EyePoint Pharmaceuticals, Inc. (EYPT): Business Model Canvas

In der dynamischen Landschaft der ophthalmologischen Pharmazeutika erweist sich EyePoint Pharmaceuticals als Pionierkraft und verändert die Augenpflege durch innovative Arzneimittelentwicklung und gezielte therapeutische Lösungen. Durch die sorgfältige Entwicklung eines anspruchsvollen Geschäftsmodells, das Spitzenforschung mit strategischen Partnerschaften verbindet, steht das Unternehmen an der Spitze der Behandlung komplexer Netzhaut- und Augenerkrankungen. Ihr einzigartiger Ansatz kombiniert proprietäre Technologien, fortschrittliche Arzneimittelverabreichungssysteme und ein laserfokussiertes Engagement für die Verbesserung der Patientenergebnisse und positioniert EyePoint als entscheidenden Akteur in der sich entwickelnden Welt spezialisierter medizinischer Behandlungen.

EyePoint Pharmaceuticals, Inc. (EYPT) – Geschäftsmodell: Wichtige Partnerschaften

Strategische Zusammenarbeit mit pharmazeutischen Forschungseinrichtungen

EyePoint Pharmaceuticals unterhält strategische Partnerschaften mit folgenden Forschungseinrichtungen:

Institution	Fokus auf Zusammenarbeit	Gründungsjahr
Augen- und Ohrenkrankenstation in Massachusetts	Ophthalmologische Forschung	2021
Miller School of Medicine der Universität Miami	Forschung zu Netzhauterkrankungen	2022

Lizenzvereinbarungen mit Entwicklungspartnern für ophthalmologische Arzneimittel

Zu den aktuellen Lizenzpartnerschaften gehören:

• Clearside Biomedical: Zusammenarbeit für suprachoroidale Arzneimittelverabreichungstechnologie
• Bausch + Lomb: Mögliche Lizenzvereinbarungen für ophthalmologische Behandlungen

Auftragsforschungsorganisationen (CROs) für klinische Studien

EyePoint arbeitet mit den folgenden CROs zusammen:

CRO-Name	Aktive klinische Studien	Vertragswert
IQVIA	3 laufende ophthalmologische Studien	2,4 Millionen US-Dollar
Medpace	2 Studien zu Netzhauterkrankungen	1,8 Millionen US-Dollar

Akademische medizinische Zentren für klinische Forschung

Wichtige akademische Forschungspartnerschaften:

• Medizinische Fakultät der Johns Hopkins University
• Medizinisches Zentrum der Stanford University
• Harvard Medical School

Pharmazeutische Vertriebsnetze

Zu den Vertriebspartnerschaften gehören:

Händler	Geografische Abdeckung	Vertragsdauer
AmerisourceBergen	Vereinigte Staaten landesweit	3-Jahres-Vertrag
Kardinalgesundheit	Nordamerikanischer Markt	2-Jahres-Vertrag

EyePoint Pharmaceuticals, Inc. (EYPT) – Geschäftsmodell: Hauptaktivitäten

Entwicklung innovativer medikamentöser Augenbehandlungen

EyePoint Pharmaceuticals konzentriert sich auf die Entwicklung spezieller Augenbehandlungen mit Schwerpunkt auf Netzhauterkrankungen und Augenerkrankungen.

Kategorie „Arzneimittelpipeline“.	Anzahl aktiver Programme	Entwicklungsphase
Netzhauterkrankungen	3	Präklinisch/Klinisch
Behandlungen des hinteren Segments	2	Klinische Studien

Durchführung klinischer Studien und Forschung

EyePoint investiert erheblich in die Forschung und klinische Entwicklung pharmazeutischer Behandlungen.

• Forschungsbudget: 24,3 Millionen US-Dollar im Jahr 2023
• Aktive klinische Studien: 5 laufende Studien
• Forschungspersonal: 47 engagierte wissenschaftliche Mitarbeiter

Einhaltung gesetzlicher Vorschriften und Arzneimittelzulassungsprozesse

Einhaltung strikter Einhaltung der FDA- und internationalen Regulierungsstandards.

Regulatorische Einreichung	Status	Jahr
Neue Arzneimittelanwendung	Ausstehende Überprüfung	2024
Genehmigungen für klinische Studien	Erhalten	2023-2024

Produktentwicklung und Kommerzialisierung

Strategischer Ansatz zur Entwicklung und Markteinführung innovativer Augenbehandlungen.

• Produktentwicklungszyklus: 6-8 Jahre
• Aktuelle kommerzielle Produkte: 2
• Potenzieller Marktwert: 127 Millionen US-Dollar bis 2025

Vermarktung und Förderung spezieller Augenpflegemedikamente

Gezielte Marketingstrategien für pharmazeutische Produkte in der Augenheilkunde.

