Aerie Pharmaceutical: Missed Earnings

Clinical-stage pharmaceutical company focused on the discovery, development, and commercialization of first-in-class therapies for the treatment of patients with glaucoma and other diseases of the eye, Aerie Pharmaceuticals, Inc. (NASDAQ: AERI), reported financial results for the fourth quarter and full year ended December 31, 2016, along with a general business update.

According to the statement, the company had cash, cash equivalents, and investments of $233.7 million. For the fourth quarter ended December 31, 2016, Aerie reported a net loss attributable to common stockholders, as measured in accordance with U.S. generally accepted accounting principles, of $29.3 million, or $0.87 per share, compared to $20.4 million and $0.76 per share for the fourth quarter of 2015. The weighted average number of shares of common stock outstanding utilized in the calculation of net loss per common share was 33,613,375 and 26,593,158 for the fourth quarters of 2016 and 2015, respectively. Total shares outstanding as of December 31, 2016 were 33,458,607.

“We are off to a great start in 2017, with over $230 million in cash and investments, our Rhopressa™ NDA resubmitted, and our readouts from Rocket 4 and Mercury 2 on track for the second quarter of this year. We also look forward to commencing our first European clinical trial for Roclatan™, known as Mercury 3, in mid-2017,” said Vicente Anido, Jr., Ph.D., Chairman and Chief Executive Officer.

Dr. Anido continued, “Our strategic initiatives, including our ongoing review of drug delivery technologies, our progress in defining our clinical trial path forward in Japan, and the commencement of build-out of our Ireland manufacturing plant, are also all proceeding on plan.”

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