EYEN - Earnings call transcript Q4 2018

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Operator

Good day ladies and gentlemen and welcome to the Eyenovia Fourth Quarter and Full Year 2018 Earnings Conference Call. At this time, all participants are in a listen-only mode. Later, we will conduct a question-and-answer session and instructions will follow at that time. [Operator Instructions] As a reminder, this conference call is being recorded. I would now like to introduce your host for today's conference, Tram Bui from the Ruth Group.

begin. may You

Tram Bui

and as SEC read well ended year welcome XX, We Eyenovia XXXX today's December press and me on Fourth press available also and financial to XX-K Officer. The file release the Executive next release Eyenovia's Quarter are months Gandolfo, for we and full be and and Good days. Chief on results Form as a Eyenovia's Conference encourage to press Call XXXX. annual report Year Financial in Officer annual Chief Eyenovia's will Earnings Sean everyone this website report With Medical and Eyenovia's few eyenoviabio.com. will Full Company's which with Officer; the Dr. John morning, the at morning, Earlier Ianchulev, Eyenovia's Chief issued Audio three today announcing Webcast. release

and maintain and approvals for need money any and in addition, Act. of by risks not Reform to risk In and light initiation, related with government for due be webcast and risks the progress our the risks under statements. such of of is the covered obtain number differ but certain to will ability Company's We trials, Harbor Company's call provisions our and that business. candidates results are submit call including shut-downs. note Actual clinical today information website for and Please from associated of the the could being listeners or this raise limited including this the a call, U.S. conference Safe that Litigation statements Eyenovia's These forward-looking making management results Securities of Private including materially fluctuations stated design, those forward-looking to these financial reference. during the our on forward-looking discussed in statements product timing, to, timing will to there at applications archived our regulatory results, implied and be is future caution uncertainties trials, subject to

market as to date our Eyenovia potential be any qualified applicable except the Eyenovia's details accurate call XX, Report recent including filings. as This of after update maintain this I regarding statements conference securities turn by undertakes ability only in opportunity conference that live SEC estimates key candidates, on to over our cautionary information and would Form this broadcast product most releases With no the reflect or filings to to in Ianchulev. for of the to is Dr. contained by required call to Our may the revise statements Annual the law. XX-K March and of its press personnel and XXXX. contains and other call events circumstances Sean or obligation attract forward-looking now time-sensitive subsequent date like that,

Sean Ianchulev

for Thank MicroPine myopia, pipeline lowering and worked Earnings Year for relief lubrication. eye Tram, MicroProst MicroStat glaucoma and Conference to mydriasis, welcome late-stage of Call. we MicroTears comprised our and XXXX you, and Full in red XXXX, to advance for everyone Eyenovia's diligently IOP Fourth and for progressive Throughout Quarter itch

first and to as continued demonstrate results well potential the positive high-precision The from which our phenylephrine-tropicamide efficacy We primary as confirmed studies. in trial mydriasis. platform to our And for very excited efficiency. were technology technology our further that both studies Optejet. that pharmacologic these our formulation the to fixed validate MicroStat the validate microdose met outcome MIST-X of combination also We from call to we efficacy improve microdosing believe help office the platform results technology we our the MicroStat III MIST-X of announce program, Phase

this us to year. to our IND milestone III trial MicroPine our of application achievement the with represents acceptance another FDA addition success allowing In Phase the MicroStat, initiate

Angle is a expect one with single believe development including broadest Open this representing what population of with with Phase the which study ocular also today. year, we Chronic patient drug in Glaucoma hypertension program to population Glaucoma, We an glaucoma patients third expanded a initiate study Closure MicroProst includes Angle III and

program Let on MIST-X from me first our MIST-X highlight III our and results and Phase MicroStat our expand positive trials.