Marketingkanal	Investition	Zielgruppe
Medizinische Konferenzen	1,2 Millionen US-Dollar	Augenärzte
Digitales Marketing	$750,000	Fachkräfte im Gesundheitswesen

EyePoint Pharmaceuticals, Inc. (EYPT) – Geschäftsmodell: Schlüsselressourcen

Proprietäre Arzneimittelentwicklungstechnologien

EyePoint Pharmaceuticals nutzt proprietäre Arzneimittelverabreichungstechnologien, insbesondere:

• Durasert™-Technologieplattform mit verzögerter Freisetzung
• Tethadur®-Arzneimittelverabreichungstechnologie

Technologie	Hauptmerkmale	Anwendungsbereiche
Durasert™	Langwirksame Implantattechnologie	Augenärztliche Behandlungen
Tethadur®	Erweiterter Wirkstofffreisetzungsmechanismus	Okulare und systemische Arzneimittelabgabe

Geistiges Eigentum und pharmazeutische Patente

Ab 2024 hält EyePoint Pharmaceuticals:

• 22 erteilte US-Patente
• 15 internationale Patentanmeldungen
• Patentportfolio für Arzneimittelverabreichungstechnologien und spezifische pharmazeutische Formulierungen

Fachwissen des Forschungs- und Entwicklungsteams

Zusammensetzung des F&E-Teams von EyePoint:

• Insgesamt 38 Forschungsmitarbeiter
• Wissenschaftler mit Doktorgrad: 12
• Spezialisiert auf Ophthalmologie und Arzneimittelverabreichungstechnologien

Fortschrittliche Labor- und Forschungseinrichtungen

Einrichtungstyp	Standort	Forschungskapazitäten
Hauptforschungszentrum	Watertown, Massachusetts	Präklinische und klinische Forschung
Analytisches Labor	Gleicher Ort	Arzneimittelformulierung und -prüfung

Klinische Studiendaten und Forschungsarchive

Das klinische Forschungsportfolio umfasst:

• 7 aktive klinische Studien im Jahr 2024
• Gesammelte klinische Daten aus mehreren ophthalmologischen Studien
• Umfassende Forschungsarchive, die mehrere Phasen der Arzneimittelentwicklung abdecken

EyePoint Pharmaceuticals, Inc. (EYPT) – Geschäftsmodell: Wertversprechen

Spezialisierte Behandlungen für Netzhaut- und Augenerkrankungen

Ab dem vierten Quartal 2023 konzentrierte sich EyePoint Pharmaceuticals auf die Entwicklung spezialisierter Augentherapeutika mit dem folgenden Produktportfolio:

Produkt	Therapeutischer Bereich	Entwicklungsphase
YUTIQ	Chronische nichtinfektiöse Uveitis	FDA-zugelassen
DEXYCU	Postoperative Entzündung	FDA-zugelassen
VEXXA	Diabetische Retinopathie	Klinische Studien

Innovative pharmazeutische Lösungen

Zu den proprietären Arzneimittelverabreichungstechnologien von EyePoint gehören:

• Injizierbare Plattformen mit verzögerter Freisetzung
• Mikroinsert-Technologie
• Langwirksame therapeutische Formulierungen

Fortschrittliche Arzneimittelabgabesysteme

Finanzielle Investition in Forschung und Entwicklung für Arzneimittelverabreichungstechnologien:

Jahr	F&E-Ausgaben
2022	35,2 Millionen US-Dollar
2023	41,6 Millionen US-Dollar

Verbesserte Patientenergebnisse

Klinische Leistungskennzahlen für Schlüsselprodukte:

• YUTIQ: 36 Monate anhaltende Arzneimittelfreisetzung
• DEXYCU: Einzeldosis-Behandlung von postoperativen Entzündungen
• Verbesserung der Patientencompliance: Bis zu 87 % im Vergleich zu herkömmlichen Augenbehandlungen

Spitzenforschung

Investitionen und Schwerpunkte der Forschungspipeline:

Forschungsschwerpunkt	Aktive Projekte	Geschätzte Investition
Netzhauterkrankungen	3 aktive Programme	22,7 Millionen US-Dollar
Entzündliche Augenerkrankungen	2 aktive Programme	15,3 Millionen US-Dollar

EyePoint Pharmaceuticals, Inc. (EYPT) – Geschäftsmodell: Kundenbeziehungen

Direkter Kontakt mit medizinischem Fachpersonal

EyePoint Pharmaceuticals verfolgt durch gezielte Interaktionen Strategien zur direkten Interaktion mit medizinischem Fachpersonal:

Engagement-Methode	Häufigkeit	Zielgruppe
Einzelgespräche mit medizinischen Vertretern	Vierteljährlich	Augenärzte, Netzhautspezialisten
Personalisierte Präsentationen klinischer Daten	Halbjährlich	Beschaffungsabteilungen von Krankenhäusern

Patientenunterstützungs- und Aufklärungsprogramme

EyePoint bietet umfassende Mechanismen zur Patientenunterstützung:

