$ALDX reports FY22 financial results and promising pipeline updates.
Mar 9th 2023, 12:08 pm
Analyst Summary: Aldeyra Therapeutics, a biotechnology company focused on discovering and developing therapies for immune-mediated diseases, reported its financial results for FY22. The company achieved recent corporate highlights, including the acceptance of its NDA for topical ocular reproxalap for the treatment of dry eye disease by the FDA, and the Priority Review Designation granted for another investigational drug candidate, methotrexate injection ADX-2191, in the treatment of primary vitreoretinal lymphoma. Aldeyra is also advancing its pipeline of novel RASP modulators for the treatment of systemic and retinal immune-mediated diseases, with expected catalyst results for Phase 2 clinical trials of ADX-2191 in retinitis pigmentosa and ADX-629 in chronic cough. CEO Todd C. Brady, M.D., Ph.D., commented, "In addition to potential approvals and supplemental NDA submissions, 2023 promises to be a catalyst-rich year for Aldeyra." The company’s year-end cash, cash equivalents, and marketable securities reached $174.3 million. Aldeyra will host a conference call to discuss the results at 8:00 a.m. ET.