EyePoint Pharmaceuticals to Cut 53% of Workforce After Eye Disease Drug Trial Setback

08:08 AM EDT, 10/19/2026 (MT Newswires) -- EyePoint Pharmaceuticals (EYPT) said Monday that it plans to cut 53% of its workforce and end its late-stage trials of Duravyu for wet age-related macular degeneration early after the drug failed to meet the primary endpoint. The company said Duravyu improved vision and met key secondary endpoints related to treatment burden, supplement-free rates, disease control and safety with redosing, but failed to demonstrate non-inferiority on the primary endpoint. EyePoint said it will focus its resources on developing Duravyu for diabetic macular edema, with results from two pivotal late-stage trials expected in Q4 of next year. The restructuring is expected to generate $30 million in annualized savings, with one-time employee separation costs of $9 million, the company said. EyePoint had $118 million in cash, cash equivalents and short-term investments as of Sept. 30, 2026. Most workforce reductions are expected in Q4, with the process scheduled to conclude in H1 of next year, it added. Shares of the company were down more than 80% in recent Monday premarket activity.