BUSINESS: Financial Oyster Point Pharma Reports $4.7 Million Net Revenue in 2Q 2022 By Staff Monday, August 15, 2022 12:24 AM PRINCETON, N.J.—Oyster Point Pharma, Inc. (Nasdaq: OYST), a commercial-stage biopharmaceutical company focused on ophthalmic diseases, reported net revenue of $4.7 million for the three months ended June 30, 2022, up 74 percent over the prior quarter. Tyrvaya Nasal Spray was approved by the FDA on Oct. 15, 2021, and commercially launched in the U.S. in November 2021. The company did not generate any revenues from product sales during the three months ended June 30, 2021. “We are very pleased with Q2 results as we continue to execute on our Tyrvaya commercialization strategy,” said Jeffrey Nau, PhD, MMS, president and chief executive officer of Oyster Point Pharma. “We steadily grew Tyrvaya’s footprint in the dry eye market, with expanded patient access and over 30,000 prescriptions written during the quarter. “While our commercial team focused on increasing adoption of Tyrvaya, we also made significant progress across multiple areas of the business including collaborating with licensing partner Ji Xing Pharmaceuticals to enroll the first patients in the first Phase 3 trial of OC-01 outside of the U.S., continued enrollment of our Olympia Phase 2 clinical trial for neurotrophic keratopathy and the submission of a Pre-IND meeting request to the U.S. FDA for our enriched tear film gene therapy platform,” Nau said. As of June 30, 2022, Oyster Point had cash and cash equivalents of $104.9 million, compared to $143.4 million as of March 31, 2022. The decrease in cash and cash equivalents during the three months ended June 30, 2022, of $38.5 million was primarily the result of amounts spent to fund operating activities incurred to market Tyrvaya.