EyePoint slashes workforce after drug trial failure
EyePoint is cutting 53 percent of its staff and halting studies for its experimental eye disease drug after a second late-stage trial failed. The company plans to save thirty million dollars annually and shift focus to other treatments.
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EYEPOINT INC will slash 53% of its workforce and halt studies for its experimental eye drug after a second late-stage trial failure. The company's shares plunged 75% in premarket trading on Monday following the announcement. The restructuring marks a major setback for the clinical-stage pharmaceutical firm's lead treatment candidate.
