Aldeyra The
ALDXHealthcare|Biotechnology|US
$0.63
+0.02 (+2.89%)
DCF Value
$0.91
Tangible Book / Share
$583613.00
Cash / Share
$678933.24
Financials
Financial Snapshot
Market Cap
$38.2M
Enterprise Value
-$40516.24B
Revenue (TTM)
$0.00
Net Income (TTM)
-$3762.98B
Cash & Investments
$40974.98B
Net Cash
$40516.28B
Free Cash Flow (TTM)
-$13824.02B
Operating CF (TTM)
-$13824.02B
Debt/Equity
0.01
Cash Runway & Burn Rate
Cash on Hand
$40974.98B
Quarterly Burn
$3456.00B
Monthly Burn
$1152.00B
Est. Runway
~11.9 quarters
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $24.9M | $42.9M | $93.6M | $73.4M | $77.9M | $229.8M | $174.3M | $142.8M | $101.2M | $70.0M | $40974.98B | |
| Operating Cash Flow | -$15.1M | -$19.2M | -$29.9M | -$45.0M | -$37.5M | -$42.6M | -$56.6M | -$30.3M | -$43.2M | -$33.3M | -$13824.02B | |
| Free Cash Flow | -$15.2M | -$19.2M | -$30.1M | -$45.0M | -$37.5M | -$42.6M | -$56.7M | -$30.3M | -$43.2M | -$33.3M | -$13824.02B | |
| Capital Expenditure | -$11.8K | -$24.8K | -$263.0K | -$9.5K | $0.00 | -$7.8K | -$16.3K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Financing Cash Flow | $12.7M | $37.4M | $80.5M | $23.6M | $41.9M | $194.5M | $1.2M | -$1.3M | -$171.4K | $1.1M | -$15219.17B |
R&D Spending
R&D (TTM)
$1837.40B
R&D Intensity
—
R&D Growth vs Prior
+7159665.3%
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| R&D Expense | $13.2M | $16.3M | $29.8M | $44.4M | $24.7M | $44.9M | $47.3M | $29.5M | $48.2M | $25.7M | $1837.40B | |
| SG&A | $5.5M | $6.2M | $9.9M | $12.2M | $10.0M | $11.3M | $15.4M | $13.3M | $11.9M | $9.6M | $3436.23B |
Income Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Cost of Revenue | $0.00 | $37.8K | $71.0K | $96.3K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $66.6K | |
| Gross Profit | -$35.8K | -$37.8K | -$71.0K | -$96.3K | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$66.6K | |
| R&D | $13.2M | $16.3M | $29.8M | $44.4M | $24.7M | $44.9M | $47.3M | $29.5M | $48.2M | $25.7M | $1837.40B | |
| SG&A | $5.5M | $6.2M | $9.9M | $12.2M | $10.0M | $11.3M | $15.4M | $13.3M | $11.9M | $9.6M | $3436.23B | |
| Operating Income | -$18.7M | -$22.5M | -$39.7M | -$63.1M | -$36.4M | -$56.2M | -$62.7M | -$42.8M | -$60.1M | -$35.3M | -$4136.29B | |
| Interest Expense | $105.5K | $113.5K | $146.8K | $603.8K | $1.9M | $1.7M | $1.7M | $2.1M | $1.9M | $1.9M | -$437.1M | |
| Pretax Income | -$18.7M | -$22.3M | -$38.9M | -$62.1M | -$38.0M | -$57.8M | -$62.0M | -$37.5M | -$55.9M | -$33.8M | -$3762.98B | |
| Net Income | -$18.7M | -$22.3M | -$38.9M | -$60.8M | -$37.6M | -$57.8M | -$62.0M | -$37.5M | -$55.9M | -$33.8M | -$3762.98B | |
| EPS (Diluted) | -1.65 | -1.40 | -1.79 | -2.24 | -1.11 | -1.07 | -1.06 | -0.64 | -0.94 | -0.56 | -0.32 | |
| EBITDA | -$18.6M | -$22.2M | -$38.7M | -$61.4M | -$34.3M | -$55.8M | -$60.1M | -$35.2M | -$53.7M | -$31.7M | -$4136.29B | |
| Shares Out. (M) | 11.35 | 15.92 | 21.69 | 27.11 | 33.97 | 54.04 | 58.41 | 58.94 | 59.48 | 60.06 | 60.35 |
