EyePoint's drug for age-related eye disease fails late-stage trial, shares tank 70%

EyePoint’s experimental drug Duravyu failed a late-stage trial for a serious eye disease, causing shares to plunge over 65% on Monday. The company said the trial missed its vision improvement target. Analyst Graig Suvannavejh said "investors are likely to discount" the company's explanation for the trial unless confirmed later.