Aldeyra nets $27mm via FOPO

Aldeyra Therapeutics Inc. (developing therapies for diseases related to endogenous aldehyde toxicity) netted $27mm through the follow-on offering of 3.97mm common shares (including full exercise of the overallotment) priced at $7.25. The company will use some of the proceeds for ongoing development of candidates including its lead program ADX102, which is being developed in different formulations. An ophthalmic solution is in Phase III for noninfectious anterior uveitis and Phase II for allergic conjunctivitis and dry eye syndrome. Topical ADX102 is in Phase III for Sjögren-Larsson syndrome and oral ADX102 is in earlier-stage studies for Sjögren-Larsson syndrome and SSADH deficiency.