NEW YORK, NY / ACCESSWIRE / September 13, 2017 / Shares of both Aldeyra Therapeutics and Aethon Medical both saw big gains on Tuesday with trading volume for both stocks exploding. Aldeyra rose higher after releasing positive results from its Phase 2a study of its dry eye topical drug ADX-102. Aethlon soared higher after receiving EAP designation from the FDA for its Hemopurifier.
RDI Initiates Coverage on:
Aldeyra Therapeutics Inc.
Aethlon Medical, Inc.
Aldeyra Therapeutics' shares closed up 34.52% on volume over 11 million shares compared to an average of around 43,000 shares. The stock saw gains over 50% in pre-market trading after the Massachusetts-based company announced that it had positive results from its Phase 2a study of ADX-102 in dry eye disease. In the Phase 2a study, researchers observed three different formulations of the topical drug ADX-102 in a total of 51 patients suffering from dry eye disease. The treatment and observation lasted 29 days and afterward it was seen that ADX-102 had a statistically meaningful improvement in symptoms.
CEO Todd C. Brady MD, PhD, commented, "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. 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 $1.8 billion in prescription sales in the United States in 2016."
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Aethlon Medical's shares were on fire in Tuesday trading, closing the day up 35.13%. Volume was also significant at nearly 8.3 million shares compared to an average of just around 42,000. The stock's share price sprang to life after it was revealed that the therapeutic technology company had received an Expedited Access Pathway (EAP) designation from the FDA to support the advancement of the Aethlon Hemopurifier® to treat life-threatening viruses. CEO Jim Joyce commented, "We are honored to have our Hemopurifier® designated to the Expedited Access Pathway and additionally are pleased that FDA has also allowed our proposed "indication for use," which provides the possibility of treating a wide-range of life-threatening viruses versus a single disease condition." In its EAP submission to the FDA, Aethlon had said, "The Hemopurifier is a single-use device indicated for the treatment of life-threatening highly glycosylated viruses that are not addressed with an approved treatment."
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