Eyenovia, Inc. (NASDAQ:EYEN), a $65 million market cap company currently trading near $12.74, has acquired an additional 265,872 HYPE tokens, bringing its total holdings to 1,306,452 tokens purchased at an average price of $34.83 per token, the company announced Monday. According to InvestingPro data, the company faces challenges with cash burn and liquidity, with short-term obligations exceeding liquid assets.
The ophthalmic technologies firm, which describes itself as the first publicly-listed U.S. company to build a strategic treasury of HYPE tokens, plans to use the expanded holdings to support ecosystem growth initiatives, including its validator operations and upcoming yield generation opportunities at the protocol level. While analysts project 65.92% revenue growth for fiscal year 2025, InvestingPro analysis indicates the company is not expected to achieve profitability this year.
"We continue to see strong signals from the market and prospective partners affirming the importance of HYPE’s role in next-generation financial infrastructure," said Hyunsu Jung, Chief Investment Officer of Eyenovia, in a press release statement.
HYPE is the native token of Hyperliquid, a layer one blockchain optimized for high-frequency trading that features onchain perpetual futures and spot order books. According to the company, the token has become the 12th-largest cryptocurrency by market capitalization as of June 2025.
Eyenovia maintains a dual focus on developing its proprietary Optejet User Filled Device (UFD) for topical eye treatments while building its HYPE token treasury. The company states this strategy aims to provide shareholders with exposure to the Hyperliquid ecosystem.
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