Key TakeawaysShares of EYPT plummeted more than 71% to $4.06 on August 17, 2026, marking a new 52-week lowDURAVYU failed to achieve its primary visual acuity goal in the Phase 3 LUGANO trial’s complete patient populationA post-hoc analysis that removed a small unbalanced patient subset demonstrated non-inferiority compared to afliberceptThe trial’s secondary measures proved encouraging, showing a 42% decrease in treatment frequency versus afliberceptThe company maintains plans to submit regulatory filings in H1 2027, contingent on forthcoming LUCIA trial resultsShares of EyePoint Pharmaceuticals (EYPT) experienced a dramatic collapse of over 71% on August 17, 2026, plunging to a 52-week nadir of $4.06 following the release of topline data from the company’s crucial Phase 3 LUGANO clinical study.EyePoint Pharmaceuticals, Inc., EYPTThe clinical trial evaluated DURAVYU 2.7 mg as a treatment for patients diagnosed with wet age-related macular degeneration. The investigational therapy did not achieve its predetermined primary endpoint measuring visual acuity improvement across the complete study population.This became the critical headline that triggered the immediate and severe market response.EyePoint management attempted to provide additional perspective on the results. A supplementary post-hoc examination that removed a limited group of participants whose vision deterioration stemmed from causes unrelated to wet AMD revealed that DURAVYU demonstrated non-inferiority when compared to commercially available aflibercept. However, retrospective analyses lack the regulatory credibility of prospectively defined primary endpoints, a reality that market participants swiftly incorporated into their valuation.The trial’s secondary outcomes presented a more favorable narrative. DURAVYU achieved a 42% reduction in treatment frequency when benchmarked against aflibercept. Study participants also demonstrated elevated supplement-free interval rates extending through Week 56, effective anatomical disease control, and a favorable safety profile across multiple dosing cycles.Interpreting the Clinical ResultsThe investigational drug didn’t experience complete failure. While it fell short on the prespecified primary measure across the entire study cohort—the critical regulatory threshold—the comprehensive dataset presents a more nuanced picture than the dramatic stock decline might suggest.EyePoint management is now directing attention toward LUCIA, its companion pivotal Phase 3 investigation, with topline results anticipated in late 2026. The pathway to a U.S. regulatory submission during the first half of 2027 remains viable, though success now hinges substantially on the LUCIA trial’s performance.The company maintains active parallel Phase 3 development programs targeting diabetic macular edema, sustaining pipeline momentum beyond the wet AMD therapeutic area.Wall Street Price Targets Remain Substantially HigherPrior to the trial readout, Mizuho had upgraded its EYPT price objective to $39 while reaffirming an Outperform recommendation. Stifel had launched coverage with a Buy rating and established a $40 target price.The latest analyst assessment on file carries a Buy recommendation with a $39 valuation target. This suggests substantial potential appreciation from present trading levels, though these projections predate today’s clinical announcement and will likely undergo revision.EYPT demonstrates a beta coefficient of 1.74, underscoring the substantial volatility characteristic of this equity. Prior to today’s selloff, shares had appreciated 33% across the preceding twelve-month period, illustrating the magnitude of price swings that binary clinical events can generate in biotechnology stocks.Shareholders recently ratified a modification to EyePoint’s 2023 Long-Term Incentive Plan, expanding the authorized share count by 4.9 million. Board members including Göran Ando, M.D. and Jay S. Duker, M.D. received election at the 2026 Annual Meeting to continue their directorships through 2027.EyePoint’s present market capitalization stands at roughly $1.27 billion. Management has communicated that existing capital reserves provide operational runway extending into the fourth quarter of 2027.Topline data from the LUCIA Phase 3 trial is projected for late 2026.The post EyePoint Pharmaceuticals (EYPT) Stock Plummets 71% Following Phase 3 Trial Disappointment appeared first on Blockonomi.