Aldeyra Therapeutics (ALDX): 2017 Will Be A Pivotal Year - HC Wainwright
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H.C. Wainwright analyst, Corey Davis, reiterated his Buy rating on shares of Aldeyra Therapeutics (NASDAQ: ALDX) on the belief that Q3 reinforces that 2017 will be a pivotal year.
The analyst noted that Aldeyra has discussed plans to develop an oral aldehyde trap which could be administered to treat systemic inflammatory conditions, as a follow-on to its success in treating inflammation with topical formulations, but went further to discuss detail on the timing and characteristics of the new trap. The analyst believes that full detail on the attributes of the new trap could come in 2017, depending on the outcome of ongoing pre-clinical work, intellectual property development, and regulatory input. While it had previously been suggested that a systemic trap may be delivered intravenously, management noted that the company will be pursuing an oral formulation which would be far more accessible to patients with chronic, system inflammation. If successful, it could alleviate some of the concerns about price differentials between different indications.
Shares of Aldeyra Therapeutics closed at $6.85 yesterday.
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