EyePoint Pharma shares jump on FDA approval of Yutiq implant

EyePoint Pharma shares jump on FDA approval of Yutiq implant

EyePoint Pharmaceuticals Inc. shares EYPT, +5.56% soared 8% in premarket trade Monday, after the company said the U.S. Food and Drug Administration has approved its Yutiq implant for the treatment of uveitis, a leading cause of blindness. Yutiq is a micro-insert that is designed to release fluocinolone acetonide over a three-year period and that can be administered in a doctor’s office. :Chronic non-infectious uveitis affecting the posterior segment of the eye is the third leading cause of blindness in the U.S.,” Chief Executive Nancy Lurker said in a statement. The company is expecting to launch the product in the first quarter of 2019. EyePoint shares have gained 199% in 2018, while the S&P 500 SPX, +1.42% has gained 3.5%.

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