COMP <GO>

ALDX vs EDSA // 10Y YIELD & FRED MACRO BETA

Aldeyra Therapeutics Inc. (NASDAQ) VS. Edesa Biotech Inc. (NASDAQ) • 15-METRIC TALLY: ALDX 1 — EDSA 2

■ METRIC PARITY

LAST: $0.58 (+4.09%) • MKT CAP: $33.8M

macro-sensitivity

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LAST: $2.44 (-5.06%) • MKT CAP: $34.7M

macro-sensitivity

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15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (ALDX VS. EDSA) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	ALDX	EDSA	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC)	-35.00%	-35.00%	0.00	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	-20.08%	—	TIE	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	—	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	4/9	1/9	+3.00	ALDX	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	30.6	34.9	-4.30	EDSA	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta ACTIVE	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$33.8M	$34.7M	-$903.7K	EDSA	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	ALDX REV	EDSA REV	ALDX GROSS %	EDSA GROSS %	ALDX FCF	EDSA FCF
FY 2025	$98.7M	$22.2M	—	—	-$33.3M	-$7.3M
FY 2024	$168.3M	$19.6M	—	—	-$43.2M	-$4.9M
FY 2023	$119.8M	$25.8M	—	—	-$30.3M	-$6.6M

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

ALDX // BETA —

EDSA // BETA —