11:35 AM EDT, 04/08/2024 (MT Newswires) -- Eyenovia ( EYEN ) said Monday it has launched a process to explore potential strategic alternatives, including an outright company sale, in order to maximize shareholder value.

The commercial-stage ophthalmic company said its strategic options also include an asset sale or merger and that it is in contact with investment banks to help with the process.

"While we remain intently focused on laying a foundation for accelerating sales growth in 2025, we are in parallel reducing costs in areas that do not impact our ability to deliver on our core strategy," Eyenovia ( EYEN ) Chief Executive Michael Rowe said.

Eyenovia ( EYEN ) shares were 1.4% lower in recent trading.

Price: 0.88, Change: -0.01, Percent Change: -0.93