EyePoint Pharmaceuticals Announces Inducement Awards for New Team Members

EyePoint Pharmaceuticals Inducement Grants Explained

EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a biopharmaceutical company dedicated to enhancing the lives of patients suffering from serious retinal diseases, has recently made an exciting announcement regarding inducement grants to new employees. These non-statutory stock options have been awarded to help attract and retain talented individuals while complying with NASDAQ Listing Rule 5635(c)(4).

Details of the Inducement Awards

In total, EyePoint Pharmaceuticals granted stock options enabling the purchase of up to 43,000 shares of its common stock. This grant, made to two recent hires on September 13, 2024, underscores the company's strategy to incentivize their new team members, making them a critical part of the EyePoint mission. The Compensation Committee approved these stock options, which feature an exercise price set at $9.10 per share, reflecting the common stock's closing price on the grant date.

Vesting Schedule and Duration

These options come with a ten-year term and feature a structured vesting schedule. Notably, 25% of the stock options will become available on the first anniversary of the employees’ grant date, followed by equal monthly installments for the subsequent three years. For these options to vest, continued service with EyePoint Pharmaceuticals is required, aligning employee efforts with the company’s long-term objectives.

About EyePoint Pharmaceuticals and Its Commitment

EyePoint Pharmaceuticals is at the forefront of developing transformative therapeutics for retinal diseases. Leveraging their proprietary Durasert E™ technology, the company excels in sustained intraocular drug delivery systems. Their flagship product candidate, DURAVYU™ (previously known as EYP-1901), is currently under investigation as a sustained delivery treatment for VEGF-mediated retinal diseases.

DURAVYU™ Clinical Trials

DURAVYU™ is undergoing Phase 2 clinical trials as a treatment for wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME), both significant contributors to vision impairment in adults over 50. EyePoint aims to initiate pivotal Phase 3 clinical trials in wet AMD, with patient randomization expected soon.

Pipeline Innovations

The company’s commitment to innovation extends to other pipeline programs, including EYP-2301, a TIE-2 agonist that may improve patient outcomes in severe retinal conditions. EyePoint’s Durasert® technology has a proven track record, having been utilized safely in thousands of patients through four FDA-approved products.

Partnerships and Licensing

EyePoint Pharmaceuticals has licensed vorolanib exclusively from Equinox Sciences, part of the Betta Pharmaceuticals family, focusing on localized treatments for ophthalmic diseases outside specific Asian markets.

Contact Information for EyePoint Pharmaceuticals

For further inquiries regarding EyePoint's initiatives, investors can reach out to Christina Tartaglia at Precision AQ by phone at 212-698-8700 or via email.

For media-related questions, please contact Amy Phillips at Green Room Communications, reachable at 412-327-9499 or via email.

Frequently Asked Questions

What are inducement grants at EyePoint Pharmaceuticals?

Inducement grants are stock options given to new employees as incentives for meeting specific employment conditions, such as acceptance of a job offer.

What is the significance of NASDAQ Listing Rule 5635(c)(4)?

This rule allows companies to grant stock options outside existing plans under certain conditions, helping attract new talent.

How many shares were granted to new employees?

EyePoint Pharmaceuticals granted stock options for up to 43,000 shares to two new employees.

What is DURAVYU™ and its current status?

DURAVYU™ is an investigational treatment for retinal diseases, currently undergoing Phase 2 clinical trials.

Who can I contact for more information about EyePoint Pharmaceuticals?

For investor inquiries, contact Christina Tartaglia; for media inquiries, reach out to Amy Phillips.

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