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EyePoint Pharmaceuticals is cutting its workforce by 50% and ending its late-stage clinical trials for wet age-related macular degeneration (AMD) following a second clinical trial failure.
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Multiple financial institutions, including JPMorgan, Mizuho Securities, and Guggenheim, downgraded EyePoint Pharmaceuticals' stock rating following the company's recent clinical trial failure.
Laidlaw & Co. analyst Yale Jen downgrades EyePoint (NASDAQ:EYPT) from Buy to Hold.