LEXINGTON, Mass., Sept. 19, 2017 /PRNewswire/ -- Aldeyra
Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a clinical-stage
biotechnology company devoted to treating inflammation, inborn
errors of metabolism, and other diseases related to endogenous
aldehyde toxicity, today announced the pricing of an underwritten
public offering of 3,450,000 shares of its common stock at a public
offering price of $7.25 per share.
The gross proceeds from the offering, before deducting underwriting
discounts and commissions and estimated offering expenses payable
by Aldeyra, are expected to be approximately $25 million. In addition, Aldeyra granted the
underwriters a 30-day option to purchase up to 517,500 additional
shares of common stock at the public offering price, less the
underwriting discounts and commissions. All of the shares in the
offering are being sold by Aldeyra. Aldeyra anticipates using the
net proceeds from the offering for the continued development of
Aldeyra's lead compound ADX-102 and other product candidates, as
well as for debt maintenance, working capital and other general
corporate purposes.
Cantor Fitzgerald & Co. is the sole book-running manager for
the offering. Laidlaw & Company (UK) Ltd. is acting as the
lead manager for the offering.
The offering is expected to close on or about September 21, 2017 subject to customary closing
conditions.
The shares of common stock described above are being offered by
Aldeyra pursuant to its shelf registration statement on Form S-3
previously filed with the Securities and Exchange Commission (SEC)
and declared effective by the SEC on September 1, 2015. A preliminary prospectus
supplement and accompanying prospectus relating to and describing
the terms of the offering has been filed with the SEC and is
available on the SEC's web site at www.sec.gov. Copies of the final
prospectus supplement (when available) and accompanying prospectus
relating to these securities may also be obtained by sending a
request to: Cantor Fitzgerald & Co., Attention: Capital
Markets, 499 Park Avenue, 6th Floor New
York, New York 10022; email: prospectus@cantor.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any of these securities, nor will
there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the
securities laws of any such state or jurisdictions.
About Aldeyra Therapeutics, Inc.
Aldeyra Therapeutics, Inc. is a biotechnology company devoted to
improving lives by inventing, developing and commercializing
products that treat diseases thought to be related to endogenous
aldehydes, a naturally occurring class of pro-inflammatory and
toxic molecules. Aldeyra's lead product candidate, ADX-102,
is an aldehyde trap in development as topical eye drops for the
treatment of ocular inflammation. ADX-102 has now been tested in
over 250 patients in Phase 2 clinical trials in dry eye disease,
allergic conjunctivitis, and noninfectious anterior uveitis. A
dermatologic form of ADX-102 is in late-stage clinical development
for the treatment of ichthyosis due to Sjögren-Larsson Syndrome, an
inborn error of aldehyde metabolism. ADX-102 has not been approved
for sale in the U.S. or elsewhere.
Safe Harbor Statement
This release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, including but not limited to statements regarding the
closing of the public offering and the anticipated use of the
proceeds thereof. These forward-looking statements are subject to a
number of risks, including the satisfaction of customary closing
conditions related to the proposed public offering and the risk
factors set forth from time to time in Aldeyra's SEC filings,
including but not limited to the risks that are described in the
"Risk Factors" and "Management's Discussion and Analysis of
Financial Condition and Results of Operations" sections of
Aldeyra's Annual Report on Form 10-K for the year ended
December 31, 2016 and Aldeyra's
Quarterly Report on Form 10-Q for the quarter ended June 30, 2017, which are on file with the SEC and
available on the SEC's website at www.sec.gov. In addition to the
risks described above and in Aldeyra's other filings with the SEC,
other unknown or unpredictable factors also could affect Aldeyra's
results. No forward-looking statements can be guaranteed and actual
results may differ materially from such statements. The information
in this release is provided only as of the date of this release,
and Aldeyra undertakes no obligation to update any forward-looking
statements contained in this release on account of new information,
future events, or otherwise, except as required by law.
CONTACT:
Corporate Contact:
Stephen Tulipano
Aldeyra Therapeutics, Inc.
Tel: +1 781-761-4904 Ext. 205
stulipano@aldeyra.com
Investor Contact:
Chris Brinzey
Westwicke Partners
Tel: +1 339-970-2843
chris.brinzey@westwicke.com
Media Contact:
Cammy Duong
MacDougall Biomedical Communications
Tel: +1 781-591-3443
cduong@macbiocom.com
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SOURCE Aldeyra Therapeutics, Inc.