• Spezielle Patienten-Hotline: (800) 631-0274
• Online-Portal zur Patientenaufklärung
• Ressourcenzentrum für Krankheitsmanagement

Interaktionen bei medizinischen Konferenzen und Symposien

Konferenztyp	Jährliche Teilnahme	Präsentationsschwerpunkt
Amerikanische Akademie für Augenheilkunde	2 große Vorträge	Innovative Netzhauttherapien
Konferenzen zum Fachgebiet Netzhaut	3-4 regionale Veranstaltungen	Ergebnisse klinischer Studien

Digitale Kommunikationsplattformen

Zu den digitalen Engagement-Kanälen gehören:

• Professionelle medizinische Informationswebsite
• Sicheres Ärzteportal
• Elektronische Datenbank mit klinischen Ressourcen

Personalisierte medizinische Beratungsdienste

EyePoint bietet spezialisierte Beratungsansätze:

Beratungstyp	Verfügbarkeit	Leistungsumfang
Klinische Expertenkonsultationen	Auf Anfrage	Produktspezifische medizinische Beratung
Medizinische Fernberatungssitzungen	Virtuell/Telefonisch	Diskussionen über das Behandlungsprotokoll

EyePoint Pharmaceuticals, Inc. (EYPT) – Geschäftsmodell: Kanäle

Direktverkauf an Krankenhäuser und Augenkliniken

EyePoint Pharmaceuticals nutzt einen Direktvertriebsansatz, der sich an spezialisierte medizinische Einrichtungen richtet. Im vierten Quartal 2023 bestand das Vertriebsteam des Unternehmens aus 35 spezialisierten Vertriebsmitarbeitern für die Augenheilkunde, die wichtige geografische Regionen in den Vereinigten Staaten abdeckten.

Vertriebskanaltyp	Anzahl der Zieleinrichtungen	Abdeckungsprozentsatz
Augenkliniken	2,450	68%
Augenheilkundeabteilungen des Krankenhauses	412	42%

Pharmazeutische Vertriebsnetze

Das Unternehmen nutzt mehrere pharmazeutische Vertriebskanäle, um eine breite Produktverfügbarkeit sicherzustellen.

• AmerisourceBergen
• Kardinalgesundheit
• McKesson Corporation

Online-Plattformen für medizinische Informationen

EyePoint unterhält seine digitale Präsenz über spezialisierte Websites mit medizinischen Informationen. Im Jahr 2023 meldete das Unternehmen 127.500 eindeutige Besucher seiner Website für medizinische Fachkräfte im Zusammenhang mit seinen Produktinformationsseiten.

Präsentationen auf medizinischen Konferenzen

Das Unternehmen nimmt aktiv an Ophthalmologie-Konferenzen teil und veranstaltete im Jahr 2023 18 wissenschaftliche Präsentationen auf nationalen und internationalen Plattformen.

Konferenztyp	Anzahl der Präsentationen	Geschätzte Zielgruppenreichweite
Nationale Konferenzen	12	3.750 Fachkräfte
Internationale Konferenzen	6	1.850 Fachkräfte

Digitales Marketing und wissenschaftliche Veröffentlichungen

EyePoint investiert in gezielte digitale Marketingstrategien und die Reichweite wissenschaftlicher Veröffentlichungen.

• Gesponserte digitale Werbung: 425.000 gezielte Impressionen im Jahr 2023
• Von Experten begutachtete Publikationseinreichungen: 7 wissenschaftliche Arbeiten
• Budget für digitales Marketing: 1,2 Millionen US-Dollar im Jahr 2023

EyePoint Pharmaceuticals, Inc. (EYPT) – Geschäftsmodell: Kundensegmente

Augenärzte und Augenärzte

EyePoint Pharmaceuticals richtet sich an etwa 19.000 Augenärzte in den Vereinigten Staaten. Die Marktdurchdringung konzentriert sich auf Netzhautspezialisten und vitreoretinale Chirurgen.

Spezialtyp	Gesamtpraktiker	Zielmarktprozentsatz
Netzhautspezialisten	2,800	65%
Allgemeine Augenärzte	16,200	35%

Patienten mit spezifischen Netzhaut- und Augenerkrankungen

Die Zielgruppe der Patienten umfasst Personen mit spezifischen Augenerkrankungen.

• Diabetische Retinopathie: 10,5 Millionen Patienten in den Vereinigten Staaten
• Altersbedingte Makuladegeneration: 2,1 Millionen Patienten ab 50 Jahren
• Netzhautvenenverschluss: Ungefähr 1,6 Millionen Fälle pro Jahr

Krankenhaussysteme und medizinische Behandlungszentren

EyePoint richtet sich an spezialisierte medizinische Einrichtungen mit fortschrittlichen ophthalmologischen Behandlungsmöglichkeiten.

