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News Breaks
July 3, 2014
06:50 EDTAERIAerie Pharmaceuticals initiated with a Buy at Canaccord
Target $40.
News For AERI From The Last 14 Days
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October 2, 2015
06:20 EDTAERIAerie Pharmaceuticals pullback a buying opportunity, says Brean Capital
Brean Capital analyst Difei Yang views the recent pullback in shares of Aerie Pharmaceuticals as a buying opportunity. After speaking to clients and company management, Yang sees no potential issues to warrant the recent selloff. The analyst points out that the company has more than $150M in cash, enough to support operations until 2017, making a capital raise very unlikely. Yang has a Buy rating on Aerie with a $48 price target.
September 25, 2015
17:14 EDTAERIIsrael Englander reports 9.1% passive stake in Aerie Pharmaceuticals
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16:30 EDTAERIAdage Capital reports 5.84% passive stake in Aerie Pharmaceuticals
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September 24, 2015
06:32 EDTAERIAerie Pharmaceuticals begins fourth Phase 3 clinical trial of Rhopressa
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September 22, 2015
06:19 EDTAERIClinton to roll out plan to rein in prescription drug costs, USA Today reports
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September 21, 2015
14:04 EDTAERIClinton vow to end drug price gouging sinks biotechs
Biotech stocks have declined across the board in afternoon trading following a tweet by Presidential candidate Hillary Clinton criticizing the "outrageous" prices of specialty drugs. TURING STEPS UP PRICING: Clinton's tweet directly referenced Turing Pharmaceuticals' Daraprim treatment for toxoplasmosis, which recently had its price hiked from just $13.50 per pill to $750 after the privately-held company acquired the drug from Impax Laboratories (IPXL). Importantly, Daraprim was first approved by the FDA in 1953 and its patents have long since expired. No generic versions of the drug currently exist, perhaps in part due to Turing executive chairman Martin Shkreli's strategy of tightly controlling distribution, according to a New York Post article on the issue. In a Bloomberg TV interview this morning, Shkreli claimed that the drug remains underpriced compared to what he called its peers in the rare disease space. However, note that a World Health Organization analysis from 2013 reported that over 190,000 cases of toxoplasmosis occur globally every year and Daraprim continues to be listed on the organization's list of essential medicines for a basic health-care system. INDUSTRY CRITICISM: Turing's Daraprim pricing prompted a response from the Infectious Diseases Society of America and the HIV Medicine Association, which criticized the "unjustifiable" new cost of the drug and urged a "rational" pricing strategy. The news surrounding Daraprim also comes on the heels of Presidential candidate Bernie Sanders issuing a letter in August to Valeant (VRX) and Hospira (HSP), in which he requested information on the "enormous" price increases of two drugs Valeant acquired earlier in the year. REPUBLICAN CONGRESS: In a research note released this afternoon, RBC Capital analyst Michael Yee reminded investors that Republicans still control Congress, offering a sobering reminder that campaign trail promises often fall by the wayside once the candidate steps into office. Yee explained that, though drug pricing debates during next year's election will probably generate headline risk for the biotech space, the Republican-controlled Congress is unlikely to sign into law any material changes on the issue. BIOTECH STOCK ACTION: Hillary Clinton's promise to "lay out a plan" tomorrow to tackle "price gouging" in the specialty drug market sent numerous biotech stocks plunging. Aerie Pharmaceuticals (AERI) has crashed 12.6% at time of writing, while Retrophin (RTRX), Ultragenyx (RARE), and PTC Therapeutics (PTCT) are down 14.7%, 13.4%, and 11%, respectively. Biotech giants AbbVie (ABBV), Gilead (GILD), Bristol-Myers Squibb (BMY) and Biogen (BIIB) have also slipped in intraday trading, while the NASDAQ Biotechnology index is down roughly 4%.
06:30 EDTAERIAerie Pharmaceuticals initiates first Phsae 3 registration trial of ReclatanTM
Aerie Pharmaceuticals announced that on September 18, dosing commenced of the first patients enrolled in Mercury 1, the company's first Phase 3 registration trial of RoclatanTM, a novel once-daily, quadruple-action eye drop being tested for its ability to lower intraocular pressure in patients with glaucoma or ocular hypertension. Aerie anticipates total enrollment of approximately 690 patients in this three-arm one-year safety study with a 90-day efficacy readout. RoclatanTM, which is a fixed-dose combination of Aerie's product candidate RhopressaTM and latanoprost, the market leading prostaglandin analogue, demonstrated in its successful Phase 2b clinical trial in 2014 that it has the potential to be the most efficacious therapy for patients with glaucoma and ocular hypertension. The clinical endpoint of Mercury 1 is similar to the efficacy endpoint in the Company's previous Phase 2b clinical trial and compares RoclatanTM for superiority over each of its two components, with all three arms dosed once daily. The range for the primary endpoint evaluates patients with maximum baseline IOPs ranging from above 20 to below 36 mmHg. The 90-day efficacy results of this study are expected to be reported in approximately one year.

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