RTTNews | Dec 21, 2021 01:03PM EST

13:03 Tuesday, December 21, 2021 (RTTNews.com) - Shares of Aldeyra Therapeutics, Inc. (ALDX) tanked over 50% on Tuesday morning after the company said its late-stage trial of dry eye disease treatment failed to meet primary endpoint.

ALDX is currently trading at $3.469, down $3.661 or 51.3464%, on the Nasdaq.

The company said the primary endpoint of ocular redness was not met in TRANQUILITY study. Meanwhile, a statistical significance was achieved for the dry eye disease sign of Schirmer test, a secondary endpoint.

The primary endpoint of the upcoming Phase 3 TRANQUILITY-2 Trial has been modified such that the endpoint will have been met if either Schirmer test or ocular redness demonstrates stastisical significance.

In addition, target enrollment in TRANQUILITY-2 has been increased from 300 to up to 400 patients. Top-line results from TRANQUILITY-2 are expected mid-2022.

Read the original article on RTTNews ( https://www.rttnews.com/3250899/aldeyra-therapeutics-tanks-50-after-late-stage-trial-of-dry-eye-disease-treatment-fails.aspx)

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