EyePoint Clinical Trial Misses Primary Endpoint, Multiple Analysts Cut Price Targets

EyePoint Inc. on Monday announced top-line results from its pivotal Phase III LUGANO clinical trial evaluating DURAVYU for the treatment of wet age-related macular degeneration.

While key secondary endpoints showed significant clinical progress, the study missed its primary visual acuity endpoint due to a confounding patient subgroup.

"We are pleased to see that DURAVYU delivered clinically meaningful results in the LUGANO trial. The outstanding outcomes on key secondary endpoints, coupled with visual improvements, reinforce our confidence that DURAVYU has the potential to transform the current treatment paradigm for wet AMD," said Jay S. Duker, M.D., President and Chief Executive Officer of EyePoint. "While the primary endpoint result in the full dataset was unexpected, the consistently positive results on pre-specified secondary endpoints and post-hoc analyses of the primary endpoint provide a compelling case for DURAVYU as a novel potential treatment option for wet AMD. We look forward to a potential New Drug Application submission to the FDA in the first half of 2027, pending LUCIA results in the fourth quarter of 2026."

EyePoint shares rose 9% on Tuesday, trading at $5.31.

The following analysts adjusted their price targets on EyePoint following the announcement.

Citi analyst Yigal Nochomovitz maintained a Buy rating on the stock and lowered the price target from $35 to $17.

RBC Capital analyst Lisa Walter downgraded the stock from Outperform to Sector Perform and lowered the price target from $37 to $5.

Chardan Capital analyst Andreas Argyrides downgraded the stock from Buy to Neutral and significantly lowered the price target from $65 to $5.

HC Wainwright & Co. analyst Yi Chen downgraded the stock from Buy to Neutral.

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