Eyenovia EYEN Stock News

Eyenovia Inc (NASDAQ: EYEN) is rocketing in the market this morning, and for good reason. The company announced that it has entered into an exclusive license agreement surrounding a treatments for progressive myopia and presbyopia. Here’s what’s going on.

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EYEN Stock Is Climbing On Licensing Agreement

In the press release, Eyenovia said that it entered into a licensing agreement with Arctic Vision. Under the terms of the agreement, Arctic Vision will develop and commercialize MicroPine and MicroLine in Greater China and South Korea.

Of course, this move comes with money.

EYEN said that under the terms of the agreement, it will receive up to $45.75 million in upfront and milestone payments. Moreover, Eyenovia will supply the products under purchase orders from Arctic Vision, while receiving mid-single-digit royalties on sales.

In a statement, Dr. Sean Ianchulev, CEO and CMO at EYEN, had the following to offer:

This licensing agreement with Arctic Vision grows our commercial reach to address some of the largest progressive myopia markets in the world. With the continued validation of our therapeutic approach, the agreement also provides non-dilutive capital to further support our planned launch of MicroStat in the United States next year, as well as the ongoing development of our late stage ophthalmology pipeline including MicroPine for progressive myopia and MicroLine for improvement in near vision.

This News Is Huge!

The news released by Eyenovia proved to be overwhelmingly positive. This licensing agreement will drive significant revenue for the company, while creating a recurring revenue stream, should the treatments be developed and commercialized as the agreement suggests in China and South Korea. All in all, this makes EYEN one to watch closely.

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