study mydriatic first outcome was component in with randomized the enrolled as again United as Eyenovia’s In may of this pharmacologic XX mydriatic trial is to administration agents, subject eye as no as remember, care several installation million to XX Optejet. Currently, As of post that well and MIST-X, study, dual practices you each phenylephrine aim and X the year. to was dual doses million the is MicroStat in the lead treated of majority a demonstrated mydriasis MicroStat mean office-based statistically in or eye dose application well days FDA respectively this combination downtime estimated drug of compared minutes dilation be double-mask of which can the of formulation, formulations ocular formulation. U.S.-based fixed-combination pupil separate MicroStat increased At surgery there must either important and own exams, the both as comprehensive plus estimated XX order States X.X% co-formulation MicroStat In The MIST-X for the alone an by we use on study superior eyes of for its tropicamide, bring of clinically compared X%. phenylephrine our approved and met to fixed-combination be effect fixed overdose primary superiority market. those The minutes this component both subjects. the phentrop those time, were as effective. pupil and and and phenylephrine separated tropicamide using diabetic tropicamide the efficacy dilation

the tropicamide-only XX% XX% and post that dilation Additional pupil analysis or with minutes greater respectively. XX of for achieved phenylephrine-only X demonstrated eyes administration, groups the and X.X% compared millimeter in

phenylephrine only that eyes tropicamide XX% minutes, to the and dilation XX compared found treated treated millimeter at the also eyes. of MicroStat greater, of treated eyes XX% X We the X% of achieved or

the confirmatory the eyes both a was designed days trial formulation MicroStat of second XX study which our was and the superiority study the Phase The the to subject placebo controlled trial, as terms against separate mydriatic III administered versus MicroStat solution, was was solution of placebo second outcome of with with subjects. treated MicroStat and MIST-X dispenser. were compared MIST-X on the statistically it Optejet enrolled primary same Our In using study’s demonstrated superior placebo both of and efficacy that clinically it in effect.

pupil data XX% administration. Additional millimeter X the the after MicroStat in XX minutes that the of the millimeter dilation XX% more achieved in achieved and X analysis of of pupil eyes or eyes greater demonstrated group dilation or

a to compliance. and delivered surface ocular delivery transform in tolerated pleased registration Phase smarter technology robust using all only of believe opinion trials patients been delivery the MicroStat very improve mydriatic the both efficacy of program field the MicroStat are is which representing through to have outcomes drugs our that provide for precise and step this physicians We that not the We to and III and ophthalmology was we major time that well effect III with microdose also subjects. a system as FDA in first Phase demonstrated seek by forward but a a more

planned preparing stability registrational required to studies the new two are application. lots and have for focus registration manufacturing turned the drug complete, now our of which required With MicroStat we our parts

a in we While complete NDA we step, expect XXXX. the file package to complete with FDA this

in by ATOM studies which which by XX% the XXXX. the treatment our Currently, retinal would we A first-in-class discussions randomized trial from children. double-mask the more now were of to our The to a atropine MicroPine. the can of potential the formulation to progression Turning IND initiate growing to approved our progression. our collaborative investigational generated study have randomized that multi-center, or ATOM last studies our concentrations body CHAPERONE We CHAPERONE of potential there U.S.-based, advance atropine confirmed the low-dose two acceptance our a no study approved demonstrated our through to lead and unchecked proprietary to myopia FDA microdose These MicroPine XXX XX% single new receive pathologic be cases, either the that myopic And be reduce groups. application and back-of-the-eye progression. nearsightedness, to in study children will equally is Phase successfully myopia the academic atropine placebo of has slow of acceptance FDA with with for the scleral by to FDA excited program holds therapies of to axial to atrophy. first plan recently detachment progression evidence III supported very to than treatment Participants We more FDA myopic treatment treat to drug of retinal in of elongation enroll progressive in initiate that were will process X, conducted decreased the study are and development which a receive arm. vision up be adolescents. X; believe retinal and

and Optejet approximately people The expansions States are in the Glaucoma, of third After effect results latanoprost. demonstrated further positive latanoprost Glaucoma Closure treated latanoprost results study our of XX for could only These at the program technology IOP with is our using is to the microdose Angle the achieved IOP or Phase being examined IND hypertension recently consistent single studies baseline Angle that not intraocular Phase FDA, patients. III II application the include medical Open Eyenovia the also conventional Chronic which study lowering other administration access million presenting for population using we with a announced IOP. XX% to discussions seen elevated from which expand microdose and an X in the published but preparing Last for we PG recent MicroProst meetings, from IOP. drop year we United we allow pressure these MicroProst with currently ancillary study lowering additional the that of MicroProst XX% would eye ocular patients on This lowering.

