EyePoint cuts 53% of workforce after wet AMD trial failure

EyePoint, Inc. (Nasdaq: EYPT) announced a workforce reduction of approximately 53% and an early conclusion of its pivotal Phase 3 wet age-related macular degeneration (AMD) trials after its DURAVYU drug candidate failed to meet the primary endpoint in the Phase 3 LUCIA study.

The LUCIA trial, evaluating DURAVYU in wet AMD, did not meet its primary endpoint of non-inferiority, though the company said the study showed vision improvements and met secondary endpoints including reduction in treatment burden and anatomic control.

The Watertown, Massachusetts-based company said its board approved the restructuring plan to preserve capital and shift focus to its Phase 3 program for DURAVYU in diabetic macular edema (DME), with pivotal topline data from two trials expected in the fourth quarter of 2027.

The workforce reduction is expected to occur substantially in the fourth quarter of 2026 and be completed in the first half of 2027. EyePoint estimates it will incur approximately $9 million in one-time charges related to employee severance and separation benefits. The restructuring is expected to generate annualized savings of approximately $30 million.

EyePoint reported approximately $118 million in cash, cash equivalents, and short-term investments as of September 30, 2026.

The Phase 3 DME program consists of two trials, COMO and CAPRI, which together enrolled 551 patients. The trials compare DURAVYU 2.7 mg administered every six months against aflibercept administered every eight weeks.

"Decisions involving a reduction in our workforce are exceptionally difficult, and we extend our deepest gratitude to our departing colleagues for their dedication and meaningful contributions," said Jay S. Duker, M.D., President and Chief Executive Officer of EyePoint.

DURAVYU has not been approved by the U.S. Food and Drug Administration. Information in this article is based on a company press release.

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