$EYPT
EyePoint Pharmaceuticals, Inc. Stock $eypt

$eypt Overview Financials Valuation SEC Filings Company Website

2019 Q2 Form 10-Q Financial Statement

#000119312519144237 Filed on May 10, 2019

Income Statement

Concept	2019 Q2	2019 Q1	2018 Q1
Revenue	$7.210M	$2.012M	$928.0K
YoY Change	908.39%	116.81%	57.29%
Cost Of Revenue	$706.0K	$330.0K
YoY Change
Gross Profit	$6.504M	$1.682M
YoY Change	809.65%
Gross Profit Margin	90.21%	83.6%
Selling, General & Admin	$12.10M	$11.92M	$2.280M
YoY Change	111.08%	422.85%	-6.17%
% of Gross Profit	186.02%	708.74%
Research & Development	$3.955M	$3.797M	$3.325M
YoY Change	-17.0%	14.2%	0.03%
% of Gross Profit	60.81%	225.74%
Depreciation & Amortization	$650.0K	$44.00K	$43.00K
YoY Change	0.0%	2.33%	-79.52%
% of Gross Profit	9.99%	2.62%
Operating Expenses	$17.38M	$16.66M	$5.606M
YoY Change	65.52%	197.24%	-2.5%
Operating Profit	-$10.17M	-$14.65M	-$4.678M
YoY Change	3.92%	213.19%	-9.34%
Interest Expense	$1.599M	$1.020M	-$2.300M
YoY Change	122.08%	-144.35%	-11600.0%
% of Operating Profit
Other Income/Expense, Net	-$1.333M	-$4.587M	-$2.300M
YoY Change	-94.59%	99.43%	-11600.0%
Pretax Income	-$11.50M	-$19.24M	-$6.980M
YoY Change	-66.6%	175.64%	35.8%
Income Tax			$0.00
% Of Pretax Income
Net Earnings	-$11.50M	-$19.24M	-$6.978M
YoY Change	-66.6%	175.7%	35.76%
Net Earnings / Revenue	-159.47%	-956.16%	-751.94%
Basic Earnings Per Share
Diluted Earnings Per Share	-$1.083M	-$2.015M	-$1.531M
COMMON SHARES
Basic Shares Outstanding	106.1M		45.26M shares
Diluted Shares Outstanding

Balance Sheet

Concept	2019 Q2	2019 Q1	2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments	$44.20M	$43.40M	$16.30M
YoY Change	13.92%	166.26%	5.84%
Cash & Equivalents	$44.16M	$43.38M	$16.35M
Short-Term Investments
Other Short-Term Assets	$3.100M	$1.800M	$900.0K
YoY Change	287.5%	100.0%	12.5%
Inventory	$1.670M	$886.0K
Prepaid Expenses
Receivables	$9.600M	$2.300M	$500.0K
Other Receivables	$0.00	$0.00	$0.00
Total Short-Term Assets	$58.57M	$48.37M	$17.68M
YoY Change	46.77%	173.67%	7.32%
LONG-TERM ASSETS
Property, Plant & Equipment	$417.0K	$425.0K	$250.0K
YoY Change	64.82%	70.0%	3.73%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$200.0K	$200.0K	$300.0K
YoY Change	0.0%	-33.33%	0.0%
Total Long-Term Assets	$32.76M	$33.48M	$32.48M
YoY Change	3.14%	3.08%	3038.45%
TOTAL ASSETS
Total Short-Term Assets	$58.57M	$48.37M	$17.68M
Total Long-Term Assets	$32.76M	$33.48M	$32.48M
Total Assets	$91.33M	$81.85M	$50.16M
YoY Change	27.43%	63.19%	186.54%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$6.066M	$6.318M	$2.760M
YoY Change	106.33%	128.91%	272.47%
Accrued Expenses	$4.214M	$2.924M	$3.215M
YoY Change	13.19%	-9.05%	-18.46%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$10.72M	$24.66M	$21.22M
YoY Change	-50.51%	16.23%	329.45%
LONG-TERM LIABILITIES
Long-Term Debt	$46.25M	$31.95M	$12.85M
YoY Change	167.2%	148.65%
Other Long-Term Liabilities	$3.000M	$2.100M	$938.0K
YoY Change	143.7%	123.88%	838.0%
Total Long-Term Liabilities	$49.25M	$34.05M	$13.79M
YoY Change	165.64%	146.97%	13688.0%
TOTAL LIABILITIES
Total Short-Term Liabilities	$10.72M	$24.66M	$21.22M
Total Long-Term Liabilities	$49.25M	$34.05M	$13.79M
Total Liabilities	$63.12M	$61.98M	$41.96M
YoY Change	5.23%	47.7%	740.04%
SHAREHOLDERS EQUITY
Retained Earnings	-$439.2M	-$427.7M	-$329.6M
YoY Change	20.67%	29.79%	8.2%
Common Stock	$466.6M	$446.8M	$336.9M
YoY Change	24.48%	32.6%	6.53%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$28.21M	$19.88M	$8.198M
YoY Change
Total Liabilities & Shareholders Equity	$91.33M	$81.85M	$50.16M
YoY Change	27.43%	63.19%	186.54%

