: EyePoint Pharmaceuticals’ stock soars 362% after company announces positive data from trial of wet AMD treatment

EyePoint Pharmaceutics Inc.’s stock EYPT rocketed 362% early Monday, after the company announced positive results from a Phase 2 trial of its EYP-1901 treatment for wet age-related macular degeneration, or wet AMD. The company said the study combining vorolanib, a selective tyrosine kinase inhibitor with bioerodible Durasert E, met its primary endpoint as well as key secondary endpoints with both doses used in the study, including a more than 80% reduction in treatment burden, nearly two-thirds of eyes supplement-free up to six months and over 80% receiving only zero or one supplement up to six-months. “Wet AMD is a prevalent and progressive lifetime disease. With frequent treatment, patients can maintain their visual acuity, but the unfortunate reality is that many patients end up undertreated due to the burden of dosing of the currently available, short-acting anti-VEGF therapies,” said DR. Carl Regillo, Chief of Retina Service at Wills Eye Hospital. The company plans to release the full dataset at Angiogenesis, Exudation, and Degeneration 2024 in February. The stock has gained 89% in the year to date, while the S&P 500 SPX has gained 19.7%.

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