Aldeyra up by a third after allergic conjunctivitis results

Aldeyra Therapeutics (Nasdaq: ALDX) has announced positive results from the Phase III ALLEVIATE trial of 0.25% and 0.5% reproxalap topical ophthalmic solution in patients with allergic conjunctivitis.

The US biotech closed up by more than a third on Tuesday as investors reacted to the news that the trial had met the primary endpoint and the key secondary endpoint for both concentrations of reproxalap.

Topical ocular reproxalap has now been administered to over 700 patients across seven completed clinical trials. The results suggest that it could be a safe and effective therapeutic option used to complement existing therapy before resorting to corticosteroids, which can lead to serious ocular toxicity."