Glancy Prongay & Murray LLP Reminds Investors of Looming Deadline in the Class Action Lawsuit Against Aldeyra Therapeutics, Inc. (ALDX)

LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”) reminds investors of the upcoming September 29, 2023 deadline to file a lead plaintiff motion in the class action filed on behalf of investors who purchased or otherwise acquired Aldeyra Therapeutics, Inc. (“Aldeyra” or the “Company”) (NASDAQ: ALDX) securities between March 17, 2022 and June 20, 2023, inclusive (the “Class Period”).

If you suffered a loss on your Aldeyra investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/Aldeyra-Therapeutics-Inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [e-mail] to learn more about your rights.

On June 21, 2023, Aldeyra disclosed that it had received a Complete Response Letter from the U.S. Food and Drug Administration (“FDA”) regarding the Company’s New Drug Application (“NDA”) for its vitreoretinal lymphoma treatment, ADX-2191. The Company revealed that “[a]lthough no safety or manufacturing issues with ADX-2191 were identified, the FDA stated that there was a ‘lack of substantial evidence of effectiveness’ due to ‘a lack of adequate and well-controlled investigations’ in the literature-based NDA submission.”

On this news, Aldeyra’s stock price fell $2.92, or 27.4%, to close at $7.72 per share on June 21, 2023, thereby injuring investors.

The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) the ADX-2191 NDA did not include adequate and well-controlled investigations and thus failed to show substantial evidence of ADX-2191’s effectiveness; (2) as a result, the FDA was unlikely to approve the ADX-2191 NDA in its current form; (3) accordingly, the Company had overstated ADX-2191’s clinical and/or commercial prospects; and (4) as a result, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.

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If you purchased or otherwise acquired Aldeyra securities during the Class Period, you may move the Court no later than September 29, 2023 to request appointment as lead plaintiff in this putative class action lawsuit. To be a member of the class action you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the class action. If you wish to learn more about this class action, or if you have any questions concerning this announcement or your rights or interests with respect to the pending class action lawsuit, please contact Charles Linehan, Esquire, of GPM, 1925 Century Park East, Suite 2100, Los Angeles, California 90067 at 310-201-9150, Toll-Free at 888-773-9224, by email to [e-mail], or visit our website at www.glancylaw.com. If you inquire by email please include your mailing address, telephone number and number of shares purchased.

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