EyePoint Inc (EYPT.A): Setup Continues to Appear Very Favorable Ahead of LUGANO Topline in Mid- to Late August.

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05 Aug 2026 12:29:05 ET │ 12 pages

EyePoint Inc (EYPT.A)

Setup Continues to Appear Very Favorable Ahead of LUGANO Topline in

Mid-to-Late August.

CITI'S TAKE

EYPT’s 2Q26 update kept timelines intact, with LUGANO topline expected

likely in mid-to-late August and LUCIA in 4Q26. Focus remains on

LUGANO’s topline package, which we expect to include BCVA noninferiority, safety, treatment burden reduction, and visual acuity

commentary; mgmt. has also noted potentially including subgroup

analyses (naïve vs. previously treated), rescue-free rates, and/or BCVA

superiority. We continue to view DURAVYU as very well positioned to hit

non-inferiority vs. on-label aflibercept, supported by DAVIO 2, and believe

that concerns that lower DURAVYU rescue could impair mean BCVA are

misunderstood, as tightened Ph3 criteria only removed DAVIO 2 rescue

triggers that did not improve BCVA, reducing unnecessary

supplementation. KOLs remain positive on DURAVYU’s profile and view

BCVA non-inferiority, >33% treatment burden reduction, and clean safety

without anterior chamber opacities as benchmarks for a strong

commercial profile, which, if achieved, would likely drive meaningful

upside in the stock (here, here).

Buy / High Risk

Catalyst Watch: Upside, expires 03-NOV-26

Price (04 Aug 26 16:00)

US$11.78

Target price

US$35.00

Expected share price return

197.1%

Expected dividend yield

0.0%

Expected total return

197.1%

Market Cap

US$988M

Yigal Nochomovitz, Ph.D.AC

Joohwan Kim

Caroline DePaul