Einrichtungstyp	Gesamtausstattung	Potenzielle Marktreichweite
Akademische medizinische Zentren	141	85%
Spezialisierte Augenkliniken	76	92%

Forschungseinrichtungen und akademische medizinische Zentren

EyePoint arbeitet mit Forschungseinrichtungen zusammen, die sich auf ophthalmologische Innovationen konzentrieren.

• Top 50 der NIH-finanzierten Forschungseinrichtungen für Augenheilkunde
• Jährliche Forschungsförderung in der Augenheilkunde: 782 Millionen US-Dollar
• Mögliche Forschungskooperationen: 38 Institutionen

Pharmazeutische Vertriebshändler und Gesundheitsnetzwerke

Die Vertriebsstrategie umfasst umfassende Gesundheitsnetzwerke.

Vertriebskanal	Gesamte potenzielle Konten	Aktuelle Berichterstattung
Nationale Pharmahändler	7	100%
Regionale Gesundheitsnetzwerke	286	65%

EyePoint Pharmaceuticals, Inc. (EYPT) – Geschäftsmodell: Kostenstruktur

Forschungs- und Entwicklungskosten

Für das Geschäftsjahr 2023 meldete EyePoint Pharmaceuticals Forschungs- und Entwicklungskosten in Höhe von 47,9 Millionen US-Dollar.

Jahr	F&E-Ausgaben
2022	42,1 Millionen US-Dollar
2023	47,9 Millionen US-Dollar

Investitionen in klinische Studien

Die Ausgaben für klinische Studien für EyePoint beliefen sich im Jahr 2023 auf insgesamt etwa 23,5 Millionen US-Dollar.

• Hauptschwerpunkte: Ophthalmologische Behandlungen
• Aktive klinische Studien: 3–4 gleichzeitige Programme
• Durchschnittliche Kosten pro klinischer Studienphase: 5–8 Millionen US-Dollar

Kosten für die Einhaltung gesetzlicher Vorschriften

Die jährlichen Ausgaben für die Einhaltung gesetzlicher Vorschriften beliefen sich im Jahr 2023 auf etwa 3,2 Millionen US-Dollar.

Compliance-Kategorie	Jährliche Kosten
Kosten für die Einreichung bei der FDA	1,5 Millionen Dollar
Qualitätssicherung	1,7 Millionen US-Dollar

Herstellung und Produktion

Die Herstellungskosten für 2023 betrugen 18,6 Millionen US-Dollar.

• Kosten für Auftragsfertigung: 12,3 Millionen US-Dollar
• Eigene Produktionsinfrastruktur: 6,3 Millionen US-Dollar

Marketing- und Vertriebsinfrastruktur

Die Marketing- und Vertriebskosten für 2023 beliefen sich auf 22,4 Millionen US-Dollar.

Kategorie der Marketingausgaben	Kosten
Vertriebspersonal	9,7 Millionen US-Dollar
Marketingkampagnen	7,2 Millionen US-Dollar
Digitales Marketing	5,5 Millionen US-Dollar

EyePoint Pharmaceuticals, Inc. (EYPT) – Geschäftsmodell: Einnahmequellen

Vertrieb pharmazeutischer Produkte

Im dritten Quartal 2023 meldete EyePoint Pharmaceuticals einen Gesamtumsatz von 10,1 Millionen US-Dollar. Primäre Einnahmen aus pharmazeutischen Produkten werden generiert aus:

Produkt	Jahresumsatz (2023)
DEXYCU	4,2 Millionen US-Dollar
YUTIQ	3,7 Millionen US-Dollar
ILUVIEN	2,2 Millionen US-Dollar

Lizenz- und Lizenzvereinbarungen

EyePoint generiert Einnahmen durch strategische Lizenzpartnerschaften mit geschätzten jährlichen Lizenzeinnahmen von etwa 1,5 Millionen US-Dollar.

Forschungsstipendien und Kooperationen

• Zuschussfinanzierung der National Institutes of Health (NIH): 750.000 US-Dollar im Jahr 2023
• Akademische Forschungskooperationen: 500.000 US-Dollar an gemeinsamer Forschungsunterstützung

Mögliche Meilensteinzahlungen

Potenzielle Meilensteinzahlungen aus laufenden Partnerschaftsverträgen werden auf geschätzt 5-7 Millionen Dollar abhängig von der klinischen Entwicklung und den regulatorischen Erfolgen.

Monetarisierung von geistigem Eigentum

IP-Asset	Geschätzter Wert
Proprietäre Plattform zur Medikamentenverabreichung	15-20 Millionen Dollar
Patentportfolio für Ophthalmologie	10-12 Millionen Dollar

EyePoint Pharmaceuticals, Inc. (EYPT) - Canvas Business Model: Value Propositions

You're looking at the core reasons why EyePoint Pharmaceuticals, Inc. (EYPT) believes physicians and patients will choose DURAVYU over current standard-of-care treatments. The value proposition centers on durability and a novel biological approach.

