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AERI Aerie Pharmaceuticals

Aerie is an ophthalmic pharmaceutical company focused on the discovery, development and commercialization of first-in-class therapies for the treatment of patients with open-angle glaucoma, ocular surface diseases and retinal diseases. Aerie's first product, Rhopressa® (netarsudil ophthalmic solution) 0.02%, a once-daily eye drop approved by the U.S. Food and Drug Administration (FDA) for the reduction of elevated intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension, was launched in the United States in April 2018. In clinical trials of Rhopressa®, the most common adverse reactions were conjunctival hyperemia, corneal verticillata, instillation site pain, and conjunctival hemorrhage. Aerie's second product for the reduction of elevated IOP in patients with open-angle glaucoma or ocular hypertension, Rocklatan® (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005%, the first and only fixed-dose combination of Rhopressa® and the widely-prescribed PGA (prostaglandin analog) latanoprost, was launched in the United States in May 2019. In clinical trials of Rocklatan®, the most common adverse reactions were conjunctival hyperemia, corneal verticillata, instillation site pain, and conjunctival hemorrhage. Aerie continues to focus on global expansion and the development of additional product candidates and technologies in ophthalmology, including for wet age-related macular degeneration and diabetic macular edema.

AERI stock data

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Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

4 Aug 21
27 Oct 21
31 Dec 21
Quarter (USD)
Jun 21 Mar 21 Dec 20 Sep 20
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Annual (USD)
Dec 20 Dec 19 Dec 18 Dec 17
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Diluted EPS

Financial data from company earnings reports.

Cash burn rate (estimated) Burn method: Change in cash Burn method: Operating income/loss Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 79.96M 79.96M 79.96M 79.96M 79.96M 79.96M
Cash burn (monthly) 14.25M 5.95M 12.89M 13.43M 6.71M 4.18M
Cash used (since last report) 55.72M 23.25M 50.42M 52.51M 26.26M 16.36M
Cash remaining 24.24M 56.7M 29.54M 27.44M 53.7M 63.6M
Runway (months of cash) 1.7 9.5 2.3 2.0 8.0 15.2

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
20 Sep 21 Mcgraw Benjamin F Iii Common Stock Grant Acquire A No No 0 34,513 0 46,063
20 Sep 21 Mcgraw Benjamin F Iii Stock Option Common Stock Grant Acquire A No No 11.59 102,412 1.19M 102,412
14 Aug 21 Christopher Staten Common Stock Payment of exercise Dispose F No No 14.7 877 12.89K 21,710
14 Aug 21 John LaRocca Common Stock Payment of exercise Dispose F No No 14.7 765 11.25K 39,672

Data for the last complete 13F reporting period. To see the most recent changes to ownership, click the ownership history button above.

13F holders
Current Prev Q Change
Total holders 145 158 -8.2%
Opened positions 17 28 -39.3%
Closed positions 30 20 +50.0%
Increased positions 59 44 +34.1%
Reduced positions 44 61 -27.9%
13F shares
Current Prev Q Change
Total value 764.82M 1.18B -35.0%
Total shares 47.86M 47.24M +1.3%
Total puts 19K 280K -93.2%
Total calls 12.4K 158.7K -92.2%
Total put/call ratio 1.5 1.8 -13.2%
Largest owners
Shares Value Change
Vanguard 4.35M $69.64M +2.3%
BLK Blackrock 3.33M $53.35M -6.5%
BAC Bank Of America 2.63M $42.04M -1.3%
William Blair Investment Management 2.19M $35.01M +33.5%
Partner Fund Management 2.18M $34.95M +5.6%
Loomis Sayles & Co L P 1.87M $29.97M -2.0%
MS Morgan Stanley 1.86M $29.85M +6.9%
AMP Ameriprise Financial 1.57M $25.13M -1.3%
Schroder Investment Management 1.4M $22.4M -0.9%
Granahan Investment Management 1.39M $22.22M +19.7%
Largest transactions
Shares Bought/sold Change
Woodline Partners 419.14K -1.74M -80.6%
Levin Easterly Partners 1.35M +1.35M NEW
Candriam Luxembourg S.C.A. 0 -576.5K EXIT
William Blair Investment Management 2.19M +548.63K +33.5%
Rubric Capital Management 0 -480.4K EXIT
Levin Capital Strategies 1.35M +436.3K +47.7%
Jacobs Levy Equity Management 577.83K +377.6K +188.6%
Deerfield Management 825.94K +331.72K +67.1%
M&G Investment Management 285.12K +285.12K NEW
Novo Holdings A/S 555.19K -233.22K -29.6%

Financial report summary

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Risks
  • Healthcare law and policy changes may negatively impact our business, including by decreasing the prices that we and our collaborators receive for our products.
Management Discussion
  • Product revenues, net were $27.2 million and $18.0 million for the three months ended June 30, 2021 and 2020, respectively, and related to sales of our U.S glaucoma franchise products, Rhopressa® or Rocklatan®. The year-over-year revenue increase is primarily due to higher volumes and higher net sales per unit, which was mostly attributable to renegotiating wholesaler agreements. In the second quarter of 2020, there was a decline in total prescription volumes, as seen within the entire pharmaceutical market, according to IQVIA data, primarily due to the impact of the COVID-19 pandemic. To the extent that the impact of the COVID-19 pandemic on the pharmaceutical industry continues to be mitigated, we would expect volumes to increase for the remainder of 2021.
Content analysis
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H.S. junior Avg
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Removed: acquired, highly, obsolescence, Spanish, typically