Aldeyra Therapeutics commences public offering of 3 million shares

Deal has 15% greenshoe; proceeds to support company’s operations

By Devika Patel

Knoxville, Tenn., May 5 – Aldeyra Therapeutics, Inc. said it launched a public offering of 3 million common shares with a 30-day greenshoe of 450,000 additional shares. The deal was announced April 20.

Cowen and Co., LLC and Canaccord Genuity Inc. are the bookrunners. Janney Montgomery Scott LLC and Laidlaw & Co. (UK) Ltd. are the co-managers.

Proceeds from the sale will be used to support the company’s operations.

Specifically, Aldeyra will use funds raised for research and development activities, including current and additional clinical trials of topically administered NS2, to develop systemic formulations of NS2, to develop novel aldehyde traps distinct from NS2, to expand clinical development and regulatory infrastructure, and for working capital and other general corporate purposes.

NS2, the company’s most advanced product candidate, is applied to the skin to treat the dermatologic symptoms of Sjögren-Larsson Syndrome, a rare condition that the company believes afflicts approximately 1,000 patients in the United States.

Aldeyra is a Lexington, Mass., biotechnology company.

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