Aerie Pharmaceuticals Raises $125 Million in Public Offerings
September 16 2016 - 6:30AM
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
glaucoma and other diseases of the eye, today announced the pricing
of a registered underwritten public offering of $75 million of
shares of its common stock at a price to the public of $29.50 per
share, before deducting underwriting discounts and commissions and
other estimated offering expenses. The offering was upsized by $25
million over the offering amount anticipated to be sold as
previously announced. This is in addition to $50 million raised
separately through the completion and full utilization of an
at-the-market (ATM) program with Cantor Fitzgerald & Co. filed
prior to market open on September 15, 2016. Total gross proceeds
raised through these offerings were $125 million. The shares sold
through the $50 million ATM program will be issued on or about
September 20, 2016, and the $75 million public offering is expected
to close on or about September 21, 2016, subject to the
satisfaction of customary closing conditions.
Cantor Fitzgerald & Co. is acting as sole bookrunner for the
$75 million public offering and sole manager for the $50 million
ATM program.
Aerie intends to use the net proceeds of the offerings for
general corporate purposes, including the complete funding of
RhopressaTM commercialization costs, execution of clinical trials
in Japan, commencement of construction of a manufacturing plant in
Ireland and continuation of preclinical activity in support of its
product pipeline, along with ongoing working capital
requirements.
Shelf registration statements relating to the shares are
effective with the Securities and Exchange Commission. The shares
in each offering may be offered only by means of a prospectus,
including a prospectus supplement, forming a part of each effective
registration statement. A prospectus supplement relating to the $50
million ATM program and a preliminary prospectus supplement
relating to the $75 million public offering were filed with the
Securities and Exchange Commission on September 15, 2016.
Electronic copies of the preliminary prospectus supplement, the
prospectus supplement and the accompanying prospectuses relating to
the offerings are available on the website of the Securities and
Exchange Commission at www.sec.gov. Copies of the prospectus
supplement relating to the $50 million ATM program and of the
preliminary prospectus supplement and the final prospectus
supplement relating to the $75 million public offering, when
available, and the accompanying prospectuses relating to the
offerings may be obtained by contacting Cantor Fitzgerald &
Co., Attn: Capital Markets, 499 Park Ave., 5th Floor, New York, New
York 10022, or by telephone at 212-829-7122, or by e-mail at
prospectus@cantor.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of Aerie, and shall
not constitute an offer, solicitation or sale of any security in
any state or jurisdiction in which such offer, solicitation or sale
would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
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. Aerie's two lead product candidates are
once-daiIy IOP-lowering therapies with novel mechanisms of action
to treat patients with glaucoma or ocular hypertension. The NDA
filing for RhopressaTM (netarsudil ophthalmic solution) 0.02% was
submitted in the third quarter of 2016. The second product
candidate, RoclatanTM (netarsudil/latanoprost ophthalmic solution)
0.02%/0.005%, which is a fixed dose combination of RhopressaTM and
widely prescribed PGA latanoprost, currently has two Phase 3
registration trials underway, named Mercury 1 and Mercury 2. If
these trials are successful, a RoclatanTM NDA filing is expected to
take place near year-end 2017. Aerie is also focused on the
development of additional product candidates and technologies in
ophthalmology.
Forward-Looking Statements
This press release contains forward-looking statements for
purposes of the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. We may, in some cases, use terms
such as “predicts,” “believes,” “potential,” “proposed,”
“continue,” “estimates,” “anticipates,” “expects,” “plans,”
“intends,” “may,” “could,” “might,” “will,” “should,” “exploring,”
“pursuing” or other words that convey uncertainty of future events
or outcomes to identify these forward-looking statements.
Forward-looking statements include statements regarding our
intentions, beliefs, projections, outlook, analyses or current
expectations concerning, among other things: the success, timing
and cost of our ongoing and anticipated preclinical studies and
clinical trials for our current product candidates, including
statements regarding the timing of initiation and completion of the
studies and trials; our expectations regarding the clinical
effectiveness of our product candidates and results of our clinical
trials; the timing of and our ability to request, obtain and
maintain U.S. Food and Drug Administration or other regulatory
authority approval of, or other action with respect to, our product
candidates; our expectations regarding the commercialization of our
product candidates; our expectations related to the offerings
discussed in this press release, including the completion, timing
and size of the offerings and the use of proceeds therefrom; the
potential advantages of our product candidates; and our plans to
pursue development of our product candidates for additional
indications and other therapeutic opportunities. By their nature,
forward-looking statements involve risks and uncertainties because
they relate to events, competitive dynamics and industry change,
and depend on regulatory approvals and economic circumstances that
may or may not occur in the future or may occur on longer or
shorter timelines than anticipated. We discuss many of these risks
in greater detail under the heading “Risk Factors” in the quarterly
and annual reports that we file with the Securities and Exchange
Commission (SEC). Forward-looking statements are not guarantees of
future performance and our actual results of operations, financial
condition and liquidity, and the development of the industry in
which we operate may differ materially from the forward-looking
statements contained in this press release. Any forward-looking
statements that we make in this press release speak only as of the
date of this press release. We assume no obligation to update our
forward-looking statements whether as a result of new information,
future events or otherwise, after the date of this press
release.
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version on businesswire.com: http://www.businesswire.com/news/home/20160916005146/en/
Aerie PharmaceuticalsRichard Rubino,
908-947-3540rrubino@aeriepharma.comorBurns McClellan, Inc., on
behalf of Aerie PharmaceuticalsInvestorsAmi Bavishi,
212-213-0006abavishi@burnsmc.comorMediaJustin Jackson,
212-213-0006jjackson@burnsmc.com
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