to We just patient has we which patient the single IOP of with therapies of a approved clinical lowering approximately commercially the including the streamlined will populations this trial to in III broadening any include to that therapy. available one addition of indications study the Closure patients. widest have glaucoma the registration broadest Phase program today XXX currently drug also FDA population, believe In Glaucoma, potential chronic one development of Angle have no

formulation developing that is research, believe program an and differentiate red by product. consumers. updated enable to we this MicroTears. medication MicroTears being to and issues products the Finally, facing reducing easier current anti- administer exposure, significantly as to rebound decongestant tear believe also fourth have by We to preservative further us ocular ocular our pruritic will lubrication an OTC effect, and be eye MicroTears lowering able itching that of the conducting OTC address it After will we address refined

with a registration direct Monograph As in FDA to of we doctors optometrists believe process we OTC currently MicroTears and Pharmacy we research, business sale the surveyed we continue simplify a to is the using products through indicated very program optometric an there traditional commercializing sales of as that SPN single this a interest prescribing MicroTears. commercialization of the our can consumers is SPN. practices. by considering this allowing selling important Network in develop the or best distribution pharmacy and the path to recent the market From reconversion be optometry handle specialty to the majority Specialty year research an and – will are An a a

We same way. potentially the in and are MicroStat commercializing other considering products also

ranging discuss the I hand space a is focus well Americans, causes that actively experience some our platform is Now, briefly the nearby people of represents subset One presbyopia lens loss who estimate to knowledge, this age-related presbyopia the of device-based the objects. patients and the disorder and benefit potentially hardening call age could affecting around from would glasses States to we maybe to gradual the refractive XX before non-preventable the XX This prescription the from are degree financials, are of ability people suited correction sufferers to exchange. United treatment. age one-third years likely XX age To treatment respond exclusively XX of XXX after like million opportunities ophthalmology to of issue between to ocular a such XX, to approximately reading of that It I presbyopia of treatment. currently for eye’s John onset is current of review option that on to drug technology which presbyopia for. the future nearly million over Presbyopia, lens prevalent our Interestingly, most most in are unmanaged. the in

presbyopia. Eyenovia However, value to offer highly has potential a differentiated proposition the in

lasting patients provide issue pilocarpine. normally with could associated vision Our pilocarpine with while short-term in high precision improvement the brow in three to microdose combined addressing approximately microdosing hours a technology of ache four

contact, permanent reading opportunity over this a We technology would going be several development like glasses for not interesting device-based our to patients forward. as for With could believe financial such to modalities to such hours. to microdosing discuss results. be would or allow I devices John replacement for forego this While turn that an could the call us our that,

John Gandolfo

all, Thank you, us for Sean. joining Once thank again, you, morning. this

three XXXX First let December our XX, with ended months start me results.

the increase and study, as Phase expenses MicroProst with million increased the continuing we fourth the which For of for reported alluded quarter incurred and Research in $X.XX and the well additional for advancement expenses net fourth quarter connection to XXXX, $X.XX fourth in share or associated $X.X result of is as formulation of million for per compared approximately totaled MicroStat of period the quarter approximately drug compared million to of development XXXX. loss XXXX, to with expenses increase net in or remarks. per XXXX, of our XXX%. a programs, study share $X.X This MicroPine his loss clinical approximately our million of III $X.X same a a an $X.X of Sean

December including For $X.X were expenses of operating review initial in for offering the from and quarter quarter of professional total the were And XXXX. other an of of to result the increase This administrative an January approximately fourth headcount personnel-related $X.X of of periods, XXXX. results compared expenses XXXX, to same well Total in XXXX, of for XXX%. the company-related X approximately I XXXX fees general XXXX, as for year-ended period fourth a increase operating increased would and quarter two and for the of XXX%. accounting $XXX,XXX public compared approximately as approximately with fourth public million, company’s the expenses like expenses now between $X. was increase the legal, XX, the expenses million

share full year million, $X.XX or a we the for loss $XX.X million, increased approximately share XXXX, per approximately ended this XXXX. to $X.X R&D reported compares XXX% and December expenses per loss $X.XX XX, For of net to net a in the system. dispenser of prior XXXX, our million of compared approximately of $X.X XXXX the the cost approximately four increase of programs throughout $XX.X as This to result well development in year. continuing a advancement was as development our million Optejet drug or