Balance Sheet
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $12.0M | $20.0M | $47.4M | $44.4M | $77.9M | $229.8M | $144.4M | $142.8M | $54.5M | $70.0M | $40974.98B | |
| Short-Term Investments | $12.9M | $22.9M | $46.2M | $28.9M | $0.00 | $0.00 | $29.9M | $0.00 | $46.6M | $0.00 | $0.00 | |
| Total Current Assets | $25.1M | $44.0M | $94.8M | $75.2M | $83.1M | $232.8M | $181.0M | $147.8M | $104.1M | $71.8M | $42918.80B | |
| Total Assets | $25.2M | $44.2M | $95.1M | $75.5M | $83.4M | $233.1M | $181.3M | $148.3M | $104.6M | $72.1M | $43381.91B | |
| Total Current Liabilities | $2.3M | $3.4M | $8.5M | $12.9M | $12.4M | $11.8M | $15.4M | $22.3M | $18.6M | $27.8M | $7879.58B | |
| Long-Term Debt | $1.2M | $1.2M | $0.00 | $14.5M | $11.4M | $15.5M | $14.9M | $0.00 | $15.0M | $0.00 | $280.12B | |
| Total Liabilities | $3.5M | $4.6M | $8.5M | $27.4M | $23.8M | $27.4M | $30.3M | $28.5M | $33.6M | $27.8M | $8159.70B | |
| Stockholders' Equity | $21.6M | $39.6M | $86.6M | $48.1M | $59.5M | $205.7M | $151.0M | $119.8M | $71.0M | $44.3M | $35222.21B | |
| Retained Earnings | -$77.3M | -$99.6M | -$138.5M | -$199.4M | -$236.9M | -$294.7M | -$356.7M | -$394.3M | -$450.1M | -$484.0M | -$496623.11B |
Cash Flow Statement
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$15.1M | -$19.2M | -$29.9M | -$45.0M | -$37.5M | -$42.6M | -$56.6M | -$30.3M | -$43.2M | -$33.3M | -$13824.02B | |
| Capital Expenditure | -$11.8K | -$24.8K | -$263.0K | -$9.5K | $0.00 | -$7.8K | -$16.3K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Free Cash Flow | -$15.2M | -$19.2M | -$30.1M | -$45.0M | -$37.5M | -$42.6M | -$56.7M | -$30.3M | -$43.2M | -$33.3M | -$13824.02B | |
| Investing Cash Flow | -$225.2K | -$10.2M | -$23.3M | $18.5M | $29.0M | -$7.8K | -$30.0M | $30.0M | -$44.9M | $47.7M | -$23.08B | |
| Financing Cash Flow | $12.7M | $37.4M | $80.5M | $23.6M | $41.9M | $194.5M | $1.2M | -$1.3M | -$171.4K | $1.1M | -$15219.17B | |
| Issuance of Stock | $12.7M | $37.6M | $81.8M | $7.9M | $40.7M | $189.8M | $1.2M | $305.2K | $121.1K | $1.1M | $0.00 | |
| Repurchase of Stock | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $0.00 | $14.4M | $0.00 | $0.00 | $0.00 | -$1.0M | -$292.5K | $0.00 | -$15.3M | |
| Stock Based Comp. | $2.8M | $2.7M | $4.1M | $8.1M | $7.1M | $7.1M | $8.3M | $5.8M | $8.0M | $6.1M | $1769.55B | |
| Net Change in Cash | -$2.6M | $8.0M | $27.3M | -$2.9M | $33.4M | $151.9M | -$85.4M | -$1.6M | -$88.3M | $15.5M | $40974.92B |
Dilution Tracker
Shares outstanding grew 76.8% over 5 years — significant dilution
Shares Outstanding
60M
5-Year Share Growth
+76.8%
Stock Issuance (TTM)
$0.00
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 11.35 | 15.92 | 21.69 | 27.11 | 33.97 | 54.04 | 58.41 | 58.94 | 59.48 | 60.06 | 60.35 | |
| Change vs Prior % | — | 40.3% | 36.2% | 25.0% | 25.3% | 59.1% | 8.1% | 0.9% | 0.9% | 1.0% | 0.5% | |
