Eyepoint's Phase 3 trial misses goal, shares tumble as rival gains
Eyepoint reported that its experimental wet AMD drug failed to keep vision with fewer injections, missing the primary endpoint of its Phase 3 study.
The company disclosed that patients receiving the new treatment did not maintain visual acuity when dosing was reduced compared with the standard regimen, causing the trial to fall short of its main objective. The setback threatens Eyepoint's plan to file for regulatory clearance of the drug, named Duravyu. In market reaction, Eyepoint's stock dropped sharply, while shares of Ocular Therapeutix, which is also developing a less-frequent injection therapy for wet AMD, rose.
Why it matters
The trial miss delays a potentially easier treatment for wet AMD and impacts investors in the eye-care biotech sector.
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