ALDX Investor Alert: Aldeyra Therapeutics, Inc. Securities Fraud Lawsuit - Investors With Losses May Seek to Lead the Class Action After Company Allegedly Overstated Drug Approval Prospects: Levi & Korsinsky

Aldeyra Therapeutics Stock Falls After FDA Issues Complete Response Letter Rejecting Reproxalap for Dry Eye Disease

NEW YORK , March 25, 2026 /PRNewswire/ -- Aldeyra Therapeutics, Inc. (NASDAQ: ALDX) shares dropped approximately 70% after the FDA issued a Complete Response Letter for reproxalap, the Company's dry-eye therapy candidate, citing insufficient efficacy. Shareholders who lost money on their ALDX investment are encouraged to submit their information here . You may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

Reproxalap was Aldeyra's lead late-stage product candidate and the subject of a New Drug Application the Company had filed with the FDA. The Complete Response Letter indicated that the agency found the efficacy data supporting the application to be insufficient. Aldeyra had advanced reproxalap through multiple Phase 3 clinical trials for dry eye disease, and the program represented a central focus of the Company's disclosed pipeline and development efforts.

The FDA's decision followed a review process during which Aldeyra made public statements regarding the reproxalap program's progress and regulatory pathway. The stock traded as high as the mid-$5 range in recent sessions before falling sharply on the CRL disclosure. Levi & Korsinsky is investigating whether Aldeyra may have failed to adequately disclose risks related to the sufficiency of reproxalap's efficacy data ahead of the FDA's decision.

If you purchased Aldeyra Therapeutics shares and suffered a loss, click here to discuss your legal rights . You may also contact Joseph E. Levi, Esq. via email at jlevi@levikorsinsky.com or by telephone at (212) 363-7500.

ABOUT LEVI & KORSINSKY, LLP -- Over the past 20 years, Levi & Korsinsky has secured hundreds of millions of dollars for aggrieved shareholders. The firm has extensive expertise in complex securities litigation and a team of over 70 employees. For seven consecutive years, Levi & Korsinsky has ranked in ISS Securities Class Action Services' Top 50 Report.

CONTACT:

Levi & Korsinsky, LLP

Joseph E. Levi, Esq.

Ed Korsinsky, Esq.

33 Whitehall Street, 27th Floor

New York, NY 10004

jlevi@levikorsinsky.com

Tel: (212) 363-7500

Fax: (212) 363-7171

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SOURCE Levi & Korsinsky, LLP