EyePoint Pharmaceuticals (EYPT) stock fell more than 71% on August 17, 2026, hitting a 52-week low of $4.06 after the company reported topline results from its pivotal Phase 3 LUGANO trial.
EyePoint Pharmaceuticals, Inc., EYPT
The trial tested DURAVYU 2.7 mg in patients with wet age-related macular degeneration. The drug failed to meet its primary visual acuity endpoint when measured across the full patient dataset.
That’s the headline investors reacted to, and the sell-off was swift.
EyePoint did offer some context. In an ad hoc analysis that excluded a small cohort of patients whose vision loss was unrelated to wet AMD, DURAVYU showed non-inferiority to on-label aflibercept. But ad hoc analyses carry less regulatory weight than the pre-specified primary endpoint, and the market priced that in fast.
The secondary results were genuinely strong. DURAVYU reduced treatment burden by 42% compared to aflibercept. Patients also showed high supplement-free rates through Week 56, solid anatomic control, and a clean safety profile with repeat dosing.
The drug did not fail outright. It missed on the full dataset primary endpoint, which is the key regulatory bar, but the overall picture is more mixed than the stock price drop suggests.
EyePoint is now pointing to its second pivotal Phase 3 trial, LUCIA, with data expected in late 2026. A U.S. regulatory filing remains on the table for the first half of 2027, though that path now depends heavily on what LUCIA delivers.
The company also has parallel Phase 3 programs running in diabetic macular edema, keeping the pipeline active beyond the wet AMD indication.
Before the trial results, Mizuho had raised its price target on EYPT to $39, maintaining an Outperform rating. Stifel had initiated coverage with a Buy rating and a $40 price target.
The most recent analyst rating on record is a Buy with a $39 price target. That implies enormous upside from current levels, though those targets pre-date today’s data and may be revised.
EYPT carries a beta of 1.74, reflecting how volatile this stock has been. Even before today’s drop, the stock was up 33% over the prior 12 months, showing just how much these binary clinical readouts can swing a biotech.
Stockholders recently approved an amendment to EyePoint’s 2023 Long-Term Incentive Plan, adding 4.9 million authorized shares. Directors including Göran Ando, M.D. and Jay S. Duker, M.D. were elected at the 2026 Annual Meeting to serve through 2027.
EyePoint’s current market cap sits at approximately $1.27 billion. The company has stated it has cash runway into Q4 2027.
LUCIA Phase 3 data is expected in late 2026.
The post EyePoint (EYPT) Stock Crashes 71% Today. Here Is What Happened appeared first on CoinCentral.
