In today’s pre-market trading, EyePoint Pharmaceuticals (EYPT) is experiencing a notable decline, with a drop of $1.62, or 21.3%, resulting in a pre-market price of $6.00. The trading volume has already reached 471,118 shares.
This drastic price change comes despite the company’s recent announcement regarding highly promising results from their Phase 2 VERONA clinical trial for DURAVYU, a therapeutic treatment aimed at diabetic macular edema. According to the announcement, both doses of DURAVYU in the trial met their primary endpoint, showing an extended time to the first supplemental injection when compared to the control group.
The results have depicted a substantial improvement in visual acuity, with the 2.7 mg dosage demonstrating a +7.1 letter gain in best corrected visual acuity (BCVA) and an impressive reduction in central subfield thickness (CST) by 76 microns. Moreover, there have been no significant adverse events related to DURAVYU during the trial, maintaining a favorable safety profile.
EyePoint's management expressed optimism regarding the results, indicating a strong potential for DURAVYU to become a best-in-class treatment for patients suffering from diabetic macular edema. Jay S. Duker, M.D., the President and CEO of EyePoint, highlighted the potential impact of this treatment on the market, particularly as diabetic macular edema is a leading cause of vision loss among working-age adults.
Despite these promising clinical results, the market has reacted negatively, which could be attributed to several factors, including overall market sentiment or investor perceptions regarding the future prospects of the company and its trials.
Investors and analysts will be keenly watching the upcoming conference call today to hear more about the results and the strategy for advancing DURAVYU toward a Phase 3 non-inferiority pivotal program, expected to begin by the end of 2025. The future trajectory of EyePoint Pharmaceuticals will be interesting to observe as this clinical data unfolds.
