EyePoint Pharmaceuticals, Inc. (EYPT), a clinical-stage biopharmaceutical company focused on retinal disease treatments, on Thursday announced the grant of non-statutory stock options to four new employees as inducement awards under NASDAQ Listing Rule 5635(c)(4).
The company granted a total of 30,300 stock options, which were approved by the Compensation Committee and issued on January 15, 2025.
The exercise price for these options is $7.69 per share, the closing price of EyePoint Pharmaceuticals' common stock on that date.
The options have a ten-year term and vest over four years, with 25% of the shares vesting on the first anniversary and the remainder vesting in equal monthly installments over the following three years, contingent on the employees' continued service with the company.
EyePoint Pharmaceuticals is advancing its pipeline for retinal diseases, including its lead candidate, DURAVYU (f/k/a EYP-1901), which is in Phase 3 clinical trials for wet AMD and Phase 2 trials for diabetic macular edema (DME).
The company expects topline data from the DME trial in Q1 2025 and from the Phase 3 wet AMD trials in 2026.
Currently, EYPT is trading at $7.91 up by 2.93%.
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