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EyePoint cuts workforce by 53% and ends wet AMD trials after LUCIA failure, incurring $9M charges
EYPTEyePoint, Inc.
Following a Phase 3 clinical trial failure for its lead drug candidate DURAVYU in wet age-related macular degeneration (wet AMD), EyePoint's Board approved a strategic prioritization plan to reduce operating expenses and preserve capital. The company will conclude the pivotal LUCIA trials early and cut approximately 53% of its workforce, with reductions occurring primarily in Q4 2026 and completing by H1 2027. This restructuring is expected to generate annualized savings of $30 million but will incur one-time aggregate charges of approximately $9 million for employee separation benefits. EyePoint will now focus resources on the late-stage development of DURAVYU for diabetic macular edema (DME), with pivotal data expected in Q4 2027. The company reported preliminary cash and short-term investments of $118 million as of September 30, 2026. EyePoint is a clinical-stage biopharmaceutical company developing innovative therapeutics for serious retinal diseases.