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LONDON, UK / ACCESSWIRE / August 2, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Aerie Pharmaceuticals, Inc. (NASDAQ: AERI) ("Aerie"), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/'symbol=AERI. The Company announced on July 31, 2017, that it has signed a collaborative agreement with DSM, to license DSM's bio-erodible polymer implant technology for evaluating its application to the delivery of certain Aerie's compounds, initially focused on retinal diseases. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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Preclinical experiments have demonstrated the early success of using DSM's technology in conjunction with Aerie's compounds, including a demonstration of linear sustained elution rates over several months and achievement of target retinal drug concentrations.
Chief Executive Officer's View
Vicente Anido, Jr., Ph.D., Chairman and Chief Executive Officer at Aerie, stated:
"A key to unlocking the potential of AR-13154 and related Aerie-owned compounds for the treatment of retinal diseases is the identification of the appropriate technology to achieve longer-term sustained delivery of our small molecules to the back of the eye. We are hopeful that DSM's PEA technology may prove to be that technology."
AR-13154 is an Aerie-owned small molecule preclinical product candidate which inhibits Rho kinase and Protein kinase C and thus addresses vascular dysfunction, fibrosis, and inflammation.
Terms of the Agreement
The terms of the collaborative agreement were not disclosed by any of the companies.
Public Offering of Aerie's Common Stock
As per the release, on May 26, 2017, Aerie announced a registered underwritten public offering of $50 million of shares of its common stock. Cantor Fitzgerald & Co. served as the sole book-runner for the offering.
The net proceeds of the offering are intended to be used for general corporate purposes, including fund expansion of its commercialization programs in North America for both Rhopressa and Roclatan, its potential preclinical and clinical activities for pipeline therapy and delivery technology opportunities for the Company's clinical and commercialization efforts beyond North America, and manufacturing activities, including the construction of its manufacturing plant and the addition of secondary contract manufacturers, for working capital and potentially for the expansion of the Company's external business development programs.
About Aerie Pharmaceuticals, Inc.
Aerie Pharmaceuticals is a publicly traded, 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. The Company's primary product candidates are Rhopressa and Roclatan. Aerie is headquartered in Irvine, California.
About DSM
Royal DSM is a global science-based company active in health, nutrition and materials. DSM delivers innovative solutions that nourish, protect, and improve performance in global markets such as food and dietary supplements, personal care, feed, medical devices, automotive, paints, electrical and electronics, life protection, alternative energy, and bio-based materials. DSM and its associated companies deliver annual net sales of about €10 billion with approximately 25,000 employees. The company is listed on Euronext Amsterdam.
Last Close Stock Review
At the closing bell, on Tuesday, August 01, 2017, Aerie Pharma's stock slipped 2.49%, ending the trading session at $52.95. A total volume of 749.06 thousand shares have exchanged hands, which was higher than the 3-month average volume of 600.97 thousand shares. The Company's stock price skyrocketed 25.77% in the last three months, 20.62% in the past six months, and 208.21% in the previous twelve months. Moreover, the stock soared 39.89% since the start of the year. The stock currently has a market cap of $1.83 billion.
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