EyePoint Pharmaceuticals Reports 109% Revenue Growth but Increases Net Loss to $45.2 Million

EyePoint Pharmaceuticals, Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending March 31, 2025. The company generated total revenues of $24.5 million, a substantial increase of 109% compared to $11.7 million in the same period last year. This growth was primarily driven by a notable rise in royalty income, which surged to $12.7 million from just $463,000 in the prior year, reflecting the recognition of deferred royalty revenue following ANI's buyout of its royalty obligation to SWK. Product sales remained relatively stable, with net sales of $715,000 for YUTIQ® and DEXYCU®.

Despite the increase in revenues, EyePoint reported a net loss of $45.2 million for the first quarter of 2025, compared to a loss of $29.3 million in the same quarter of 2024, marking a 54% increase in losses. The company's operating expenses rose significantly to $73.3 million, up from $45 million a year earlier, largely due to a 94% increase in research and development costs, which reached $58.6 million. This increase was attributed to ongoing clinical trials for the company's lead product candidate, DURAVYU™, which is currently in Phase 3 trials for wet age-related macular degeneration.

In terms of strategic developments, EyePoint has made notable progress in its clinical pipeline. The company is focused on completing patient enrollment in the LUGANO and LUCIA trials for DURAVYU™ in the second half of 2025, with top-line data expected in 2026. Additionally, the company has expanded its operational footprint, including a lease agreement for a new commercial manufacturing facility in Northbridge, Massachusetts, which is compliant with regulatory standards to support clinical supply and commercial readiness.

As of March 31, 2025, EyePoint had cash, cash equivalents, and marketable securities totaling $318.2 million, which the company believes will fund its operations into 2027. The company continues to face challenges, including a history of operating losses and the need for additional capital to support ongoing research and development efforts. EyePoint's management anticipates that it will continue to incur significant losses as it advances its product candidates and seeks regulatory approvals. The company is actively exploring various funding options, including potential collaborations and equity raises, to sustain its operations and support its growth initiatives.