Aldeyra falls as FDA declines to approve its eye disease drug

Aldeyra Therapeutics

27/11/2023 22:12

** Shares of therapy developer Aldeyra Therapeutics  ALDX.O 
fall ~2.3% to $2.56 after the bell
    ** Co says the U.S. FDA declined to approve its drug
reproxalap for the treatment of dry eye disease
    ** In its so called complete response letter, the FDA said
that an additional trial is required to show positive effect of
the drug in treating symptoms of the disease - ALDX
    ** Co expects to resubmit marketing application for the drug
in the first half of 2024
    ** Adds co is extending previous cash runway outlook into
late 2025
    ** Up to last close, stock down 62.4% YTD

 (Reporting by Christy Santhosh)
 ((Christy.Santhosh@thomsonreuters.com))