Aldeyra Therapeutics (NASDAQ: ALDX) reported Q2 EPS of ($0.25), $0.09 better than the analyst estimate of ($0.34).

“We continue to make important progress in advancing a number of clinical-stage programs focused on the development of reproxalap and ADX-629, our first-in-class reactive aldehyde species (RASP) inhibitors,” stated Todd C. Brady, M.D., Ph.D., President and CEO of Aldeyra. “Following a successful meeting with the US Food and Drug Administration (FDA) in June, we are on track to initiate clinical trials assessing levels of RASP, a pro-inflammatory mediator, in the tears of patients with dry eye disease. Clinical development of ADX-629, an orally available RASP inhibitor, in COVID-19, psoriasis, and atopic asthma is expected to begin during the second half of this year.”

“We also have enhanced our financial flexibility with recent common stock sales to Perceptive Advisors and Avidity Partners, transactions that generated gross proceeds of approximately $19.5 million and completed our previously announced at-the-market offering program,” Dr. Brady continued. “We now expect to be able to fund operations through 2022, including potential approvals for reproxalap in dry eye disease and allergic conjunctivitis.”

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