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.
Scancell initiates SCOPE trial's iSCIB1+ cohort
Bio-Thera Solutions' BAT8006 phase II Study receives US FDA IND approval
Poseida Therapeutics names new chief medical officer
Biocytogen and ABL Bio collaborate on development of new bispecific antibody-drug conjugates
BioVaxys Technology announces non-brokered private placement
Senhwa Biosciences doses first subject in phase II study of Silmitasertib
Antennova completes first dosing cohort in Phase one study of ATN-031
M8 Pharmaceuticals collaborates with SERB Pharmaceuticals
BerGenBio ASA starts Phase 2a portion of BGBC016 clinical study of bemcentinib
Phanes Therapeutics receives FDA Fast Track designation for PT886