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ALDX

Aldeyra Therapeutics, Inc.

ALDX

Aldeyra Therapeutics, Inc. • NASDAQ
$5.48 ▼ -1.97% (-0.11)
Market Cap $329.58 M
52w High $7.20
52w Low $1.14
Dividend Yield 0%
P/E -7.51
Volume 390.90K
Outstanding Shares 60.14M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $0 $8.001M ▼ $-7.688M ▲ 0% $-0.13 ▲ $-7.149M ▲
Q2-2025 $0 $10.169M ▼ $-9.767M ▲ 0% $-0.16 ▲ $-9.234M ▲
Q1-2025 $0 $10.427M ▼ $-9.93M ▲ 0% $-0.17 ▲ $-9.385M ▲
Q4-2024 $0 $16.513M ▲ $-15.809M ▼ 0% $-0.27 ▼ $-15.274M ▼
Q3-2024 $0 $16.138M $-15.113M 0% $-0.25 $-14.571M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $75.297M ▼ $77.801M ▼ $28.556M ▼ $49.245M ▼
Q2-2025 $81.92M ▼ $84.963M ▼ $29.675M ▲ $55.288M ▼
Q1-2025 $90.058M ▼ $93.196M ▼ $29.597M ▼ $63.599M ▼
Q4-2024 $101.151M ▼ $104.607M ▼ $33.602M ▲ $71.005M ▼
Q3-2024 $112.744M $117.319M $32.224M $85.096M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-7.688M ▲ $-7.021M ▲ $25M ▲ $120.746K ▲ $18.099M ▲ $-7.021M ▲
Q2-2025 $-9.767M ▲ $-8.555M ▲ $-554.126K ▼ $0 ▼ $-9.109M ▼ $-8.555M ▲
Q1-2025 $-9.93M ▲ $-12.47M ▼ $7.29M ▲ $1.003M ▲ $-4.176M ▲ $-12.47M ▼
Q4-2024 $-15.809M ▼ $-12.037M ▼ $-1.564M ▼ $7.779K ▲ $-13.593M ▼ $-12.037M ▼
Q3-2024 $-15.113M $-7.975M $5.263M $-197.392K $-2.91M $-7.975M

Five-Year Company Overview

Income Statement

Income Statement Aldeyra is still a pure research-stage biotech with essentially no product revenue over the past several years. The income statement is dominated by R&D and operating expenses, which lead to steady, recurring losses each year. Those losses have been fairly stable in size rather than rapidly expanding, which suggests some discipline in spending. However, the business model is still entirely dependent on future approvals and partnerships, since there is no current commercial engine to offset costs. Until a drug is approved and launched, investors should expect the pattern of operating and net losses to continue.

Balance Sheet

Balance Sheet The balance sheet reflects a small, development-stage company. Total assets and cash have come down meaningfully over the last few years as the company funds its trials. Debt is present but modest, so the capital structure is not heavily leveraged; equity still finances most of the business. The decline in equity over time mirrors the ongoing losses. Overall, the balance sheet is simple but getting lighter, and future progress will likely depend on the company’s ability to raise additional capital or secure partnerships before cash becomes tight.

Cash Flow

Cash Flow Cash flows show a consistent pattern of money flowing out of the business to fund operations, with no meaningful investment in physical assets. Operating cash outflows are steady rather than exploding, which indicates controlled burn but also underlines that the company is not yet self-sustaining. Free cash flow is negative and tracks closely with operating cash use, because capital spending is minimal. In practical terms, the company’s cash runway is finite, and its future hinges on external financing, cost discipline, and the timing of regulatory and partnering milestones.

Competitive Edge

Competitive Edge Aldeyra’s competitive position is built around a specialized, first-in-class approach to inflammation via RASP modulation, plus additional mechanisms in eye disease and protein folding. This gives it a differentiated scientific story versus more conventional immune and ophthalmology drugs. Its patent estate and focus on underserved eye and rare diseases provide some protection and potential pricing power if products reach the market. At the same time, as a small biotech it faces the usual structural disadvantages: limited commercial infrastructure, dependence on a few lead programs, and potential competition from much larger pharma companies if the approach proves successful. Overall, the moat is rooted more in science and intellectual property than in current market share.

Innovation and R&D

Innovation and R&D Innovation is clearly the core of Aldeyra. The company is pursuing a novel “upstream” way to calm inflammation by clearing harmful aldehydes, alongside platforms in eye disease and chaperome inhibition. Its lead candidate for dry eye and allergic eye disease, plus a reformulated drug for rare retinal conditions, show how the company combines new biology with more established molecules. The pipeline is relatively broad for a company its size, including early moves into neurological and dermatologic conditions. Recent pipeline pruning and prioritization suggest management is trying to focus resources on the most promising and capital-efficient programs. The scientific approach is ambitious and potentially far-reaching, but remains clinically and commercially unproven, so development and regulatory outcomes are the key uncertainties.

Summary

Aldeyra is a small, research-driven biotech focused on a novel way to treat immune-mediated and eye diseases, with no approved products yet and no revenue so far. Its financial profile is typical for a clinical-stage company: steady losses, a shrinking but still meaningful cash position, modest debt, and ongoing negative cash flow. The strategic story centers on differentiated science, a targeted focus on eye and rare diseases, and a pipeline that offers several potential value-creating milestones. The main risks are binary in nature: clinical trial results, regulatory decisions, partnership prospects, and access to capital as cash is spent. Overall, this is an early-stage, high-uncertainty profile where scientific progress and funding will largely determine the company’s future trajectory.

NEWS

November 13, 2025 · 7:00 AM UTC

Aldeyra Therapeutics Announces Expansion of RASP Platform to Include Central Nervous System Diseases and Provides Updates on Reproxalap at Research & Development Webcast

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November 11, 2025 · 7:01 AM UTC

Aldeyra Therapeutics to Participate in the Jefferies Global Healthcare Conference in London

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November 6, 2025 · 7:00 AM UTC

Aldeyra Therapeutics to Host Research & Development Update Webcast Event Scheduled for Thursday, November 13 at 8:00 a.m. ET

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October 28, 2025 · 7:01 AM UTC

Aldeyra Therapeutics Announces Positive Results from Phase 2 Clinical Trial in Alcohol-Associated Hepatitis, Focuses RASP Product Candidate Pipeline on Next-Generation Molecules

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