Shares of EyePoint Pharmaceuticals (NASDAQ: EYPT) soared by 5.12% on Monday, October 29th, as investors cheered the company's positive interim clinical data for its lead pipeline candidate Duravyu.
The rally was fueled by EyePoint's announcement of positive 16-week interim data from the ongoing Phase 2 VERONA study, evaluating Duravyu for the treatment of diabetic macular edema. Additionally, the company said it has dosed the first patient in the Phase 3 LUGANO study, investigating Duravyu for the treatment of wet age-related macular degeneration.
The encouraging clinical updates surrounding Duravyu, a potential treatment for major eye diseases, boosted investor confidence in EyePoint's prospects. Analysts at Chardan Capital reiterated their "Buy" rating on EYPT stock, reflecting optimism about Duravyu's development pathway.
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