Why Is EyePoint Pharmaceuticals Stock Plummeting On Monday?
Portfolio Pulse from Vandana Singh
EyePoint Pharmaceuticals Inc. (NASDAQ:EYPT) reported that its Phase 2 PAVIA trial of Duravyu for non-proliferative diabetic retinopathy did not meet the primary endpoint, despite showing a biologic effect and favorable safety profile. The company plans to review the full 12-month data for future direction. Shares plummeted 29.9% to $13.84 in premarket trading.
May 06, 2024 | 1:00 pm
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EyePoint Pharmaceuticals' stock plummeted following the announcement that its Phase 2 trial of Duravyu did not meet the primary endpoint, despite showing a biologic effect and favorable safety profile.
The stock price of EyePoint Pharmaceuticals significantly dropped due to the disappointing results from the Phase 2 PAVIA trial of Duravyu. Despite the drug showing a biologic effect and a favorable safety profile, failing to meet the primary endpoint typically raises concerns about the drug's efficacy and future approval prospects, leading to negative investor sentiment and a decrease in stock price.
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