Aerie Reports Initial Rhopressa Phase III Efficacy Results

Conference Call and Webcast Today, April 23 at 5:00 p.m. ET

IRVINE, Calif. & BEDMINSTER, N.J. & RESEARCH TRIANGLE PARK, N.C.--(BUSINESS WIRE)--Aerie Pharmaceuticals, Inc. (NASDAQ:AERI), a 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, today reported the results of its first Phase 3 registration trial (Rocket 1) for Rhopressa^TM, a novel once-daily, triple-action eye drop being tested for its ability to lower intraocular pressure (IOP) in patients with glaucoma or ocular hypertension. The trial did not meet its primary efficacy endpoint of demonstrating non-inferiority of IOP lowering for once-daily Rhopressa^TM compared to twice-daily timolol, the most widely used comparator in registration trials for glaucoma. However, Rhopressa^TM demonstrated non-inferiority compared to timolol for patients in the study with IOP below 26 millimeters of mercury (mmHg) at all nine measured time points and numerical superiority over timolol at the majority of measured time points. As discussed below, approximately 80% of glaucoma patients have IOP of 26mmHg or less at the time of diagnosis. Management will host a conference call to discuss these results at 5:00 p.m. ET today.

Triple-Action Rhopressa^TM Phase 3 Highlights for Rocket 1

• Rhopressa^TM did not meet its primary efficacy endpoint of demonstrating non-inferiority of IOP lowering for Rhopressa^TM compared to twice-daily timolol, based upon IOP measurements at the end of week 2, week 6 and day 90. The Rocket 1 study included 182 patients in the Rhopressa^TM once-daily arm and 188 patients in the timolol twice-daily arm. The baseline IOPs tested in the study ranged from above 20 to below 27 mmHg. In addition, the results showed a slight loss of efficacy in the week 6 and day 90 measurements. Across the Rhopressa^TM study of 182 patients, 36 patients or approximately 20 percent showed signs of loss of efficacy during the study. The primary adverse event was hyperemia, which was experienced by approximately 35 percent of the Rhopressa^TM patients, of which 80 percent was reported as mild.
• Based on further analysis, Rhopressa^TM demonstrated non-inferiority compared to timolol for patients in the study with IOPs below 26mmHg at all nine measured time points and numerical superiority over timolol at the majority of measured time points. The Baltimore Eye Survey points to approximately 80 percent of newly diagnosed glaucoma patients having IOPs of 26mmHg or less. In addition, Rhopressa^TM demonstrated, in a pre-specified analysis, non-inferiority to timolol and numerical superiority over timolol at all nine measured time points for patients in the study with IOPs below 24mmHg. We also noted that the number of Rhopressa^TM patients that experienced loss of efficacy over time was reduced to half for patients with IOPs less than 26mmHg, and the frequency of such occurrence progressively decreased for Rhopressa^TM patients with lower IOPs.

“We are obviously disappointed that we missed the primary endpoint for Rocket 1. We expected Rhopressa^TM to demonstrate better performance based on the results we saw in the previous Phase 2b studies. However, if we had set the high end of the baseline range just one mmHg less, we would have demonstrated non-inferiority compared to timolol at all nine measured time points and numerical superiority at the majority of time points. We believe Rhopressa^TM shows great promise at IOPs where the majority of patients are represented. Also, we believe the meaningful decrease in the number of patients that experienced efficacy loss at the lower baseline IOPs supports the potential benefit of the Rhopressa^TM on episcleral venous pressure,” said Vicente Anido, Jr., Ph.D., Chairman and Chief Executive Officer of Aerie.

Dr. Anido continued, “We look forward to our Rocket 2 efficacy results expected in the third quarter and twelve month safety results expected by the end of 2015. Rocket 2 results are expected to inform our future strategies, including the potential need for an additional Rhopressa^TM Phase 3 registration trial. In addition, we are well prepared to commence the quadruple-action Roclatan^TM Phase 3 trials later in 2015. As of the end of the first quarter 2015, we had over $179 million of cash and investments on our balance sheet, and are well-financed to proceed with our key strategies.”

Triple-Action Rhopressa™

Rhopressa^TM is a novel triple-action eye drop that we believe, if approved, would become the only once-daily product available that specifically targets the trabecular meshwork, the eye’s primary fluid drain and the diseased tissue responsible for elevated IOP in glaucoma. Preclinical results have demonstrated that Rhopressa^TM also lowers episcleral venous pressure, which contributes approximately half of IOP in healthy subjects. Further, Rhopressa^TM provides an additional mechanism that reduces fluid production in the eye and therefore lowers IOP. Biochemically, Rhopressa^TM is known to inhibit both Rho Kinase (ROCK) and norepinephrine transporter (NET).

There are three Phase 3 registration trials for Rhopressa^TM, “Rocket 1,” a 90-day efficacy trial, the results of which are reported in this press release, “Rocket 2,” a 12-month safety trial with a 90-day interim efficacy readout expected third quarter 2015, and “Rocket 3,” a safety-only study being conducted in Canada. Pending successful results from the remaining Phase 3 registration trials and a potential additional Phase 3 registration trial for Rhopressa^TM, the Company expects to submit a New Drug Application filing by the end of 2016.

Conference Call / Web Cast Information

Aerie management will host a live conference call and webcast at 5:00 p.m. Eastern Time today to discuss the Rhopressa^TM Phase 3 efficacy results from Rocket 1.

The live webcast and a replay may be accessed by visiting Aerie's website at http://investors.aeriepharma.com. In addition, a presentation regarding the Rhopressa^TM Rocket 1 results will be discussed on the conference call and posted to the website. Please connect to the Company’s website at least 15 minutes prior to the live webcast to ensure adequate time for any software download that may be needed to access the webcast. Alternatively, please call (888) 734-0328 (U.S.) or (678) 894-3054 (international) to listen to the live conference call. The conference ID number for the live call is 33582962. Please dial in approximately 10 minutes prior to the call. Telephone replay will be available approximately two hours after the call. To access the replay, please call (855) 859-2056 (U.S.) or (404) 537-3406 (international). The conference ID number for the replay is 33582962. The telephone replay will be available until April 29, 2015.

About Aerie Pharmaceuticals, Inc.

Aerie is a 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 is conducting a Phase 3 registration trial in the United States, named “Rocket 2,” where the primary efficacy endpoint will be to demonstrate non-inferiority of IOP lowering for Rhopressa^TM compared to timolol, along with a Phase 3 registration safety-only trial, named “Rocket 3,” in Canada. The Company recently completed its initial Phase 3 registration trial, “Rocket 1,” the three-month efficacy results of which are reported in this press release. The Company also completed a Phase 2b clinical trial in which Roclatan^TM met the primary efficacy endpoint, demonstrating the statistical superiority of Roclatan^TM to each of its components.

Forward-Looking Statements

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