EyePoint slides after unveiling $100 mln stock offering
Updates
** Shares of EyePoint Pharmaceuticals EYPT.O slide 8.5% to $11.09 after the bell
** EYPTunveils public offering of $100 mln worth of shares
** J.P. Morgan, Citigroup and Guggenheim Securities are the joint book running managers for the offering
** EYPT stock closed up 27.6% at $12.12 on Monday
** Co has 53.5 mln outstanding shares, giving it a $648.6 mln market capitalization - LSEG data
** Earlier in the day, EYPT saidits drug, Duravyu, showed an improvement in how well patients can see objects at a distance in a mid-stage trial testing it in diabetic macular edema (DME)
** EYPT plans on using the proceeds to advance the development of Duravyu as well as support its earlier stage pipeline development initiatives
** DME is an eye condition that causes blurry vision in people with diabetes
** EYPT expectsto report the full topline results in Q1 2025
** As of last close,EYPT stock down 47.6% YTD
Reporting by Puyaan Singh and Arasu Kannagi Basil in Bengaluru
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