EyePoint Pharmaceuticals granted stock options to new employees as inducement awards totaling 30,300 shares, effective January 15, 2025.
Quiver AI Summary
EyePoint Pharmaceuticals, Inc. announced the granting of non-statutory stock options as inducement awards to four new employees, totaling options to purchase 30,300 shares of common stock. This action complies with NASDAQ Listing Rule 5635(c)(4) and follows approval by the Compensation Committee. The stock options, which were issued on January 15, 2025, have an exercise price of $7.69 per share and a ten-year term, vesting over four years contingent on the employees' continued service. EyePoint is focused on developing therapeutics for serious retinal diseases, with its lead product, DURAVYU, currently in pivotal clinical trials for treating wet AMD and DME. The company anticipated releasing clinical trial data in 2025 and 2026.
Potential Positives
- EyePoint Pharmaceuticals granted non-statutory stock options to four new employees, indicating growth and the ability to attract talent.
- The stock options have an exercise price set at the closing price of the company’s stock, which can align employee interests with shareholder value.
- These inducement stock options are compliant with NASDAQ Listing Rule 5635(c)(4), reflecting the company's adherence to regulatory standards.
- EyePoint's lead product candidate, DURAVYU™, is currently in pivotal Phase 3 clinical trials, showcasing its ongoing commitment to developing innovative therapeutics for retinal diseases.
Potential Negatives
- The granting of stock options as inducement awards may indicate challenges in attracting new talent, suggesting a potential lack of competitive appeal in the job market.
- The conditional acceptance of the proprietary name DURAVYU™ and the fact that it is still an investigational product not yet approved by the FDA highlight uncertainty in the company’s product pipeline and regulatory challenges.
- The prolonged timeline for obtaining FDA approval for its lead product candidate, with key data expectations extending into 2026, may raise concerns about the company’s short-term growth prospects and market confidence.
FAQ
What stock options did EyePoint Pharmaceuticals grant recently?
EyePoint Pharmaceuticals granted non-statutory stock options for 30,300 shares to four new employees as inducement awards.
When were the stock options granted?
The stock options were granted on January 15, 2025.
What is the exercise price of the stock options?
The exercise price for the stock options is $7.69 per share.
How do the stock options vest?
The options vest over four years, with 25% vesting annually and the remainder in monthly installments.
What is DURAVYU and its current status?
DURAVYU is EyePoint's investigational drug for retinal diseases, currently in Phase 3 clinical trials for wet AMD.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$EYPT Insider Trading Activity
$EYPT insiders have traded $EYPT stock on the open market 4 times in the past 6 months. Of those trades, 4 have been purchases and 0 have been sales.
Here’s a breakdown of recent trading of $EYPT stock by insiders over the last 6 months:
- KAREN L. ZADEREJ purchased 12,500 shares for an estimated $99,750
- GORAN ANDO purchased 5,000 shares for an estimated $39,750
- NANCY LURKER purchased 3,173 shares for an estimated $25,003
- WENDY F DICICCO purchased 2,567 shares for an estimated $19,996
To track insider transactions, check out Quiver Quantitative's insider trading dashboard.
$EYPT Hedge Fund Activity
We have seen 69 institutional investors add shares of $EYPT stock to their portfolio, and 78 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- FEDERATED HERMES, INC. added 1,633,468 shares (+562.9%) to their portfolio in Q3 2024, for an estimated $13,051,409
- PATIENT SQUARE CAPITAL LP added 1,361,979 shares (+inf%) to their portfolio in Q3 2024, for an estimated $10,882,212
- 5AM VENTURE MANAGEMENT, LLC added 1,000,000 shares (+2000.0%) to their portfolio in Q3 2024, for an estimated $7,990,000
- AMERIPRISE FINANCIAL INC removed 897,032 shares (-97.3%) from their portfolio in Q3 2024, for an estimated $7,167,285
- DEERFIELD MANAGEMENT COMPANY, L.P. (SERIES C) removed 877,790 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $7,013,542
- T. ROWE PRICE INVESTMENT MANAGEMENT, INC. removed 802,809 shares (-38.8%) from their portfolio in Q3 2024, for an estimated $6,414,443
- FIERA CAPITAL CORP removed 677,038 shares (-100.0%) from their portfolio in Q3 2024, for an estimated $5,409,533
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
WATERTOWN, Mass., Jan. 16, 2025 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a company committed to developing and commercializing therapeutics to help improve the lives of patients with serious retinal diseases, today announced that the Company granted non-statutory stock options to new employees as inducement awards outside the Company’s 2023 Long-Term Incentive Plan in accordance with NASDAQ Listing Rule 5635(c)(4).
The Company granted stock options to purchase up to an aggregate of 30,300 shares of EyePoint Pharmaceuticals common stock to four new employees. The stock options were granted on January 15, 2025. The grants were approved by the Compensation Committee and made as an inducement material to each employee entering into employment with EyePoint Pharmaceuticals in accordance with NASDAQ Listing Rule 5635(c)(4). The option awards have an exercise price of $7.69 per share, the closing price of EyePoint Pharmaceuticals’ common stock on January 15, 2025. The options have a ten-year term and vest over four years, with 25% of the original number of shares vesting on the first anniversary of the applicable employee’s date of grant and the remainder vesting in equal monthly installments over the following three years. Vesting of the options is subject to the employee’s continued service with EyePoint Pharmaceuticals through the applicable vesting dates.
About EyePoint Pharmaceuticals
EyePoint Pharmaceuticals (Nasdaq: EYPT) is a clinical-stage biopharmaceutical company committed to developing and commercializing innovative therapeutics to help improve the lives of patients with serious retinal diseases. The Company's pipeline leverages its proprietary bioerodible Durasert E™ technology for sustained intraocular drug delivery. The Company’s lead product candidate, DURAVYU™ (f/k/a EYP-1901), is an investigational sustained delivery treatment for VEGF-mediated retinal diseases combining vorolanib, a selective and patent-protected tyrosine kinase inhibitor with bioerodible Durasert E™. DURAVYU is presently in Phase 3 global, pivotal clinical trials as a sustained delivery treatment for wet AMD, the leading cause of vision loss among people 50 years of age and older in the United States, and in a Phase 2 clinical trial in DME. EyePoint expects full topline data from the Phase 2 clinical trial in DME in Q1 2025 and topline data from both Phase 3 pivotal trials in wet AMD in 2026.
Pipeline programs include EYP-2301, a TIE-2 agonist, razuprotafib, formulated in Durasert E™ to potentially improve outcomes in serious retinal diseases. The proven Durasert® drug delivery technology has been safely administered to thousands of patient eyes across four U.S. FDA approved products. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts.
Vorolanib is licensed to EyePoint exclusively by Equinox Sciences, a Betta Pharmaceuticals affiliate, for the localized treatment of all ophthalmic diseases outside of China, Macao, Hong Kong and Taiwan.
DURAVYU™ has been conditionally accepted by the FDA as the proprietary name for EYP-1901. DURAVYU is an investigational product; it has not been approved by the FDA. FDA approval and the timeline for potential approval is uncertain.
For EyePoint Pharmaceuticals:
Investors:
Christina Tartaglia
Precision AQ
Direct: 212-698-8700
christina.tartaglia@precisionaq.com
Media Contact:
Amy Phillips
Green Room Communications
Direct: 412-327-9499
aphillips@greenroompr.com
This article was originally published on Quiver News, read the full story.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
