Aldeyra Therapeutics, Inc. (ALDX) Thursday said Phase 3 study of reproxalap, the company's drug candidate for the treatment of dry eye disease met its primary goal. The stock was up more than 11 percent in pre-market to $3.65.
Data from the study showed that reproxalap was statistically superior to vehicle, the drug product without the active ingredient, for primary endpoint of ocular discomfort. Additionally, there were no safety signals observed in the trial, and reproxalap was observed to be well tolerated.
"To our knowledge, the results announced today represent the first positive Phase 3 clinical trial in a dry eye chamber with a symptom as a primary endpoint, and we believe that the results are supportive of the potential rapid clinical effect of reproxalap on reducing the ocular discomfort associated with dry eye disease," stated Todd C. Brady, President and Chief Executive Officer of Aldeyra.
Aldeyra stock had closed at $3.26, down 5.23 percent on Wednesday. The stock has traded in the range of $1.42 - $7.88 in the last 1 year.
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