Cashflow Statement

Concept	2019 Q2	2019 Q1	2018 Q1
OPERATING ACTIVITIES
Net Income	-$11.50M	-$19.24M	-$6.978M
YoY Change	-66.6%	175.7%	35.76%
Depreciation, Depletion And Amortization	$650.0K	$44.00K	$43.00K
YoY Change	0.0%	2.33%	-79.52%
Cash From Operating Activities	-$17.11M	-$13.33M	-$4.819M
YoY Change	181.41%	176.7%	6.15%
INVESTING ACTIVITIES
Capital Expenditures	-$30.00K	$182.0K	$0.00
YoY Change	-40.0%		-100.0%
Acquisitions		$0.00	$15.07M
YoY Change		-100.0%
Other Investing Activities	$0.00	$0.00	-$15.07M
YoY Change	-100.0%	-100.0%	-549.85%
Cash From Investing Activities	-$30.00K	-$182.0K	-$15.07M
YoY Change	-98.29%	-98.79%	-552.61%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net		$0.00	$9.266M
YoY Change		-100.0%
Debt Paid & Issued, Net		$20.00M
YoY Change
Cash From Financing Activities	17.92M	11.63M	23.36M
YoY Change	-40.78%	-50.2%	877.45%
NET CHANGE
Cash From Operating Activities	-17.11M	-13.33M	-4.819M
Cash From Investing Activities	-30.00K	-182.0K	-15.07M
Cash From Financing Activities	17.92M	11.63M	23.36M
Net Change In Cash	780.0K	-1.882M	3.470M
YoY Change	-96.52%	-154.24%	194.07%
FREE CASH FLOW
Cash From Operating Activities	-$17.11M	-$13.33M	-$4.819M
Capital Expenditures	-$30.00K	$182.0K	$0.00
Free Cash Flow	-$17.08M	-$13.52M	-$4.819M
YoY Change	183.25%	180.47%	6.38%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value
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CY2018Q4	us-gaap	Accounts And Other Receivables Net Current AccountsAndOtherReceivablesNetCurrent	627000
CY2018Q4	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1434000
CY2019Q1	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	425000
CY2018Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	288000
CY2019Q1	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	29514000
CY2018Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	30129000
CY2019Q1	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	150000
CY2018Q4	us-gaap	Restricted Cash And Cash Equivalents Noncurrent RestrictedCashAndCashEquivalentsNoncurrent	150000
CY2019Q1	us-gaap	Assets Assets	81854000
CY2018Q4	us-gaap	Assets Assets	78168000
CY2019Q1	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	43379000
CY2018Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	45261000
CY2019Q1	us-gaap	Prepaid Expense And Other Assets Current PrepaidExpenseAndOtherAssetsCurrent	1849000
CY2019Q1	us-gaap	Assets Current AssetsCurrent	48372000
CY2018Q4	us-gaap	Assets Current AssetsCurrent	47601000
CY2019Q1	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	31952000
CY2018Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	17621000
CY2019Q1	us-gaap	Accounts Payable Current AccountsPayableCurrent	6318000
CY2018Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	2640000
CY2019Q1	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	2924000
CY2018Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	3789000
CY2019Q1	eypt	Accrued Development Milestone Current AccruedDevelopmentMilestoneCurrent	15000000
CY2018Q4	eypt	Accrued Development Milestone Current AccruedDevelopmentMilestoneCurrent	15000000
CY2019Q1	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	2100000
CY2018Q4	us-gaap	Other Liabilities Noncurrent OtherLiabilitiesNoncurrent	1455000
CY2019Q1	us-gaap	Liabilities Liabilities	61977000
CY2018Q4	us-gaap	Liabilities Liabilities	40535000
CY2019Q1	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	81854000
CY2018Q4	us-gaap	Liabilities And Stockholders Equity LiabilitiesAndStockholdersEquity	78168000
CY2019Q1	us-gaap	Liabilities Current LiabilitiesCurrent	24659000
CY2018Q4	us-gaap	Liabilities Current LiabilitiesCurrent	21459000
CY2019Q1	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2019Q1	us-gaap	Common Stock Value CommonStockValue	96000
CY2018Q4	us-gaap	Common Stock Value CommonStockValue	95000
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CY2019Q1	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	839000
CY2018Q4	us-gaap	Accumulated Other Comprehensive Income Loss Net Of Tax AccumulatedOtherComprehensiveIncomeLossNetOfTax	839000
CY2019Q1	us-gaap	Stockholders Equity StockholdersEquity	19877000
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CY2019Q1	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	5000000
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CY2019Q1	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2018Q4	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0
CY2019Q1	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2018Q4	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0
CY2019Q1	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	150000000
CY2018Q4	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	150000000
CY2019Q1	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	95554228
CY2018Q4	us-gaap	Preferred Stock Value PreferredStockValue	0
