EyePoint plummets after second failure for eye disease drug

EyePoint

19/10/2026 13:01

** Shares of EyePoint EYPT.O sink 76.9% to 69 cents premarket
** Co says second late-stage trial of experimental eye disease drug Duravyu failed to meet its main goal
** EYPT will cut about 53% of its workforce and halt other late-stage wet age-related macular degeneration studies early, before completing the second year of the trials
     ** Co plans to prioritize the development of the drug as a potential treatment for diabetic macular edema, which causes vision loss
** Estimates it had about $118 million in cash, cash equivalents and short-term investments as of September 30
** Stock down about 84% YTD, as of last close

(Reporting by Sriparna Roy in Bengaluru)
((Sriparna.Roy@thomsonreuters.com;))