Market looks askance at Aldeyra's latest dry eye data

9 June 2022

An exuberant pre-market trading session gave way to circumspection on Wednesday, as investors picked over a Phase III win for Aldeyra Therapeutics (Nasdaq: ALDX).

The company said reproxalap, a dry eye candidate under evaluation in the TRANQUILITY-2 trial, showed statistical superiority according to the Schirmer test, a measure of ocular tear production.

However, the positive result comes after two ad hoc trial modifications, raising a question mark over the reception regulators will likely give to any future data package.

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