Why Are EyePoint Shares Trading Higher Today?

EyePoint Pharmaceuticals Inc EYPT has announced six-month interim data from the Phase 1 trial of EYP-1901 in wet age-related macular degeneration (wet AMD).
No reports of ocular SAEs or drug-related systemic SAEs were reported.
The data showed that 76% and 53% of patients did not require rescue following a single dose of EYP-1901 up to four and six months, stable, respectively.
The patients sustained BCVA (-2.5 letters) and CST (-2.7 μm), a 79% reduction in treatment burden at six months, and a median time.
EyePoint plans to initiate a Phase 2 wet AMD trial in 2022.
The Company has scheduled a Type C meeting with the FDA on December 1, 2021, to discuss specific plans and obtain guidance on potential EYP-1901 registration trials.
The Company also expects to initiate additional EYP-1901 clinical trials in diabetic retinopathy and retinal vein occlusion.
“The results of our Phase 1 study in wet AMD are what we had hoped to achieve, and as a result, we will now progress to Phase 2 studies in wet AMD, Diabetic Retinopathy and Retinal Vein Occlusion. These are large, billion-dollar markets with millions of patients who suffer from these potentially blinding eye diseases. Getting over 50% of patients out to 6 months without retreatment is a big deal. Delivering drugs to the eye over an extended period is hard to do. Who wants to get their eye injected every month or every two months (current treatment) for the rest of their lives? I wouldn’t, Nancy Lurker, CEO of EyePoint Pharmaceuticals, told Benzinga.
“I caution your audience that this is a small (n=17) trial, so we really need to get to much larger (n>150 patients) to be more confident in the results. But, we are very excited!” added Lurker.
Price Action: EYPT shares are up 45% at $20.31 during the premarket session on the last check Monday.

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