CY2018Q4	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
CY2019Q1	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.001
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CY2018Q1	us-gaap	Research And Development Expense ResearchAndDevelopmentExpense	3325000
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CY2018Q1	us-gaap	Finitelived Intangible Assets Acquired1 FinitelivedIntangibleAssetsAcquired1	31973000
CY2019Q1	us-gaap	Revenue From Contract With Customer Excluding Assessed Tax RevenueFromContractWithCustomerExcludingAssessedTax	2012000
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CY2018Q1	us-gaap	Other Nonoperating Income Expense OtherNonoperatingIncomeExpense	25000
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CY2019Q1	us-gaap	Gain Loss On Derivative Instruments Net Pretax GainLossOnDerivativeInstrumentsNetPretax	0
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CY2019Q1	eypt	Increase Decrease In Deferred Rent IncreaseDecreaseInDeferredRent
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CY2019Q1	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock
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CY2018Q1	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	3470000
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CY2019Q1	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2018Q4	us-gaap	Commitments And Contingencies CommitmentsAndContingencies
CY2019Q1	us-gaap	Net Income Loss NetIncomeLoss	-19238000
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CY2019Q1	eypt	Warrants To Purchase Common Shares Expired WarrantsToPurchaseCommonSharesExpired	0
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CY2019Q1	dei	Document Type DocumentType	10-Q
CY2019Q1	dei	Amendment Flag AmendmentFlag	false
CY2019Q1	dei	Document Period End Date DocumentPeriodEndDate	2019-03-31
CY2019Q1	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2019
CY2019Q1	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q1
CY2019Q1	dei	Entity Registrant Name EntityRegistrantName	EyePoint Pharmaceuticals, Inc.
CY2019Q1	dei	Entity Central Index Key EntityCentralIndexKey	0001314102
CY2019Q1	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2019Q1	dei	Entity Filer Category EntityFilerCategory	Accelerated Filer
CY2019Q1	dei	Trading Symbol TradingSymbol	EYPT
CY2019Q1	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
CY2019Q1	dei	Entity Small Business EntitySmallBusiness	true
CY2019Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	106105728
CY2019Q1	us-gaap	Nature Of Operations NatureOfOperations	<div><table style="border: none;border-collapse: collapse;margin-bottom: .001pt;width: 100%;"><tr><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: top;width: 4.0%;"><div style="font-family: "times new roman", serif; font-size: 10pt; line-height: normal;"><div style="font-family: "times new roman", serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">1.</div></div></div></td><td style="border-bottom: none;border-left: none;border-right: none;border-top: none;padding-bottom: 0pt;padding-left: 0;padding-right: 0;padding-top: 0pt;vertical-align: top;"><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 0px; line-height: normal;"><div style="font-family: "times new roman", serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Operations and Basis of Presentation </div></div></div></td></tr></table><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div><div style="clear: both; max-height: 0px;"></div></div><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 6pt; text-indent: 0in;"><div style="font-weight:bold;display:inline;">Overview </div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 6pt;text-indent: 0.79in;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">The accompanying condensed consolidated financial statements of EyePoint Pharmaceuticals, Inc. and subsidiaries (collectively, the “Company”) as of March 31, 2019 and for the three months ended March 31, 2019 and 2018 are unaudited. Certain information in the footnote disclosures of these financial statements has been condensed or omitted in accordance with the rules and regulations of the Securities and Exchange Commission (the “SEC”). These financial statements should be read in conjunction with the Company’s audited consolidated financial statements and footnotes included in the Company’s Transition Report on Form 10-K for the six months ended December 31, 2018. In the opinion of management, these statements have been prepared on the same basis as the audited consolidated financial statements as of and for the six months ended December 31, 2018, and include all adjustments, consisting only of normal recurring adjustments, that are necessary for the fair presentation of the Company’s financial position, results of operations, comprehensive loss and cash flows for the periods indicated. The preparation of financial statements in accordance with United States (“U.S.”) generally accepted accounting principles (“GAAP”) requires management to make assumptions and estimates that affect, among other things, (i) reported amounts of assets and liabilities; (ii) disclosure of contingent assets and liabilities at the date of the consolidated financial statements; and (iii) reported amounts of revenues and expenses during the reporting period. The results of operations for the three months ended March 31, 2019 are not necessarily indicative of the results that may be expected for the entire fiscal year or any future period.