Eyenovia Announces First Patients Enrolled in Phase 3 Study of MicroLine for Presbyopia Topline Results Expected First Half of 2021

Eyenovia Announces First Patients Enrolled

in Phase 3 Study of MicroLine for Presbyopia

Topline Results Expected First Half of

NEW YORK-December 16, 2020-Eyenovia,

Inc. (NASDAQ: EYEN), a clinical stage ophthalmic biopharmaceutical company developing a pipeline

of microdose array print (MAP ) therapeutics, today announced that the first set of patients has been enrolled in the Company's

Phase 3 VISION-1 study of MicroLine, its proprietary pilocarpine formulation delivered via its Optejet dispenser, for the

improvement in near vision in patients with presbyopia.

Presbyopia, the age-related hardening of the lens causing blurred

near vision, affects approximately 113 million Americans. Vision impairment typically begins after age 40 and is often corrected

with eyeglasses or "readers," contact lenses or surgery.

"Eyenovia's VISION studies are designed to demonstrate

improvement in near visual acuity in patients with presbyopia. Along with mydriasis and myopia, this is our third Phase 3 program

using our smart Optejet system, which is the first technology of which we are aware to demonstrate the benefits in Phase 3 trials

of topical ophthalmic therapies using high precision, targeted microdosing," said Dr. Sean Ianchulev, Chief Executive Officer

and Chief Medical Officer of Eyenovia. "With our first set of patients now enrolled in the Phase 3 VISION-1 study, we expect

to complete enrollment relatively quickly and have topline data in the first half of 2021, subject to any impacts of COVID-19."

The VISION trials are Phase 3, double-masked,

placebo-controlled, cross-over superiority trials that will each enroll approximately 100 participants between the ages of 40 and

60 who suffer with visual impairment from presbyopia. The primary endpoint is same-day improvement of binocular distance corrected

near visual acuity. MicroLine is designed for use "on demand" for symptomatic improvement of near vision impairment

secondary to presbyopia.

"For the large percentage of

my patients who have no prior vision impairment, developing presbyopia can be a life-altering event as they come to terms with

one of the first outward signs of aging," said Dr. David Wirta of the Eye Research Foundation in Newport Beach, California,

a VISION-1 study investigator. "MicroLine has the potential to remove my patients' dependance on reading glasses by

providing an easy-to-use pharmaceutical treatment that could add to our options in treating this condition."

Dr. William Flynn, Director of Eye

Associates Research Center of San Antonio, Texas and a VISION-1 study investigator added, "Many patients find transitioning

from no glasses to reading glasses has a significant impact on their quality of life. By providing a way to minimize this impact

so that glasses are not needed in all situations, we have the potential to help improve our patients' treatment satisfaction."

Eyenovia's MicroLine is a proprietary

microdosed formulation of pilocarpine for presbyopia that is delivered via the Company's Optejet dispenser. Providing high

precision microdosing at approximately 1/5th the drug volume of a traditional eyedropper, the Optejet is designed to

deliver targeted, consistent doses more conveniently than typical eyedroppers.

About Eyenovia, Inc.

Eyenovia, Inc. (NASDAQ: EYEN) is a clinical stage ophthalmic

biopharmaceutical company developing a pipeline of microdose array print (MAP) therapeutics. Eyenovia is currently focused on

the late-stage development of microdosed medications for presbyopia, myopia progression and mydriasis. For more Information, visit www.eyenovia.com.

Forward-Looking Statements

Except for historical information,

all of the statements, expectations and assumptions contained in this press release are forward-looking statements. Forward-looking

statements include, but are not limited to, statements that express our intentions, beliefs, expectations, strategies, predictions

or any other statements relating to our future activities or other future events or conditions, including estimated market opportunities

for our product candidates and platform technology. These statements are based on current expectations, estimates and projections

about our business based, in part, on assumptions made by management. These statements are not guarantees of future performance

and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may, and

are likely to, differ materially from what is expressed or forecasted in the forward-looking statements due to numerous factors

discussed from time to time in documents which we file with the U.S. Securities and Exchange Commission. In addition, such statements

could be affected by risks and uncertainties related to, among other things: risks of our clinical trials, including, but not limited

to, the costs, design, initiation and enrollment (which could still be adversely impacted by COVID-19 and resulting social distancing),

timing, progress and results of such trials; the timing and our ability to submit applications for, obtain and maintain regulatory

approvals for our product candidates; the potential impacts of COVID-19 on our supply chain; the potential advantages of our product

candidates and platform technology; the rate and degree of market acceptance and clinical utility of our product candidates; our

estimates regarding the potential market opportunity for our product candidates; reliance on third parties to develop and commercialize

our product candidates; the ability of us and our partners to timely develop, implement and maintain manufacturing, commercialization

and marketing capabilities and strategies for our product candidates; intellectual property risks; changes in legal, regulatory

and legislative environments in the markets in which we operate and the impact of these changes on our ability to obtain regulatory

approval for our products; and our competitive position. Any forward-looking statements speak only as of the date on which they

are made, and except as may be required under applicable securities laws, Eyenovia does not undertake any obligation to update

any forward-looking statements.

Chief Financial Officer

Eyenovia Investor Contact:

LifeSci Advisors, LLC

Eyenovia Media Contact:

Pazanga Health Communications