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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