Wolf Haldenstein Adler Freeman & Herz LLP is investigating potential securities fraud claims against Aldeyra Therapeutics Inc. (NASDAQ: ALDX)
NEW YORK, NY – August 7, 2023 – Wolf Haldenstein Adler Freeman & Herz LLP (“Wolf Haldenstein”), a preeminent national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors in Aldeyra Therapeutics Inc. (“Aldeyra” or “the Company”) (NASDAQ: ALDX) for violations of federal securities laws.
All investors who purchased shares and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774.
Wolf Haldenstein is investigating whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors.
Aldeyra, a biotechnology company, develops and commercializes medicines for immune-mediated diseases. The Company is currently developing ADX-2191, a dihydrofolate reductase inhibitor for the treatment of primary vitreoretinal lymphoma cancer, proliferative vitreoretinopathy, and retinitis pigmentosa, as well as rare retinal diseases characterized by inflammation and vision loss.
In quarterly earnings releases, the Company has made statements extolling the drug’s clinical trial results, and the likelihood of regulatory approval. In December 2022, Aldeyra submitted an NDA to the Food and Drug Administraton (“FDA”) for ADX‑2191 for the Treatment of Primary Vitreoretinal Lymphoma (“PRVL”)
On June 21, 2023, Aldeyra issued a press release “announcing receipt of a Complete Response Letter” from the FDA. The press release stated that “although 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.”
The Company revealed in this press release they had not conducted randomized clinical trials of the drug in PVRL, which they did not think were feasible.
On this news, Aldeyra’s stock price fell $2.92 per share, or 27.44%, to close at $7.72 per share on June 21, 2023.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774