Aldeyra sentiment ‘misplaced’ as ‘2191 distinct from RASP, says H.C. Wainwright

After Aldeyra announced its receipt of a complete response letter for the NDA of ADX-2191 in the treatment of primary vitreoretinal lymphoma, or PVRL, H.C. Wainwright analyst Matthew Caufield called the PVRL indication “a nice-to-have” for the pipeline and not reflective of the core differentiation provided by parallel therapeutic development for the novel reactive aldehyde species, or RASP, modulator pathway. The firm, which views forthcoming ADX-2191 updates “simply as upside” beyond reproxalap development, thinks sentiment following the CRL is “misplaced” and reiterates a Buy rating and $15 price target on Aldeyra shares.