Aldeyra Therapeutics, Inc. Announces Pricing of Public Offering of Common Stock
14 January 2021 - 1:36PM
Business Wire
Aldeyra Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra), a
clinical-stage biotechnology company focused on the development of
novel therapies with the potential to improve the lives of patients
with immune-mediated diseases, today announced the pricing of an
underwritten public offering of 6,842,106 shares of its common
stock at a public offering price of $9.50 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 $65.0 million. In addition,
Aldeyra granted the underwriters a 30-day option to purchase up to
1,026,315 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, reproxalap, and
its other product candidates, as well as for working capital, and
other general corporate purposes. The offering is expected to close
on or about January 19, 2021, subject to customary closing
conditions.
Jefferies LLC and SVB Leerink LLC are acting as joint
book-running managers for the offering. BTIG LLC and Oppenheimer
& Co. Inc. are acting as co-lead managers for the offering.
The shares of common stock described above are being offered by
Aldeyra pursuant to a shelf registration statement on Form S-3
previously filed with the Securities and Exchange Commission (SEC)
and declared effective by the SEC on July 27, 2018. A preliminary
prospectus supplement 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: Jefferies
LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison
Avenue, 2nd Floor, New York, New York 10022, by telephone at
877-821-7388 or by email at Prospectus_Department@Jefferies.com, or
from SVB Leerink LLC, Attention: Syndicate Department, One Federal
Street, 37th Floor, Boston, Massachusetts 02110, by telephone at
1-800-808-7525, ext. 6132, or by email at
syndicate@svbleerink.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 the registration or qualification under the
securities laws of any such state or other jurisdictions.
About Aldeyra Therapeutics, Inc.
Aldeyra Therapeutics is a clinical-stage biotechnology company
focused on the development of novel therapies with the potential to
improve the lives of patients with immune-mediated diseases. Two of
the company’s lead investigational compounds, reproxalap and
ADX-629, target RASP (reactive aldehyde species), which are
elevated in ocular and systemic inflammatory disease and result in
cytokine release via activation of a broad array of inflammatory
factors, including NF-κB, inflammasomes, and Scavenger Receptor A.
Reproxalap is being evaluated in Phase 3 clinical trials in
patients with dry eye disease and allergic conjunctivitis. The
company’s clinical pipeline also includes ADX-2191, a dihydrofolate
reductase inhibitor in Phase 3 testing for proliferative
vitreoretinopathy, and ADX-1612, a chaperome inhibitor in
development for COVID-19 and ovarian cancer.
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, 2019 and Aldeyra’s Quarterly Report on Form 10-Q for the
quarter ended September 30, 2020 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.
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version on businesswire.com: https://www.businesswire.com/news/home/20210113005971/en/
Corporate Contact: David McMullin Aldeyra Therapeutics, Inc.
Tel: 781-761-4904 ext. 218 dmcmullin@aldeyra.com Investor &
Media Contact: Scott Solomon Sharon Merrill Associates, Inc. Tel:
617-542-5300 ALDX@investorrelations.com
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