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Jun 30, 2025
Aldeyra Q2 2025 Earnings Report
Aldeyra narrowed its quarterly net loss in Q2 2025, driven by reduced R&D and G&A expenses.
Key Takeaways
Aldeyra reported a significant reduction in net loss for Q2 2025 as it curtailed research and administrative costs, maintaining a healthy cash position despite continued development-stage losses.
Net loss was $9.77 million in Q2 2025, an improvement from $16.85 million in Q2 2024.
R&D expenses dropped by 43% YoY, reflecting lower clinical and manufacturing costs.
G&A expenses declined by 45% YoY due to reduced personnel and legal costs.
Cash and marketable securities stood at $81.9 million, supporting operations into 2027.
Forward Guidance
Aldeyra expects its cash and equivalents to fund operations into 2027, with key focus on regulatory approval and potential commercialization of reproxalap.
Positive Outlook
- Cash and securities sufficient to fund operations into 2027.
- Operating expenses reduced through strategic cost management.
- Option agreement with AbbVie could bring substantial upfront and milestone payments.
- Ongoing pre-commercialization plans for reproxalap.
- Recent dry eye trial met primary endpoint, supporting NDA resubmission.
Challenges Ahead
- Still no approved commercial products generating revenue.
- FDA has issued multiple Complete Response Letters for reproxalap.
- Reproxalap approval remains uncertain pending latest PDUFA date (Dec 16, 2025).
- No guarantee AbbVie will exercise its option to license reproxalap.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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