EyePoint’s Phase 3 eye drug falls short of Eylea, stock tumbles 70%

EyePoint reported that its experimental treatment for wet age-related macular degeneration did not meet the efficacy endpoints in a Phase 3 trial when compared with the current standard, Eylea. The data showed the drug was less effective than the benchmark.

Following the announcement, EyePoint’s shares fell sharply, dropping about 70% at the opening of trading. The steep decline reflected investor disappointment in the negative trial outcome.

The setback highlights the difficulty of displacing established therapies in the retinal market and may delay any near-term commercial prospects for the company’s candidate.