Overview

A class action lawsuit has been filed against Aldeyra Therapeutics, Inc. (“Aldeyra” or the “Company”) NASDAQ : ALDX) and certain of the Company’s senior executive officers (collectively, “Defendants”), alleging violations of the federal securities laws. The Aldeyra lawsuit is brought on behalf of all persons and entities who purchased or otherwise acquired Aldeyra securities between November 3, 2023, and March 16, 2026, inclusive (the “Class Period”). Investors have until May 29, 2026, to seek appointment as lead plaintiff of the Aldeyra class action lawsuit.

Aldeyra is a biotechnology company that seeks to discover innovative therapies designed to treat immune-mediated diseases. This securities class action arises from Defendants’ alleged misrepresentations and omissions regarding the efficacy and reliability of Aldeyra’s lead drug candidate, reproxalap, for the treatment of dry eye disease.

The complaint alleges that throughout the Class Period, Defendants repeatedly represented in public filings and statements that reproxalap demonstrated “consistent,” “statistically significant,” and “clinically relevant” results across multiple Phase 2 and Phase 3 clinical trials. In reality, according to the complaint, the clinical trial results were inconsistent and unreliable, rendering any purported positive findings not meaningful.

The truth emerged on March 17, 2026, when Aldeyra disclosed that it had received a Complete Response Letter from the U.S. Food and Drug Administration (“FDA”). The FDA stated that the Company failed to provide substantial evidence of efficacy and highlighted concerns about inconsistent study results and the lack of meaningful clinical benefit.  Indeed, the FDA stated 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 declined by $2.99 per share, or more than 70%, to close at $1.24 per share on March 17, 2026.

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If you purchased or otherwise acquired Aldeyra securities between November 3, 2023, and March 16, 2026, and you wish to serve as lead plaintiff in this lawsuit, you are encouraged to submit your information to DiCello Levitt LLP via the form on this page. 

You can also contact DiCello Levitt attorneys Brian O’Mara and Hani Farah by calling (888) 287-9005 or at investors@dicellolevitt.com. 

The deadline to apply to the Court to serve as a lead plaintiff in the Aldeyra class action lawsuit is May 29, 2026.