EyePoint, Inc. (Nasdaq: EYPT) announced a strategic prioritization plan on October 19, 2026, following the topline readout of the Phase 3 LUCIA clinical trial evaluating DURAVYU for the treatment of wet age-related macular degeneration (wet AMD). The LUCIA trial did not meet its primary endpoint of non-inferiority, despite meeting key secondary endpoints including reduction in treatment burden, supplement-free rates, anatomic control, and safety with redosing.
As a result of the clinical setback, the Board of Directors approved a plan to reduce operating expenses and focus resources on the Company’s late-stage program for DURAVYU in diabetic macular edema (DME). The strategic realignment includes a plan to conclude the pivotal Phase 3 wet AMD clinical trials early and reduce the Company’s workforce by approximately 53%. The majority of the workforce reduction is expected to occur during the fourth quarter of 2026 and to be completed during the first half of 2027.
Key financial and operational details of the plan include:
- Workforce Reduction: Approximately 53% of positions across the organization will be eliminated.
- Annualized Savings: The plan is expected to generate estimated annualized savings of approximately $30 million.
- One-Time Charges: The Company estimates it will incur aggregate charges of approximately $9 million related to employee separation benefits, including severance and other related expenses. A majority of these charges are expected to be recognized during the fourth quarter of 2026, with the remaining recognized through the third quarter of 2027.
- Cash Position: EyePoint estimates it had approximately $118 million in cash, cash equivalents, and short-term investments as of September 30, 2026.
EyePoint plans to prioritize the clinical development of DURAVYU for the potential treatment of DME. The Company expects pivotal Phase 3 topline data from the COMO and CAPRI trials in DME to be reported in the fourth quarter of 2027.
