By Sabela Ojea
Eyenovia said it hired Chardan as its financial adviser as it goes through a business review that includes a potential sale of the company.
The New York-based ophthalmic technology company on Monday said it will use Chardan to continue to asses strategic alternatives such as a business combination, a reverse merger, an asset sale, or a combination of alternatives, while also carefully managing its expenses.
Eyenovia hasn't yet made any final decisions or set a deadline to conclude its review.
Eyenovia ended the Sept. 30 quarter with an unrestricted cash and cash equivalents position of around $7.2 million, down from $14.8 million as of Dec. 31, 2023. "Eyenovia continues to evaluate a range of options to secure long-term financing," the company said in November.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
January 06, 2025 07:39 ET (12:39 GMT)
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