In 2016, Eyegate Pharmaceuticals Inc (NASDAQ:EYEG) bought Jade Therapeutics Inc. that advances locally managed, polymer-based offerings intended to cure poorly-served ophthalmic indications. The company made a strong R&D team and a corresponding preclinical pipeline of therapies for eye diseases.
In December, the CEO Ryan Breeneman, ceased employment, which was not the outcome of any disagreements pertaining to the firm’s financial accounting or reporting policies. Meanwhile, Stephen From has assumed the role of CEO in the interim. Some major elements that might govern stock price performance comprise the development process of company’s EGP-437 combination product. It will also look forward to EyeGate II Delivery System move to market.
Market would keenly wait to check how the company proceeds with regulatory course for EGP-437 combination product. The level of competition may vary with the firm competing against big biotech stock firms in the industry. The decision to buy biotech stocks largely depends on the progress rate of the ongoing trials. That said, the market will also check on Eyegate’s ability to get future financing if current liquidity is utilized for R&D in ongoing developments.
Eyegate preliminary posted revenue in the second quarter of FY2016. Revenue stood at $0.27 million for the 3Q2016. R&D expense came at $2.45 million for the same quarter of 2016, compared to $0.40 million for the comparable quarter of 2015. Furthermore, Eyegate continues to record losses with net loss from its continuing operations coming at -$3.38 million versus -$1.35 million for the third quarter of FY2015. The firm is anticipated to report financial numbers for its fourth quarter 2016 closed on December 31, 2016 in the last week of March.
On February 21, 2017, the shares price of EyeGate increased by almost 127% to $3.70 on a massive volume of 28.95 million shares exchanging hands. The company’s partnership with Valeant is a significant positive in a market segment which includes large pharmaceutical and biotechnology companies.