Update
$Aldeyra Therapeutics(ALDX.US$ • AbbVie (NYSE:ABBV) has extended the period during which it can exercise an option for a co-development, co-commercialization and license agreement with Aldeyra Therapeutics (NASDAQ:ALDX) for dry eye candidate reproxalap.
• As a result, AbbVie (ABBV) is paying a non-refundable $5M option extension fee.
• The original option agreement was signed in late October.
• AbbVie (ABBV) now can exercise its option by the earlier of (a) the 10th business day after the date that Aldeyra (ALDX) receives U.S. FDA approval for reproxalap; and (b) 18 months after the effective date of the extension agreement.![]()
• As a result, AbbVie (ABBV) is paying a non-refundable $5M option extension fee.
• The original option agreement was signed in late October.
• AbbVie (ABBV) now can exercise its option by the earlier of (a) the 10th business day after the date that Aldeyra (ALDX) receives U.S. FDA approval for reproxalap; and (b) 18 months after the effective date of the extension agreement.
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