In a regulatory filing, Aldeyra Therapeutics (NASDAQ:ALDX) reports that Chief Operating Officer Scott Young resigned effective August 30 by mutual agreement. The specific reasons for the move are not provided.
Aldyra Therapeutics (NASDAQ:ALDX) initiated with Buy rating and $16 (158% upside) price target by Stifel Nicolaus.
Shire plc (NASDAQ:SHPG) re-initiated with Buy rating and 6300p (36% upside) price target by Goldman Sachs.
Karyopharm Therapeutics (NASDAQ:KPTI) initiated with Outperform rating and $16 (129% upside) price by Baird.
Ultragenyx (NASDAQ:RARE) initiated with Buy rating and $72 (41% upside) price target by Bank of America.
NantHealth (NASDAQ:NH) initiated with Buy rating and $17 (36% upside) price target by Canaccord Genuity. First Analysis rates it Overweight with an $18 (44% upside) price target. Cowen and Company rates it Outperform with a $19 (52% upside) price target.
Clearside Biomedical (Pending:CLSD) initiated with Buy rating and $13 (84% upside) price target by Stifel Nicolaus. Cowen & Company rates it Outperform. Wedbush rates it Outperform with $28 (296% upside) price target.
GW Pharmaceuticals (NASDAQ:GWPH) initiated with Sell rating and $40 (57% downside risk) price target by Janney Capital.
Thinly traded nano cap Aldeyra Therapeutics (NASDAQ:ALDX) is up 11% premarket, albeit on only 700 shares, in response to its announcement that lead product candidate, NS2, was comparable to standard-of-care topical ocular corticosteroids in reducing anterior chamber cell count in patients with active anterior noninfectious anterior uveitis in a Phase 2 study.
45 subjects were randomized equally to receive NS2 0.5% four times a day or Pred Forte 1% (corticosteroid) four times a day or NS2 0.5% four times a day and Pred Forte twice daily. There were no statistical differences among all groups in any clinical endpoint. NS2 was generally well-tolerated with no serious adverse events observed.
NS2 is an aldehyde-binding molecule or aldehyde trap. By decreasing aldehyde load, it may mitigate excessive inflammation caused by excess aldehydes.
Aldeyra Therapeutics (NASDAQ:ALDX) announces positive results in a Phase 2a clinical trial assessing lead product candidate, topical ocular NS2, in subjects with induced allergic conjunctivitis (AC).
100 healthy men and women with at least a two-year history of AC related to grass, tree or ragweed pollen were randomized to receive either NS2 or vehicle. They were then challenged with a conjunctival allergen provocation test (CAPT). Results were measured on a 0-to-4 patient-determined scale of ocular itching and tearing, the two most common inflammation-related symptoms of AC. There was a statistically significant difference in the NS2 cohort compared to vehicle in both ocular itching (p<0.05) and tearing (p<0.05). The effects of NS2 persisted across all time points in the three hours following CAPT challenge despite a stronger-than-anticipated vehicle (placebo) effect.
NS2 was well-tolerated with no safety issues observed, although transient and mild stinging was noted in the treatment arm.
Data from a Phase 2 study in anterior uveitis should be available in Q2.
NS2 is an aldehyde-binding molecule. By decreasing aldehyde load, it may mitigate excessive inflammation caused by excess aldehydes.
Management will host a conference call this morning at 8:00 am ET to discuss the data.
Update: Shares are up 38% on a 26x surge in volume in early trading.