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Eyenovia Inc (NASDAQ:EYEN) shares are trading lower by 39% to $0.41 Wednesday morning after the company announced plans to offer and sell shares of its common stock, or pre-funded warrants, in a best efforts offering. The offering’s size and terms are uncertain and dependent on market conditions.
The funds raised will be used for commercializing Mydcombi and clobetasol propionate, completing a pediatric myopia clinical study and for general corporate purposes, including potential debt repayment.
Dawson James Securities, Inc. is acting as the sole placement agent for the offering.
When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.
Shares of Eyenovia have decreased by 64.01% in the past year. An investor who bought shares of Eyenovia at the beginning of the year would take a loss of $1.25 per share if they sold it today. The stock has fallen 50.35% over the past month, meaning an investor who bought shares on Jul. 1 would see a capital loss of $0.06.
Eyenovia shares have an all-time high of $6.58, representing 867.36% upside from current levels.
Investors may also consider market dynamics. The Relative Strength Index can be used to indicate whether a stock is overbought or oversold. Eyenovia stock currently has an RSI of 19.09, indicating oversold conditions.
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According to data from Benzinga Pro, EYEN has a 52-week high of $2.57 and a 52-week low of $0.50.
Posted In: EYEN
