Aldeyra Therapeutics rises as AbbVie extends option agreement for eye disease drug

Aldeyra Therapeutics

22/12/2023 15:57

** Shares of Aldeyra Therapeutics  ALDX  rise 5.5% to $3.5
after AbbVie  ABBV.N  extends option agreement with co for eye
drug candidate 
    ** ABBV has extended the period to exercise an option for
co-development, co-commercialization and license deal with ALDX
for drug candidate, reproxalap, to treat dry eye disease 
    ** ABBV will pay ALDX $5 mln, extending an option agreement
signed in November
    ** Under the deal, ALDX is eligible to receive up to $300
million in regulatory and commercial milestone payments
    ** Including session moves, stock down 48.5% YTD

 (Reporting by Sneha  S K)
 ((Sneha.SK@thomsonreuters.com;))