Aldeyra Therapeutics Stock Skyrockets on Dry Eye Study Results

Advertisement

Aldeyra Therapeutics stock (NASDAQ:ALDX) was skyrocketing early in the day Wednesday as the company announced the results of its latest dry eye drug study.

Aldeyra Therapeutics Stock

The Lexington, Mass.-based company said that it experienced positive results from its Phase 2b trial of its ocular drug reproxalap for patients who suffer from dry eye disease. The company said that patients who get a 0.25% concentration of reproxalap experienced significant reductions in the Four-Symptom Ocular Dryness score, as well as the Overall Ocular Discomfort Symptom score.

Additionally, Aldeyra Therapeutics found that the treatment helped to reduce the symptoms of dry eye disease across all measures when placed against a placebo, the company wrote. The company said that the successful Phase 2b results have been encouraging enough to schedule a Phase 3 program for the drug that will be rolled out next year, although U.S. regulators have yet to review this suggestion.

“The addition of dry eye disease to our late-stage clinical portfolio, which includes Phase 3 clinical trials in allergic conjunctivitis and noninfectious anterior uveitis, highlights the potential of reproxalap as a highly differentiated and novel ophthalmic therapy,” noted Aldeyra CEO Todd Brady.

The adverse effects of the medication were reported as being mostly mild.

ALDX stock was up about 63.4% during regular trading hours early on Wednesday following the positive news.


Article printed from InvestorPlace Media, https://investorplace.com/2018/09/aldeyra-therapeutics-stock-aldx/.

©2024 InvestorPlace Media, LLC