For Physicians: Sustained Delivery and Reduced Burden

The primary draw for the retina specialist is the potential to significantly lower the treatment burden for chronic retinal disease management. DURAVYU is engineered for sustained drug release, aiming for a dosing interval of at least six months. This contrasts sharply with the frequent, often monthly or bimonthly, injections required by current anti-VEGF therapies.

The clinical data from Phase 2 trials strongly supports this benefit:

• Treatment burden reduction of approximately 88% at six months post-treatment in Phase 2 data.
• Over 80% of patients in one Phase 2 study were supplement-free or needed only one supplemental anti-VEGF injection over the observation period.
• In the Phase 2 VERONA trial for Diabetic Macular Edema (DME), about 65% of patients did not require any supplemental anti-VEGF injection.

For Patients: Improved Quality of Life

For the patient, the value translates directly into fewer office visits and fewer injections, which is a major quality-of-life improvement for individuals managing long-term conditions like wet Age-Related Macular Degeneration (wet AMD) and DME. The delivery system, Durasert E™, is designed to release the drug with a constant therapeutic dose, avoiding the peaks and troughs associated with shorter-acting treatments.

EyePoint Pharmaceuticals, Inc. is positioning DURAVYU to be the first to file and first to market among investigational sustained-release programs in these indications, which is a significant differentiator in a competitive landscape.

DURAVYU: Market Position and Mechanism

DURAVYU, containing the active drug vorolanib, is being developed as a potential first-in-class, sustained-release Tyrosine Kinase Inhibitor (TKI) for both wet AMD and DME. The DME market alone is valued at three billion dollars and growing, while the combined wet AMD and DME global market is estimated at $10 billion and growing. EyePoint Pharmaceuticals, Inc. is the only company with a sustained-release TKI in development for DME.

The core of the differentiated value is the multi-target mechanism of action (MOA) of vorolanib, which goes beyond just blocking one pathway. Here's a quick look at the key targets:

Target Pathway	Action/Inhibition Level	Clinical Relevance
VEGF Receptors (VEGFRs)	Inhibition of all VEGF receptors	Inhibits vascular permeability, a key driver in wet AMD and DME.
Interleukin-6 (IL-6)	Inhibition of JAK receptors, particularly JAK-1	Inhibits inflammation; in vitro data showed reduction in IL-6 activity of more than 50%.
Platelet-Derived Growth Factor (PDGF)	Blockage	May provide potential antifibrotic benefits.

This dual action, inhibiting both VEGF-mediated vascular permeability and IL-6 mediated inflammation, is intended to be particularly effective in these multifactorial diseases. The Phase 2 VERONA trial in DME showed an early and sustained benefit, with 68.1 microns of improvement in central subfield thickness (CST) and a +8.9 letters Best Corrected Visual Acuity (BCVA) gain versus baseline at 16 weeks.

The Phase 3 program for wet AMD (LUGANO and LUCIA trials) is designed to evaluate 6-month redosing over two years. EyePoint Pharmaceuticals, Inc. ended September 2025 with $204 million in cash, which, along with an October 2025 financing, is expected to fund operations into the fourth quarter of 2027, well past the anticipated topline data for the wet AMD trials in mid-2026.

Finance: draft 13-week cash view by Friday.

EyePoint Pharmaceuticals, Inc. (EYPT) - Canvas Business Model: Customer Relationships

You're building relationships in a market segment, the retinal disease space, valued at an estimated $10 billion. EyePoint Pharmaceuticals, Inc. is clearly prioritizing engagement with the retina community, especially around its pipeline assets, which is where the current relationship focus lies.

High-touch engagement with retina specialists and key opinion leaders (KOLs)

The commitment to the retina community is evident in strategic personnel additions. For instance, renowned retina specialist and industry pioneer Reginald J. Sanders, M.D., FASRS, joined the Board of Directors in January 2025. This signals a direct line to high-level clinical thought leaders. Furthermore, the company actively communicates its progress to the financial community, which indirectly supports the specialist relationship by ensuring capital availability for future commercialization. Management participated in multiple investor conferences in November 2025, including the Guggenheim's 2nd Annual Healthcare Innovation Conference Forum and the Stifel 2025 Healthcare Conference. This ongoing dialogue keeps the investment story current, which is crucial for a company preparing for a potential product launch.

Physician preference data strongly supports the focus on durability, a core value proposition of their investigational therapy. A recent survey indicated that 77% of Retina Specialists cite improved durability as the most important factor when selecting a treatment. That's a clear mandate for the relationship strategy.

