Eyenovia, Inc. reported its financial results for the first quarter ended March 31, 2025, on May 19, 2025. The net loss for Q1 2025 significantly narrowed to $3.5 million, or $1.59 per share, compared to a net loss of $10.9 million, or $18.75 per share, for Q1 2024.
This improvement was driven by substantial cost reductions, with research and development expenses decreasing by 85% to $0.7 million and general and administrative expenses decreasing by 35% to $2.4 million. Total operating expenses decreased by 70% to $3.0 million.
The company also provided updates on its potential merger with Betaliq, stating that negotiations for a binding merger agreement are ongoing, with the exclusivity period extended to June 7, 2025. Development of the Optejet user-filled device (UFD) remains on track for a U.S. regulatory approval filing in September 2025, and unrestricted cash and cash equivalents increased to $3.9 million as of March 31, 2025.
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