Aldeyra Therapeutics Inc.’s stock ALDX jumped 11% premarket Thursday, after the biotech announced positive results from a late-stage trial of a treatment for allergic conjunctivitis. The Lexington, Mass.-based company said the Phase 3 trial dubbed Invigorate-2 achieved statistical significance for its primary endpoint and all secondary endpoints. “Consistent with the results of the Phase 3 INVIGORATE Trial and in conjunction with a number of successful Phase 2 and Phase 3 clinical trials in dry eye disease, achievement of the primary endpoint and all secondary endpoints in INVIGORATE-2 supports the potential of reproxalap as a treatment for inflammatory diseases of the ocular surface,” said Dr. Todd C. Brady, President and CEO of Aldeyra, in a statement. The trial involved 131 allergic conjunctivitis patients and found that reproxalap reduced itching, its primary endpoint, and also reduced ocular redness, ocular tearing and lowered the total ocular severity score. Brady said it may also have commercial potential in treating dry eye disease. The U.S. Food and Drug Administration is reviewing a new drug application for the treatment, a process expected to end on Nov. 23. The stock has gained 50% in the year to date, while the S&P 500 SPX has gained 14%.
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