Eyenovia(EYEN) Soars 55.41% on Loan Agreement Changes, Positive Trial Results

Eyenovia(EYEN) surged 55.41% today, marking its second consecutive day of gains, with a total increase of 134.62% over the past two days. The share price reached its highest level since October 2021, with an intraday gain of 87.26%.

The strategy of buying EYEN shares after they reached a recent high and holding for 1 week resulted in significant losses. The 5-year backtested return was -93.66%, with an annualized return of -19.4%. This indicates that this strategy failed to produce positive returns over the past 5 years, highlighting the importance of careful analysis and consideration of the overall market context before making investment decisions.

Eyenovia's recent stock price fluctuations can be attributed to several significant developments. On June 6, 2025, the company's stock surged in pre-market trading due to substantial changes in its financial agreements. Specifically, on May 30, 2025, Eyenovia amended its loan agreement with Avenue Capital, which restricted lenders from owning more than 9.99% of Eyenovia’s common stock, with a possible adjustment to 19.99% with prior notice. This amendment also allowed lenders to receive equivalent securities or cash in case of a fundamental transaction.

Additionally, promising Phase 3 trial results have contributed to a significant increase in stock value. These financial and operational developments have led to a remarkable increase in Eyenovia's stock price over recent days. The company's strategic financial moves and positive clinical trial outcomes have bolstered investor confidence, driving the stock's upward trajectory.