EyePoint Pharmaceuticals Reports Revenue Decline and Increased Losses in Q2 2025

EyePoint Pharmaceuticals, Inc. reported its financial results for the second quarter and first half of 2025, revealing a significant decline in revenue and an increase in operating losses compared to the same period in 2024. For the three months ended June 30, 2025, the company generated total revenues of $5.3 million, a decrease of 44% from $9.5 million in the prior year. The decline was primarily attributed to a 100% drop in product sales, which fell to zero from $1.1 million, and a 31% decrease in license and collaboration agreements revenue, which totaled $5.3 million. The net loss for the quarter was $59.4 million, or $0.85 per share, compared to a net loss of $30.8 million, or $0.58 per share, in the same quarter last year.

In the first half of 2025, EyePoint's total revenues increased by 41% to $29.8 million, up from $21.2 million in the first half of 2024. This growth was driven by a substantial rise in royalty income, which surged to $12.7 million from $1.1 million, largely due to the recognition of deferred revenue following a royalty buyout agreement. However, the company also reported a significant increase in operating expenses, which rose by 58% to $140.9 million, primarily due to a substantial increase in research and development costs associated with ongoing clinical trials for its lead product candidate, DURAVYU™.

The company’s research and development expenses for the second quarter reached $55.5 million, an 86% increase from $29.8 million in the prior year, reflecting heightened investment in the Phase 3 clinical trials for DURAVYU™. General and administrative expenses decreased slightly to $11.9 million from $12.8 million, while sales and marketing expenses remained relatively stable. The total operating loss for the first half of 2025 was $111.1 million, compared to a loss of $67.9 million in the same period of 2024.

As of June 30, 2025, EyePoint had cash, cash equivalents, and marketable securities totaling $255.7 million, a decrease from $418.5 million at the end of 2024. The company’s accumulated deficit increased to $977.6 million, reflecting its ongoing investment in research and development and the absence of significant recurring cash inflows from revenue. EyePoint anticipates that its current cash reserves will support operations for at least the next twelve months, although it expects to continue incurring substantial operating losses as it advances its clinical programs.

Looking ahead, EyePoint is focused on completing patient enrollment in the LUCIA clinical trial for DURAVYU™ and aims to report top-line data for both the LUGANO and LUCIA trials in the second half of 2026. The company is also preparing for a pivotal program for DURAVYU™ in diabetic macular edema, with an anticipated start in 2026 following a positive End-of-Phase 2 meeting with the FDA. Despite the challenges, EyePoint remains committed to its strategic initiatives and the development of innovative therapies for retinal diseases.