EyePoint cuts 53% of workforce after trial setback

• EyePoint approved plans to eliminate approximately 53% of its workforce after the Phase 3 LUCIA wet AMD trial failed to meet its primary endpoint.
• The restructuring is expected to generate approximately $30 million in annualized savings, with $9 million in employee separation charges and approximately $118 million in cash and short-term investments at September 30.
• EyePoint will prioritize DURAVYU for diabetic macular edema, with pivotal Phase 3 results expected in Q4 2027.

EyePoint (NASDAQ:EYPT) announced plans to reduce its workforce by approximately 53%, targeting $30 million in annual savings following disappointing Phase 3 results.

The restructuring follows the LUCIA wet age-related macular degeneration trial, missing its primary non-inferiority endpoint, despite vision improvements and positive secondary outcomes.

EyePoint is shifting resources toward diabetic macular edema after deciding to discontinue its pivotal wet AMD trials before completing their second year.

The company expects approximately $9 million in employee separation charges, with most layoffs occurring in Q4 2026 and restructuring completion expected by mid-2027.

EyePoint anticipates pivotal diabetic macular edema results in Q4 2027.

The company estimated $118 million in cash, cash equivalents and short-term investments at September 30, down from $180 million at June 30.

EyePoint completed enrollment of more than 480 patients across its COMO and CAPRI Phase 3 diabetic macular edema trials in July 2026.