For the million expenses Total XXXX, year expenses. $X.X XXXX XXXX. million to versus XXXX company-related $XX.X XXX% G&A expenses $X.X increased in approximately legal compared and approximately full to headcount, increased the million the approximately for of operating due for $X.X year XXX% of year largely full to to expenses public million increased

for over raised financial in our discounts, gross remarks. the company’s follow-on to XX, the offering-related prepared million to underwriting back public December $XX.X hand Sean includes approximately call and statement this that concludes XXXX. would offering proceeds excluding in closing his This XXXX, I of now like December remarks. $X.X of the As balance cash million in the commissions was and we expenses

Sean Ianchulev

Thank John. you,

the With make are highly as the our well I leverage our only we our Operator? a not who diseases. that our also like to main well of to remarks Phase and that platform well year prepared of the call like program and confident questions. as of open four the technology potentially for we forward we’d and to our novel helped a for treatment remain front clinical look initiation the including this We MicroTears. open on our success. shareholders concludes that, as as but of motivated MicroPine registration would XXXX for execute Monograph now positioned confirm MicroProst initiatives continuing OTC We questions, programs, to to team thank us Before III on and back-of-the-eye to deliver call

Operator

Our from Matt [Operator with comes first Instructions] Kaplan question Thalmann. Ladenburg

open. is line Your

Matt Kaplan

morning good the question. Hi, Thanks for guys. taking

manufacturing MicroStat wanted able will complete take some expect those registration start be to for and do long in steps what mentioned NDA complete to Just to terms rollout? How file are MicroStat to when You the next to filing? with the lots, off the you NDA the necessary lots. it

Sean Ianchulev

we that’s Well, Matt. great. I morning, about that earlier. Good know talked

initiated on the that Now stability we of and early that, XXXX. nine have on lead to study twelve a the we clinical trials months and in based we need hand, have pretty in to will lots expect ready registration that then, sequential readout we from NDA the get positive expect which to time is obviously very results file and process we a have the the the and data clinical report we to

So, on a initiated activities. a we results bit we spend because wanted studies is of clinical our registration partially there some before of basically, wait batch time positive little the major

Matt Kaplan

It Okay. helpful. makes sense. That’s

Sean Ianchulev

Yes.

Matt Kaplan

study patients. And one in help just only terms need setting? that study including understand you and the study Can the going to facilitate turning you that will space approval of detailing in design rather two this you MicroProst, provide approval than how to broad one potentially to you for that are in are CICG us it’s

Sean Ianchulev

Right. similar Matt, Again, recall, did a MicroPine. as you very with actually we thing

plan much leverage have. were Matt is And sense Chronic initial lot review to FDA same. Angle program existing on about is that actually and it from that here, and able a in the were and really to and the invasions. design, a of data we and of urgency microdosing a of lot more play data see that construct comes the two were Closure groups. FDA proceed understanding is peer to we and from at groundbreaking a when able have leverage the the was similar where in Very then evidence trial that information we able was efficient it’s One to we and registrational Level MicroPine, to lot existing there the path the Our great collaborative In information a with studies of

are not an a We points still as is the months three and primary active really control changing endpoint it’s Timolol. with against it

not Angle Closure but of different we mix now before, effect the evidence very to a when that in because and patients, studies academic we lowering Angle it expanded we again not data it registration the existing but will they that believe looked ocular be we just for include and have single trial the the So, terms the to trial from again, similarly and And IOP from MicroProst. behave have. population hypertension, we design materially at is Chronic a that data Open only

positive. very were we So

eyedrops are Glaucoma. a periorbitopathy because to a patient that the drug addition problems sunken they and and to periorbital of equally by advisors really melts the felt why technology who that the We and seeing our we population latanoprost experience problem sunken One hyperemia also of encouraged Closure very Angle populations. be the And the are with are that specialist larger major is and of of not were board the orbits it our and single happens to the used Chronic really that and should know the smaller we patients as which is available felt for interesting for and with to orbital glaucoma treatment pathology in them really patients be know made glaucoma is transformative across a globe actually and Open overdosing limited a glaucoma them. with treats the first-line thing to we we are too and the Angle – that with fast significant orbital most who one prostaglandin actually

