Eyenovia Inc ( 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.

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Should I Sell My EYEN Stock?

When deciding to hold on to or sell a stock, investors should consider their time horizon, unrealized gains and total return.

Shares of Eyenovia ( EYEN ) have decreased by 64.01% in the past year. An investor who bought shares of Eyenovia ( EYEN ) 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 ( EYEN ) 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 ( EYEN ) 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.