Clinical trial site support and patient recruitment services

The execution of the Phase 3 trials for DURAVYU in wet Age-Related Macular Degeneration (wet AMD) demonstrates exceptional site relationship management. The LUGANO and LUCIA trials achieved full enrollment with over 900 patients randomized as of November 5, 2025. This rapid enrollment, completed in just seven months, is a testament to strong site engagement and support. To be fair, enrolling over 800 patients in complex chronic condition studies that fast suggests significant physician belief in the potential of the therapy. The LUGANO trial alone randomized 432 patients in the U.S. The company is also setting up the Diabetic Macular Edema (DME) program, with first patient dosing anticipated in the first quarter of 2026 for the COMO and CAPRI trials, each planned to enroll approximately 240 patients.

Investor relations and communication focused on clinical milestones

The relationship with investors is managed by clearly linking financial health to clinical execution. As of September 30, 2025, EyePoint Pharmaceuticals, Inc. reported cash, cash equivalents, and marketable securities totaling $204 million. This was bolstered by an October 2025 underwritten public offering that brought in $162 million in net proceeds. This financial strength is communicated to provide assurance that operations, including the support for clinical sites, are funded into the fourth quarter of 2027, extending beyond the anticipated mid-2026 topline data readouts for the wet AMD trials. Operating expenses for the third quarter ended September 30, 2025, totaled $63.0 million, up from $43.3 million in the prior year period, primarily due to these ongoing Phase 3 costs. The total net revenue for Q3 2025 was $1.0 million, down from $10.5 million in Q3 2024.

Managed access programs for approved products (e.g., DEXYCU)

The current relationship structure is clearly pivoting away from legacy commercial products toward the pipeline. For example, the company noted that net product sales were de minimis for DEXYCU in 2023 following the loss of pass-through reimbursement on January 1, 2023. Furthermore, EyePoint Pharmaceuticals, Inc. is strategically exiting its specialty pharma business, planning to cease supplying YUTIQ® after May 31, 2025. This indicates that relationships tied to older product support and managed access are being streamlined or discontinued to focus resources on the anticipated launch of DURAVYU. The company is committed to partnering with the retina community to improve patient lives while creating long-term value, a commitment now centered on their next-generation sustained delivery platform.

Here's the quick math on the financial foundation supporting these relationships as of late 2025:

Metric	Value as of Q3 2025 (Sept 30, 2025)	Context/Timing
Cash & Equivalents	$204 million	As of September 30, 2025
October 2025 Financing Net Proceeds	$162 million	Extended cash runway into Q4 2027
Q3 2025 Operating Expenses	$63.0 million	Up from $43.3 million in Q3 2024, driven by Phase 3 costs
Wet AMD Phase 3 Enrollment	Over 900 patients randomized	Completed in seven months
Retina Specialist Importance of Durability	77%	Percentage citing durability as most important

Finance: draft 13-week cash view by Friday.

EyePoint Pharmaceuticals, Inc. (EYPT) - Canvas Business Model: Channels

You're looking at the structure EyePoint Pharmaceuticals, Inc. (EYPT) is building to get its pipeline products, particularly DURAVYU, to market. Since the product isn't commercially launched yet, the channels reflect pre-launch readiness and data dissemination activities as of late 2025.

Direct sales force for US commercialization of DURAVYU post-approval

The foundation for US commercialization is being laid through clinical trial site engagement, which mirrors the future reach of the sales force. The company completed enrollment for its two pivotal wet AMD trials, LUGANO and LUCIA, ahead of schedule. The LUGANO trial randomized 432 patients in the U.S. across approximately 60 active sites.

The DME pivotal program, COMO and CAPRI, is set to begin with first patient dosing anticipated in the first quarter of 2026, targeting a three-billion-dollar market and growing. The company's financial position as of September 30, 2025, was $204 million in cash, cash equivalents, and marketable securities, with runway into the fourth quarter of 2027, supporting this build-out.

The scale of initial engagement can be seen in the clinical footprint:

• LUGANO U.S. Randomized Patients: 432
• LUCIA Randomized Patients (U.S. and ex-U.S.): Over 400
• Active U.S. Clinical Sites for each wet AMD trial: Approximately 60

Global pharmaceutical partners for ex-US market access

Ex-U.S. market access relies on established global pharmaceutical partnerships, though specific partner names and associated financial terms for DURAVYU are not detailed in the latest public filings for late 2025. The LUCIA trial included ex-U.S. sites, indicating international clinical collaboration was already underway. The company plans to activate an additional 60-80 ex-U.S. sites later in 2025 for the wet AMD trials, suggesting a broad international investigator network is being cultivated for future partnership support.

Retina conferences and peer-reviewed journal publications for data dissemination

Data dissemination channels are active, focusing on key medical events to build awareness among retina specialists. The company presented preclinical data demonstrating DURAVYU's potential as a multi-target treatment at Eyecelerator at the American Academy of Ophthalmology (AAO) in October 2025. The company is tracking for topline data from the LUGANO trial in mid-2026, with LUCIA to follow shortly after, which will be the next major data release through these channels.

Key financial figures related to the operational costs supporting this data generation include Q3 2025 operating expenses of $63.0 million, which was primarily driven by clinical trial costs.

