WATERTOWN, Mass., Dec. 16, 2024 (GLOBE NEWSWIRE) — EyePoint Prescribed drugs, Inc. (NASDAQ:NASDAQ:), an organization engaged within the growth and commercialization of therapeutic merchandise aimed toward enhancing the lives of sufferers with severe retinal ailments , introduced immediately that the Firm has granted non-statutory inventory choices to new staff as incentives outdoors of the Firm’s 2023 Lengthy-Time period Incentive Plan. Firm, pursuant to NASDAQ Itemizing Rule 5635(c)(4).
The Firm has granted inventory choices to buy as much as a complete of 54,600 shares of EyePoint Prescribed drugs widespread inventory to 6 new staff. The inventory choices had been granted on December 13, 2024. The grants had been accepted by the Compensation Committee and paid as an incentive to every worker coming into employment with EyePoint Prescribed drugs in accordance with the itemizing rule of NASDAQ 5635(c)(4). The choices granted have an train worth of $7.46 per share, the closing worth of EyePoint Prescribed drugs widespread inventory on December 13, 2024. The choices have a time period of ten years and vest over 4 years, with 25 % of the preliminary variety of shares. vested on the primary anniversary of the relevant worker’s grant date with the rest vesting in equal month-to-month installments over the next three years. Vesting of choices is topic to the worker’s continued presence with EyePoint Prescribed drugs by the relevant vesting dates.
About EyePoint Prescribed drugs
EyePoint Prescribed drugs (Nasdaq: EYPT) is a clinical-stage biopharmaceutical firm dedicated to creating and commercializing progressive therapies to assist enhance the lives of sufferers with severe retinal ailments. The Firm’s pipeline leverages its proprietary bioerodible Durasert E™ know-how for sustained intraocular drug supply. The Firm’s lead product candidate, DURAVYU™ (f/okay/a EYP-1901), is an investigational, long-dose remedy for VEGF-mediated retinal ailments combining vorolanib, a patent-protected, selective tyrosine inhibitor kinase, with bioerodible Durasert E™. DURAVYU is presently in international pivotal Part 3 scientific trials as an extended-dose remedy for moist AMD (NASDAQ:), the main reason for imaginative and prescient loss in individuals 50 and older in the USA, and in a section 2 scientific trial in DME. EyePoint expects first full information from the section 2 AMD scientific trial within the first quarter of 2025 and first information from the 2 pivotal section 3 moist AMD trials in 2026.
Ongoing packages embody EYP-2301, a TIE-2 agonist, razuprotafib, formulated into Durasert E™ to probably enhance outcomes in severe retinal ailments. Confirmed Durasert ® drug supply know-how has been safely delivered to hundreds of affected person eyes throughout 4 US FDA-approved merchandise. EyePoint Prescribed drugs is headquartered in Watertown, Massachusetts.
Vorolanib is licensed to EyePoint solely by Equinox Sciences, a subsidiary of Betta Prescribed drugs, for the localized remedy of all ophthalmic ailments outdoors of China, Macau, Hong Kong and Taiwan.
DURAVYU™ has been conditionally accepted by the FDA because the proprietary identify for EYP-1901. DURAVYU is an experimental product; it has not been accepted by the FDA. FDA approval and the timing of potential approval are unsure.
For EyePoint Prescribed drugs:
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Supply: EyePoint Prescribed drugs, Inc.
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