EyePoint, Inc. Q4 FY2024 earnings call

• Jay Duker discussed corporate updates, including advancement of DURAVYU into Phase 3 trials in wet AMD, positive Phase 2 results in DME (VERONA trial), DURAVYU's technology (Durasert E, zero-order kinetics, TKI mechanism), and strong safety profile. - George Elston reviewed financial results, noting net revenue, product revenue, operating expenses, and cash position, with focus on DURAVYU program for clinical trials and NDA filing.

For the quarter ended December 31, 2024, total net revenue was $11.6 million compared to $14 million for the quarter ended December 31, 2023. Net product revenue for the quarter ended December 31, 2024, was $0.8 million compared to $0.7 million in the prior year quarter. For the full year ended December 31, 2024, total net revenue was $43.3 million compared to $46 million in the prior year. Net product revenue for the full year 2024 was $3.2 million vs $14.2 million in 2023. Royalty and collaboration revenue for Q4 2024 was $10.8 million vs $13.3 million in 2023 prior year quarter. Full year 2024 royalty and collaboration revenue was $40.1 million vs $31.8 million in 2023.

• Enrollment completion in Phase 3 wet AMD trials (LUGANO and Lucia) expected in second half of 2025, top-line data in 2026. - Plan to hold end-of-Phase 2 meeting with FDA for DME pivotal trial design in Q2 2025. - Cash position of $371 million to fund operations into 2027 and beyond, with no plans to access equity markets in 2025.

• Forward-looking statements may differ materially from actual results due to factors in the risk factors section of Form 10-K and other SEC filings.

Q: For your wet AMD pivotal program, how many clinical sites have been activated across the trials?

A: Most sites already activated in US, with ex-U.S. planning 60-80 sites per study.

Q: Comment on the analysis of supplement-free patients in DME Phase 2 data?

A: Dose response between 2.7 mg and 1.3 mg doses, with 2.7 mg showing strong separation.

Q: Characterization of patients in wet AMD trials?

A: Majority are treatment-naive patients, capping previously treated at ~25%.

Q: Plans for Phase 3 DME trial?

A: Aiming to get regulatory feedback on study design in 2Q 2025.

Q: Manufacturing progress of Northbridge facility?

A: Facility online, registration batch manufacturing underway for NDA filing.

Q: Cash runway and razuprotafib program?

A: Cash runway into 2027, razuprotafib preclinical activities ongoing but lower priority.

Q: First to market positioning for DURAVYU?

A: Confident in being first to market based on enrollment rates.

Q: Patient subgroup analysis in DME?

A: Small sample size in past, larger data needed in Phase 3.

Q: Phase 3 DME trial initiation and partnership?

A: No plans to initiate in 2025, open to partnerships but larger in scope.