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EyePoint, Inc. shares its financial situation and plans to cut its workforce by about 53%.

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Bad for EYPT

EyePoint will end its pivotal wet AMD trials early and cut about 53% of its staff. Those losses outweigh the benefit of focusing more resources on its DME program.

EYPT · EyePoint, Inc.

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EyePoint’s remaining late-stage work is focused on DME, which may help it concentrate spending. The filing does not say what LUCIA’s results showed. Still, ending the wet AMD trials and cutting about 53% of staff outweighs that focus, especially with about $9 million in expected cash costs.

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