Eyenovia Announces Fourth Quarter and Full Year 2017 Financial Results Successfully Completed EYN PG21 Study Evaluating Usability and IOP Lowering with Micro-Therapeutic Latanoprost New York, NY

Eyenovia Announces Fourth Quarter and

Full Year 2017 Financial Results

Successfully Completed EYN PG21 Study

Evaluating Usability and IOP Lowering with Micro-Therapeutic Latanoprost

New York, NY - April 2, 2018 -

Eyenovia, Inc. (NASDAQ: EYEN), a clinical stage biopharmaceutical company developing a pipeline of ophthalmology products utilizing

its patented piezo-print technology to deliver micro-therapeutics topically to the eye, today announced financial results for the

fourth quarter and full year ended December 31, 2017.

Recent Business Highlights

Dr. Sean Ianchulev, Eyenovia's Chief

Executive Officer and Chief Medical Officer commented, "Eyenovia has made important strides over the last year as we seek

to create a therapeutic paradigm shift in ophthalmology for front-of-the-eye diseases. With our recent successful IPO and a strong

late stage clinical development pipeline, we believe the Company is well positioned to achieve this goal. Our smart, high precision

piezo-print microdosing technology aims to bring ophthalmic treatment into the 21st century, replacing the nearly 100-year

old eye dropper that can miss or overdose the eye causing side effects, ocular toxicity and inconsistent dosing. Using our novel

technology, we believe we have the opportunity to address large unmet needs in Chronic Angle Closure Glaucoma and pediatric myopia

in addition to providing compelling best-in-class alternatives to currently available options in mydriasis and dry eye."

"We have assembled great talent with

an experienced management team and an expanded Board of Directors and Scientific Advisory Board. This is important as we move forward

with a number of late stage programs. The compelling preliminary top-line results from our EYN PG21 trial for IOP lowering further

complement our mydriasis Phase II data which we presented last year and provide preliminary evidence of broad applicability of

our micro-therapeutic approach for different front-of-the-eye indications. This paves the way as we move forward with our MicroProst

IND submission to initiate Phase III trials during the second half of this year. We also believe that the recent confirmation from

the FDA to advance our pediatric myopia program into Phase III development brings us closer to addressing this growing epidemic

that is currently without any FDA approved therapies. I would like to thank all those who helped make this past year transformational

for Eyenovia," concluded Dr. Ianchulev.

The EYN PG21 clinical study evaluated microdose

delivery and the IOP lowering effect of micro-therapeutic latanoprost in the eyes of 30 healthy volunteers who received once-daily

treatment over 3 days and underwent IOP assessments three times per day. Based on preliminary top-line results, piezo-print micro-therapeutic

latanoprost achieved robust IOP reduction at significantly lower level of exposure to drug and toxic preservatives using Eyenovia's

horizontal delivery system and high-precision piezo-print smart technology. The Company is finalizing data analyses from the trial

and expects to announce full and detailed results in the second quarter of 2018.

Fourth Quarter and Full Year 2017 Financial

For the fourth quarter of 2017, net loss

was approximately $2.2 million, or $0.84 per share, compared to a net loss of approximately $1.2 million, or $0.51 per share for

the fourth quarter of 2016. For the full year ended December 31, 2017, the net loss was approximately $5.1 million, or $2.19 per

share. This compares to a net loss of approximately $3.5 million, or $1.56 per share for 2016.

Research and development expenses totaled

approximately $1.7 million for the fourth quarter of 2017, compared to approximately $1.0 million for the same period in 2016,

an increase of 72%. For the full year 2017, research and development expenses increased 29% to approximately $3.8 million compared

to approximately $3.0 million in the prior year.

For the fourth quarter of 2017, general

and administrative expenses were approximately $0.5 million compared with approximately $0.2 million for the fourth quarter of

2016, an increase of 167%. For the full year 2017, general and administrative expenses increased 131% to approximately $1.3 million

versus approximately $0.6 million for the full year of 2016.

Total operating expenses for the fourth

quarter of 2017 were approximately $2.2 million, compared to total operating expenses of approximately $1.2 million for the same

period in 2016, an increase of 87%. For the full year 2017, total operating expenses increased 45% to approximately $5.1 million

compared to $3.5 million for the full year of 2016.

As of December 31, 2017, the Company's

cash was approximately $5.2 million. This amount does not include the $24.5 million in net proceeds from Eyenovia's IPO which

closed in January 2018.

Conference Call and Webcast

The conference call is scheduled to begin

at 8:30 am ET on Monday, April 2, 2018. Participants should dial 1-866-916-2921 (United States) or 1-210-874-7771 (International)

with the conference code 3583799. A live webcast of the conference call will also be available on the investor relations page of

the Company's corporate website at www.eyenoviabio.com.

After the live webcast, the event will

be archived on Eyenovia's website for one year. In addition, a telephonic replay of the call will be available until April

9, 2018. The replay can be accessed by dialing 1-855-859-2056 (United States) or 1-404- 537-3406 (International) with confirmation

Eyenovia is a specialty biopharmaceutical

company building a portfolio of next generation topical eye treatments based on its proprietary delivery and formulation platform

for micro-therapeutics. Eyenovia's pipeline is currently focused on the late-stage development of micro-therapeutics for

glaucoma and other eye diseases.

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. 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 SEC. In addition, such statements

could be affected by risks and uncertainties related to, among other things: fluctuations in our financial results; our ability

to attract and retain key personnel; risks of our clinical trials, including that preliminary top-line results might not be supported

by more detailed analyses or repeatable in future trials; the timing and our ability to submit applications for, obtain and maintain

regulatory approvals for, our product candidates; our ability to implement our business plan to commercialize our product candidates;

the potential advantages of our product candidates; 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; our commercialization, marketing

and manufacturing capabilities and strategy; our ability to identify additional products, product candidates or technologies with

significant commercial potential that are consistent with our commercial objectives; our expectations regarding our ability to

fund our operating expenses and capital expenditure requirements; intellectual property risks; the impact of government laws and

regulations; our competitive position; and general economic conditions. 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, we do not undertake any obligation to update

any forward-looking statements.

Chief Financial Officer

Tram Bui / Alexander Lobo

Phone: 646-536-7035/7037

E-mail: tbui@theruthgroup.com /

(Financial Statements to Follow)