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Aldeyra Therapeutics Reports Full Year 2014 Financial Results
Lexington, MA, March 19, 2015 Aldeyra Therapeutics, Inc. (NASDAQ: ALDX) (Aldeyra), a biotechnology company focused on the development of products to treat diseases related to free aldehydes, today announced its financial results for the full year ended December 31, 2014.
|||Opened enrollment in Phase II clinical trial for Sjögren-Larsson Syndrome (SLS) and awaiting Institutional Review Board (IRB) approval of Phase II clinical trial for noninfectious anterior uveitis|
|||Secured $9.79 million in financing through two private placements with leading healthcare investors|
|||Data on NS2 accepted for poster presentations at major medical conferences:|
|||2015 American Academy of Allergy Asthma & Immunology Annual Meeting|
|||2015 Society for Inherited Metabolic Disorders Annual Meeting|
|||Association for Research in Vision and Ophthalmology 2015 Annual Meeting|
Todd C. Brady, M.D., Ph.D., President and CEO of Aldeyra, commented, During 2014, we made progress toward our goals in the development of our product candidate, NS2. Most notably, we raised capital through our initial public offering that enabled us to make key hires and file Investigational New Drug applications in two rare diseases, Sjögren-Larsson Syndrome and noninfectious anterior uveitis.
As we begin 2015, we believe we are well positioned to continue advancing our clinical programs. We have recently opened enrollment in a Phase II trial for SLS and are awaiting IRB review of a Phase II trial for noninfectious anterior uveitis. With our recent capital raise, we have strengthened our balance sheet, which will support our efforts as we work to broaden our development plans.
Year Ended December 31, 2014 Financial Review
For the year ended December 31, 2014, Aldeyra reported a net loss attributable to common stockholders of approximately $(9.6) million compared to net income attributable to common stockholders of approximately $1.1 million for the year ended December 31, 2013. Basic net loss per share was $(2.51) for the year ended December 31, 2014 compared to basic net income of $3.49 per share for the same period in 2013. Diluted net loss per share was $(3.09) for the year ended December 31, 2014 compared to diluted net loss of $(17.61) per share for the same period in 2013. Losses have resulted from costs incurred in Aldeyras clinical trials, research and development programs and from its general and administrative expenses.
Research and development expenses were $3.7 million for the year ended December 31, 2014 compared to $1.5 million for the same period in 2013. The increase of $2.2 million is primarily related to the increase in Aldeyras external research and development expenditures, including preclinical, manufacturing and clinical efforts and an increase in personnel costs associated with an increase in headcount.
The following information was filed by Aldeyra Therapeutics, Inc. (ALDX) on Thursday, March 19, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.
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