During the last trading session, Oyster Point Pharma’s stock value has been increasing on the stock chart. The price indicators have gained more than a 13% increase, representing a $1.91 gain. The price spike is explained by the company’s announcement that their Tyrvaya, a nasal spray for dry eye disease, was approved by the U.S. Food and Drug Administration (FDA).
The approval was claimed after FDA has conducted an experiment with over 1000 patients with dry eye disease. After which the results of the conducted experiment were positive, which has initiated the appearance of Tyrvaya for the patients in the next month. Moreover, data from the experiment has shown that Tyrvaya also keeps eyes moist and provides an environment for clear vision. Furthermore, Tyrvaya works by activating natural tear film production, which disables dry eye disease.