</div><div style="font-family: "times new roman", serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="margin: 12pt 0in 0.0001pt; text-indent: 0.79in; font-family: "times new roman", serif; font-size: 10pt;">The Company is a specialty biopharmaceutical company committed to developing and commercializing innovative ophthalmic products for the treatment of eye diseases. The Company has two products, YUTIQ™ and DEXYCU™, which were approved by the U.S. Food and Drug Administration (“FDA”) in October 2018 and February 2018, respectively.</div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 12pt;text-indent: 0.79in;"><div style="font-size: 10pt; letter-spacing: 0px; top: 0px;;display:inline;">YUTIQ (fluocinolone acetonide intravitreal implant) 0.18 mg for intravitreal injection, was launched directly in the U.S. in February 2019. YUTIQ is indicated for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, which affects between 55,000 to 120,000 people in the U.S. each year and causes approximately 30,000 new cases of blindness every year, making it the third leading cause of blindness. Injected into the eye in an office visit, YUTIQ is a micro-insert that delivers a micro-dose of a corticosteroid to the back of the eye on a sustained constant (zero order release) basis for up to 36 months. YUTIQ is based on the Company’s proprietary Durasert<div style="color: rgb(0, 0, 0); font-family: "times new roman"; font-style: normal; font-variant-ligatures: normal; font-variant-caps: normal; font-weight: 400; letter-spacing: normal; orphans: 2; text-align: start; text-indent: 4%; text-transform: none; white-space: normal; widows: 2; word-spacing: 0px; -webkit-text-stroke-width: 0px; background-color: rgb(255, 255, 255); text-decoration-style: initial; text-decoration-color: initial; font-size: 10pt; vertical-align: top;;vertical-align: super;font-size: smaller;display:inline;">™</div> sustained-release drug delivery technology platform, which can deliver drugs for predetermined periods of time ranging from months to years.</div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 12pt;text-indent: 0.79in;">DEXYCU (dexamethasone intraocular suspension) 9%, for intraocular administration, was launched directly in the U.S. in March 2019. Indicated for the treatme<div style="font-family: "times new roman", serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">nt of post-operative ocular inflammation, DEXYCU is administered as a single dose at the end of ocular surgery and is the first long-acting intraocular product approved by the FDA for this indication. DEXYCU utilizes the Company’s proprietary Verisome<div style="vertical-align: super;font-size: smaller;display:inline;">®</div> drug-delivery platform, which allows for a single intraocular injection that releases dexamethasone, a corticosteroid, over time. There were approximately 4.8 million cataract surgeries performed during 2018 in the U.S., with growth projected at an estimated annual rate of 8%, and the Company launched DEXYCU with a primary focus on its use following cataract surgery. The Company acquired DEXYCU in connection with its acquisition of Icon Bioscience, Inc. (“Icon”) in March 2018. </div></div><div style="font-size:10pt; color:#000000; font-family:'times new roman'; font-style:normal; font-variant-ligatures:normal; font-variant-caps:normal; font-weight:400; letter-spacing:normal; orphans:2; text-align:start; text-transform:none; white-space:normal; widows:2; word-spacing:0px; -webkit-text-stroke-width:0px; text-decoration-style:initial; text-decoration-color:initial; margin-top:12pt; margin-bottom:0pt; text-indent:4%">ILUVIEN<div style="font-size:11.3333px; vertical-align:top;vertical-align: super;font-size: smaller;display:inline;">®</div> for diabetic macular edema (“DME”), the Company’s lead licensed product, is sold directly in the U.S. and several European Union (“EU”) countries by Alimera Sciences, Inc. (“Alimera”). In July 2017, the Company expanded its license agreement with Alimera to include the uveitis indication utilizing the Durasert technology in Europe, the