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EyeNovia prices common stock offering to fund clinical trials

Eyenovia Inc. priced an offering of 1.2 million common shares at $2.45 apiece.

The offering is expected to close by Dec. 21 with National Securities Corp. acting as the sole book-running manager.

The New York-based maker of eye treatments granted the underwriter a 45-day option to buy up to an additional 180,000 shares to cover any over-allotments.

The company expects gross proceeds of about $2.9 million excluding the exercise of the underwriter's option, and about $3.4 million assuming full exercise of the option.

EyeNovia plans to use the proceeds to start phase 3 trials for its therapies MicroPine and MicroProst.

MicroPine is a treatment for myopia, or nearsightedness, while MicroProst is a therapy for chronic angle closure glaucoma, an eye condition affecting the optic nerve.