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Underwriters will have an option to purchase up to an additional $18.75 million of shares.
Aldeyra intends to use the net proceeds to prepare a potential marketing application submission of its lead compound, reproxalap, the preparations for its commercial launch, if approved, pipeline development programs, and working capital purposes.
Jefferies and SVB Leerink are acting as joint book-running managers for the offering.
Yesterday, the company announced positive top-line results from the Phase 3 trial evaluating 0.25% reproxalap in allergic conjunctivitis, sending shares to climb more than 30%.
Data showed that Reproxalap easily achieved the primary endpoint of the study (reduction in eye itching) and secondary endpoints with a high level of statistical significance.
Aldeyra's next step is to meet with the FDA about a path to approval for reproxalap. This meeting is expected to take place in the second half of this year, with a potential regulatory filing for approval on the way afterward.
The company had cash and equivalents of $138.4 million as of March 31, 2021.
Price Action: ALDX shares are down 5.4% at $14.05 in the premarket on the last check Wednesday.
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