Aerie Pharmaceuticals, Inc’s (AERI) Rhopressa is Particularly Well Positioned for Japan Entry - Analyst
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Earlier today, Aerie Pharmaceuticals, Inc. (NASDAQ: AERI), reported positive topline results for the Company’s Phase 3 clinical trial in Japan evaluating netarsudil ophthalmic solution 0.02% (“netarsudil 0.02%”) versus ripasudil hydrochloride hydrate ophthalmic solution 0.4% (“ripasudil 0.4%”). The results showed that netarsudil 0.02% once daily was superior to ripasudil 0.4% twice daily in lowering intraocular pressure (“IOP”) at week four (p<0.0001), the primary endpoint for the study.
Reacting to the news, Stifel analyst Annabel Samimy notes that “With these compelling head-to-head results, Rhopressa is well-positioned to take the low-hanging fruit of ripasudil’s current market share (5%) and even move beyond given ROCK inhibitor acceptance in Japan, a market where low-tension glaucoma dominates.”
She believes that “backed by Santen’s large commercial footprint, this moves AERI another step closer to global expansion.”
Stifel reiterates a “BUY” rating on Aerie Pharmaceuticals and a $30 Price target.
Shares of AERI are trading nearly 2% lower.
Written by Vlad Schepkov | Vlad@StreetInsider.comAerie Pharma (NASDAQ: AERI)
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