EyePoint to Cut 53% of Workforce After Trial Failure
EyePoint said it would stop studies of its experimental age-related vision disease drug after a second late-stage trial failed. Its shares fell more than 75% in premarket trading.
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12:19:47 PM UTC
SquawkNews
By Mariapaula GonzalezEyePoint stock is in trouble. But a shift in strategy following discouraging study results for its eye treatment candidate could offer some hope.Shares of the clinical-stage biopharmaceutical company plummeted after management said it failed to achieve its primary endpoint in…
EyePoint (NASDAQ:EYPT) said Monday it plans to reduce its workforce by about 53% and discontinue studies of its experimental treatment for an age-related vision disease, following the failure of a second late-stage trial. The company’s shares fell more than 75% in premarket trading.