Aldeyra Therapeutics (NASDAQ:ALDX) is poised for a significant down move this morning after announcing that a Phase 3 clinical trial, SOLACE, evaluating reproxalap in patients with noninfectious anterior uveitis failed to achieve the primary or secondary endpoints.
Reproxalap did not sufficiently separate from vehicle (placebo) due to the high rates of disease resolution in the vehicle arm.
The company will terminate development for this indication but will continue its programs in dry eye disease, allergic conjunctivitis and proliferative vitreoretinopathy.
Shares will resume trading at 7:30 am ET.
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