EyePoint Craters 71% as DURAVYU Misses Primary Endpoint in Wet AMD Trial
EYPT sits 16% above its 52-week low of $3.95 on elevated volume (15× avg).
Summary
EyePoint's lead candidate DURAVYU failed the primary endpoint of non-inferiority in visual acuity versus aflibercept in the LUGANO Phase 3 wet AMD trial, sending shares down 71% to $4.30 — the worst single-day drop on record. The miss was driven by an asymmetric cohort: 9 of 211 patients lost significant vision from unrelated health issues, skewing the average. Analysts were blindsided — Cantor called the scenario 'so unlikely we hadn't even contemplated it,' while Citi slashed DURAVYU's probability of success to 40% from 60% but maintained Buy, arguing the drop is an overreaction because the comparator Eylea performed unusually well and DURAVYU cut injection frequency by 42%, beating the 30% commercial viability threshold. This follows the 8-K filed earlier today confirming the miss and the Q2 loss of $94.5M reported August 5. Management plans to file an NDA in H1 2027 if the Q4 DME trial results support it. The stock's 19% year-to-date decline before today already reflected cash burn concerns; this failure materially raises the risk profile for the entire DURAVYU franchise.
At the time of this announcement, EYPT was trading at $4.59 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.3B. The 52-week trading range was $3.95 to $19.11. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.