Why Shares of EyePoint Pharmaceuticals Were Rising Monday
Shares of EyePoint Pharmaceuticals (NASDAQ: EYPT) were up more than 20% as of 2:30 p.m. ET on Monday after the healthcare company announced interim masked trial data for its lead therapy to treat two different eye diseases. The stock is up more than 36% so far this year.
EyePoint is a pharmaceutical company that specializes in therapies for serious eye diseases. It has brought two therapies to market: Dexycu, used to reduce inflammation in patients who have had ocular surgery, and Yutiq, used to treat chronic non-infectious uveitis affecting the posterior segment of the eye.
On Monday, the company said that its lead pipeline candidate, EYP-1901, is performing well in phase 2 clinical trials. The first trial is to treat moderate-to-severe non-proliferative diabetic retinopathy, and the second is as a maintenance therapy for wet age-related macular degeneration (AMD).
Source Fool.com
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