EyePoint Cuts 53% of Staff After Eye Drug's Second Phase 3 Miss

EyePoint will cut about 53% of its workforce after Duravyu, its experimental eye insert, missed the main goal of a second phase 3 trial in wet age-related macular degeneration (wet AMD). The company announced the plan on October 19, 2026, and will now focus on diabetic macular edema (DME).

What happened

The LUCIA trial in wet AMD did not meet its primary endpoint of non-inferiority, EyePoint said, although patients' vision improved. The trial met key secondary goals, including a lower treatment burden, supplement-free rates and safety with redosing.

LUCIA was the second of two pivotal wet AMD trials. The first trial missed in August: Duravyu failed to show non-inferiority to Eylea on visual acuity at weeks 52 and 56, Fierce Pharma reported. EyePoint argued that the drug did meet that bar once nine patients with vision loss unrelated to wet AMD were left out. Its shares fell more than 70% after that result.

EyePoint outlined these steps:

• Job cuts: about 53% of employees, mostly in the fourth quarter of 2026, finishing in the first half of 2027.
• Cost: about $9 million in one-time charges for separation benefits, with estimated annualized savings of about $30 million.
• Trials: the wet AMD phase 3 trials will end early, without completing their second year.
• New focus: two phase 3 DME trials, COMO and CAPRI, with topline data expected in the fourth quarter of 2027.

EyePoint had about $118 million in cash, cash equivalents and short-term investments as of September 30, 2026. Duravyu (vorolanib intravitreal insert) is not approved by the FDA.

Why it matters

Duravyu is an insert meant to cut how often patients need eye injections. Both wet AMD phase 3 trials missed their main goal, and EyePoint is now ending them early.

The company is now betting on DME. In its earlier phase 2 VERONA trial, patients kept their vision gains and more than 70% of patients needed no extra injections for six months, the company said.

What it means for people in the industry

The cuts cover about 53% of positions across the company. The release does not give a headcount or say which roles or sites are affected. Most of the cuts come in the fourth quarter of 2026. The next big test is the DME data expected in late 2027.

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Sources

• EyePoint Announces Strategic Prioritization, EyePoint press release (SEC filing)
• EyePoint shares plummet after phase 3 stumble for AMD drug-device combo Duravyu, Fierce Pharma