We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Aerie to Acquire Dry Eye Disease-Focused Pharma Avizorex
Read MoreHide Full Article
Aerie Pharmaceuticals, Inc. signed an agreement to acquire privately-held Spanish ophthalmic pharmaceutical company, Avizorex Pharma, to boost its dry eye disease pipeline. Aerie will pay $10 million upfront to Avizorex for the acquisition. Moreover, shareholders of Avizorex are eligible to receive additional payments related to certain clinical and regulatory milestones, plus royalties on net sales of approved products from the company’s development pipeline. The acquisition is expected to be completed by the end of 2019.
Avizorex has completed a phase IIa study on lead pipeline candidate, AVX-012, in patients with dry eye disease. Data from the study were positive and demonstrated the therapeutic potential of AVX-012 to treat signs and symptoms of dry eye. Aerie is planning to initiate a phase IIb study on the candidate in late 2020.
Shares of Aerie have plunged 47.3% so far this year against the industry’s growth of 5.8%.
Notably, Aerie’s lead drug Rhopressa was approved by the FDA for the reduction of elevated IOP in patients with open-angle glaucoma or ocular hypertension and is already available in the United States. A regulatory application for the drug is under review in Europe. In September, the Committee for Medicinal Products for Human Use (CHMP) has rendered a positive opinion recommending its approval. A final decision is expected by the year-end. Upon approval, the drug will be available under the tradename of Rhokiinsa in Europe.
Aerie's second drug Rocklatan, a once-daily, quadruple-action, fixed-dose combination of Rhopressa and Pfizer's (PFE - Free Report) Xalatan, was approved by the FDA in March to lower the elevated IOP in patients with open-angle glaucoma or ocular hypertension.
Aerie plans to submit a marketing authorization application for Rocklatan in Europe following the potential approval of Rhokiinsa in the region.
Meanwhile, we note that though the glaucoma market holds potential, Aerie faces stiff competition from Novartis’ (NVS - Free Report) Simbrinza and Travtan, Allergan’s Lumigan, and other smaller biotechnology and pharmaceutical companies.
Apart from the commercial drugs, Aerie has two early-stage retinal programs in its pipeline — AR-13503 (Rho kinase and Protein kinase C inhibitor implant) and AR-1105 (dexamethasone steroid implant).
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Bigstock
Aerie to Acquire Dry Eye Disease-Focused Pharma Avizorex
Aerie Pharmaceuticals, Inc. signed an agreement to acquire privately-held Spanish ophthalmic pharmaceutical company, Avizorex Pharma, to boost its dry eye disease pipeline. Aerie will pay $10 million upfront to Avizorex for the acquisition. Moreover, shareholders of Avizorex are eligible to receive additional payments related to certain clinical and regulatory milestones, plus royalties on net sales of approved products from the company’s development pipeline. The acquisition is expected to be completed by the end of 2019.
Avizorex has completed a phase IIa study on lead pipeline candidate, AVX-012, in patients with dry eye disease. Data from the study were positive and demonstrated the therapeutic potential of AVX-012 to treat signs and symptoms of dry eye. Aerie is planning to initiate a phase IIb study on the candidate in late 2020.
Shares of Aerie have plunged 47.3% so far this year against the industry’s growth of 5.8%.
Notably, Aerie’s lead drug Rhopressa was approved by the FDA for the reduction of elevated IOP in patients with open-angle glaucoma or ocular hypertension and is already available in the United States. A regulatory application for the drug is under review in Europe. In September, the Committee for Medicinal Products for Human Use (CHMP) has rendered a positive opinion recommending its approval. A final decision is expected by the year-end. Upon approval, the drug will be available under the tradename of Rhokiinsa in Europe.
Aerie's second drug Rocklatan, a once-daily, quadruple-action, fixed-dose combination of Rhopressa and Pfizer's (PFE - Free Report) Xalatan, was approved by the FDA in March to lower the elevated IOP in patients with open-angle glaucoma or ocular hypertension.
Aerie plans to submit a marketing authorization application for Rocklatan in Europe following the potential approval of Rhokiinsa in the region.
Meanwhile, we note that though the glaucoma market holds potential, Aerie faces stiff competition from Novartis’ (NVS - Free Report) Simbrinza and Travtan, Allergan’s Lumigan, and other smaller biotechnology and pharmaceutical companies.
Apart from the commercial drugs, Aerie has two early-stage retinal programs in its pipeline — AR-13503 (Rho kinase and Protein kinase C inhibitor implant) and AR-1105 (dexamethasone steroid implant).
Aerie Pharmaceuticals, Inc. Price
Aerie Pharmaceuticals, Inc. price | Aerie Pharmaceuticals, Inc. Quote
Zacks Rank
Aerie currently carries a Zacks Rank #4 (Sell).
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>