2024-01-28 02:56:00 ET
Summary
- Aldeyra Therapeutics is a biotech company focused on developing treatments for immune-mediated inflammatory diseases, with its leading drug candidate being Reproxalap for dry eye and allergic conjunctivitis.
- The company has an option agreement with AbbVie, indicating strategic M&A value and potential for a takeover.
- ALDX's current market cap of $181.76 million is mostly its cash value of $144.33 million, making it a strong buy with significant upside potential.
- I conclude the company has an asymmetric risk-reward profile due to its low valuation (mostly in cash) vis a vis substantial potential payments from ABBV's option agreement deal.
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Why Aldeyra Therapeutics Is A Strong Buy: AbbVie Agreement And Reproxalap's Prospects