EyePoint Plans 53% Workforce Cut After Trial Failure

EyePoint said its experimental drug DURAVYU failed to meet the primary endpoint in the Phase 3 LUCIA trial for wet age-related macular degeneration, despite patients showing vision improvements. After the setback, the company will end its pivotal wet AMD trials before their planned completion and shift development resources to DURAVYU for diabetic macular edema, with pivotal Phase 3 results expected in the fourth quarter of 2027. EyePoint plans to cut about 53% of its workforce, a move expected to save roughly $30 million annually and incur about $9 million in severance costs. The announcement sent the company’s shares plunging more than 80%.