Billionaire Joseph Edelman’s Top 10 Long-Term Stock Picks

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8. Aldeyra Therapeutics, Inc. (NASDAQ:ALDX)

Number of Hedge Fund Holders: 11

Perceptive Advisors’ Stake: $6.1 million

Aldeyra Therapeutics, Inc. (NASDAQ:ALDX) is a biotechnology company devoted to improving lives by inventing, developing, and commercializing next-generation medicines that treat immune-mediated, autoimmune and metabolic diseases. The following factors make Aldeyra Therapeutics a great investment opportunity. First, significant financial growth was seen, as illustrated in the report of the third quarter of 2024, highlighting $122.9 million in cash and cash equivalents. Secondly, innovative projects, like introducing Reproxalap, a new drug application for the treatment of dry eye disease, serve as a great milestone for the company. As per the recent news, the New Drug Application (NDA) for Reproxalap has been accepted for review by the US Food and Drug Administration (FDA), with a Prescription Drug User Fee Act (PDUFA) date set for April 2025. Moreover, the company has expanded its pipeline into retinal diseases through the acquisition of Helio Vision, a company focused on developing therapies for retinal conditions. This initiative will diversify the company’s portfolio.

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