Stock Alert: Eyenovia Up 10% On Positive Late-stage Study Results Of Its MicroLine

Shares of Eyenovia, Inc. (EYEN) are rising more than 10% Tuesday morning after the company announced positive top line results from the late-stage study of MicroLine for the treatment of Presbyopia.

Phase 3 study dubbed Vision-1, of the company's proprietary pilocarpine formulation, MicroLine, for the temporary improvement of near vision in adults with presbyopia, achieved its primary endpoint, the company said.

The company plans to initiate a second Phase 3 registration study, Vision-2 of MicroLine in the upcoming months.

Presbyopia is an age-related, progressive hardening of the eye's lens, causing blurred near vision.

EYEN, currently at $5.16, has been trading in the range of $2.55- $7.72 in the last one year.

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