Robbins LLP informs stockholders that a class action was filed on behalf of all investors who purchased or otherwise acquired Aldeyra Therapeutics, Inc. (NASDAQ: ALDX) securities between November 3, 2023 and March 16, 2026. Defendant Aldeyra describes itself as a “biotechnology company devoted to discovering innovative therapies designed to treat immune-mediated diseases.” Pertinent to this action is reproxalap, which is a novel reactive aldehyde species (RASP) inhibitor investigated by Aldeyra as a treatment for a variety of diseases, including dry eye disease.

For more information, submit a form, email attorney Aaron Dumas, Jr., or give us a call at (800) 350-6003.

The Allegations: Robbins LLP is Investigating Allegations that Aldeyra Therapeutics, Inc. (ALDX) Misled Investors Regarding its Lead Drug Candidate

According to the complaint, during the class period, defendants failed to disclose that: (1) the results of the reproxalap clinical trials were inconsistent; (2) the inconsistency of the results rendered any positive findings from these trials unreliable and not meaningful; and (3) as a result, defendants’ statements about Aldeyra’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On March 17, 2026, the Company filed with the SEC a current report on Form 8-K, announcing receipt of the 2026 Complete Response Letter, stating that there is “a lack of substantial evidence consisting of adequate and well-controlled investigations … that the drug product will have the effect it purports or is represented to have under the conditions of use prescribed, recommended, or suggested in its proposed labeling” and that “the application has failed to demonstrate efficacy in adequate and well controlled studies in the treatment of signs and symptoms of dry eye disease.” The 2026 Complete Response Letter also stated that the “inconsistency of study results raises serious concerns about the reliability and meaningfulness of the positive findings” and that “the totality of evidence from the completed clinical trials does not support the effectiveness of the product.” On this news, the price of Aldeyra stock went down by $2.99, or approximately 70.7%, to close at $1.24 per share on March 17, 2026.

What Now: You may be eligible to participate in the class action against Aldeyra Therapeutics, Inc. Shareholders who wish to serve as lead plaintiff for the class should contact Robbins LLP. The lead plaintiff is a representative party who acts on behalf of other class members in directing the litigation. You do not have to participate in the case to be eligible for a recovery. If you choose to take no action, you can remain an absent class member. For more information, click here.

All representation is on a contingency fee basis. Shareholders pay no fees or expenses.

About Robbins LLP: A recognized leader in shareholder rights litigation, the attorneys and staff of Robbins LLP have been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold company executives accountable for their wrongdoing since 2002.

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