Middle East and Africa (“EMEA”), which received European regulatory approval in March 2019 and, subject to obtaining pricing and reimbursement in each applicable country, will be marketed as ILUVIEN. Retisert®, one of the Company’s earlier generation products, was approved in 2005 by the FDA for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye and is sold in the U.S. by Bausch & Lomb Incorporated (“Bausch & Lomb”). The Company’s development programs are focused primarily on developing sustained release products that utilize its Durasert and Verisome technology platforms to deliver approved drugs to treat chronic diseases. The Company’s strategy includes developing products independently while continuing to leverage its technology platforms through collaborations and license agreements.</div><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 13.5pt; text-indent: 0in; line-height: 12pt;"><div style="font-weight:bold;display:inline;">Liquidity </div></div><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 6pt; text-indent: 0.79in; line-height: 12pt;">The Company has a history of operating losses and has not had significant recurring cash inflows from revenue. The Company’s operations have been financed primarily from sales of its equity securities, issuance of debt and a combination of royalty income and other fees received from collaboration partners. In February 2019, the Company refinanced its then existing $20.0 million term loan and made an initial draw of $35.0 million from a new term loan agreement (the “CRG Loan Agreement”) with CRG Servicing LLC (“CRG”) (see Note 9), resulting in incremental net proceeds of approximately $11.4 million. In addition to total cash and cash equivalents of $43.4 million at March 31, 2019, the Company received net proceeds of $18.6 million on April 1, 2019 from the issuance of common stock (“Common Stock”) (excluding approximately $300,000 of additional unpaid share issue costs) (see Note 15). During April 2019, the Company exercised its option to draw an additional $15.0 million under the CRG Loan Agreement and paid a $15.0 million development milestone that was due to the former Icon security holders following the first commercial sale of DEXYCU (see Note 3). At April 30, 2019, the Company had $56.9 million of cash and cash equivalents.</div><div style="margin: 12pt 0in 0.0001pt; text-indent: 0.79in; font-family: "times new roman", serif; font-size: 10pt;">During the three months ended March 31, 2019, the Company commenced the U.S. launch of its first two commercial products, YUTIQ and DEXYCU. Executing a phased launch approach specifically for DEXYCU, many early patients have been injected at the end of cataract surgery through the Company’s non-revenue samples program that has facilitated physician training. Overall, early sales of these products have been encouraging, and the Company is optimistic that existing cash and cash equivalents at April 30, 2019 and cash inflows from anticipated YUTIQ and DEXYCU product sales will be sufficient to fund the Company’s current and planned operations through to the generation of positive cash flow in 2020.</div><div style="margin: 12pt 0in 0.0001pt; text-indent: 0.79in; font-family: "times new roman", serif; font-size: 10pt;">The Company, however, has no history of direct commercialization of its products and management does not yet have sufficient historical evidence to assert that it is probable that the Company will receive sufficient revenues from its sales of YUTIQ and DEXYCU to fund operations. Actual cash requirements could differ from management’s projections due to many factors, including the success of commercialization for YUTIQ and DEXYCU, the actual costs of these commercialization efforts, additional investments in research and development programs, competing technological and market developments and the costs of any strategic acquisitions and/or development of complementary business opportunities. Accordingly, the foregoing conditions, taken together, continue to raise substantial doubt about the Company’s ability to continue as a going concern for one year from the issuance of these financial statements.