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EyePoint, Inc.
8/4/2021
Norma, and I'll be your conference operator today. At this time, I would like to welcome everyone to iPoint Pharmaceuticals' second quarter 2021 financial results and recent corporate developments conference call. There will be a question and answer session to follow at the completion of the prepared remarks. Please be advised that the call is being recorded at the company's request. I would now like to turn the conference over to George Elston, Chief Financial Officer of iPoint Pharmaceuticals.
Thank you, and thank you all for joining us on today's conference call to discuss iPoint Pharmaceutical's second quarter 2021 financial results and recent corporate developments. With me today is Nancy Lurker, President and Chief Executive Officer, Dr. Jay Duker, Chief Strategic Scientific Officer, and Scott Jones, Chief Commercial Officer. Nancy will begin with a review of recent corporate updates. Dr. Duker will then discuss pipeline developments for EYP 1901 and and Scott will comment on recent progress made on our commercial activities. I will close with commentary on the second quarter 2021 financial results. We will then open up the call for your questions. Earlier this morning, we issued a press release detailing our financial results as well as commercial and operational developments. A copy of the release can be found in the Investor Relations tab on the corporate website www.ipointpharma.com. Before we begin our formal comments, I'll remind you that various remarks we will make today constitute forward-looking statements for the purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. These include statements about our future expectations, clinical developments, and regulatory matters and timelines, the potential success of our products and product candidates, financial projections, and our plans and prospects, actual results, may differ materially from those indicated by these forward-looking statements as a result of various important factors, including those discussed in the risk factors section of our most recent annual report on Form 10-K, which is filed and is on file with the SEC, and in other filings that we may make with the SEC in the future. Any forward-looking statements represent our views as of today only. While we may elect to update these forward-looking statements at some point in the future, we specifically disclaim any obligation to do so, even if our views change. Therefore, you should not rely on these forward-looking statements as representing our views as of any date subsequent to today. I'll now turn the call over to Nancy Lurker, President and Chief Executive Officer of I-Point Pharmaceuticals.
Thank you, George. Good morning, everyone, and thank you for joining us. The second quarter was another productive one for EyePoint Pharmaceuticals, as we continue to create ocular products that prevent blindness and disrupt the current, often difficult treatment paradigms, helping patients see life longer, as well as grow demand for our commercial products, delivering on our overarching mission of bringing innovation to patients with serious ophthalmic diseases. Before turning the call over to my colleagues, I'd like to discuss our most recent achievements from the quarter. First and foremost, our team continues to execute on our Phase I DAWBO trial for our lead pipeline asset, EYP1901, a potential twice-yearly treatment for wet age-related macular degeneration, or otherwise known as wet AMD. And we remain on track to report interim data in the fourth quarter of this year. In just the first six months of 2021 alone, we initiated our Phase I trial, dosed the first patient, and completed trial enrollment. Notably, this quarter, we reported very encouraging 30-day safety data for all cohorts from the Davio trial, citing no serious adverse events. We remain very pleased with our progress, and we are looking forward to reporting interim six-month safety and efficacy results when we have a complete top-line data set in the fourth quarter of this year. In addition, based on the Davio trial results, we anticipate initiating Phase II trials next year for diabetic retinopathy and retinal vein occlusion. We also expect to start a phase three trial for UTIC 5.0 in the fourth quarter of this year. UTIC 5.0 is a potential twice yearly sustained delivery treatment for chronic uveitis affecting the posterior segment of the eye. UTIC 5.0 will be filed as an SMDA upon completion of this single phase three clinical trial. On the commercial front, we are thrilled to have recently announced the acceptance of a new category three CPT code for injecting medicines like Dexacute approved by the American Medical Association. The code becomes effective January 1st and provides an exciting opportunity to improve treatment options for both patients and ophthalmologists alike. We are pleased to be able to offer additional pathways for reimbursement for the administration of Dexacute starting in the first quarter of next year. We have seen significant increases in customer demand for both of our commercial products this quarter, and we're pleased to report another quarter of strong growth in net product revenues. Additionally, as discussed last quarter, we introduced a new siliconized needle for UTiQ, which we believe has driven new customer demand and is providing an enhanced experience for patients and physicians in administering UTiQ. We also recently announced the initiation of our Executive Scientific Advisory Board to help guide the company as we bring EYP1901 through the clinic and build our pipeline with new innovative and eyesight-saving products. We're honored to have this prestigious group of retinal surgeons advise us, and their involvement in the Scientific Advisory Board is a testament to the quality of our product pipeline and the potential that our DuraCert delivery technology represents. Finally, this quarter, iPoint Pharmaceuticals was included in the Russell 2000 and 3000 indices, an important signal of iPoint's financial strength throughout this year. iPoint's inclusion on each index is an exciting indicator of the market's confidence in the company we continue to build. I'd like to personally thank the incredible team at iPoint for our company's clinical and financial success, and we are excited to carry our positive momentum forward as we enter the third quarter of 2021. As mentioned, we are eager to report data for our EYP1901 Phase 1 trial in the fourth quarter of this year, drive continuous growth for our commercial products, and maintain our strong balance sheet. I'll now turn the call over to Dr. Jay Duker, our Chief Strategic Scientific Officer, to provide an update on our lead program, EYP1901, as well as other pipeline initiatives. Jay?
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