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      Aldeyra (ALDX): What Is Driving The Stock Higher? - Stocks Telegraph

      By ST Staff

      Published on

      July 20, 2021

      1:49 PM UTC

      Aldeyra (ALDX): What Is Driving The Stock Higher? - Stocks Telegraph

      Aldeyra Therapeutics Inc. (ALDX) is rising today on the charts, trading up 2.18% to $9.39 per share at the last check in early trading. Aldeyra stock has raised nearly 12% in the premarket session today. As of Monday, Aldeyra shares closed at $9.19, down 3.47% on day. The total volume traded in ALDX stock was 1.01 million shares, less than the 1.47 million average traded volumes over the past three months. The ALDX stock fluctuated between $8.52 and $9.7299 during the trading session.

      The earnings ratio for ALDX was -1.02. On a yearly basis, ALDX stock has gained 33.97% and lost 10.97% in the past five sessions. In the previous month, ALDX stock moved -24.36 percent. Currently, the 50-day moving average for ALDX stock is $11.56, which is above the 200-day moving average of $10.18. Furthermore, ALDX stock price is trading at an RSI of 24.28.

      ALDX stock is soaring since it received Orphan Drug Designation from the US Food and Drug Administration (FDA) for one of its products.

      Which ALDX drug received the designation?

      Aldeyra is a biotechnology company focused on the development of immunomodulating therapies for the treatment of ocular and systemic ailments. ALDX’s two lead product candidates, reproxalap and ADX-629, target RASPs (reactive aldehyde species), which are cytokine pre-cycling molecules that cause inflammation. Phase 3 clinical trials of Reproxalap are being conducted at ALDX in patients with dry eyes and allergies. ADX-2191 (methotrexate for intravitreal injection) is another potential drug candidate in ALDX’s clinical pipeline.

      In a press release today, Aldeyra announced that the FDA has granted the company orphan drug designation for its ADX-2191 drug candidate for the treatment of primary vitreoretinal lymphoma (PVRL).

      • The PVRL, a rare, aggressive, high-grade cancer that is diagnosed annually in approximately 600 US patients, has currently no approved treatment.
      • By Designating ADX-2191 as an orphan drug, the FDA opens the way for clinical trials and commercialization for the drug.
      • Additionally, this designation represents the first formulation of methotrexate specifically designed for intraocular use, giving ALDX a competitive advantage.
      • ALDX retinal disease program has taken another step forward with this designation, supporting it in its ongoing development of ADX-2191 to prevent proliferative vitreoretinopathy, which is the primary cause of retinal reattachment failure.

      Will this benefit ALDX?

      As an orphan drug developer, Aldeyra (ALDX) would qualify for federal financial incentives, as the program allows the same for pharmaceuticals and biologics for treating rare diseases. In consideration of its orphan drug designation, ALDX is also eligible to receive tax credits for its clinical trial costs, waivers of user fees for marketing applications, and consideration for seven years of marketing exclusivity, if approved.

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