One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
EyePoint, Inc.
EYPT · NGM · Healthcare · Biotechnology
Current price
$0.36
52-week range
$0.33 - $19.11
Market cap
$30.34M
Balance sheet
Healthy
-7,376.79x Concerning
Net cash $158.10M. Interest coverage shows how many times profit covers the interest bill.
What stands out
0 Rewards
3 Risks
0 rewards · 3 risks
- Risk Operating margin compressed from -190.7% to -19207.1% over 3 years.
- Risk Return on equity was -148.7% last year — the company lost money on shareholders' equity.
- Risk Insider ownership is only 3.5% (peer median: 4.3%).
What this company does
EyePoint, Inc.
EyePoint, Inc. creates treatments for serious eye conditions like macular degeneration that cause vision loss, mainly by developing a special way to deliver medicine slowly inside the eye. Their main product in testing is DURAVYU, which combines a new drug with their slow-release technology to help patients with wet age-related macular degeneration and diabetic macular edema. This matters because if successful, it could offer a new, less frequent treatment option for millions of people.
How the company got here
EyePoint, Inc. was founded in 2000 and was formerly known as EyePoint Pharmaceuticals, Inc.. The company has evolved from a small commercial ophthalmic-products business into a clinical-stage retinal therapeutics company. Its history includes developing long-duration ocular drug-delivery technologies. EyePoint's strategic focus has increasingly shifted towards executing its pipeline, gathering clinical data, preparing for manufacturing, and managing its capital.
What it actually does
EyePoint develops and commercializes treatments for serious retinal diseases. They use a proprietary technology called Durasert E, which allows drugs to be delivered slowly over time inside the eye. This technology aims to improve patient lives by potentially reducing the need for frequent treatments and follow-up visits. The company's main focus is on developing new therapies for conditions like wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME).
DURAVYU™ (vorolanib intravitreal insert)
DURAVYU is EyePoint's main product candidate, currently in late-stage clinical trials. It's designed as a sustained-release treatment for retinal diseases like wet AMD and diabetic macular edema (DME). DURAVYU combines a drug called vorolanib with EyePoint's Durasert E delivery technology. The goal is to provide a treatment that lasts longer, reducing the number of injections patients need. While it has shown promise in clinical trials, including meeting some secondary endpoints and demonstrating a favorable safety profile, it did not meet its primary endpoint in a recent Phase 3 trial for wet AMD. The company is continuing to focus on its development for DME, with pivotal Phase 3 data expected in late 2027.
EYP-2301
EYP-2301 is another product candidate in EyePoint's pipeline. It's in the early, pre-clinical development phase. This therapy is also formulated using the Durasert E technology and is designed as a TIE-2 agonist. The aim of EYP-2301 is to potentially improve outcomes for patients with serious retinal diseases by targeting vascular stability.
YUTIQ
YUTIQ is an approved ophthalmic product that EyePoint has in its portfolio. It is an implant that is injected into the eye to treat chronic non-infectious uveitis, a condition affecting the back of the eye. This product represents a part of the company's history and ongoing economics, though the company's strategic focus has largely shifted to its pipeline development.
What management is betting on now
EyePoint's current strategy is to concentrate its resources on the late-stage development of DURAVYU for diabetic macular edema (DME). This focus comes after recent Phase 3 trial results for wet age-related macular degeneration (wet AMD) did not meet their primary goal. To support this prioritization and conserve capital, the company has undertaken a significant workforce reduction. Management is aiming to deliver durable therapies that reduce the treatment burden for patients, with the hope that DURAVYU will offer a long-term therapeutic option for DME.
Price history
How the share price has moved
—
Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-40.60M
FY2024 Q4
$-36.23M
FY2025 Q1
$-53.40M
FY2025 Q2
$-63.81M
FY2025 Q3
$-60.15M
FY2025 Q4
$-66.03M
FY2026 Q1
$-81.55M
FY2026 Q2
$-63.55M
Revenue
$507.00K
Net income
$-94.47M
Diluted EPS
-1.09
Operating cash flow
$-62.35M
Free cash flow
$-63.55M
Fetching…
Sources
Revenue
$696.00K
Net income
$-84.83M
Diluted EPS
-0.99
Operating cash flow
$-80.55M
Free cash flow
$-81.55M
Fetching…
Sources
Revenue
$619.00K
Net income
$-67.61M
Diluted EPS
-0.82
Operating cash flow
$-65.05M
Free cash flow
$-66.03M
Fetching…
Sources
Revenue
$966.00K
Net income
$-59.73M
Diluted EPS
-0.85
Operating cash flow
$-59.35M
Free cash flow
$-60.15M
Fetching…
Sources
Revenue
$5.33M
Net income
$-59.43M
Diluted EPS
-0.85
Operating cash flow
$-62.59M
Free cash flow
$-63.81M
Fetching…
Sources
Revenue
$24.45M
Net income
$-45.20M
Diluted EPS
-0.65
Operating cash flow
$-53.12M
Free cash flow
$-53.40M
Fetching…
Sources
Revenue
$11.59M
Net income
$-41.40M
Diluted EPS
-0.65
Operating cash flow
$-35.85M
Free cash flow
$-36.23M
Fetching…
Sources
Revenue
$10.52M
Net income
$-29.36M
Diluted EPS
-0.54
Operating cash flow
$-39.03M
Free cash flow
$-40.60M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $0.36
We couldn't calculate a fair value right now.
Is it drowning in debt?
Healthy
Net cash $158.1M - more cash than debt. Interest coverage -7376.8x.
Net debt
$-158.10M
Interest coverage
-7,376.79x
EyePoint, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 5 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Healthy
Worse cushion
Baseline
Better cushion
EYPT
BASELINE
EyePoint, Inc.
Total debt $22.37M Interest coverage -7,376.79x This is the baseline the peer rows are being compared against.
Total debt $252.22M Interest coverage -3.58x Neither company has much profit cushion over interest right now.
Total debt $2.30M Interest coverage -12.88x Neither company has much profit cushion over interest right now.
Total debt $88.56M Interest coverage -12.13x Neither company has much profit cushion over interest right now.
Total debt $1.63M Interest coverage -13.34x Neither company has much profit cushion over interest right now.
Total debt $143.45K Interest coverage -18.51x Neither company has much profit cushion over interest right now.
What you should know
The case for and against EYPT
0 Rewards
3 Risks
Rewards
Risks
-
Operating margin compressed from -190.7% to -19207.1% over 3 years.
-
Return on equity was -148.7% last year — the company lost money on shareholders' equity.
-
Insider ownership is only 3.5% (peer median: 4.3%).
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-0.18x
P/B
0.18x
P/S
10.88x
EV/EBITDA
0.40x
PEG ratio
—
Profitability
How much profit each dollar creates
Gross margin
0.0%
Operating margin
-19,207.1%
Net margin
0.0%
ROE
-148.7%
ROA
-74.9%
Health
Liquidity and balance-sheet strength
Debt / equity
0.13x
Current ratio
4.50x
Quick ratio
4.30x
Total debt
$22.37M
Total cash
$180.47M
Growth
How the business has been compounding
Revenue TTM
$2.79M
Revenue 5Y CAGR
-4.0%
EPS TTM
-3.75
EPS 5Y CAGR
—
Cash flow
How much cash the business throws off
Operating CF TTM
$-267.30M
Free CF TTM
$-243.39M
FCF margin
-8,729.9%
Dividend
Shareholder payout
Yield
0.0%
Payout ratio
0.0%
Last ex-div date
—