Robbins LLP files class action against Aldeyra Therapeutics over reproxalap trial data (Nov. 3, 2023 – Mar. 16, 2026)

Robbins LLP has reminded investors that a class action lawsuit has been filed on behalf of all purchasers of Aldeyra Therapeutics, Inc. (NASDAQ: ALDX) securities between November 3, 2023 and March 16, 2026. Aldeyra describes itself as a biotechnology company focused on developing therapies for immune-mediated diseases, including dry eye disease. The company’s investigational treatment discussed in the action is reproxalap, a novel reactive aldehyde species (RASP) inhibitor.

Class period and scope

The class period is stated as November 3, 2023 through March 16, 2026.

Allegations investigated

Robbins LLP said it is investigating allegations that Aldeyra misled investors regarding its lead drug candidate. According to the complaint, during the class period, defendants allegedly failed to disclose that:

• Results from reproxalap clinical trials were inconsistent.
• The inconsistency of trial results made any positive findings unreliable and not meaningful.
• As a result, statements about Aldeyra’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at relevant times.

Company filing and market reaction

On March 17, 2026, Aldeyra filed with the SEC a current report on Form 8-K announcing receipt of a 2026 Complete Response Letter. The letter states there is a lack of substantial evidence, including adequate and well-controlled investigations, to support that the drug product will have the effect it purports to have under the proposed conditions of use. It also states the application failed to demonstrate efficacy in adequate and well-controlled studies for the treatment of signs and symptoms of dry eye disease.

The Complete Response Letter further states that inconsistency in study results raises serious concerns about the reliability and meaningfulness of positive findings, and that the totality of evidence from completed clinical trials does not support product effectiveness.

Following the news, Aldeyra’s stock price fell by $2.99, or approximately 70.7%, to close at $1.24 per share on March 17, 2026.

What shareholders can do

Robbins LLP said shareholders may be eligible to participate in the class action. Those who wish to serve as lead plaintiff must submit papers to the court by May 29, 2026. The lead plaintiff is described as a representative party that directs the litigation on behalf of other class members. The firm also stated that shareholders do not have to participate in the case to be eligible for recovery; if no action is taken, they can remain an absent class member.

Fees and firm background

Robbins LLP said all representation is on a contingency fee basis, and shareholders pay no fees or expenses.

Robbins LLP described itself as a shareholder rights litigation firm and said it has been dedicated to helping shareholders recover losses, improve corporate governance structures, and hold executives accountable since 2002.