Aldeyra Therapeutics (ALDX) investor relations material

Introduction and purpose

• Announced intent to submit a Formal Dispute Resolution Request (FDRR) to the FDA for reproxalap in dry eye disease following three Complete Response Letters, most recently in March 2026.

• The FDRR aims to contest the FDA's conclusion that the totality of evidence does not support effectiveness.

Details of approval or decision

• Three Complete Response Letters were received for reproxalap's NDA for dry eye disease; the latest cited insufficient evidence for effectiveness but did not request further trials.

• The FDRR will be submitted to the FDA's Office of New Drugs, with a meeting expected in Q4 2026.

• The FDRR process follows PDUFA goals, with meetings typically held within 30 days of submission and decisions expected within 30 days post-meeting, unless further information or discussion is required.

Impact on industry and stakeholders

• Dry eye disease affects over 39 million adults in the US, and current treatments are considered inadequate by providers and patients.

• Reproxalap is positioned as a novel therapeutic with rapid and broad symptomatic improvement, potentially shifting the standard of care.

• The company is financially positioned to fund operations into 2029, supporting ongoing regulatory and clinical activities.

• Half of pivotal trials for approved dry eye drugs failed to meet all primary endpoints, suggesting regulatory precedent for approval despite incomplete efficacy data.