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Aldeyra (NASDAQ: ALDX) pays off $15M Hercules loan, extends runway

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Aldeyra Therapeutics, Inc. has fully repaid its debt under the Hercules Credit Facility. On April 1, 2026, the company paid off outstanding borrowings of $15 million, and all remaining commitments under the loan agreement were terminated in line with its April 1, 2026 maturity.

The Hercules Credit Facility, originally entered in March 2019, is now fully closed. The company notes that its cash, cash equivalents, and marketable securities as of December 31, 2025 are expected to support operations into 2028, indicating sufficient liquidity after the loan repayment.

Positive

  • Full repayment of Hercules Credit Facility: Aldeyra paid off $15 million of outstanding borrowings on April 1, 2026, eliminating this debt and terminating all remaining commitments under the loan agreement.
  • Multi-year liquidity outlook: The company states that cash, cash equivalents, and marketable securities as of December 31, 2025 are expected to support operations into 2028, indicating an extended funding runway after the debt repayment.

Negative

  • None.

Insights

Aldeyra retires a $15M loan while maintaining projected cash runway into 2028.

Aldeyra repaid $15 million on April 1, 2026, extinguishing all borrowings and commitments under its Hercules Credit Facility, which had a scheduled maturity on the same date. This removes a debt obligation and any related covenants tied to that facility.

The company also reiterates that cash, cash equivalents, and marketable securities as of December 31, 2025 are expected to fund operations into 2028. For a development-stage biotech, combining debt repayment with a multi-year funding runway can reduce financing risk, though actual outcomes will still depend on future spending and pipeline progress.

Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Debt repaid $15 million Outstanding borrowings paid off on April 1, 2026 under Hercules Credit Facility
Facility maturity date April 1, 2026 Stated maturity date of Hercules Credit Facility
Runway guidance Into 2028 Operations expected to be supported by cash, cash equivalents, and marketable securities as of December 31, 2025
Loan agreement date March 25, 2019 Date Aldeyra entered the Loan and Security Agreement with Hercules and lenders
Loan and Security Agreement financial
"entered into that certain Loan and Security Agreement, dated as of March 25, 2019"
A loan and security agreement is a legal contract that sets out the amount, repayment schedule, interest and the rules a borrower must follow, and it names specific assets a lender can claim if the borrower fails to pay. Think of it like a mortgage or car loan where the lender holds a claim on collateral until the debt is repaid. Investors care because it determines a company’s repayment priorities, borrowing costs, operational limits and how easily creditors can seize assets in distress, all of which affect equity value and credit risk.
Hercules Credit Facility financial
"as amended from time to time, the “Hercules Credit Facility”"
maturity date financial
"with a maturity date of April 1, 2026"
The maturity date is the specific day when a loan, bond, or investment reaches its full term and the borrower must repay the borrowed amount in full. It is important for investors because it indicates when they will receive their initial money back and can plan their future financial steps accordingly. Think of it as the due date for a loan or the day a gift card or coupon expires.
marketable securities financial
"cash, cash equivalents, and marketable securities as of December 31, 2025"
Marketable securities are financial assets — such as publicly traded stocks, bonds, and short-term government bills — that a company can quickly sell for cash at a known price. Investors watch them because they show how much ready cash a company can access without selling core operations, like keeping money in a highly liquid savings account versus being tied up in a house, and they affect short-term risk, financial flexibility, and balance-sheet strength.
administrative agent and collateral agent financial
"Hercules Capital, Inc., in its capacity as administrative agent and collateral agent"
Understanding 8-K Material Events →
false0001341235Massachusetts00013412352026-04-012026-04-01

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): April 1, 2026

ALDEYRA THERAPEUTICS, INC.

(Exact name of Registrant as specified in its charter)

 

 

 

 

 

Delaware

001-36332

20-1968197

(State or other jurisdiction

of incorporation)

(Commission

File No.)

(IRS Employer

Identification No.)

131 Hartwell Avenue, Suite 320

Lexington, MA 02421

(Address of principal executive offices and zip code)

Registrant’s telephone number, including area code: (781) 761-4904

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

 

 

 

 

Title of each class

Trading

Symbol(s)

Name of each exchange

on which registered

Common Stock, $0.001 par value per share

ALDX

The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

Item 8.01.

Other Events.

As previously disclosed, Aldeyra Therapeutics, Inc. (“Aldeyra” or the “Company”) entered into that certain Loan and Security Agreement, dated as of March 25, 2019, by and among the Company, Helio Vision, LLC, the several banks and other financial institutions or entities from time to time parties thereto (the “Lenders”) and Hercules Capital, Inc., in its capacity as administrative agent and collateral agent for itself and the Lenders (as amended from time to time, the “Hercules Credit Facility”), with a maturity date of April 1, 2026.

On April 1, 2026, the Company paid off the outstanding borrowings of $15 million, and terminated all outstanding commitments under the Hercules Credit Facility. As a result, the Hercules Credit Facility terminated pursuant to its terms. As previously disclosed, cash, cash equivalents, and marketable securities as of December 31, 2025 are expected to support operations into 2028.

 

 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

ALDEYRA THERAPEUTICS, INC.

 

 

By:

/s/ Todd C. Brady

Name:

Todd C. Brady M.D., Ph.D.

Title:

Chief Executive Officer

Dated April 1, 2026

Source: View Original Filing on SEC EDGAR

FAQ

What loan did Aldeyra Therapeutics (ALDX) repay in April 2026?

Aldeyra fully repaid its outstanding borrowings under the Hercules Credit Facility. On April 1, 2026, the company paid off $15 million, ending all remaining commitments tied to the 2019 Loan and Security Agreement with Hercules and the participating lenders.

How much debt did Aldeyra Therapeutics (ALDX) pay off under the Hercules Credit Facility?

Aldeyra paid off $15 million of outstanding borrowings under the Hercules Credit Facility. This payment on April 1, 2026 coincided with the facility’s stated maturity date, after which the credit agreement and its commitments terminated pursuant to their terms.

When did the Hercules Credit Facility for Aldeyra Therapeutics (ALDX) mature?

The Hercules Credit Facility had a maturity date of April 1, 2026. On that same date, Aldeyra repaid the remaining $15 million outstanding and terminated all commitments, resulting in the facility ending pursuant to its original terms without further extensions disclosed.

Does Aldeyra Therapeutics (ALDX) still have access to the Hercules Credit Facility?

No. After repaying $15 million of outstanding borrowings on April 1, 2026, Aldeyra terminated all outstanding commitments under the Hercules Credit Facility. As a result, the loan agreement is no longer in effect and no further borrowings are available under it.

How long does Aldeyra Therapeutics (ALDX) expect its cash to fund operations?

Aldeyra states that cash, cash equivalents, and marketable securities as of December 31, 2025 are expected to support operations into 2028. This guidance is given even after accounting for the April 1, 2026 repayment of $15 million under the Hercules Credit Facility.

Who was the agent for Aldeyra Therapeutics’ Hercules Credit Facility?

Hercules Capital, Inc. served as administrative agent and collateral agent under the Hercules Credit Facility. It acted on behalf of itself and the other participating lenders in the Loan and Security Agreement initially entered on March 25, 2019 with Aldeyra Therapeutics and Helio Vision, LLC.

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