Aldeyra boosted by positive dry eye drug trial results

Aldeyra’s stock price shot up 50% on the back on the news, with analysts predicting the company will be able to take advantage of the currently underserved US$1.8 billion (AU$2.3 b) dry eye market.The four-week mid-stage level test involved 51 DED patients and was aimed at finding the proper dosage required to treat DED sufferers. The results from the pooled data over the 28-day treatment period donstrated significant improvent from baseline symptoms established at the start of the trial.{{quote-A:R-W:450-Q:Improvents in dry eye disease signs and symptoms were evident within one week of therapy}}The series of tests included a Symptom Assessment for DED, Ocular Discomfort Score, Overall Four-Symptom Score, Schirmer Test for tear volume, Tear Osmolarity Test and Lissamine Green ocular surface staining score.Improvents in dry eye disease signs and symptoms were evident within one week of therapy, and ADX-102 was also responsible for significantly reducing the amount of an inflammatory agent called malondialdehyde found in the tears of patients.“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 US$1.8 billion in prescription sales in the United States in 2016,” CEO and president Dr Todd Brady said.“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.”The company suffered a setback in June when shares dropped 19% after it failed trials for allergic conjunctivitis, but the recent announcent has boosted investor confidence.No safety concerns or serious adverse effects were reported for ADX-102 in any of its applied formulations, and the Phase 2B clinical trial is expected to start by the first half of 2018.Aldeyra was trading at US$7.20 (AU$9.18) at the time of publication.