| Stock Issuance | $12.7M | $37.6M | $81.8M | $7.9M | $40.7M | $189.8M | $1.2M | $305.2K | $121.1K | $1.1M | $0.00 | |
| Stock Repurchase | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $2.8M | $2.7M | $4.1M | $8.1M | $7.1M | $7.1M | $8.3M | $5.8M | $8.0M | $6.1M | $1769.55B |
Margins & Profitability
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE % | -86.4% | -56.4% | -44.9% | -126.5% | -63.1% | -28.1% | -41.1% | -31.3% | -78.7% | -76.5% | -42.7% | |
| ROA % | -74.2% | -50.6% | -40.9% | -80.5% | -45.1% | -24.8% | -34.2% | -25.3% | -53.4% | -47.0% | -8.7% | |
| ROIC % | -81.4% | -54.9% | -45.8% | -98.3% | -48.1% | -25.4% | -37.5% | -30.3% | -69.7% | -59.0% | -11.6% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | -90.6% | -5.7% | -87.6% | -35.6% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | -55.9% | -20.3% | -76.5% | -58.9% | 42.3% | -54.4% | -11.5% | 31.7% | -40.5% | 41.3% | |
| Net Income | -54.7% | -19.5% | -74.1% | -56.4% | 38.3% | -53.8% | -7.4% | 39.5% | -48.8% | 39.4% | |
| EPS (Diluted) | -17.9% | 15.2% | -27.9% | -25.1% | 50.4% | 3.6% | 0.9% | 39.6% | -46.9% | 40.4% | |
| Operating Cash Flow | -62.7% | -26.9% | -55.3% | -50.7% | 16.7% | -13.5% | -33.1% | 46.5% | -42.5% | 22.8% | |
| Free Cash Flow | -61.3% | -27.0% | -56.5% | -49.4% | 16.7% | -13.5% | -33.1% | 46.5% | -42.5% | 22.8% | |
| R&D Expense | 74.0% | 23.7% | 82.9% | 48.7% | -44.4% | 82.1% | 5.3% | -37.7% | 63.7% | -46.8% | |
| SG&A Expense | 25.0% | 12.1% | 59.7% | 23.1% | -17.8% | 13.0% | 36.3% | -13.3% | -10.8% | -19.3% | |
| Total Assets | -10.7% | 75.4% | 115.3% | -20.6% | 10.4% | 179.7% | -22.2% | -18.2% | -29.5% | -31.1% | |
| Book Value / Share | -33.8% | 30.4% | 60.6% | -55.6% | -1.2% | 117.3% | -32.1% | -21.4% | -41.3% | -38.3% | |
| Debt | 2.1% | 1.5% | -100.0% | 0.0% | 3.9% | 3.5% | 1.4% | -2.7% | -2.3% | 1.5% | |
| Diluted Shares | 31.5% | 40.3% | 36.2% | 25.0% | 25.3% | 59.1% | 8.1% | 0.9% | 0.9% | 1.0% |
Valuation
P/E (TTM)At Loss
P/S0.00
P/B0.00
10Y Low / Med / High1.05 / 2.81 / 7.03
EV/EBITDA9.80
EV/Revenue0.00
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.91
Tangible Book / Share
$583613.00
Net Current Assets / Share
$576183.89
Graham Net-Net
$543731.48
Cash / Share
$678933.24
| Metric | Trend | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -3.24 | -4.86 | -4.64 | -2.59 | -6.18 | -3.74 | -6.57 | -5.48 | -5.31 | -9.25 | -2.00 | |
| P/S Ratio | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| P/B Ratio | 2.81 | 2.73 | 2.08 | 3.28 | 3.92 | 1.05 | 2.69 | 1.73 | 4.18 | 7.03 | 0.00 | |
| EV/EBITDA | -2.70 | -4.04 | -3.43 | -2.08 | -4.97 | -0.04 | -4.63 | -2.26 | -4.80 | -8.10 | 9.80 | |
| EV/Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
Analyst Estimates & Quality
Altman Z-Score
-15.37
Distress
Piotroski F-Score
1
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $1.3M | $8.4M | $26.8M |
| Net Income | -$20.5M | -$16.7M | -$10.2M |
| EPS | $-0.34 | $-0.28 | $-0.14 |
| # Analysts (EPS) | 3 | 3 | 2 |