Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a clinical-stage biotechnology company devoted to treating inflammation, inborn errors of metabolism, and other diseases related to endogenous aldehyde toxicity, today announced the closing of its previously announced underwritten public offering of 3,967,500 shares of its common stock, which includes 517,500 shares sold in connection with the exercise in full by the underwriters of their option to purchase additional shares. The total net proceeds of the offering are approximately $26.8 million, after deducting the underwriting discounts and commissions and estimated offering expenses payable by Aldeyra.
Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering. Laidlaw & Company (UK) Ltd. acted as the lead manager for the offering.
About Aldeyra Therapeutics, Inc.
Aldeyra Therapeutics, Inc. is a biotechnology company devoted to improving lives by inventing, developing and commercializing products that treat diseases thought to be related to endogenous aldehydes, a naturally occurring class of pro-inflammatory and toxic molecules. Aldeyra's lead product candidate, ADX-102, is an aldehyde trap in development as topical eye drops for the treatment of ocular inflammation. ADX-102 has now been tested in over 250 patients in Phase 2 clinical trials in dry eye disease, allergic conjunctivitis, and noninfectious anterior uveitis. A dermatologic form of ADX-102 is in late-stage clinical development for the treatment of ichthyosis due to Sjögren-Larsson Syndrome, an inborn error of aldehyde metabolism. ADX-102 has not been approved for sale in the U.S. or elsewhere.