Following the announcement of the successful completion of a $50 million private placement (PIPE) with accredited investors, shares of Eyenovia, Inc. (NASDAQ: EYEN) jumped 64.60% on Tuesday, ending at $9.02. Strong market trust in Eyenovia’s changing strategy, especially its audacious foray into blockchain-based financial operations, is reflected in this sizeable capital increase.
Investment in HYPE and Validator Launch Plans
Eyenovia confirmed that it had acquired approximately 1,040,584.5 HYPE tokens at an average price of $34 per token through the PIPE financing. These tokens are native to the Hyperliquid blockchain, where HYPE holders benefit from lower trading fees and higher referral incentives when their assets are staked. The company plans to launch a proprietary network validator in partnership with an ecosystem ally to support the Hyperliquid blockchain’s performance and unlock staking-based yield opportunities.
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Strategic Shift Toward Digital Assets and Future Rebranding
The move marks the initiation of Eyenovia’s broader cryptocurrency treasury reserve strategy, aiming to drive shareholder value through exposure to rapidly growing digital asset markets. This marks a transformative shift as the company diversifies beyond its pharmaceutical roots. Notably, Eyenovia anticipates a corporate rebranding to “Hyperion DeFi” with a ticker change to “HYPD,” pending final Board approval.
Biotech Progress Remains on Track
Despite the pivot toward blockchain, Eyenovia remains committed to its core medical device pipeline. The development of its Optejet unit-dose dispenser (UFD) continues, with verification and validation phases set to begin next month. The company maintains its goal of FDA registration for Optejet by September 2025. Eyenovia is actively negotiating with possible partners to license its technology for over-the-counter products like artificial tears and lens rewetting drops.
Setting Up for Long-Term Ecosystem Participation
Eyenovia is putting itself in a critical position inside the Hyperliquid ecosystem by securing its initial HYPE token position and organizing validator activities. By offering safe, custodial access to HYPE and its staking advantages to both institutional and retail investors, the business hopes to create a singular intersection of biotech and decentralized finance innovation.
