Aerie Pharma (AERI) Misses Q1 EPS by 14c

Aerie Pharma (NASDAQ: AERI) reported Q1 EPS of ($1.06), $0.14 worse than the analyst estimate of ($0.92). Revenue for the quarter came in at $10.85 million versus the consensus estimate of $13.63 million.

“We are now uniquely positioned with two very exciting glaucoma products in the market. With the recent significant gains in Rhopressa® market access for the Medicare Part D population, we are proud to report that within only one year of launch we were able to achieve extensive coverage both for Medicare Part D and commercially insured lives, which we believe will further stimulate future volume gains. Though just launched, we are seeing strong physician interest in Rocklatan®, and we believe, based on its demonstrated superiority to market-leading latanoprost in clinical trials, that Rocklatan® will generate a significant presence in the U.S. market for years to come. Rocklatan® is the first and only fixed-dose combination product in the United States for the reduction of intraocular pressure that includes a prostaglandin, and the only fixed-dose combination product available in the United States that is dosed once daily. Further, we continue to make excellent progress with our expansion efforts in Europe and Japan and are delighted that by the middle of 2019, we will have our two retinal implant product candidates in the clinic,” said Vicente Anido, Jr., Ph.D., Chairman and Chief Executive Officer.

Dr. Anido continued, “We currently have the highest level of financial liquidity in Aerie history, at approximately $350 million. Based on our current estimates, this is more than we will need to get to break-even and provides us the flexibility to continue to support the growth of our pipeline.”

For earnings history and earnings-related data on Aerie Pharma (AERI) click here.

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