Eyenovia rises on additional cost-cutting actions, delayed debt repayment
** Shares of drugmaker Eyenovia EYEN.O rise 6.1% to 11 cents premarket
** EYEN says it will take additional actions to reduce ongoing personnel-related costs by more than 70%
** Co adds investment firm Avenue Capital has agreed to restructure loan agreement and delay EYEN's debt repayments, including principal and interest, until February 2025
** As of Nov. 19, EYEN owed $10.1 million in principal and accrued interest under the agreement with Avenue Capital, according to a regulatory filing earlier this week
** EYEN had 57 full-time employees as of March 15, according to its latest annual report
** Co has been evaluating alternatives after its experimental drug-device combination for an eye disease failed in a late-stage study earlier this month
** As of last close, stock had fallen ~95% YTD
Reporting by Kamal Choudhury in Bangalore
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