</div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 18pt;"><div style="font-family: "times new roman", serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"><div style="font-weight:bold;display:inline;">Recently Adopted and Recently Issued Accounting Pronouncements </div></div></div><div style="font-family: 'times new roman', 'serif';font-size: 10pt;margin-bottom: 0;margin-top: 6pt;text-indent: 0.79in;"><div style="font-family: "times new roman", serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;">New accounting pronouncements are issued periodically by the Financial Accounting Standards Board (“FASB”) and are adopted by the Company as of the specified effective dates. Unless otherwise disclosed below, the Company believes that recently issued and adopted accounting pronouncements will not have a material impact on the Company’s financial position, results of operations and cash flows or do not apply to the Company’s operations. </div></div><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 9pt; text-indent: 0.79in; line-height: 12pt;">In February 2016, the FASB issued Accounting Standards Update (“ASU”) No. 2016-02, <div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Leases</div> (<div style="font-style:italic;display:inline;;font-style:italic;display:inline;">Topic 842</div>) (“ASU 2016-02”). In July 2018, the FASB issued ASU No. 2018-11, Leases (Topic 842), Targeted Improvements, which contains certain amendments to ASU 2016-02 intended to provide relief in implementing the new standard. The new standard establishes a right-of-use (“ROU”) model that requires a lessee to record a ROU asset and a lease liability on the balance sheet for all operating leases, with an exception provided for leases with a duration of one year or less. The Company adopted ASU 2016-02 on January 1, 2019 using the modified retrospective transition approach which, pursuant to ASU 2018-11, allows companies to recognize existing leases at the adoption date without requiring comparable period presentation. Comparative periods are presented in accordance with the previous guidance in Accounting Standards Codification (“ASC”) 840, Leases.</div><div style="font-family: "times new roman", serif; font-size: 10pt; margin-bottom: 0px; margin-top: 9pt; text-indent: 0.79in; line-height: 12pt;">In adopting the new standard, the Company elected to utilize the available package of practical expedients permitted under the transition guidance within the new standard, which does not require the reassessment of the following: (i) whether existing or expired arrangements are or contain a lease, (ii) the lease classification of existing or expired leases, and (iii) whether previous initial direct costs would qualify for capitalization under the new lease standard. Additionally, the Company elected to combine lease and non-lease components and to exclude leases with a term of 12 months or less. The adoption of this accounting standard resulted in recording operating lease ROU assets for three real estate operating lease arrangements and corresponding operating lease liabilities of $3.5 million and $3.7 million, respectively, as of January 1, 2019. The operating lease assets at adoption were lower than the operating lease liabilities because the balance of the Company’s deferred rent liabilities at December 31, 2018, which represented lease incentives, was reclassified into operating lease assets. The adoption of the standard did not have a material effect on the Company’s consolidated statements of operations or consolidated statements of cash flows.<div style="font-family: "times new roman", serif; font-size: 10pt; color: rgb(0, 0, 0); letter-spacing: 0px; top: 0px;;display:inline;"> </div></div><div style="margin: 9pt 0in 0.0001pt; text-indent: 0.79in; font-family: "times new roman", serif; font-size: 10pt; line-height: 12pt;">Under Topic 842, the Company determines whether the arrangement is or contains a lease at inception. Operating leases are recognized on the consolidated balance sheets as ROU assets, current portion of lease liabilities and long-term lease liabilities. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. Operating lease liabilities and their corresponding ROU assets are recorded based on the present value of lease payments over the expected remaining lease term. For this purpose, the Company considers only payments that are fixed and determinable at the time of commencement. The operating lease ROU assets also include any lease payments made and adjustments for prepayments and lease incentives. The interest rate implicit in lease contracts is typically not readily determinable. As a result, the Company utilized its incremental borrowing rate, which is the rate incurred to borrow on a collateralized basis over a similar term an amount equal to the lease payments in a similar economic environment. Lease terms may include options to extend or terminate the lease when it is reasonably certain that the Company will exercise that option. Lease expense for lease payments is recognized on a straight-line basis over the lease term.</div> <table border="0" style="width:100%; table-layout:fixed;" cellspacing="0" cellpadding="0"><tr><td></td></tr></table>
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CY2018Q1	eypt	Percentage Of Partnering Income Received Payable As Earnout Consideration PercentageOfPartneringIncomeReceivedPayableAsEarnoutConsideration	0.20

