Aldeyra Looking At Paths To Approval In Dry Eye After Phase III Miss

Dry eye disease is an indication that often yields surprising trial results and Aldeyra Therapeutics, Inc. is trying to encourage shareholders that it still has a viable path to approval with novel anti-inflammatory agent reproxalap after a Phase III miss on a sign of the disease. In top-line data reported on 20 December, Aldeyra said reproxalap failed to meet statistical significance for ocular redness, despite hitting that same endpoint in a smaller Phase II trial.

The company explained after the stock market closed on 20 December that it still may be able to obtain approval for its drug in dry eye disease by revising the endpoints for an ongoing Phase III trial slated to report data in mid-2022, but the guidance does not appear to have soothed investors’ concerns. Aldeyra’s stock closed at $3