Benzinga | Jul 20, 2021 09:19AM EDT

Aldeyra Stock Trading Higher On FDA Orphan Drug Tag For Primary Vitreoretinal Lymphoma Candidate

* The FDA has granted Orphan Drug Designation to Aldeyra Therapeutics Inc's (NASDAQ:ALDX) ADX-2191 (methotrexate for intravitreal injection) for primary vitreoretinal lymphoma (PVRL).

* PVRL is a rare ocular lymphoid malignancy consisting of a subset of primary central system lymphoma (PCNSL) and the most common type of intraocular lymphoma.

* ADX-2191 is designed to inhibit dihydrofolate reductase, an enzyme involved in cellular replication and activation.

* Methotrexate is the most commonly used intravitreal medication for the treatment of PVRL.

* Price Action: ALDX shares are up 7.18% at $9.85 during the premarket session on the last check Tuesday.