Aldeyra's New Eye Drug Shows Positive Results In FDA-Approved Study, Stock Jumps Over 30%
Portfolio Pulse from Vandana Singh
Aldeyra Therapeutics Inc. (NASDAQ: ALDX) announced that its Phase 3 clinical trial for the dry eye drug reproxalap met its primary endpoint, showing significant improvement in ocular discomfort. The study's success has led to a 34.8% increase in ALDX stock price. The company plans to resubmit its New Drug Application (NDA) to the FDA in 2024, with a review period expected to last six months.
August 08, 2024 | 4:30 pm
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Aldeyra Therapeutics' Phase 3 trial for reproxalap met its primary endpoint, significantly improving ocular discomfort in dry eye patients. The stock surged 34.8% following the announcement. The company plans to resubmit its NDA to the FDA in 2024, with a six-month review period expected.
The positive Phase 3 trial results for reproxalap significantly improve the outlook for Aldeyra Therapeutics, leading to a substantial stock price increase. The planned NDA resubmission and the absence of safety concerns further bolster investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100