really directly to high Angle really patient other that limited that, with the to and if delivering with of XX if market. really of the achievements Chronic in when the can delivery with the felt we see the you plus Closure Conjunctiva, know microtherapy the it particularly we think wanted we the microdosing given fact and reduced the significant cornea the the with drug to dose – and smart where we we wanted to to we topical not the game-changing, rest impact. versus So I of a the eyedrop monitoring, And the precision part treatments on percent compliance Adnexa the other have smart by these population benefit, are a have

And made glaucoma we realize, population country. to to so, that, these significant we at be rational when are look the really a to the larger was available unless benefits there

FDA, very spectrum really So the glaucoma working forward we we with would have be the good plan that for which of a across – feel the population.

Matt Kaplan

last question. then, And helpful. very That’s Okay.

the to of going you In potential this for, are the that? more for Phase and you programs just MicroPine terms III later year. granularity give can you mentioned MicroProst timing on Any timing start us

Sean Ianchulev

Yes, for the to really team I some expedite say, is of success a sense have think, too formulation really PSO this. go had first we formulation. stronger hard with work and and process at MicroPine to I the qualification urgency my would in we’ve remarkable our

tremendous may with and we only then be one So, design. We down not a Chronic I just month. a in a coming opportunity we really MicroProst FPI indication Angle Closure first to design the box the that the and an make gate the have MicroProst, to feeling although, – can the to company. partially that check really that to had out hopefully with the didn’t to MicroPine launch because and And be nail impactful patients the the change want to wanted quickly when with

back part going and this a enrolling initiate track the hopefully to you believe know. as again, towards of putting year, the study significant MicroProst we fairly also thereafter, population, really one, really will to and the which So, track had now enroll projection. It’s with expedite being It we a doing are hypertension are single ocular Glaucoma a program, would on it program Open enrollment just we and redesigned study. are that Angle we and we fast the now fast HX is a the of that slightly maybe be

notch do. of the a will other we benefits if really able we’ve later program, the months delivery the the that and will those NDA we been start be timeline all of So, because MicroProst, even at to captured few lot and optimizations overall think on very it a much

Matt Kaplan

progress. added and the congrats detail on the for all thanks Well,

Sean Ianchulev

Thank you, Matt.

John Gandolfo

Matt. Thanks,

Operator

you. Thank

Jonathan Securities. next with comes question National from Our Aschoff

with question. your is line proceed please your open, phone. Aschoff, your mute, phone your can is Jonathan line you unmute if open. Jonathan, on is Your

lift phone your If is on handset. your speaker, please

Your open. line is

move the I‘ll The question Henry with Scott Roth next Okay, on and question. comes Capital. to next from

open. Your line is

Scott Henry

Thank you, good and morning.

a end questions, on Just the Do of product XXXX? by just perhaps that MicroProst. of follow-up a quick still to couple you expect the file

Sean Ianchulev

our Scott. don’t glaucoma morning, aspects I Yes, Good this the if enrollment doing confident circumstances, is think feel expectation, we for and trials decades. the very intervening of at trial when Yes. looked operational clinical projections have any we in space enrollment, we the about where we’ve been

With little the a Closure equation. pivoted less a have additional the Angle do the we wrinkle which a Chronic there is population, experience, that part really of now of bit trial that is around, but is

I we yes, the we with at So, when that timeline. feel comfortable projections, think look

Scott Henry

Okay, remarks great. of are redundant. of if some opening I my the And missed I apologize. any questions

months? could the or question, to us tell of XX monetize next Second the XX the to you partner indications during kind ability about assets any of or

