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Aldeyra Therapeutics Reports Full Year 2015 Financial Results
Lexington, MA, March 30, 2016 Aldeyra Therapeutics, Inc. (Nasdaq:ALDX) (Aldeyra), a biotechnology company focused on the development of products to treat diseases related to aldehydes, today announced its financial results for the year ended December 31, 2015.
We are pleased with the progression of our clinical development in 2015. Specifically, we initiated three Phase II clinical trials of our lead product candidate, NS2, in different indications, commented Todd C. Brady, M.D., Ph.D., President and CEO of Aldeyra. Earlier this year we were proud to announce positive data from our Phase IIa clinical trial in allergic conjunctivitis, the first of the clinical trials to be completed. These data represent a significant milestone for Aldeyra, and suggest the potential of NS2 aldehyde trapping in inflammatory disease. We look forward to top-line data from our noninfectious anterior uveitis trial in the second quarter of 2016, followed by data from our Sjögren-Larsson Syndrome trial.
Dr. Brady concluded, In 2016, we expect to build on our accomplishments from last year by initiating clinical development of aldehyde traps that are administered systemically. We are excited to continue to advance NS2 and other aldehyde traps as a novel therapeutic approach for inflammatory disease and inborn errors of aldehyde metabolism.
Year Ended December 31, 2015 Financial Review
For the year ended December 31, 2015, Aldeyra reported a net loss attributable to common stockholders of approximately $(12.1) million compared to a net loss of approximately $(9.6) million for the year ended December 31, 2014. Basic and diluted net loss per share was $(1.40) for the year ended December 31, 2015 compared to basic net loss of $(2.51) per share and diluted net loss of $(3.09) per share for the same period in 2014. Losses have resulted from the costs of our clinical trials and research and development programs, as well as from general and administrative expenses.
Research and development expenses were $7.6 million for the year ended December 31, 2015 compared to $3.7 million for the same period in 2014. The increase of $3.9 million is primarily related to the increase in our research and development expenditures, including preclinical, manufacturing and clinical development costs and higher personnel costs associated with an increase in headcount.
General and administrative expenses were $4.4 million for the year ended December 31, 2015, compared to $3.6 million for the year ended 2014. The increase of $0.8 million is primarily related to an increase in insurance costs, legal costs and personnel costs due to increased headcount.
In 2015, total operating expenses were approximately $12 million for the year compared to total operating expenses of approximately $7.3 million for 2014.
Cash, cash equivalents and marketable securities were $27.6 million as of December 31, 2015.
Conference Call & Webcast Information
The Company will hold a conference call on Wednesday, March 30, 2016 at 8:30 a.m. ET to discuss the results. The dial-in numbers are 1-877-407-0784 for domestic callers and 1-201-689-8560 for international callers. The conference ID number for both is 13632696. A live webcast of the conference call will also be available on the investor relations page of the Companys corporate website at www.aldeyra.com.
After the live webcast, the event will remain archived on the Companys website for one year. In addition, a telephonic replay of the call will be available until April 13, 2016. The replay dial-in numbers are 1-877-870-5176 for domestic callers and 1-858-384-5517 for international callers. Please use event passcode 13632696.
About Aldeyra Therapeutics
Aldeyra Therapeutics, Inc., is a biotechnology company devoted to improving lives by inventing, developing and commercializing products that treat diseases thought to be related to endogenous
The following information was filed by Aldeyra Therapeutics, Inc. (ALDX) on Wednesday, March 30, 2016 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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