$Aldeyra Therapeutics(ALDX)$ Thinly traded micro cap Aldeyra Therapeutics (NASDAQ:ALDX) slumps premarket on increased volume in response to results from the first phase of a two-part Phase 3 clinical trial, RENEW, evaluating topical ophthalmic solution reproxalap, an aldehyde trap, in patients with moderate-to-severe dry eye disease.The company says the objective of Part 1 was confirming the dosing regimen, endpoints and sample size for Part 2, expected to start in H1 2020.Part 1 data showed activity compared to vehicle (placebo) for the induction-maintenance dosing regimen, apparently more robust than the constant dosing group (induction-maintenance regimen will be advanced to Part 2).In the induction-maintenance dosing arm, RENEW met one primary endpoint, patient-reported ocular dryness score from weeks 2 - 12, but failed to achieve the other, fluorescein nasal region staining score from weeks 2 - 12 (cherry-picked data showed a statistically valid effect during weeks 1 - 4 and at week 2).