EyePoint Pharmaceuticals stock sinks following clinical trial results

Investing.com -- Shares of EyePoint Pharmaceuticals, Inc. (NASDAQ: NASDAQ:EYPT) fell 21% today, diverging from the company’s recent announcement of positive results from the Phase 2 VERONA clinical trial of DURAVYU for Diabetic Macular Edema. Despite meeting primary and secondary endpoints, the stock experienced a significant drop.

The clinical trial, which was designed to evaluate DURAVYU™, an investigational sustained delivery therapy, met its primary endpoint of extending the time to the first supplemental injection compared to the aflibercept control for both doses tested. Additionally, the trial demonstrated an early and sustained improvement in vision and anatomical control, with no DURAVYU-related ocular or systemic serious adverse events (SAEs) reported.

EyePoint Pharmaceuticals announced these results with optimism, highlighting the potential of DURAVYU to be a best-in-class treatment for patients with Diabetic Macular Edema (DME). DURAVYU 2.7mg showed a +7.1 letter best corrected visual acuity (BCVA) gain and a 76-micron central subfield thickness (CST) reduction at week 24, with 73% of eyes treated remaining supplement-free compared to 50% for the aflibercept control group.

President and CEO Jay S. Duker expressed the company’s pleasure with the VERONA results, emphasizing the immediate and meaningful improvement in both visual acuity and anatomy in DME patients. Duker also noted the superior dosing interval and excellent safety profile of DURAVYU. Plans are underway to meet with the FDA in the second quarter for potential initiation of a Phase 3 clinical trial later in 2025.

Despite these positive developments, the market’s reaction has been unfavorable, as evidenced by the decline in the company’s stock price. The reasons for the market’s response are not immediately clear from the press release or available analyst comments. Investors may be considering factors beyond the trial’s results, such as the competitive landscape.

EyePoint Pharmaceuticals remains focused on advancing DURAVYU through the clinical trial process, with the goal of providing a new treatment option for patients with serious retinal diseases. The full six-month data from the VERONA trial will be presented at an upcoming medical meeting, following an interim data presentation at Angiogenesis, Exudation, and Degeneration 2025 in February.

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