Eyenovia Soars 41.59% on Betaliq Merger Talks, Cost Cuts

On May 20, 2025, Eyenovia's stock surged by 41.59% in pre-market trading, marking a significant rise that has caught the attention of investors and analysts alike.

Eyenovia is actively pursuing a merger with Betaliq, a private pharmaceutical firm specializing in glaucoma treatment. The companies have extended their exclusivity period for negotiations until June 7, 2025, to finalize the agreement. This merger aims to leverage Betaliq's non-aqueous technology, Eyesol, to address the critical needs of glaucoma patients and enhance Eyenovia's market position.

In parallel with the merger discussions, Eyenovia is advancing its innovative Optejet user-filled device (UFD). This device is designed to simplify the administration of topical ophthalmic medications, potentially revolutionizing patient experiences by reducing waste and enhancing ease of use. The company is expected to file for U.S. regulatory approval for the Optejet soon, which could open up numerous commercial opportunities.

Eyenovia has also shown remarkable financial improvements. The company reported a significant reduction in its cash burn by approximately 70% compared to the previous year, thanks to systematic cost-cutting measures. As of March 2025, Eyenovia's unrestricted cash stood at $3.9 million, reflecting a robust fiscal strategy. For the first quarter of 2025, Eyenovia announced a net loss of $3.5 million, a significant improvement from the net loss of $10.9 million reported in the same period last year. These figures highlight the company's ongoing efforts to stabilize and grow, with research and development expenditures dropping to $0.7 million from $4.4 million in Q1 2024, marking an 85% decrease.

CEO Michael Rowe expressed optimism regarding the merger with Betaliq, emphasizing the potential to create a new entity in the eyecare market with immediate revenue from their FDA-approved products and a promising pipeline of technologies. Alongside the operational focus, Eyenovia is committed to optimizing its development processes to bring forth the Optejet device, aiming to seamlessly integrate it into consumer practices for eye health.