Eyenovia, Inc. Announces Pricing of $4 Million Registered Direct Offering

Eyenovia, Inc. Announces

Pricing of $4 Million Registered Direct Offering

NEW YORK, Sept. 27, 2024

(GLOBE NEWSWIRE) -- Eyenovia, Inc. (NASDAQ: EYEN) ("Eyenovia" or the "Company"), an ophthalmic technology

company with two FDA-approved products and a late-stage asset in development for the treatment of pediatric progressive myopia, today

announced it has entered into a securities purchase agreement with a healthcare focused institutional investor for the purchase and sale

of 8,695,653 shares of its common stock (or common stock equivalents in lieu thereof) and warrants to purchase up to an aggregate of 8,695,653

shares of common stock in a registered direct offering at a combined offering price of $0.46 per share and accompanying warrant. The warrants

have an exercise price of $0.50 per share, will be exercisable commencing six months from the date of issuance and will expire five years

from the initial exercise date. The closing of the offering is expected to take place on or about September 30, 2024, subject to

the satisfaction of customary closing conditions.

The gross proceeds of

the offering will be approximately $4 million before deducting placement agent fees and other estimated offering expenses payable by the

Company. The Company intends to use the net proceeds from the offering to fund commercialization activities for Mydcombi and clobetasol

propionate, complete the CHAPERONE pediatric myopia clinical study, and for working capital and general corporate purposes, which may

include the repayment of a portion of existing indebtedness.

A.G.P./Alliance Global Partners is acting as the

lead placement agent for the offering and Brookline Capital Markets, a division of Arcadia Securities, LLC is acting as a co-placement

agent for the offering.

The securities described above are being offered

by Eyenovia pursuant to its previously filed shelf registration statement on Form S-3, which was declared effective by the Securities

and Exchange Commission (the "SEC") on December 23, 2021. The offering may be made only by means of a base prospectus

and accompanying prospectus supplement. A prospectus supplement relating to the offering will be filed with the SEC and, once filed,

will be available on the SEC's website at www.sec.gov. Additionally, when available, electronic copies of the prospectus supplement

may be obtained from A.G.P./Alliance Global Partners, 590 Madison Avenue, 28th Floor, New York, NY 10022, or by telephone at (212) 624-2060,

or by email at prospectus@allianceg.com.

This press release does not constitute an offer

to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which

such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state

About Eyenovia, Inc.

an ophthalmic technology company commercializing Mydcombi (tropicamide and phenylephrine hydrochloride ophthalmic spray) 1%/2.5%

for mydriasis, Clobetasol Propionate Ophthalmic Suspension, 0.05% for postsurgical inflammation and pain, and developing the Optejet

device for use both in connection with its own drug-device therapeutic product for pediatric progressive myopia as well as out-licensing

for additional indications. For more information, please visit Eyenovia.com.

Forward Looking Statements

Except for historical

information, all 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 those relating to the offering,

the closing of the offering, the amount and anticipated use of proceeds from the offering, estimated market opportunities for our product

candidates and platform technology, the timing for sales growth of our approved products, and the outcome of the process to explore strategic

alternatives to maximize shareholder value. 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 in some cases 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, timing, progress and results of such trials; the timing of, and our ability to submit

applications for, obtaining and maintaining regulatory approvals for our products and product candidates; the potential advantages of

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

and product candidates; our estimates regarding the potential market opportunity for our products and product candidates; reliance on

third parties to develop and commercialize our products and product candidates; the ability of us and our partners to timely develop,

implement and maintain manufacturing, commercialization and marketing capabilities and strategies for our products and product candidates;

intellectual property risks; changes in legal, regulatory, legislative and geopolitical 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 product candidates; and our competitive

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

LifeSci Advisors, LLC

Vice President, Commercial Operations