Sean Ianchulev

multi-specialty the many my as ways very found can because path integrated are you practice. practices think, of heard Again, the is not the day I Scott, SPN the non-prescription. I asking that particularly two on – really have today’s age and to already call, in how part burden building question. a office-based single how very insightful do efficiencies of which and would streamlined really, those lucky most first obviously, and we into of products, reduce have you through with we networks more physician They commercial commercialize and products huge that a a of from Yes, team first you really where are the sales a think kind there efficient are planning practices doctors of force and are are

really that. now So we a to said, we with to have But the to a we MicroStat the linear and it clear forward. now allows from have path it’s that us studies also tap going really that know being that easier explore commitment data

have on opportunities. very we want For already, we are this, the again, who and with feet think I licensing who partnerships see commercialization people companies to the them starting – potential front materialize ground with we and much other explore and already MicroProst, are on as the with we MicroPine the exploring how programs launched then, to

do that explore cautious being we very said, Now, I we those. how with the fact of acknowledge are to want that also

operating see, company very the as maybe aligned As are a we with the cautious partnerships strategic are that you across But we not fragment to haphazard to different company. deliver efficiently the and portfolio team because don’t as a path that. ultimately we overall and want of

that So, again, a the are be where phase, more months next with that over and we when a twelve late-stage III are are of in the programs happening in these will have Phase that it lot discussion studies now that strategic much think being and I hand. becomes six at we to initiated, concrete

Scott Henry

be little that any on XXXX? about up? Okay, the want great. relative or fourth about but least it guidance, Thank kind you continue we to a in maybe may should in at million basis And $X.X quarter bit little to a Final rate great. for OpEx go would rate? give quarterly color XXXX, color for bit think on a saw that that. what should we question, Or could at not Just you off you of the decline talk

John Gandolfo

last associated filed capital in can I we shelf It’s of and the company the statement end through the expenses as Yes, with because the go and the the quarter fees, professional raise fourth question, a registration that. associated actually quarter legal did professional the as associated G&A include they did were the non-recurring with some good in that that with and fees filing year. at well fourth

We that side, for were we R&D closer to R&D on we the come million $XX.X year, expect they down So, levels million total where million from do programs for the the current at the expense we XXXX. expenses looking to we at million timelines, about have it the be G&A in the we quarter about that then year. you look $XX will place in a based to the for of total $X.X that XXXX entire And upon think $X.X of know, are think probably is, way $X fourth to million.

Scott Henry

Okay, for taking great. you helpful. questions. And the all That’s thank

Sean Ianchulev

no Yes, problem.

Operator

next question is with from Securities. Jonathan National Thank you. The Aschoff

Your line is reopened.

Jonathan Aschoff

Thank had you, an time. connection last guys. I awful

few and what do you minutes So in given options, to of specialized treatment the change really dry you contact, need there were show going paradigm hard myopia kept time. you that the But glass it’s training, you announced kind wondering, vision covered lenses? to me I what think a to at was a benefit non-pharmaceutical

Sean Ianchulev

doing outcomes. year clinician it of as strikes over we randomized been then now them results The landmark consistent a programming having in Again, new completely you from there Jon, those Lucentis a controlled are when actually a in said, study in think I well, how it’s their space been trials have the through. going mean, mean, effect LAMP the privileges do in That one where were NPT through me molecular some is new is of progression the myopic that correct. myopic that data. more it’s be that five trials with X developing you I and better. with hopefully I back-of-the-eye study, something studies the am Yes, connection space, programs, glad that, of progression. one X development a really that ophthalmology have I to spaces other now that’s privileges it are consistent there even of in really approved urgency extremely is a being example, we we of the biggest by of and And made personally the to would for have this understand new collaborative the study groups phenomenal categorically, read forward, opportunity that’s a speak nothing three I one comes and recently is and done because ATOM doing of we ATOM

as normally our operating estimate are the again, Phase So, programs, us that I points data good in we not data operating with And and help to power trials can outcomes. own surrogate those design are design, we and even very, we you not II do Phase get a have very we also from vacuum. that’s

change studies. time, becomes and over to as outcomes really the elongation the the will which minus a studies X, pretty minus clinical the as minus from and minus happens, Our will refractive one of here X, refractive XX. is minus longer X, It stretched go have of problems much and eyeball outcomes same be X, patients state primary those

of period those of and the low the the and over well that So, very demonstrated would atropine with key the the period well slowing that dose in delta primary them XX% study demonstrate of change it and be is some really the over trials, technology mean I XX% which think for high outcome and with impact even non-triggered, phenomenal and or features our compliance are maybe we more chance may to unprecedented, better. of a delivery that’s precision stand enhancement our it’s we an

to So our yes, that we from perspective, trial own have design. from that that groups good the inform collaborative information it’s

Jonathan Aschoff

Okay.