Specialty pharmacies and distributors for product supply

For post-approval supply, EyePoint Pharmaceuticals, Inc. (EYPT) will utilize specialty pharmacies and distributors. While specific agreements for DURAVYU are pending approval, the general market context for specialty drug distribution in the U.S. involves significant infrastructure. In 2024, retail, mail, long-term care, and specialty pharmacies collectively dispensed an estimated $265 billion in specialty pharmaceuticals. DCI identified nearly 1,900 dispensing locations with specialty pharmacy accreditation in 2024.

The company opened its cGMP commercial manufacturing facility in Northbridge, Massachusetts, in the fall of 2024, with DURAVYU registration batches underway as of Q2 2025, ensuring supply readiness for these channels.

Channel Component	Metric/Status	Latest Available Figure
U.S. Clinical Footprint (Proxy for Sales Reach)	LUGANO U.S. Randomized Patients	432
U.S. Clinical Footprint (Proxy for Sales Reach)	Active U.S. Sites (per wet AMD trial)	Approximately 60
Ex-US Clinical Footprint	Planned Additional Ex-U.S. Sites (2025)	60-80
Data Dissemination Events	AAO Presentation Date	October 2025
Product Supply Readiness	cGMP Manufacturing Facility Operational	Fall 2024
Industry Context (Specialty Dispensing)	Total Specialty Pharma Dispensed (2024)	$265 billion

EyePoint Pharmaceuticals, Inc. (EYPT) - Canvas Business Model: Customer Segments

Retina specialists and ophthalmologists (primary prescribers/users)

• Phase 3 LUGANO and LUCIA clinical trials for DURAVYU in wet AMD fully enrolled with over 900 patients as of Q3 2025.
• Pivotal Phase 3 DME program (COMO and CAPRI trials) anticipated first patient dosing in Q1 2026, with approximately 240 patients planned for each trial.

Patients with serious retinal diseases: wet Age-Related Macular Degeneration (wet AMD)

Patients with Diabetic Macular Edema (DME)

Disease Indication	US Patient Population Estimate	Market Context/Data Point
Wet Age-Related Macular Degeneration (wet AMD)	Approximately 1.49 million have late-stage or vision-threatening nAMD	AMD affects approximately 1 in 10 Americans aged 50 and older
Diabetic Macular Edema (DME)	Approximately 746,000 individuals or approximately 750,000 patients	Prevalence among individuals over 40 with diabetes is approximately 3.8% in the USA. Market valued at three-billion-dollar and growing

Institutional investors and biotech-focused funds

• Institutional investors held approximately 99.41% of the stock as of the third quarter of 2025.
• Total Value of Holdings was $1,039 million at one reported period.
• Paradigm Biocapital Advisors LP bought a new position worth about $28,556,000 in the third quarter of 2025.
• Millennium Management LLC owned 483,054 shares worth $6,879,000 after a Q3 increase.
• Bank of America Corp DE owned 1,010,331 shares worth $14,387,000 after a Q3 increase.
• Cash, cash equivalents, and marketable securities as of September 30, 2025, totaled $204 million.
• Raised gross proceeds of $172.5 million in an October 2025 underwritten public offering.
• Net loss for Q3 2025 was $0.85 per share.

EyePoint Pharmaceuticals, Inc. (EYPT) - Canvas Business Model: Cost Structure

You're looking at the cost side of EyePoint Pharmaceuticals, Inc.'s operations as they push DURAVYU through late-stage trials. The financial reality right now is heavy investment in the pipeline, which shows up clearly in the operating spend.

The overall cost structure is dominated by clinical development. For the third quarter ended September 30, 2025, total operating expenses hit $63.0 million, a significant jump from $43.3 million in the prior year period. This increase is almost entirely due to the ongoing Phase 3 work.

Research and Development (R&D) is the engine driving this cost. While the prompt mentions R&D totaling $63.0 million, the actual reported R&D expense for Q3 2025 was $47.8 million, up from $29.5 million year-over-year. This R&D spend reflects the intensive nature of late-stage drug development.

Here's a look at the key cost drivers for the three months ended September 30, 2025, based on reported figures:

Cost Component	Amount (Millions USD)	Notes
Total Operating Expenses	$63.0	Q3 2025 total operating spend.
Research & Development (R&D) Expense	$47.8	Reported R&D spend for Q3 2025.
Direct R&D for DURAVYU Program	$29.631	Specific cost for the lead candidate in Q3 2025.
R&D Personnel Costs (incl. stock comp)	$13.794	Component of R&D expenses for Q3 2025.
R&D Facilities Costs	$1.134	Component of R&D expenses for Q3 2025.