Files In Submission

Name	View Source	Status
0001193125-19-144237-index-headers.html	Edgar Link	pending
0001193125-19-144237-index.html	Edgar Link	pending
0001193125-19-144237.txt	Edgar Link	pending
0001193125-19-144237-xbrl.zip	Edgar Link	pending
d715476d10q.htm	Edgar Link	pending
d715476dex311.htm	Edgar Link	pending
d715476dex312.htm	Edgar Link	pending
d715476dex321.htm	Edgar Link	pending
d715476dex322.htm	Edgar Link	pending
eypt-20190331.xml	Edgar Link	completed
eypt-20190331.xsd	Edgar Link	pending
eypt-20190331_cal.xml	Edgar Link	unprocessable
eypt-20190331_def.xml	Edgar Link	unprocessable
eypt-20190331_lab.xml	Edgar Link	unprocessable
eypt-20190331_pre.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
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R2.htm	Edgar Link	pending
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R66.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$EYPT
EyePoint Pharmaceuticals, Inc. Stock $eypt

2019 Q2 Form 10-Q Financial Statement

#000119312519144237 Filed on May 10, 2019

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EYPT EyePoint Pharmaceuticals, Inc. Stock $eypt

2019 Q2 Form 10-Q Financial Statement

#000119312519144237 Filed on May 10, 2019

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$EYPT
EyePoint Pharmaceuticals, Inc. Stock $eypt