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Aerie Pharmaceuticals shares rocket as investors eye-up drug trial

Its treatment for lowering fluid pressure inside the eyeball had yielded “promising results”.

Close up shot of a human eye ball
Roclatan is being trialled to reduce pressure within the eye

Aerie Pharmaceuticals Inc. (NASDAQ:AERI) shares dominated the risers board on the small-cap Russell 2000 index on Thursday after the company announced successful 90-day primary efficacy data from the first phase III registration study, Mercury 1, on Roclatan.

The drug discovery group reported that its treatment for lowering fluid pressure inside the eyeball had yielded “promising results”.

A late-stage clinical trial showed that its treatment, Roclatan, significantly lowered pressure inside the eyeball compared to rival treatments.

Roclatan is a fixed-dose combination of Aerie’s lead candidate, Rhopressa (netarsudil ophthalmic solution) 0.02% and Pfizer Inc.’s (NYSE:PFE) Xalatan (latanoprost), the most widely-prescribed prostaglandin analogue (PGA).

Roclatan is being evaluated for its ability to lower intraocular pressure in patients with glaucoma or ocular hypertension.

Aerie shares ended up 44.9% at $30.61. Intraday the stock hit $34.69 – its highest level since April 2015.

Quick facts: Aerie Pharmaceuticals

Price: 22.74 USD

NASDAQ:AERI
Market: NASDAQ
Market Cap: $1.05 billion
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