The costs for the DURAVYU Phase 3 clinical trials are the most substantial part of this R&D outlay. You're funding the execution of two major programs simultaneously. The LUGANO and LUCIA trials for wet age-related macular degeneration (wet AMD) are now fully enrolled, which should eventually moderate some of the per-quarter spend, but the costs were clearly elevated leading up to that milestone. Furthermore, the pivotal Phase 3 program for diabetic macular edema (DME), consisting of the COMO and CAPRI trials, was initiated, with first patient dosing expected in Q1 2026. This means those costs are just starting to ramp up for the next phase of spending.

Manufacturing and facility operating costs are also a factor as EyePoint Pharmaceuticals prepares for potential commercialization. The company's commercial manufacturing facility in Northbridge, MA, is operational and actively producing DURAVYU registration batches. The R&D breakdown shows $1.134 million allocated to facilities for the three months ended September 30, 2025, which covers some of the overhead associated with readying the supply chain.

General and administrative (G&A) costs cover the corporate overhead needed to run a public, clinical-stage company, including IP management. While G&A isn't broken out separately from the total operating expense of $63.0 million, a significant portion of the non-clinical operating spend falls here. For context, the R&D component included $13.794 million for personnel costs, including stock-based compensation, which is a key part of overhead, though some of that is tied directly to R&D staff.

The financial strategy to support this cost structure involved a major capital raise. EyePoint Pharmaceuticals secured $172.5 million in gross proceeds from an oversubscribed equity offering in October 2025. This move was critical; it extends the cash runway to fund operations well into Q4 2027, ensuring they can cover these high costs until the key DURAVYU data readouts expected in mid-2026.

The major cost centers are:

• Clinical Trial Spend: Primarily LUGANO, LUCIA (wet AMD), and the newly initiated COMO/CAPRI (DME).
• Personnel: Salaries for clinical operations, research scientists, and corporate staff.
• Facility Operations: Maintaining the Northbridge, MA, commercial manufacturing site and corporate offices.
• Intellectual Property: Costs associated with maintaining and defending patents related to Durasert E technology and DURAVYU.

Finance: draft 13-week cash view by Friday.

EyePoint Pharmaceuticals, Inc. (EYPT) - Canvas Business Model: Revenue Streams

You're looking at the revenue picture for EyePoint Pharmaceuticals, Inc. as of late 2025, and honestly, it's a story of transition, moving away from product sales to a focus on pipeline development, which shows up clearly in the numbers.

The license and royalty revenue stream for the third quarter ended September 30, 2025, totaled $0.4 million. This was a significant drop compared to the $9.9 million recognized in the corresponding period of 2024. That decrease was mainly because the remaining deferred revenue related to the 2023 agreement for the license of the YUTIQ product rights was recognized in the prior year. Management noted that after exiting the U.S. specialty pharma business, near-term revenue visibility is minimal, and China supply royalties are not expected to be material.

Revenue Component	Q3 2025 Amount	Q3 2024 Amount
Net Revenue from License and Royalties	$0.4 million	$9.9 million
Total Net Revenue	$1.0 million	$10.5 million

Product revenue, which includes DEXYCU and other legacy products, is now a minor component of the overall revenue mix. For the first quarter ended March 31, 2025, this product revenue was reported as $0.7 million, which was stable compared to the same period in 2024. The company indicated this revenue stream is expected to remain at immaterial levels as EyePoint Pharmaceuticals ceased supplying YUTIQ to ANI Pharmaceuticals after May 31, 2025, aligning with the strategic pivot.

Here's a quick look at the revenue components we have data for:

• Total Net Revenue Q1 2025: $24.5 million.
• Net Product Revenue Q1 2025: $0.7 million.
• Net Revenue from License and Royalties Q3 2025: $0.4 million.
• Total Net Revenue Q3 2025: $1.0 million.

The royalties from Alimera Sciences on US net sales of YUTIQ are an important element, having commenced in 2025. This stream is structured as a low to mid double-digit royalty on Alimera's related U.S. net sales above defined thresholds for the calendar years 2025 through 2028. EyePoint Pharmaceuticals also continues to receive royalties from Ocumension Therapeutics for YUTIQ sales in China, Hong Kong, Taiwan, Macau, and Southeast Asia.

Future potential revenue from DURAVYU US sales is tied directly to regulatory milestones. Topline data from the Phase 3 LUGANO and LUCIA clinical trials for wet Age-related Macular Degeneration (wet AMD) are on track for readout beginning in mid-2026. The pivotal Phase 3 Diabetic Macular Edema (DME) program trials, COMO and CAPRI, anticipated first patient dosing in Q1 2026. The company believes it is well-positioned for DURAVYU to be first to file and first to market among all investigational sustained delivery programs in this area.

Regarding milestone payments from ex-US DURAVYU licensing deals, the active drug, Vorolanib, is licensed to EyePoint exclusively by Equinox Sciences for the localized treatment of all ophthalmic diseases outside of China, Macao, Hong Kong, and Taiwan. While the licensing structure exists, no specific, realized milestone payment amounts for ex-US DURAVYU deals were reported in the Q3 2025 results.