Aldeyra Therapeutics shares are trading higher after the company announced the Phase 3 INVIGORATE-2 Trial of reproxalap ophthalmic solution for allergic conjunctivitis achieved statistical significance for the primary endpoint and all secondary endpoints.
Portfolio Pulse from Benzinga Newsdesk
Aldeyra Therapeutics announced positive results from its Phase 3 clinical trial of reproxalap, an investigational treatment for dry eye disease. The trial met its primary and secondary endpoints, and the company plans to submit a New Drug Application to the FDA in 2023.
June 15, 2023 | 3:33 pm
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POSITIVE IMPACT
Aldeyra Therapeutics' positive Phase 3 trial results for reproxalap may boost investor confidence and potentially increase the stock price in the short term.
The positive results from the Phase 3 clinical trial of reproxalap indicate that the drug is effective in treating dry eye disease. This news is likely to increase investor confidence in the company's ability to bring the drug to market, which may lead to an increase in the stock price in the short term. The company's plan to submit a New Drug Application to the FDA in 2023 also adds to the potential for future revenue generation.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100