The legal scrutiny follows the August 17, 2026, disclosure regarding the LUGANO study, a Phase 3 clinical trial testing the efficacy of DURAVYU for wet age-related macular degeneration. EyePoint reported that the treatment failed to demonstrate the required change in best-corrected visual acuity when compared against the standard on-label aflibercept. This shortfall in the full dataset triggered a sharp market reaction, wiping out more than two-thirds of the company's valuation.

Kessler Topaz, a Radnor-based firm specializing in securities-fraud class actions, is now seeking to represent investors who purchased shares prior to the crash and sustained significant financial losses. The firm, which has secured over $25 billion in recoveries for clients, is evaluating whether the company’s disclosures met legal requirements during the trial period. Affected shareholders have been invited to discuss potential legal claims through the firm’s dedicated portal, with the investigation currently operating on a no-cost basis for potential plaintiffs.