Eyenovia Inc (NASDAQ: EYEN) reported Q4 EPS of ($0.31), $0.02 better than the analyst estimate of ($0.33).

Fourth Quarter 2019 and Recent Business Highlights

• Advanced MicroLine for the improvement in near vision in patients with presbyopia towards Phase III development;
• Deferred development activities for the MicroProst (glaucoma and ocular hypertension) and MicroTears (red eye and itch relief/lubrication) programs;
• Expanded Scientific Advisory Board with the addition of Mark Bullimore, PhD and April Jasper, OD; and
• Successfully completed a private placement of units comprised of common stock and warrants with aggregate net proceeds to the Company of approximately $5.3 million in March 2020.

“2019 was a very successful year for Eyenovia, as we made significant advancements in our late stage ophthalmology pipeline that continued to validate our high precision microdosing platform,” commented Dr. Sean Ianchulev, Eyenovia’s Chief Executive Officer and Chief Medical Officer. “We completed our MicroStat Phase III MIST-1 and MIST-2 studies for pharmacologic mydriasis, which support our novel approach to treating front and back of the eye conditions. These results also paved the way for the initiation of our MicroPine Phase III CHAPERONE study for progressive myopia, which is currently enrolling subjects. In 2019, we also reprioritized our pipeline to focus on our highest value opportunities and introduced our Phase III ready MicroLine program for presbyopia. We believe that we could transform the primarily device-based treatment paradigm for an estimated 43 million people in the United States with a cash-pay prescription therapy with our proprietary microdose formulation of pilocarpine. With a bolstered balance sheet, we have anticipated milestones in our Phase III programs for presbyopia and myopia, as well as the planned MicroStat NDA this year, although we are closely monitoring the evolving situation of the COVID-19 pandemic and its potential impact on our business.”

For earnings history and earnings-related data on Eyenovia Inc (EYEN) click here.