NEW YORK—Eyenovia, Inc. (NASDAQ: EYEN) yesterday announced financial and operating results for the third quarter ending September 30, 2024, demonstrating a net loss of approximately $7.9 million, as compared with a net loss of $7.3 million for the third quarter of 2023. In early September 2024, the company had also announced the U.S. launch and commercial availability of clobetasol propionate ophthalmic suspension 0.05%, which is FDA approved for the treatment of postoperative inflammation and pain following ocular surgery.

“We achieved another significant commercial milestone during the third quarter with the U.S. launch of clobetasol, the first new ocular steroid approved in over 15 years,” said Michael Rowe, chief executive officer, Eyenovia. “Clobetasol perfectly complements our mydriasis product, Mydcombi, and allows us to further leverage our sales force while adding significant value to eye doctors and surgeons. We also experienced accelerating sales momentum with Mydcombi, now having reached 230 offices as of September 30.”

He added, “We also took a meaningful step forward in the development of our Gen-2 Optejet device with the commencement of manufacture of registration batches, with Mydcombi as our lead product. We look forward to submitting for FDA approval of this advanced technology with Mydcombi in 2025, and a possible approval in 2026, if successful.”

Research and development expenses were reported to be approximately $3.5 million for the third quarter of 2024, which was relatively consistent with $3.6 million reported for the third quarter of 2023. Also for the third quarter of 2024, selling, general and administrative expenses were approximately $3.7 million, compared with $2.9 million for the third quarter of 2023, an increase of approximately 27.3 percent. Total operating expenses for the third quarter of 2024 were approximately $7.2 million, compared with approximately $6.5 million for the third quarter of 2023. This represents an increase of approximately 10.6 percent. The third quarter 2024 operating expense figure includes approximately $1.2 million of non-cash expenses.
 
As of September 30, 2024, the company’s unrestricted cash and cash equivalents were approximately $7.2 million. Eyenovia stated that it is continuing to evaluate a range of options to secure long-term financing.