Aldeyra Therapeutics rises after Oppenheimer upgrades to 'outperform'

Aldeyra Therapeutics

03/04/2024 14:00

** Shares of Aldeyra Therapeutics  ALDX.O  rise 5.6% to
$3.75 premarket
    ** Brokerage Oppenheimer upgrades ALDX to "outperform" from
"perform", says it has more confidence in the path forward for
co's dry eye disease drug reproxalap
    ** Co plans to switch to a different trial design for the
drug, assessing ocular discomfort, which directly addresses the
FDA's key concern after it declined to approve reproxalap -
brokerage
    ** "Additionally, we consider the company's plans to
simultaneously conduct two backup trials as prudent" -
Oppenheimer
    ** Up to last close, stock up 1.1% YTD

 (Reporting by Puyaan Singh)
 ((Puyaan.Singh@thomsonreuters.com;))