Aldeyra 6.842M share Spot Secondary priced at $9.50 » 05:5601/1401/14/21
The deal size was…
The deal size was increased to $65M in common stock from $50M in common stock. Jefferies and SVB Leerink acted as joint book running managers for the offering.
Aldeyra $50M Spot Secondary re-offered at $9.50 » 16:2501/1301/13/21
Jefferies and SVB Leerink…
Jefferies and SVB Leerink are acting as joint book running managers for the offering.
Aldeyra announces common stock offering, no amount given » 16:0501/1301/13/21
Aldeyra Therapeutics announced that it intends to offer and sell, subject to market and other conditions, shares of its common stock in an underwritten public offering. All of the shares in the offering are to be sold by Aldeyra, with net proceeds to be used for the continued development of Aldeyra's lead compound, reproxalap, and its other product candidates, as well as for working capital and other general corporate purposes. Jefferies and SVB Leerink are acting as joint book-running managers for the offering.
|Over a week ago|
Aldeyra could double if topline of TRANQUILITY study positive, says Jefferies » 09:2601/0801/08/21
Jefferies analyst Kelly…
Jefferies analyst Kelly Shi noted that the run-in cohort of a Phase 3 TRANQUILITY trial for reproxalap's dry eye program showed a positive outcome on both symptoms and an alternative sign endpoint, but that the RASP sign-endpoint requires longer time for data analysis. Based on the company's update, she expects positive topline results of the TRANQUILITY study in the first half of 2021, said Shi, who thinks such an event "could trigger +100% share lift." Shi has a Buy rating and $24 price target on Aldeyra, which closed Thursday trading at $8.47.
Aldeyra shares have 'plenty of upside' despite 26% rally, says Citi » 06:3701/0801/08/21
Citi analyst Yigal…
Citi analyst Yigal Nochomovitz sees "plenty of upside" following yesterday's rally and keeps a Buy rating on Aldeyra Therapeutics with a $22 price target. Data from the Phase 3 TRANQUILITY run-in cohort exceeded expectations, with multiple sign endpoints demonstrating a statistically significant benefit, Nochomovitz tells investors in a research note. The analyst sees the $22 price target as "very achievable," especially in the wake of yesterday's data. Nochomovitz believes the stock offers a buying opportunity despite yesterday's 26% rally.
Aldeyra in an 'enviable position' after Phase 3 Tranquility data, says AGP » 13:5501/0701/07/21
Alliance Global Partners…
Alliance Global Partners analyst Matt Cross maintained a Buy rating and $32 price target on Aldeyra shares after the company announced "markedly positive" results from the 23-patient run-in portion of the Phase 3 Tranquility study in patients with dry eye disease. Cross says the data further suggests that 2021 may be a very good year for Aldeyra and believes the company is in an "enviable position," as reproxalap has not only confirmed its ability to product statistically significant improvements in ocular redness relative to vehicle in a DED chamber, but also provided the first credible evidence that these effects on a recognized DED sign endpoint are observed within minutes of administration. Further, the analyst believes the dataset has meaningfully de-risked the full Tranquility dataset ahead.
Aldeyra announces top-line results from run-in cohort in Tranquility study » 07:1801/0701/07/21
Aldeyra Therapeutics announced positive top-line symptom, redness, and Schirmer's test results from the run-in cohort of the Phase 3 TRANQUILITY clinical trial in patients with dry eye disease. The double-masked, single-center, parallel-group run-in cohort enrolled 23 patients: 12 patients were randomized to receive 0.25% reproxalap ophthalmic solution and 11 patients were randomized to receive vehicle ophthalmic solution. Patients received four doses one day prior to and two doses on the day of exposure to a 90-minute dry eye chamber with minimal humidity, high airflow, and forced visual tasking. Over all time points in aggregate in the dry eye chamber, reproxalap was observed to be statistically superior to vehicle for the two assessed symptoms, visual analog scale, VAS, ocular dryness score and ocular discomfort score in the run-in cohort of TRANQUILITY. "The symptom improvement observed in the run-in cohort of TRANQUILITY announced today support the first-line potential use of reproxalap in dry eye disease, and represent the first results from an ophthalmic solution for chronic use that demonstrate activity acutely following drug administration," stated Todd C. Brady, M.D., Ph.D., President and Chief Executive Officer of Aldeyra. "The activity of reproxalap in reducing ocular redness, initially demonstrated in the allergen chamber Phase 2 clinical trial, was also observed in the dry eye chamber run-in results of TRANQUILITY, and we look forward to initiating enrollment of the main cohort." Among many patients and physicians, current dry eye disease therapies are considered inadequate. Discontinuation rates for lifitegrast and cyclosporine, which currently comprise standard of care, exceed 60% within 12 months
Aldeyra confirms SARS-CoV-2 antiviral activity of ADX-1612 » 08:0512/2212/22/20
Aldeyra Therapeutics announced confirmation of SARS-CoV-2 antiviral activity of ADX-1612, in addition to novel anti-inflammatory activity in SARS-CoV-2-infected primary human cells in preclinical studies. The results are derived from an international collaboration with the Max Delbruck Center for Molecular Medicine in the Helmholtz Association in Berlin, Germany, which plans additional studies with colleagues at the Charite - Universitatsmedizin Berlin University Hospital in cell and animal COVID-19 models. "The antiviral and anti-inflammatory activity of ADX-1612 demonstrated in COVID-19 models may be applicable to viral diseases generally," stated Emanuel Wyler, Ph.D., Research Scientist at MDC. "We look forward to continuing our collaboration with Aldeyra as we advance ADX-1612 to additional cell and animal models to further characterize the activity of ADX-1612 in COVID-19 and other viral infections," added Markus Landthaler, Ph.D., Group Leader of the Coronavirus Task Force and the Laboratory for RNA Biology and Post-transcriptional Regulation at MDC. In May 2020, Dr. Wyler and colleagues identified HSP90 as a key antiviral target against SARS-CoV-21 and have confirmed the antiviral activity of ADX-1612, a potent HSP90 inhibitor, reported by Aldeyra earlier this year. Additional reports of the activity of ADX-1612, also known as ganetespib, and other HSP90 inhibitors have been subsequently published by independent laboratories. The anti-inflammatory activity of ADX-1612, as assessed by cytokine transcription in SARS-CoV-2-infected primary human cells, included down-regulation of TNF-alpha, IFN-1beta, IL-6, and a variety of other cytokines and pro-inflammatory mediators.
Aldeyra initiates Phase 2 trials of ADX-629 » 08:1012/1712/17/20
Aldeyra announced the…
Aldeyra announced the initiation of Phase 2 clinical trials of ADX-629, a first-in-class orally administered reactive aldehyde species, or RASP, inhibitor, for the treatment of COVID-19, atopic asthma, and psoriasis as part of a systematic strategy to assess activity across different types of immunological diseases. The Phase 2 clinical trials follow a Phase 1 clinical trial of ADX-629, which demonstrated no treatment-related adverse events at any dose tested, as well as target engagement evidenced by statistically lower RASP levels in drug-treated subjects relative to controls.
|Over a month ago|
Berenberg starts Aldeyra with Buy, sees near-term catalysts » 07:0812/1612/16/20
Berenberg analyst Esther…
Berenberg analyst Esther Hong initiated coverage of Aldeyra Therapeutics with a Buy rating and $32 price target. Aldeyra has a "broad" pipeline with multiple near-term catalysts for late-stage clinical programs, Hong tells investors in a research note. The company's lead candidate, reproxalap, is in development for the treatment of dry eye disease and allergic conjunctivitis, says the analyst.