Health and Healthcare
Why Aldeyra Therapeutics Could Have Exponential Upside
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Aldeyra Therapeutics Inc. (NASDAQ: ALDX) is looking strong going into the second quarter of 2016. Not only does this company have a good cash position, but it also it has a strong pipeline as well. As a result, one key analyst has decided to weigh in on the firm and where it stands to go from here.
Janney Montgomery Scott reiterated a Buy rating and $25 fair value on expected utility for aldehyde trapping in topical and systemic indications.
The company reported 2015 year-end cash of $27.6 million. That, combined with the $3.6 million-potential-remaining credit facility, is expected to fund operations through 2017, not taking into account expenses for new studies.
Phase 2 data for uveitis is on track for the second quarter of 2016, and for Sjogren-Larsson (SLS) for second quarter or third quarter.
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