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ALDX.US
id: 792
Aldeyra (ALDX) ADX-2191 Failed NDA Case
D. Massachusetts
Court 1:23-cv-11737
Case number17 Mar 2022
Class period Start20 Jun 2023
Class period End29 Sept 2023
Lead Plaintiff motion deadline- FDA stated that there was a lack of effectiveness evidence in NDA for Aldeyra's ADX-2191.
- $ALDX fell over 27%, losing $170 million of its market cap.
- Investors suspect Aldeyra of failing to disclose that the ADX-2191 application did not include adequate investigations.
On June 21, 2023, Aldeyra (ALDX) announced receipt of a CRL from the FDA for the NDA of ADX-2191 (methotrexate for injection, USP), an investigational drug candidate, for the treatment of primary vitreoretinal lymphoma (PVRL). The press release stated that “although no safety or manufacturing issues with ADX-2191 were identified, the FDA stated that there was a lack of substantial evidence of effectiveness due to a lack of adequate and well-controlled investigations’ in the literature-based NDA submission.
On this news, $ALDX fell over 27%, losing more than $170 million of its market capitalization.
Taking all representations into account, Investors have reasons to suspect Aldeyra and its Accountables of misleading and failing to disclose that the ADX-2191 application did not include adequate and well-controlled investigations and thus failed to show substantial evidence of ADX-2191's effectiveness.
Case Status
Motion to dismiss
Alleged Offence
Misleading Statements,
Failure to Disclose,
Negligence,
Omissions
Suspected Party
Directors,
Management,
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
21 June 2023
Filing date
31 July 2023
Lead Plaintiff Deadline
29 September 2023
Judge
Hon. Denise J. Casper