ALDX Crashes 71% as FDA Issues Third CRL for Dry Eye Disease Drug NDA

Key Takeaways Aldeyra Therapeutics received a third CRL for reproxalap's dry eye disease NDA, sending shares down 70.7%.ALDX's application failed to show substantial evidence of efficacy due to inconsistent results across studies.ALDX plans a Type A FDA meeting to clarify the steps needed for potential approval in dry eye disease.Shares of Aldeyra Therapeutics (ALDX) plunged 70.7% on Tuesday after the company announced receiving a Complete Response Letter (CRL) from the FDA for a third time for the new drug ...