Aldeyra Therapeutics, Inc. (ALDX) stock prices were up 4.81% as of market close on April 26th, 2021 bringing the price per share up to USD$11.11. Subsequent pre-market fluctuations have seen the stock price surge by 21.78%, bringing it up to USD$13.53.
Success of INVIGORATE Clinical Trial
The sharp increase in ALDX stock prices came hot on the heels of the news of positive top-line results from the third phase of INVIGORATE Clinical Trial, reproxalap. The IND designed as a treatment for patients with allergic conjunctivitis was the source of resounding success when the clinical trials successfully achieved statistical significance for its primary endpoint, as well as for every secondary endpoint.
When it comes to discovering hidden gems within the stock market, Stock Wire News has consistently provided invaluable insights. Stock Wire News invites you to explore their upcoming Wealth Building Report. This report will shine a spotlight on little-known companies with the potential for substantial growth in 2024, and it's completely FREE for a limited time.
Claim the free report now by clicking here and start discovering the hidden gems of the market
Sponsored
Read More
What’s Next for INVIGORATE?
The company hopes to submit a New Drug Application in the second half of 2021 following a discussion with the U.S. Food and Drug Administration in regard to INVIGORATE results from clinical trials. Current and prospective investors are hopeful that things will go smoothly and the eventual commercialization of reproxalap will bear fruit for both the company and its shareholders.
ALDX’s Public Offering
ALDX announced the completion of its public offering at the beginning of 2021, wherein it put up 7,868,421 shares of its common stock for sale at USD$9.50 per share. Underwriters were also granted the option to purchase up to 1,026,315 shares of common stock in the event of over-allotments. The offering generated USD$74.7 million in gross proceeds with USD$4.7 million in costs associated with the offering. The funds will be allocated primarily to the development of reproxalap, as well as other product candidates.
Funding the Future
In addition to the funds generated from the offering, ALDX has reported having cash and cash equivalents equaling USD$77.9 million as of December 31st 2020. With such a solid liquidity position the company anticipates being able to sustain itself through to the end of 2023, with enough funds to ensure the funding of its many clinical trials currently underway.
Myriad of Clinical Trials Underway
Of the many clinical trials in varying stages of completion, TANQUILITY and TRANQUILITY-2 are clinical trials for the treatment of dry eye disease and are in Phase 3; whereas the GUARD clinical trial I in the first part of its adaptive Phase 3 in proliferative vitreoretinopathy. Furthermore, the company is working on Phase 2 clinical trials of ADX-629 for the treatment of psoriasis, atopic asthma, and, perhaps most significantly, COVID-19.
Future Outlook for ALDX
With hugely successful completion of the INVIGORATE clinical trial, a sound liquidity position, and diversification into the treatment of the global COVID-19 pandemic, ALDX is situated to have a prosperous 2021. Investors are hopeful for the continued success of clinical trials and expect to see the company manage to significantly sustain growth in shareholder value.
- Tags: ADX-629, Aldeyra, Aldeyra Therapeutics, ALDX, ALDX stock, biotech, Biotechnology, healthcare, reproxalap, tech, technology
