ALDX Prices Offering At $5.00/Share

(RTTNews) - Aldeyra Therapeutics Inc. (ALDX) has offered to sell 2.4 million shares of its common stock to the public at a price of $5.00 each.

The gross proceeds from the offering are expected to be $12.0 million. The company had cash of $23.0 million at March 31, 2016.

The offering is expected to close on or about June 1, 2016. Aldeyra has granted the underwriter a 30-day option to purchase 360,000 additional shares of common stock offered in the public offering to cover over-allotments, if any.

The company reported positive results from a phase II clinical trial of topical ocular NS2 in reducing anterior chamber cell count in patients with active noninfectious anterior uveitis early this month.

Looking ahead, Aldeyra expects results of a phase II clinical trial of dermatologic NS2 for the treatment of ichthyosis in Sjögren-Larsson Syndrome, an inborn error of aldehyde metabolism, in the third quarter of 2016.

ALDX closed Thursday's trading at $5.44, down 2.51%.