EyePoint to cut 53% of workforce after phase 3 trial miss

Watertown, Massachusetts - EyePoint Inc., a company trading under the NASDAQ ticker symbol EYPT, has announced a significant workforce reduction of around 53% and an early termination of its wet AMD clinical trials due to a failed Phase 3 trial. The company's LUCIA study investigating DURAVYU for wet age-related macular degeneration (AMD) did not achieve its primary objective of demonstrating non-inferiority compared to the control group.

While the treatment did show improvements in vision and met secondary endpoints such as reduced treatment burden and safety measures, the company decided to stop the second year of its pivotal Phase 3 trials. EyePoint plans to redirect its resources towards developing DURAVYU for diabetic macular edema (DME), with Phase 3 topline data anticipated in Q4 2027.

This restructuring is expected to save the company approximately $30 million annually. The workforce reductions will primarily take place in the fourth quarter of 2026 and continue into the first half of 2027. The company anticipates incurring aggregate charges of around $9 million for employee separation benefits. As of September 30, 2026, EyePoint had $118 million in cash, cash equivalents, and short-term investments.

The Phase 3 DME program, which includes the COMO and CAPRI trials, enrolled a total of 551 patients. These patients were randomly assigned to receive either DURAVYU 2.7 mg administered every six months or aflibercept every eight weeks. The primary endpoint for the trial was non-inferiority in the average change from baseline in best-corrected visual acuity at Weeks 52 and 56.

Jay S. Duker, the president and chief executive officer of EyePoint, stated that this strategic decision allows the company to focus on its next milestone: the anticipated Phase 3 readout for the DME program. DURAVYU is a combination of vorolanib and EyePoint's proprietary Durasert E delivery technology, which aims to provide sustained drug release for at least six months.