Aldeyra Therapeutics (ALDX) Misses Q3 EPS by 14c

Aldeyra Therapeutics (NASDAQ: ALDX) reported Q3 EPS of ($0.69), $0.14 worse than the analyst estimate of ($0.55).

• Part I of Adaptive RENEW Phase 3 Clinical Trial in Dry Eye Disease on Track for Completion in Fourth Quarter 2019
• Adaptive GUARD Phase 3 Clinical Trial of ADX-2191 in Proliferative Vitreoretinopathy to Initiate in Fourth Quarter 2019
• Initiation of INVIGORATE Phase 3 Clinical Trial of Reproxalap in Allergic Conjunctivitis Planned for First Half 2020
• Phase 1 Clinical Trial of Novel, Orally Administered RASP Inhibitor ADX-629 Initiated
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“Aldeyra continued to make significant progress during the quarter in advancing our immunology platform toward the goal of reducing the burden of disease and helping patients lead healthier lives,” said Aldeyra President and CEO Todd C. Brady, M.D., Ph.D. “We have reached agreement with the U.S. Food and Drug Administration (FDA) on the primary endpoint for our pivotal INVIGORATE Phase 3 clinical trial of reproxalap in allergic conjunctivitis. In addition, this quarter we expect to complete Part 1 of our adaptive RENEW Phase 3 clinical trial of reproxalap in dry eye disease, and initiate the first part of our adaptive GUARD Phase 3 clinical trial in proliferative vitreoretinopathy, representing the expansion of our ocular program from the front of the eye to the retina.”

Outlook
“We expect our clinical momentum to accelerate as we move through the fourth quarter of this year and into 2020,” Dr. Brady said. “We believe that reproxalap has the potential to be the next novel entrant in dry eye disease and allergic conjunctivitis, part of a spectrum of conditions estimated to affect more than four in ten Americans. Our ocular programs represent the initial step of our mission to develop therapies for a broad category of systemic immune-mediated diseases.”

For earnings history and earnings-related data on Aldeyra Therapeutics (ALDX) click here.

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