02:34 PM EST, 03/05/2024 (MT Newswires) -- Eyenovia ( EYEN ) said Tuesday the US Food and Drug Administration approved Formosa Pharmaceuticals' eye drops for the treatment of inflammation and pain after eye surgery.

The company acquired the US commercial rights to the clobetasol propionate ophthalmic suspension 0.05% treatment from Formosa Pharmaceuticals in August last year.

Eyenovia ( EYEN ) will disclose the timing for the approval of its trade name for the product during Q4 2023 results conference call in March. It is also exploring further development of the product as a dry eye treatment.

Eyenovia ( EYEN ) shares were down almost 16% in recent trading.

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