EyePoint’s Phase 3 LUGANO results for Duravyu (vorolanib intravitreal insert) missed the primary endpoint of non-inferiority versus standard-of-care Eylea (aflibercept) in wet age-related macular degeneration. The setback threatens EyePoint’s regulatory path for a longer-injection regimen. In the coverage, EyePoint’s prospects for a second chance—another Phase 3 program—were reframed as the next material catalyst, but the initial failure already hit investor sentiment sharply. Competitive pressure also surfaced, with Ocular Therapeutix’s parallel development efforts gaining attention. The readout marks another high-stakes moment for intravitreal portfolio strategies aiming to reduce injection burden, an area where clinical efficacy and durability remain tightly linked to approval prospects.