secwatch.observer — SEC 8-K summary
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Issuer:     Aldeyra Therapeutics, Inc. (ALDX)
CIK:        0001341235
Form:       8-K
Filed at:   2023-11-01T23:59:59+00:00
Accession:  0001193125-23-267697
Event type: other_material
Sentiment:  positive
Materiality: 0.75
Item codes: 1.01
LLM model:  deepseek-v4-flash:cloud@v2

Aldeyra grants AbbVie exclusive option to co-develop reproxalap; $1M upfront, $100M upon exercise
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- AbbVie pays $1M non-refundable option fee; can extend option for $5M if FDA decision delayed past Dec 15, 2023.
- Upon exercise, AbbVie pays $100M upfront (less prior payments); Aldeyra eligible for up to ~$300M in regulatory and commercial milestones.
- In the US, profits/losses split 60% AbbVie, 40% Aldeyra; outside US, Aldeyra receives tiered royalties on net sales.
- AbbVie gets right of first negotiation on Aldeyra's other ocular surface compounds and data review rights.
- Option expires Dec 23, 2023 if not exercised or extended; tied to FDA decision on reproxalap NDA.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1341235/000119312523267697/0001193125-23-267697-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1341235/000119312523267697/d857697d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-267697

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer