On December 21, 2023, Aldeyra Therapeutics Announce That AbbVie Extended Exercise Period During Which It May Exercise Option To Enter License Agreement By Paying Non-refundable Payment Of $5M

Author: Benzinga Newsdesk | December 21, 2023 05:19pm

As a result of the Exercise Period Extension, AbbVie may exercise the Option by delivering written notice to Aldeyra at any time during the period following the Effective Date until the earlier of (a) the tenth (10th) business day after the date, if any, that Aldeyra receives approval from the U.S. Food and Drug Administration of its new drug application for reproxalap in dry eye disease and (b) the date that is eighteen (18) months after the Effective Date. If the License Agreement is entered into, the Option Extension Fee will be credited against the upfront cash payment payable by AbbVie.

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