24/7 Market News Snapshot 18 November, 2024 – Aldeyra Therapeutics, Inc. (NASDAQ:ALDX)

November 18, 2024

DENVER, Colo., 18 November, 2024 (247marketnews.com) – (NASDAQ:ALDX) are discussed in this article.
Aldeyra Therapeutics, Inc. (ALDX) has emerged as a focal point in the financial markets today, witnessing a substantial increase in share value, currently trading at $4.96, up approximately 17.70% from the previous close of $4.21. This notable bullish momentum is supported by a trading volume of 1.44 million shares, indicating heightened investor interest. Analysts will be monitoring this upward trend closely, particularly the $4.90 support level, which could signal further price appreciation in the coming sessions. These trends reflect a positive market sentiment surrounding the company’s prospects.

In a significant development, the U.S. Food and Drug Administration (FDA) has accepted the resubmitted New Drug Application (NDA) for topical ocular reproxalap. This treatment aims to address the signs and symptoms of dry eye disease and represents a potential first-in-class solution. The Prescription Drug User Fee Act (PDUFA) date is set for April 2, 2025, marking a crucial milestone in the drug’s approval process.

Furthermore, Aldeyra has strengthened its partnership with AbbVie Inc. through an expanded exclusive option agreement. This collaboration seeks to expedite the commercialization of reproxalap, with AbbVie potentially gaining a co-exclusive license in the U.S. If exercised, this option would yield an upfront cash payment of $100 million, in addition to up to $300 million in milestone payments, highlighting the financial advantages of their alliance.

Reproxalap’s clinical trials have involved over 2,500 patients and demonstrated promising efficacy with minimal safety concerns. This innovative treatment holds the potential to transform the landscape of ocular healthcare, addressing critical patient needs in dry eye disease and allergic conjunctivitis. As Aldeyra advances its pipeline, the recent developments suggest a robust future for both the company and its therapeutic offerings.

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