NasdaqCM:ALDXBiotechs
Aldeyra Therapeutics (ALDX) Is Down 75.2% After FDA Rebuffs Dry Eye Drug Efficacy Data - Has The Bull Case Changed?
In March 2026, Aldeyra Therapeutics reported that the FDA issued a Complete Response Letter for its reproxalap dry eye disease NDA, citing insufficient and inconsistent evidence of efficacy despite no safety or manufacturing concerns.
An important nuance is that the FDA did not request new trials, instead urging Aldeyra to clarify why certain studies failed and where reproxalap might work best.
We’ll now examine how the FDA’s efficacy concerns and lack of requested new trials reshape...