Eyenovia (EYEN) said Friday that Avenue Capital Management has agreed to support a potential restructuring of Eyenovia's loan and security agreement, and defer principal and interest payments on its outstanding debt until the end of February 2025.
The ophthalmic technology company also said it is taking additional actions to cut personnel-related costs by more than 70%.
The company previously said it is considering various restructuring moves aimed at maximizing shareholder value, reducing expenses, and evaluating its strategic options, which could include a business combination, reverse merger, asset sales, or a combination of the three.
Shares of Eyenovia were up more than 11% in recent premarket activity.
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