EyePoint to cut half its staff after second late-stage trial failure

what happened

EyePoint said on Monday it will lay off roughly 53% of its staff and halt work on its experimental treatment for age-related eye disease after a second late-stage study missed its target, according to Reuters.

The study compared Duravyu with Regeneron's top-selling eye drug Eylea in people with wet macular degeneration, a major cause of vision loss among the elderly. Patients on Duravyu saw their vision improve, yet the drug did not preserve sight as well as the established therapy, the company noted. A regulatory filing showed EyePoint employed 214 full-time workers as of February 27, all in the United States.

A similar trial in August also missed its main goal, and the shares plunged more than 65% at that time. EyePoint expects the cuts and trial closures to save about $30 million a year, while severance charges should total roughly $9 million. The company will now focus on Duravyu for diabetic macular edema, with late-stage data due in the fourth quarter of 2027.

why it matters

The result highlights the risk for small biotech firms that depend on a single drug. JonesTrading analyst Debanjana Chatterjee said she sees no quick regulatory path in wet AMD despite strong secondary results. Trading in EyePoint shares was halted in premarket after a sharp drop.

market impact

EyePoint shares: the failed trial and layoffs weigh on the stock and on the eye-drug pipeline sentiment

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