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Oyster Point Pharma, Inc.

oysterpointrx.com

No Longer Reporting

The company has not filed an annual or quarterly report since its Q3 FY2022 10-Q, filed Nov 10, 2022. Its latest SEC filing is a SC 13G/A from Feb 14, 2023.

The sections below describe the company as of the FY2021 annual report.

What Did They Do?

Sells TYRVAYA nasal spray for dry eye disease to pharmaceutical wholesalers and develops therapies for other eye diseases.

How Did They Make Money?

A China license partner pays for rights and milestone achievements, with possible royalties tied to future product sales. U.S. wholesale distributors pay for TYRVAYA after delivery under customer-specific invoice terms.

FY2021 revenue

Who Were Their Customers?

National and regional pharmaceutical wholesalers, including a specialty wholesaler, buy TYRVAYA for U.S. distribution; the company promotes it to ophthalmologists and optometrists who prescribe it.

Customers above 10% of revenue, FY2021
of revenue from four customers (42%, 21%, 18%, 17%)

Did Revenues Turn Into Profits?

No. It lost $100.7M in FY2021.

Operating income, FY2021
−394% of revenue
▲ +36% (Loss) vs FY2020 (−$71M)
Net income, FY2021
−410% of revenue
▲ +43% (Loss) vs FY2020 (−$70.5M)
Free cash flow, FY2021
−370% of revenue
▲ +54% (Loss) vs FY2020 (−$59.1M)

How Were They Changing?

Since the FY2021 annual report
Latest quarter: Q3 FY2022, the three months to Sep 30, 2022
Revenue
vs $0 in Q3 FY2021
Net income
▲ +108% (Loss)
vs −$17.7M in Q3 FY2021
  • Jan 3, 2023 Viatris completed its acquisition of Oyster Point Oyster Point became a wholly owned Viatris subsidiary after the tender offer and merger.
  • Nov 8, 2022 Signed an acquisition agreement with Viatris Viatris agreed to acquire all Oyster Point shares for cash plus a contingent payment tied to TYRVAYA targets.

Who Did They Compete With?

Competes with Aerie Pharmaceuticals, Alcon, Aldeyra Therapeutics, Abbvie, Azura Ophthalmics, Bausch Health, Glaukos, HanAll BioPharma, Johnson & Johnson, Mitotech, Novartis, Parion Sciences, ReGenTree, Silk Technologies, Sylentis, TopiVert Pharma, and TearSolutions

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