Aldeyra (ALDX) stock surges 43% after announcing plans to resubmit NDA for reproxalap treatment

From NASDAQ.: 2024-04-06 06:37:00

Aldeyra Therapeutics is making strides in its clinical development with its pipeline candidates reproxalap and ADX-629. Shares surged 43.3% following the company’s announcement of plans to resubmit an NDA for reproxalap as a treatment for dry eye disease. Aldeyra aims to address FDA concerns with additional clinical studies and is well-funded through 2026. Additionally, the company has an option agreement with AbbVie for reproxalap commercialization, offering potential milestone payments. Aldeyra’s other candidate, oral ADX-629, is also in mid-stage development for various indications. In the biotech industry, Aldeyra holds a Zacks Rank #2 (Buy).

ADMA Biologics and FibroGen are two other top-ranked stocks in the drug/biotech sector. ADMA is currently ranked #1 (Strong Buy), while FibroGen carries a Zacks Rank #2. Both companies have been consistent with their earnings estimates for 2024 and 2025, although their stock performance has varied in the past week. Investors should keep an eye on these promising opportunities in the biotech sector for potential growth.



Read more at NASDAQ.: Aldeyra (ALDX) Stock Rallies 43% in One Week: Here’s Why