Aldeyra Therapeutics Announces FDA Acceptance for Review of Reproxalap New Drug Application for the Treatment of Dry Eye Disease PDUFA Target Action Date

Aldeyra Therapeutics Announces FDA Acceptance

for Review of Reproxalap New Drug Application for the Treatment of Dry Eye Disease

PDUFA Target Action Date December 16,

Lexington, Mass., July 17, 2025 - Aldeyra

Therapeutics, Inc. (Nasdaq: ALDX) (Aldeyra) today announced that the U.S. Food and Drug Administration (FDA) has accepted for review

the resubmitted New Drug Application (NDA) for topical ocular reproxalap, a first-in-class investigational new drug candidate, for

the treatment of the signs and symptoms of dry eye disease. The FDA assigned a Prescription Drug User Fee Act (PDUFA) target action

date of December 16, 2025.

"Based on the FDA's requirement for an additional clinical

trial demonstrating the efficacy of reproxalap in treating the symptoms of dry eye disease, and per agreement with the FDA, the NDA resubmission

contained a single clinical trial that achieved the primary endpoint of reducing ocular discomfort relative to the vehicle control,"

stated Todd C. Brady, M.D., Ph.D., President and Chief Executive Officer of Aldeyra. "We look forward to a productive dialog with

the FDA during the NDA review of reproxalap, which, to our knowledge, remains the only dry eye disease investigational therapy to have

demonstrated acute activity in reducing ocular discomfort and redness in pivotal trials simulating the disease flares that are likely

the most bothersome aspects of dry eye disease."

Reproxalap is an investigational new drug candidate in development

for the treatment of dry eye disease and allergic conjunctivitis, two of the largest markets in ophthalmology. Reproxalap is a first-in-class

small-molecule modulator of RASP, which are elevated in ocular and systemic inflammatory diseases. The mechanism of action of reproxalap

has been supported by the demonstration of statistically significant and clinically relevant activity in multiple physiologically distinct

late-phase clinical indications. Reproxalap has been studied in more than 2,900 patients with no observed safety concerns; mild and transient

instillation site irritation is the most commonly reported adverse event in clinical trials.

Aldeyra is a biotechnology company devoted to discovering innovative

therapies designed to treat immune-mediated and metabolic diseases. Aldeyra' s approach is to develop pharmaceuticals that modulate

protein systems, instead of directly inhibiting or activating single protein targets, with the goal of optimizing multiple pathways at

once while minimizing toxicity. Aldeyra's product candidates include RASP (reactive aldehyde species) modulators ADX-629, ADX-248,

ADX-743, ADX-631, ADX-246, and chemically related molecules for the potential treatment of systemic and retinal immune-mediated and metabolic

diseases. Aldeyra's late-stage product candidates are reproxalap, a RASP modulator for the potential treatment of dry eye disease

and allergic conjunctivitis, and ADX-2191, a novel formulation of intravitreal methotrexate for the potential treatment of primary vitreoretinal

lymphoma and retinitis pigmentosa.

Safe Harbor Statement

This release contains forward-looking statements within the meaning

of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements regarding Aldeyra's future expectations,

plans, and prospects, including without limitation statements regarding: the goals, opportunity, and potential for reproxalap; the likelihood

and timing of the FDA's potential approval of the NDA for reproxalap by the PDUFA date, or at any other time; and the adequacy of the

data included in the NDA resubmission. Aldeyra intends such forward-looking statements to be covered by the safe harbor provisions for

forward-looking statements contained in Section 21E of the Securities Exchange Act of 1934 and the Private Securities Litigation Reform

Act of 1995. In some cases, you can identify forward-looking statements by terms such as, but not limited to, "may," "might,"

"will," "objective," "intend," "should," "could," "can," "would,"

"expect," "believe," "anticipate," "project," "on track," "scheduled,"

"target," "design," "estimate," "predict," "contemplates," "likely,"

"potential," "continue," "ongoing," "aim," "plan," or the negative of these

terms, and similar expressions intended to identify forward-looking statements. Such forward-looking statements are based upon current

expectations that involve risks, changes in circumstances, assumptions, and uncertainties. Aldeyra is at an early stage of development

and may not ever have any products that generate significant revenue. All of Aldeyra's development timelines may be subject to adjustment

depending on recruitment rate, regulatory review, preclinical and clinical results, funding, and other factors that could delay the initiation,

enrollment, or completion of clinical trials. Important factors that could cause actual results to differ materially from those reflected

in Aldeyra's forward-looking statements include, among others, the timing of enrollment, commencement and completion of Aldeyra's clinical

trials, the timing and success of preclinical studies and clinical trials conducted by Aldeyra and its development partners; delay in

or failure to obtain regulatory approval of Aldeyra's product candidates, including as a result of the FDA not accepting Aldeyra's

regulatory filings, issuing a complete response letter, or requiring additional clinical trials or data prior to review or approval of

such filings or in connection with resubmissions of such filings; the ability to maintain regulatory approval of Aldeyra's product candidates,

and the labeling for any approved products; the risk that prior results, such as signals of safety, activity, or durability of effect,

observed from preclinical or clinical trials, will not be replicated or will not continue in ongoing or future studies or clinical trials

involving Aldeyra's product candidates in clinical trials focused on the same or different indications; the scope, progress, expansion,

and costs of developing and commercializing Aldeyra's product candidates; uncertainty as to Aldeyra's ability to commercialize (alone

or with others) and obtain reimbursement for Aldeyra's product candidates following regulatory approval, if any; the size and growth of

the potential markets and pricing for Aldeyra's product candidates and the ability to serve those markets; Aldeyra's expectations regarding

Aldeyra's expenses and future revenue, the timing of future revenue, the sufficiency or use of Aldeyra's cash resources and needs for

additional financing; the rate and degree of market acceptance of any of Aldeyra's product candidates; Aldeyra's expectations regarding

competition; Aldeyra's anticipated growth strategies; Aldeyra's ability to attract or retain key personnel; Aldeyra's commercialization,

marketing and manufacturing capabilities and strategy; Aldeyra's ability to establish and maintain development partnerships; Aldeyra's

ability to successfully integrate acquisitions into its business; Aldeyra's expectations regarding federal, state, and foreign regulatory

requirements; political, economic, legal, social, and health risks, public health measures, and war or other military actions, that may

affect Aldeyra's business or the global economy; regulatory developments in the United States and foreign countries; Aldeyra's ability

to obtain and maintain intellectual property protection for its product candidates; the anticipated trends and challenges in Aldeyra's

business and the market in which it operates; and other factors that are described in the "Risk Factors" and "Management's

Discussion and Analysis of Financial Condition and Results of Operations" sections of Aldeyra's Annual Report on Form 10-K for the

year ended December 31, 2024, and Aldeyra's Quarterly Report on Form 10-Q for the quarter ended March 31, 2025, which are on file

with the Securities and Exchange Commission (SEC) and available on the SEC website at https://www.sec.gov/. Additional factors may be

described in those sections of Aldeyra's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, expected to be filed

with the SEC in the third quarter of 2025, and Aldeyra's other filings with the SEC.

In addition to the risks described above and in Aldeyra's other filings

with the SEC, other unknown or unpredictable factors also could affect Aldeyra's results. No forward-looking statements can be guaranteed

and actual results may differ materially from such statements. The information in this release is provided only as of the date of this

release, and Aldeyra undertakes no obligation to update any forward-looking statements contained in this release on account of new information,

future events, or otherwise, except as required by law.

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