BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith reminds investors of Aerie Pharmaceuticals, Inc. (“Aerie Pharmaceuticals” or the “Company”) (NASDAQ: AERI), who purchased the Company’s securities between August 6, 2014 and April 23, 2015, inclusive (the, “Class Period”) of the June 29, 2015 deadline to file a lead plaintiff motion in the class action lawsuit filed against the Company.
According to the Complaint filed against Aerie Pharmaceuticals, the Company misled investors regarding the potential success of Aerie Pharmaceuticals’ drug candidate, Rhopressa, and its effectiveness in treating glaucoma or ocular hypertension. The Complaint further alleges that the Company made false and misleading statements and/or failed to disclose adverse information regarding the Company’s prospects for Rhopressa, including that Rhopressa was not performing as well as an approved drug, timolol, in clinical studies and would therefore not be approved.
On April 23, 2015, the Company issued a press release announcing the results of its first Phase 3 trial for Rhopressa. According to the release, “[t]he trial did not meet its primary efficacy endpoint of demonstrating non-inferiority of IOP lowering for once-daily RhopressaTM compared to twice-daily timolol, the most widely used comparator in registration trials for glaucoma.” On this news, the price of Aerie Pharmaceuticals stock fell $22.52 per share to close at $12.87 per share on April 24, 2015, a one-day decline of nearly 64%, on exceptionally high volume.
If you purchased shares of Aerie Pharmaceuticals during the Class Period, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at http://www.howardsmithlaw.com.
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