Aldeyra falls after US FDA declines to approve eye disease drug

Aldeyra Therapeutics

28/11/2023 15:51

** Shares of Aldeyra Therapeutics  ALDX.O  fall 4.6% to $2.5
 
    ** Co, late on Monday, said the U.S. FDA declined to approve
its experimental drug to treat dry eye disease
    ** FDA said the company's drug, reproxalap, did not
demonstrate efficacy in treating symptoms of the disease - ALDX
    ** The health regulator said at least one additional
"adequate and well-controlled" study is required to demonstrate
a positive effect of the treatment 
     ** ALDX expects to resubmit marketing application for the
drug in the first half of 2024
    ** Including session's move, stock down ~64% YTD

 (Reporting by Mariam Sunny in Bengaluru)
 ((Mariam.ESunny@thomsonreuters.com;))