24/7 Market News Snapshot 28 October, 2024 – EyePoint Pharmaceuticals, Inc. Common Stock (NASDAQ:EYPT)

October 28, 2024

DENVER, Colo., 28 October, 2024 (247marketnews.com) – (NASDAQ:EYPT) are discussed in this article.
EyePoint Pharmaceuticals, Inc. has experienced a significant surge in the market, with shares opening at $10.68 and escalating to an impressive $13.065, marking a remarkable increase of 37.53%. This rise comes in light of substantial investor interest, as reflected by a robust trading volume of 847.75K shares, signaling growing confidence in the company’s potential. Technical indicators suggest bullish momentum, and market observers are keenly watching how this breakout trajectory will evolve throughout the trading day.

In addition to its market performance, EyePoint has announced promising interim results from the ongoing Phase 2 VERONA clinical trial of DURAVYU, an investigational sustained delivery therapy for patients with diabetic macular edema (DME). The latest data indicates that DURAVYU 2.7mg has achieved early and sustained improvements in best-corrected visual acuity (BCVA) and central subfield thickness (CST). Notably, in comparison to the aflibercept control group, DURAVYU demonstrated a remarkable gain of +8.9 letters in visual acuity along with a 68.1 micron reduction in retinal thickness over a 16-week assessment period.

The trial highlights the therapy’s favorable safety profile, with no ocular or systemic serious adverse events reported thus far. Impressively, at the 16-week mark, 82% of patients receiving DURAVYU 2.7mg were supplement-free, compared to 50% in the control group. Jay S. Duker, M.D., President and Chief Executive Officer of EyePoint, expressed optimism regarding the findings, noting the potential for DURAVYU to transform treatment for DME, a condition posing considerable challenges in diabetic care.

The company aims to release additional topline data in Q1 2025 as patient follow-up progresses. Furthermore, DURAVYU is undergoing evaluation in pivotal Phase 3 trials for wet age-related macular degeneration, emphasizing its dual therapeutic potential. EyePoint remains committed to advancing retinal disease management and improving patient outcomes through innovative therapies.

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