EyePoint Pharmaceuticals Inc (NASDAQ:EYPT) shares surged 176% to $18.24 in midday trading on Monday after the therapeutics developer announced positive results from a Phase 2 trial of its EYP-1901 treatment for wet age-related macular degeneration, or wet-AMD.
EyePoint said the clinical trial met its primary endpoint, in addition to key secondary endpoints, while maintaining a favorable safety profile with no ocular or systemic serious adverse events.
"Since EYP-1901 achieved statistical non-inferiority to the aflibercept control in this trial there is potential for meaningfully lower sized and lower cost pivotal Phase 3 trials," EyePoint Pharmaceuticals CEO Jay Duker said in a statement.
Eyepoint noted that it remains on track to reach additional clinical milestones with EYP-1901 with the initiation of the Phase 2 VERONA trial in diabetic macular edema (DME) anticipated in the first quarter of 2024 and the readout of topline data from the Phase 2 PAVIA trial in non-proliferative diabetic retinopathy (NPDR) anticipated in 2Q 2024.
The company added that it plans to present the DAVIO 2 dataset, a randomized, controlled Phase 2 clinical trial of EYP-1901 in previously treated patients with wet AMD, at Angiogenesis, Exudation, and Degeneration 2024 in February.
Shares of Eyepoint Pharmaceuticals have gained 395% year to date.
Contact Sean at sean@proactiveinvestors.com