ABBV - Aldeyra: Derisked Biotech Eyeing Path To Approval And Finalizing Deal With AbbVie
2024-03-24 00:46:24 ET
Summary
- Lead asset, reproxalap, has clear path to regulatory approval in Dry Eye Disease.
- Option deal for commercial license with AbbVie signed - $400M in milestones, 60/40 profit shares of US market and tiered double-digit royalties for ex-US.
- $142M in cash at 12/31/23, burning $40M per year - plenty of cash to achieve monetization of reproxalap.
Alderya – Overview
Aldeyra ([[ALDX]] or the Company), is a small cap, development-stage biotech company with a portfolio of RASP (reactive aldehyde species) modulating compounds. The lead drug is a topical therapy for dry eye disease, reproxalap, that recently received a complete response letter ((CRL)), a rejection from the FDA. The Company believes it has a clear path to provide additional data and obtain approval for reproxalap in early 2025. The Company also has other oral and intravitreal injection products in earlier stages of development....
Aldeyra: Derisked Biotech Eyeing Path To Approval And Finalizing Deal With AbbVie