Aldeyra Therapeutics
Develops RASP modulators and ophthalmology candidates for immune-mediated diseases.
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Profile
Develops immune-mediated disease therapies built around protein-system modulation, with reproxalap for dry eye disease and allergic conjunctivitis and ADX-2191 for retinal diseases. The business is pre-commercial, runs as a single reportable segment, and depends on FDA outcomes, AbbVie's reproxalap option, and consultant-supported execution.
Develops therapies for immune-mediated diseases through protein-system modulation, centered on reactive aldehyde species biology. The disclosed pipeline includes next-generation RASP modulators ADX-248 and ADX-246, late-stage reproxalap for dry eye disease and allergic conjunctivitis, and ADX-2191 for retinal indications including primary vitreoretinal lymphoma and retinitis pigmentosa.
Operates as a pre-commercial, single-segment biotech from Lexington, Massachusetts, with a very small employee base and consultant-supported clinical and manufacturing work. The near-term commercial path for reproxalap is concentrated around U.S. FDA review and an AbbVie option for rights across U.S. and non-U.S. markets.
Reproxalap and ADX-2191 have both received FDA Complete Response Letters tied to evidence of effectiveness, while releases said safety or manufacturing concerns were not identified. The business depends on regulatory clearance, AbbVie's option decision, and scaling the organization if reproxalap is commercialized without that collaboration.
Company facts
Key statistics
Year to date −68.2% · Average volume (30d) 849.3K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Target |
|---|---|---|---|---|---|
| Mar 18, 2026 | HC Wainwright & Co. | Downgrade | Buy | Neutral | |
| Oct 8, 2025 | Jefferies | Target | $7 |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Aug 6, 2026Q2 FY26 | −$0.09 | −$0.09 | −2.9% | $31.3M | — | — | −0.62% |
| May 7, 2026Q1 FY26 | −$0.13 | −$0.06 | +53.8% | — | — | — | 0.00% |
| Feb 27, 2026Q4 FY25 | −$0.14 | −$0.11 | +21.4% | $4.8M | — | — | +2.93% |
| Nov 5, 2025Q3 FY25 | −$0.17 | −$0.13 | +23.5% | $24.3M | — | — | −2.43% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $0 | $0 | $0 | $0 | $0 | $0 | |
| Gross profit | $0 | $0 | $0 | $0 | −$66.6K | $0 | |
| Operating income | −$10.4M | −$10.2M | −$8.0M | −$6.7M | −$3.5M | −$5.9M | |
| Net income | −$9.9M | −$9.8M | −$7.7M | −$6.5M | −$3.5M | −$5.5M | |
| Diluted EPS | −$0.17 | −$0.16 | −$0.13 | −$0.11 | −$0.06 | −$0.09 | |
| Gross margin | — | — | — | — | — | — | |
| Operating margin | — | — | — | — | — | — |
Fiscal years (4-quarter sums)FY21 $0 · FY22 $0 · FY23 $0 · FY24 $0 · FY25 $0
Balance sheet, Jun 30, 2026Cash & short-term investments $45.1M · Total debt $143.4K · Total assets $47.5M · Shareholders' equity $37.9M
Dividends
No dividends on record.
Ownership
Shares outstanding 60.32M · Float 52.68M · 87.3% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Perceptive Advisors LLC · 10 percent owner | 5.88M | 9.74% | Form 4 | Apr 7, 2025 |
| Knoll Capital Management, LLC | 5.48M | 9.08% | 13F | May 15, 2026 |
| BlackRock, Inc. | 3.76M | 6.24% | 13F | May 13, 2026 |
| AQR Capital Management LLC | 2.83M | 4.69% | 13F | May 15, 2026 |
| Vanguard Capital Management LLC | 2.36M | 3.92% | 13F | May 15, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Jun 3, 2026 | Todd C. Brady | director, officer: President and CEO | +250,000 | $1.67 |
| Mar 19, 2026 | Richard Douglas | director | +70,000 | $1.40 |
| Mar 18, 2026 | Michael Alfieri | officer: Principal Financial Officer | +5,000 | $1.42 |
Peers
- Bausch + Lomb
Large eye-health platform with MIEBO, XIIDRA, and dry-eye brands
- Alcon
Global eye-care leader with FDA-approved TRYPTYR for dry eye
- Harrow
Ophthalmic specialty platform scaling VEVYE in branded dry eye
- Oculis
Clinical ophthalmology peer with licaminlimab for dry eye
- Viatris
Global pharma parent of TYRVAYA and ophthalmology franchise
- OKYO Pharma
Clinical-stage dry-eye and corneal-pain peer with urcosimod
- Ocugen
Gene-therapy retinal peer targeting retinitis pigmentosa
- Kiora Pharmaceuticals
Retinal-disease biotech developing KIO-301 for RP
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Aldeyra Therapeutics | $1.51 | +1.68% | $89.6M | — | — | — | — |
| Bausch + Lomb | $17.15 | 0.00% | $6.13B | — | 17.2 | 1.2 | +9.1% |
| Alcon | $72.15 | +0.21% | $35.12B | 55.4 | 18.6 | 3.3 | +7.5% |
| Harrow | $37.77 | +1.29% | $1.39B | — | 30.3 | 5.0 | +10.9% |
| Oculis | $12.21 | −0.08% | $698.0M | — | — | 2,324.2 | +13.0% |
| Viatris | $16.30 | −0.23% | $19.03B | — | 6.4 | 1.3 | +4.9% |
| OKYO Pharma | $1.64 | −0.61% | $64.1M | — | — | — | — |
| Ocugen | $1.35 | +2.27% | $447.6M | — | — | 97.7 | +8.4% |
| Kiora Pharmaceuticals | $2.54 | −1.55% | $11.6M | — | — | — | — |
| Median | 55.4 | 17.9 | 4.2 | +8.7% |