Shares of Aldeyra Therapeutics, Inc. (NASDAQ: ALDX) jumped over 60 percent after its announcement on Tuesday about positive results from a Phase 2a clinical trial of its ADX-102 treatment in patients with dry eye disease.
According to the biotech company, dry eye disease is a common inflammatory disease that potentially affects nearly 20 million people in the United States, and is caused by lack of moisture and lubrication on the surface of the eye. Dry eye disease can lead to dryness, inflammation, pain, discomfort, irritation, and in severe cases, decreased vision.
"ADX-102 is a promising agent for the treatment of dry eye disease, a persistently challenging condition for many people worldwide," commented John Sheppard, Professor of Ophthalmology, Eastern Virginia Medical School. "The evidence of rapid-onset activity and the tolerability profile demonstrated in the Phase 2a clinical trial suggests that ADX-102 could provide important patient benefits relative to existing therapies."
Aldeyra reported positive clinical results in the test, and now its ADX-102 treatment is nominated for advancement. That company said it expects to begin a phase 2b trial in the first half of 2018.
"These data represent the fourth set of positive Phase 2 results with ADX-102 in ocular inflammation. The breadth of activity across noninfectious anterior uveitis, allergic conjunctivitis, and now dry eye disease confirms the potential of ADX-102 as an important and differentiated therapy in ophthalmology," commented Todd C. Brady, President and Chief Executive Officer of Aldeyra.
"We are particularly excited about the potential of ADX-102 in the dry eye disease population, which is generally perceived to be inadequately treated but accounted for approximately $1.8 billion in prescription sales in the United States in 2016. We look forward to the initiation of a Phase 2b clinical trial in dry eye disease in the first half of 2018."