What's Going On With Aldeyra Therapeutics Stock On Thursday?

Since Tuesday, the company’s stock has slumped by around 67%.FDA Rejects Aldeyra Reproxalap ApplicationThe company received an FDA Complete Response Letter (CRL) for its New Drug Application for reproxalap, indicating a lack of substantial evidence from controlled studies.The FDA’s letter raised concerns over the efficacy of reproxalap, stating that further trials are not recommended, but suggested exploring specific populations where the drug may be effective.In a statement, Aldeyra’s CEO emphasized the ur ...