Therapy Areas: Inflammatory Diseases
Aldeyra Therapeutics Raises USD 74.7m from Common Stock Offering
20 January 2021 - - US-based biotechnology company Aldeyra Therapeutics, Inc. (NASDAQ: ALDX) has closed its underwritten public offering of 7,868,421 shares of its common stock at a public offering price of USD 9.50 per share, including 1,026,315 additional shares of common stock sold pursuant to the full exercise of the underwriters' option to purchase additional shares.

All of the shares in the offering were sold by Aldeyra.

The gross proceeds to Aldeyra following the underwriters' exercise of their option to purchase additional shares, before deducting underwriting discounts and commissions and offering expenses, were approximately USD 74.7m.

Aldeyra said it anticipates using the net proceeds from the underwritten offering for the continued development of its lead compound, reproxalap, and its other product candidates, as well as for working capital, and other general corporate purposes.

Jefferies LLC and SVB Leerink LLC acted as joint book-running managers for the offering. BTIG LLC and Oppenheimer and Co. Inc. acted as co-lead managers for the offering.

Aldeyra Therapeutics is a clinical-stage biotechnology company focused on the development of novel therapies with the potential to improve the lives of patients with immune-mediated diseases.

Two of the company's lead investigational compounds, reproxalap and ADX-629, target RASP (reactive aldehyde species), which are elevated in ocular and systemic inflammatory disease and result in cytokine release via activation of a range of inflammatory factors, including NF-κB, inflammasomes, and Scavenger Receptor A. Reproxalap is being evaluated in Phase 3 clinical trials in patients with dry eye disease and allergic conjunctivitis.

The company's clinical pipeline also includes ADX-2191, a dihydrofolate reductase inhibitor in Phase 3 testing for proliferative vitreoretinopathy, and ADX-1612, a chaperome inhibitor in development for COVID-19 and ovarian cancer.
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