August 5, 2021
Aug. 05, 2021 (GLOBE NEWSWIRE) — Oyster Point Pharma, Inc. (Nasdaq: OYST), (“Oyster Point Pharma” or “the Company”) a clinical-stage biopharmaceutical company focused on the discovery, development and commercialization of first-in-class pharmaceutical therapies to treat ophthalmic diseases, today announced its financial results for the second quarter of 2021, and provided an overview of recent business highlights:
- Entered Into $125M Term Loan Credit Facility with OrbiMed, with $45M Upfront and $50M Upon FDA Approval of OC-01 (varenicline) Nasal Spray, if Approved
- Exclusive License Agreement with Ji Xing Pharmaceuticals to Develop and Commercialize OC-01 and OC-02 in Greater China, Providing $17.5M Upfront, up to $204.8M in Potential Development and Sales-Based Milestones, and Up to 0.75% Equity in Ji Xing Pharmaceuticals
- PDUFA Target Action Date for OC-01 (varenicline) Nasal Spray is October 17, 2021
- Initiated Hiring of U.S. Sales Representatives in July, with a Planned U.S. Launch of OC-01 (varenicline) Nasal Spray in Q4’21, if Approved by the FDA
FLG partner Mark Murray advised as a board member.
Full press release is here.