So that do is, you would administration non-inferior your you think would that events think perhaps be being enough? with

Sean Ianchulev

absolutely no, not. no, Oh,

We will are not over – to these Jonathan. This a going this are not is study superiority – not be a be non-inferiority controlled.

be will treatments arms. placebo. controlled as I versus have will microdose So, active mentioned, which we different Two three

do what we So, to anybody that for be and will that’s shooting will space. have in superiority

Jonathan Aschoff

Okay. MicroPine? Is late-stage anything to else for even be the on or market there likely

Sean Ianchulev

Yes.

portfolio… look you our at if So,

Jonathan Aschoff

No, I in myopia? mean,

Sean Ianchulev

So, about with and ago. months there XX standard they a myopia? is, to in that’s the explore conventional is a study, atropine-based launched think that, I in company one company, was that has a yes, eyedropper first running that their a formulation company Oh, really is there that

else collaborative space. and we believe the is Phase running already time think which company that lot initiated superior our younger everybody a essential the group from from a they data interest now also other and They will and be the I the a – fast aware a III III because there anybody But that. compelling going alternatives of study not program, initiated of a top I if on will I when a don’t is hard they gearing earlier. a technology what patients. it So eyedrops that’s I how I them lot am that of least delivery think interesting in provide with we – a not – is will microdose follower know aware at there is be with comes putting up have very and enrollment of Phase am there. But again, of the program I is

Jonathan Aschoff

being an with chance arm your device, Okay. of But correct? no given atropine not there by

Sean Ianchulev

and that don’t that. need don’t We No, we no. plan

Jonathan Aschoff

guidance. that Okay. Thanks XXXX That’s for that and helpful. John for thanks expense

John Gandolfo

No Okay. problem.

Operator

Wainwright. Chen with Yi H.C. from comes question next Our

Your line is open.

Yi Chen

taking study III? the enter you Phase to is that the study provide clinical II a it my of going Thank color going instead you be is timeframe Phase for a Could Pilocarpine enters some when and question. to regarding it microdosing for Presbyopia clinical study,

Sean Ianchulev

was good that question. a Hey,

answer it. me Let

analysis some been was we impact Phase data formulation to documentation achieved on surprisingly, of we study with we forward formulation where fits. There partially made Phase – with trial make companies lot in information you where other explored issue something in conceptually the achieved that best there resurrection Pilocarpine Presbyopia when I of now therapeutic transformative and could more because Allergan significant terms technology Pilocarpine. and The the the And did is to that with success things that be Thilo our PSO gap this as in really very we we potential for of of patients really are know, believe that qualification with own topical Thilo. technology. because lot overdose a have rushing in of a our and was success be on recently, of effect. is II Pilocarpine some of fact, our biggest has realizing And this and actually their III beachfront the of the tolerability delivery for is is married a treatment. internally So, a formulation and Where for can dramatic microdosing, Pilocarpine process have

Phase acutely where all market. that is into really positioned has have an and directly data be III can based Eyenovia very So, go the Presbyopia program very, example desirable this answer on the that it of the a can on we in shelf to

said, for us I earlier work asked to partnership. over to program much think partner, somebody being an with ideal can terms huge and of of the really technology good market. in our Presbyopia shape partner one our topical which engaged about portfolio we are treatments other this months that very think where programs. of we But bring because first is pipeline fully Eyenovia groundbreaking our with I formulation and that and is the this That question programs we Now, existing to really all are four twelve the really a know next in is for

can high yes, any think into I So, program gear go point. at that

are have else I strategists really everything to given with working looking think we it internally. to we that potential partner forward

Yi Chen

Thank you.

Operator

and today’s this for in gentlemen, you session. have you conclude answer Everyone a does and today’s and conference. This thank may question disconnect. Thank And wonderful today’s participating Ladies conclude you. does program all day.

Eyenovia (EYEN) 27 Mar 192018 Q4 Earnings call transcript