Stock Track | EyePoint Plummets 5.77% Intraday After Q4 Earnings Miss Estimates

Stock Track03-04 22:48

EyePoint Pharmaceuticals (EYPT) shares plummeted 5.77% during intraday trading on Wednesday following the release of its fourth-quarter financial results.

The biopharmaceutical company reported a Q4 net loss of $0.81 per share, which missed analyst consensus estimates that ranged from a loss of $0.73 to $0.77 per share. This represents a widening loss compared to the $0.64 per share loss reported in the same quarter last year.

Revenue for the quarter fell sharply to $620,000, a 94.6% year-over-year decline and significantly below the $1.01 million consensus estimate. The company attributed increased operating expenses to ongoing Phase 3 clinical trials for its DURAVYU treatment in wet age-related macular degeneration and diabetic macular edema.

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