EyePoint Pharmaceuticals (NASDAQ:EYPT) stock is rocketing higher on Monday thanks to the company’s latest clinical trial results for EYP-1901.
A Phase 2 clinical trial of EYP-1901 includes positive topline results for the drug as a sustained delivery maintenance treatment for wet age-related macular degeneration (wet AMD). That was in combination with vorolanib.
EyePoint Pharmaceuticals notes that this saw the clinical trial meet its primary endpoint. In addition to that, it also met key secondary endpoints as well. It achieved these two successes while maintaining a favorable safety profile with no ocular or systemic serious adverse events.
What’s Next for EYPT Stock?
Jay Duker, President and CEO of EyePoint Pharmaceuticals, said the following about the company’s future plans:
“The 32-week topline DAVIO 2 data strongly supports our planned Phase 3 non-inferiority design, consistent with the FDA’s recent guidance for wet AMD clinical trials. We look forward to continuing our dialogue regarding our Phase 3 plans with the FDA as we prepare to initiate our first pivotal trial for wet AMD in the second half of 2024.”
EYPT stock is seeing heavy trading today alongside this clinical trial update. That has more than 13 million shares changing hands as of this writing. For comparison, its daily average trading volume is about 522,000 shares.
EYPT stock is up 187.4% as of Monday morning.
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On the date of publication, William White did not hold (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.
