Eyepoint Pharmaceuticals Inc (NASDAQ: EYPT) is having an incredibly strong start to the trading session this morning after the company announced the presentation of positive clinical data. As you could imagine, the data excited investors, pushing the stock on a run for the top. Today, we’ll talk about:
- The data presentation;
- what we’re seeing from EYPT stock as a result; and
- what we’ll be watching for ahead.
EYPT Stock Gains On Data Presentation
As mentioned above, EyePoint Pharmaceuticals is having a great day in the market today after announcing a data presentation. The announcement came by way of press release early this morning.
In the release the company announced the presentation of 36-month efficacy and safety data supporting its YUTIQ 0.18 mg three-year micro-insert for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye.
EYPT said that the data was presented by Glenn J. Jaffe, M.D., at the 2019 Association for Research in Vision and Opthalmology (ARVO) Annual Meeting. In a statement, Dr. Jaffe had the following to offer:
The 36-month follow-up data of the Phase 3 clinical trial showed a uveitis recurrence rate of 56.3% for YUTIQ, which was significantly lower than that of sham-treated eyes which was 92.9%. It is critically important to decrease uveitic recurrences to prevent blindness associated with secondary effects of inflammation.
Safety results at 36-months were similar to the 24-month update with no unanticipated side effects. Of particular note, the procedure rate to treat glaucoma was no higher in the YUTIQ group than in the sham group. These durable and promising 36-month results continue to reinforce the potential of YUTIQ as a long-acting treatment option for patients suffering from this chronic disease, which is the third leading cause of blindness.
The above statement was followed up by Nancy Lurker, President and CEO at EYPT. Here’s what she had to say:
The positive, long-lasting 36-month data further enhances our differentiated YUTIQ product profile compared to existing therapies for non-infectious posterior segment uveitis. We believe YUTIQ addresses the limitations of local corticosteroids, the current standard of care for uveitis, by providing a one-time administration of continuous dosing of fluocinolone acetonide for up to 36 months, which avoids drug peaks and valleys and improves patient compliance. We recently made YUTIQ commercially available and are pleased to be providing YUTIQ as a treatment option for the patients suffering from this devastating ocular disease.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Eyepoint Pharmaceuticals, the news proved to be overwhelmingly positive.
After all, the strong data further supports the use of the company’s YUTIQ for the treatment of uveitis. This data will likely help to imrpove sales. So, it’s not surprising to see that excited investors are pushing the stock for the top.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (8:38), EYPT is trading at $1.83 per share after a gain of $0.12 per share or 7.02% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on EYPT. In particular, we’re interested in seeing how the company uses this new data to increase sales. Nonetheless, we’ll keep a close eye on the news and bring it to you as it breaks!
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