Aldeyra Therapeutics Inc. Common Stock (ALDX)

FairStock Score: 57/100 — STEADY

Key Financials

AI Analysis

AI-generated, general educational analysis — not personal investment advice.

I approach this as a Graham-style asset and earnings man, and Aldeyra does not fit the mold. Filed figures show no reported revenue in the periods I can see. It lost $33.8 million in fiscal 2025, $55.9 million in fiscal 2024, and $37.5 million in fiscal 2023. More recently, the fiscal Q2 2026 quarter ended 2026-06-30 showed a $5.5 million net loss, or $0.09 per diluted share, better than the $9.8 million, or $0.16, loss in fiscal Q2 2025. Fiscal Q1 2026 lost $3.5 million, or $0.06 per share. The improvement is welcome, but the business still burns cash: trailing free cash flow is negative $22.0 million, a negative 40.6% yield against the $54.3 million market cap. The balance sheet has no debt, with D/E of 0.00, which is a genuine plus. But FairStock calculations put Altman Z at -10.19 and Piotroski at 3/9, confirming fragility; ROE is -49.48% and ROCE is -22.70%. At the $0.90 close on 2026-10-13, P/B is 1.43 and P/E is negative 2.37. The Lynch screen finds no category because of losses in each of the last four years. The moat, if any, is intellectual property and clinical data around reproxalap in Phase III for dry eye and allergic conjunctivitis, plus earlier candidates. That is not an economic moat yet. Graham would ask for a margin of safety in assets or earnings. Here, the asset is future pipeline hope, and the price near the 52-week low of $0.86 versus the high of $5.93 reflects that risk.

In plain English: Aldeyra Therapeutics is a small drug company working on treatments for eye and immune diseases. It has no product sales yet and loses money, so the business looks weak on current finances, though losses have been getting smaller and it has no debt. The stock trades at 90 cents, far below its high of $5.93, but without profits it is hard to call cheap; the price depends mostly on whether its drugs succeed.

The full AI analysis, bull and bear case and key monitorables are in FairStock Pro.

Data as of 2026-10-13 close · note generated 2026-10-15 · model deepseek-flash

Sources (SEC EDGAR): fiscal Q2 2026 10-Q (period ended 2026-06-30) · fiscal Q1 2026 10-Q (period ended 2026-03-31) · fiscal Q3 2025 10-Q (period ended 2025-09-30) · fiscal Q2 2025 10-Q (period ended 2025-06-30) · FY2025 10-K (period ended 2025-12-31) · FY2024 10-K (period ended 2024-12-31) · FY2023 10-K (period ended 2023-12-31)

Fundamentals from company filings and market-data providers; prices are end-of-day, not real-time. AI-generated analysis is general and educational — not personal investment advice. Scoring methodology · Score test · Disclaimer