Eyenovia, Inc. congratulates Formosa Pharmaceuticals on the FDA approval of clobetasol propionate ophthalmic suspension 0.05% for the treatment of post-operative inflammation and pain following ocular surgery. Eyenovia acquired the U.S. commercial rights to clobetasol propIONate ophthalmic suspension 0.,05% from Formosa Pharmaceuticals in August 2023. Formosa's proprietary APNT technology, which has been used in the development of clobetasol Propionate ophthalmic suspension to reduce the particle size of the active pharmaceutical ingredient, is thought to provide many benefits, including high uniformity and purity, improved stability, improved dispersion properties and greater bioavailability.

Longer term, Eyenovia is exploring further development of the product in the Optejet dispenser as a potential treatment for dry eye, which the Company estimates to be a $3.6 billion market. Eyenovia will provide a further update on this and other recent developments, including timing for approval of its tradename for this product, during its fourth quarter and full-year 2023 results conference call in mid-March.