of their core delivery system beyond their proprietary compounds.
EYPT company profile · for informational purposes only — not investment advice.
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