Aldeyra shares soar on pos­i­tive PhII dry eye da­ta — but lose some steam on sec­ond look

Shares of Aldeyra Ther­a­peu­tics $ALDX soared in pre-mar­ket trad­ing Wednes­day as the biotech tout­ed pos­i­tive da­ta for its lead drug in treat­ing dry eye dis­ease. But the fren­zy al­so start­ed to wane rather ear­ly as the da­ta got a sec­ond look from skep­tics.

Their drug is re­prox­alap, and their state­ment ze­roed in on the sta­tis­ti­cal­ly sig­nif­i­cant scores re­searchers record­ed in a Phase IIb tri­al, com­ing in some­where un­der the wire at a p val­ue of <0.05 for two dos­es rat­ed on the Four-Symp­tom Oc­u­lar Dry­ness Score and the Over­all Oc­u­lar Dis­com­fort Symp­tom Score.

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