COVID-19's Timing Could Not Have Been Worse For EyePoint Pharmaceuticals [Seeking Alpha]
EyePoint Pharmaceuticals, Inc. (EYPT)
Last eyepoint pharmaceuticals, inc. earnings: 3/5 07:00 am
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Source: Seeking Alpha
SummaryBefore COVID-19, EYPT's revenues were surging quarter over quarter since its Q12019 launch and consensus FY2020 and FY2021 revenue estimates were, per , $51MM and $153MM, respectively.COVID-19 stopped elective surgeries which dramatically slowed/stopped ~65% of EYPT's customer operations and, like numerous peers just launching new products, put an enormous strain on EYPT's business plan and liquidity.At $0.88/share, EYPT's market cap is $110MM ($135MM enterprise valuation) versus a 10/2019 $300MM market cap and less than consensus FY2021 revenue estimates of $153MM just 4 months ago.EYPT's loan agreement (12.5% $50MM outstanding) includes a $45MM FY2020 revenue covenant that now appears at great risk of default. Simply put, COVID-19's timing could not have been worse.With $23.2MM net cash at 3/31/2020 and 4/2020 re-organization, EYPT says it has enough cash to last "into FY2021." Our analysis concludes EYPT's liquidity will be "on-fumes" at year-end.EyePoint Pharmaceuticals, In
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EYPT
News
- EyePoint Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)GlobeNewswire
- EyePoint Pharmaceuticals Expands Scientific Advisory Board with World-Renowned Retina Specialists [Yahoo! Finance]Yahoo! Finance
- EyePoint Pharmaceuticals Expands Scientific Advisory Board with World-Renowned Retina SpecialistsGlobeNewswire
- EyePoint Pharmaceuticals Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4)GlobeNewswire
- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT) Analysts Just Slashed This Year's Revenue Estimates By 22% [Yahoo! Finance]Yahoo! Finance
EYPT
Earnings
- 3/7/24 - Beat
EYPT
Sec Filings
- 4/22/24 - Form 3
- 4/22/24 - Form 4
- 4/2/24 - Form 4
- EYPT's page on the SEC website