Wainwright Initiates Eyenovia With Almost 400% Upside

 

• HC Wainwright Matthew Caufield initiated coverage on Eyenovia Inc 
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  , focused on developing ophthalmic therapeutics based on the company’s microdose array print (MAP) platform and the Optejet spray device for optimizing topical corneal drug delivery. 
• The analyst initiated coverage with a Buy rating and a $12 price target.
• The analyst notes that Optejet spray provides high precision micro-dosing and has been characterized to have greater than an 85% success rate for ocular topical delivery compared to the 40-50% for traditional eyedroppers, along with instantaneous corneal surface coating that surpasses the ocular blink reflex. 
• Furthermore, Optejet’s volumetric control delivers approximately 8uL, comparable to the noted physiologic capacity of the tear film. In contrast, standard eye drops deliver upwards of 30-50uL, coinciding with prospective overdosing. 
• HC Wainwright notes that the ophthalmic spray pipeline comprises:
• MicroLine pilocarpine for presbyopia, or age-related farsightedness, commonly treated with reading glasses.
• MydCombi fixed combination tropicamide 1% and phenylephrine 2.5% for pharmacologic mydriasis or induced eye dilation for comprehensive eye exams and cataract surgery.
• MicroPine atropine for the reduction of pediatric myopia progression, or nearsightedness, in children ages 3 to 12 years old.

https://www.benzinga.com/general/biotech/22/10/29157450/hc-wainwright-initiates-this-eye-focused-stock-with-almost-300-upside