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Sep 30, 2021
Aldeyra Q3 2021 Earnings Report
Aldeyra Therapeutics reported financial results for Q3 2021 and provided recent corporate highlights.
Key Takeaways
Aldeyra Therapeutics reported a net loss of $15.8 million for the quarter ended September 30, 2021, compared to a net loss of $8.9 million for the same period in 2020. The company's cash and cash equivalents were $241.4 million as of September 30, 2021, which is projected to fund operating expenses through 2023.
Top-line results from Phase 3 TRANQUILITY and TRANQUILITY-2 trials in dry eye disease are expected in Q4 2021.
Phase 2 clinical trial of ADX-2191 in retinitis pigmentosa is on track to initiate in Q4 2021.
Phase 2 clinical trial results of ADX-629 in multiple systemic indications are expected in Q4 2021 or Q1 2022.
Cash and cash equivalents were $241.4 million as of September 30, 2021, projecting a cash runway through 2023.
Forward Guidance
Aldeyra expects to report top-line results from Phase 3 TRANQUILITY and TRANQUILITY-2 clinical trials of Reproxalap in Dry Eye Disease in the fourth quarter of 2021, initiate Phase 2 Clinical Trial of ADX-2191 in Retinitis Pigmentosa in the fourth quarter of 2021, and expects Phase 2 Clinical Trial Results of ADX-629 in Multiple Systemic Indications in the Fourth Quarter of 2021 or the First Quarter of 2022. Company projects cash runway through 2023, including potential New Drug Applications; initial commercialization of Reproxalap, if approved; and continued development of compounds for retinal and systemic diseases.
Positive Outlook
- Top-line results from Phase 3 TRANQUILITY and TRANQUILITY-2 clinical trials of Reproxalap in Dry Eye Disease expected in Q4 2021
- Phase 2 Clinical Trial of ADX-2191 in Retinitis Pigmentosa On Track to Initiate in Q4 2021
- Phase 2 Clinical Trial Results of ADX-629 in Multiple Systemic Indications Expected in Q4 2021 or Q1 2022
- Cash and cash equivalents expected to be sufficient to fund operating expenses through the end of 2023
- Potential New Drug Application submissions are expected
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