EyePoint Pharmaceuticals (EYPT) saw its stock price plummet 5.88% in pre-market trading on Wednesday following the release of its second-quarter financial results, which revealed wider losses and a significant drop in revenue.

The clinical-stage biopharmaceutical company reported a net loss of $59.4 million, or $0.85 per share, for Q2 2025, compared to a loss of $30.8 million, or $0.58 per share, in the same period last year. This performance fell short of analyst expectations, with the reported loss per share missing the consensus estimate of $0.81 by 4.29%.

Revenue for the quarter also disappointed, coming in at $5.3 million, a steep 44% decline from $9.5 million in Q2 2024. This figure missed analyst projections of $6.63 million by 19.52%. The decrease was primarily attributed to lower recognition of deferred revenue related to the company's 2023 agreement for the license of YUTIQ product rights. Despite the disappointing financial results, EyePoint highlighted progress in its clinical development programs, including the completion of enrollment in two Phase 3 trials for its lead product candidate, DURAVYU, in wet age-related macular degeneration. The company maintains a strong cash position of $256 million, which it believes will fund operations into 2027, beyond the expected topline Phase 3 data for DURAVYU in 2026.