EyePoint cuts staff and stops late-stage wet AMD trials after duravyu misses again
EyePoint is reducing its workforce by about 53% and ending pivotal trials of duravyu in wet age-related macular degeneration after the Phase 3 Lucia study failed to match Eylea. The company will now concentrate on duravyu's late-stage development for diabetic macular edema. Following the announcement, EyePoint's shares dropped more than 80% at the market open.
EyePoint, based in Watertown, Massachusetts, had 214 employees as of late February; a 53% reduction could affect roughly 113 workers. The Phase 3 Lucia study missed its main goal of proving it was statistically no worse than Eylea at improving average best-corrected vision, though it met key secondary endpoints, including lessening how often patients need treatment.
The earlier Phase 3 Lugano trial also failed its two-year primary endpoint against Eylea or an Eylea biosimilar. EyePoint is stopping both pivotal wet AMD trials before a second year and prioritizing duravyu in diabetic macular edema, with two Phase 3 readouts expected in the fourth quarter. Layoff-related charges may total about $9 million.
If duravyu’s wet AMD program ends, patients seeking less frequent injections may have fewer experimental alternatives, while clinicians could continue relying on established treatments. The roughly 113 affected employees and their communities may face economic uncertainty. EyePoint’s sharp share decline could reduce near-term investment capacity, potentially slowing broader innovation. Conversely, concentrating on diabetic macular edema may preserve a late-stage option for that patient group, though its benefit remains unproven until Phase 3 results arrive.