EyePoint will halve workforce, end pivotal wet AMD trials early following second fail

EyePoint announced Monday that duravyu failed to meet the non-inferiority primary endpoint in the Phase 3 Lucia trial in wet AMD, its second Phase 3 failure after the Lugano trial. The company will cut about 53% of its workforce (about 113 people) and end both pivotal wet AMD trials early, shifting to two Phase 3 readouts for duravyu in diabetic macular edema (DME). The announcement disclosed cash and marketable securities investments of $180.5 million as of June 30 and about $9 million in charges related to the layoffs.