(Updates)
** Shares of EyePoint Pharmaceuticals slide 8.5% to $11.09 after the bell
** EYPT
unveils
public offering of $100 mln worth of shares
** J.P. Morgan, Citigroup and Guggenheim Securities are the joint book running managers for the offering
** EYPT stock closed up 27.6% at $12.12 on Monday
** Co has 53.5 mln outstanding shares, giving it a $648.6 mln market capitalization - LSEG data
** Earlier in the day, EYPT said its drug, Duravyu, showed an improvement in how well patients can see objects at a distance in a mid-stage trial testing it in diabetic macular edema $(DME.AU)$
** EYPT plans on using the proceeds to advance the development of Duravyu as well as support its earlier stage pipeline development initiatives
** DME is an eye condition that causes blurry vision in people with diabetes
** EYPT expects to report the full topline results in Q1 2025
** As of last close, EYPT stock down 47.6% YTD
(Reporting by Puyaan Singh and Arasu Kannagi Basil in Bengaluru)
((Puyaan.Singh@thomsonreuters.com;))
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