EyePoint Pharmaceuticals (NASDAQ:EYPT) stock is heading higher on Monday thanks to results from a Phase 1 clinical trial.
EyePoint Pharmaceuticals released interim results from its clinical trial of EYP-1901 for the treatment of wet age-related macular degeneration (wet AMD). EYP-1901 is a “bioerodible sustained delivery intravitreal anti-vascular endothelial growth factor” treatment.
Today’s data comes after six months of testing EYP-1901 on patients suffering from wet AMD. During that time, there were no reports of “ocular SAEs or drug-related systemic SAEs.” The company also notes that “76% and 53% of patients did not require rescue following a single dose of EYP-1901 up to four and six months.”
In addition to that data, EyePoint Pharmaceuticals also points out stable and sustained BCVA. The interim results also include a “79% reduction in treatment burden at six months,” as well as “a median time to rescue of six months across all patients.”
Nancy Lurker, CEO of EyePoint Pharmaceuticals, said this in the news release boosting EYPT stock today.
“We are very encouraged by these data that reinforce EYP-1901’s positive safety profile and its durable anti-VEGF activity up to six months so far in the majority of enrolled patients after a single intravitreal injection.”
The positive clinical trial data has EYPT experiencing heavy-than-normal trading today. That includes some 13 million moving as of this writing. That’s well above the company’s daily average trading volume of about 144,000 shares.
EYPT stock is up 18.6% as of Monday morning.
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.