<span id="midArticle_start"/> (Reuters) - Aerie Pharmaceuticals Inc lost nearly three-quarters of its value after the company said its lead experimental eye drug failed a late-stage study.
<span id="midArticle_0"/>The eye drop, Rhopressa, did not lower pressure inside the eye as much as timolol, a commonly prescribed drug, the company said.
<span id="midArticle_1"/>Increased pressure in the eye is often a sign of glaucoma, a condition that could lead to blindness if left untreated.
<span id="midArticle_2"/>The company's stock fell to $9 in post-market trading after closing at $35.39 during regular hours. Up to Thursday's close, the stock had more than tripled since its listing in October 2013.
<span id="midArticle_3"/>The failure to meet the main goal raised questions about the future of the drug.
<span id="midArticle_4"/>Aerie planned to file an application by mid-2016 to market the drug.
<span id="midArticle_5"/>The drug developer said Rhopressa was as effective as timolol in patients whose eye pressure was between 20 and 26 millimeters of mercury (mmHg).
<span id="midArticle_6"/>But the target was for the drug to be non-inferior to timolol in patients whose eye pressure was as much as 27 mmHg.
<span id="midArticle_7"/>About 80 percent of glaucoma patients have eye pressure of 26 mmHg or less at the time of diagnosis, the company said in a statement.
<span id="midArticle_8"/>Aerie said it plans to start late-stage studies for another eye drug in mid-2015.
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<span id="midArticle_10"/> (Reporting by Vidya L Nathan in Bengaluru; Editing by Saumyadeb Chakrabarty)
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<span id="midArticle_0"/>The eye drop, Rhopressa, did not lower pressure inside the eye as much as timolol, a commonly prescribed drug, the company said.
<span id="midArticle_1"/>Increased pressure in the eye is often a sign of glaucoma, a condition that could lead to blindness if left untreated.
<span id="midArticle_2"/>The company's stock fell to $9 in post-market trading after closing at $35.39 during regular hours. Up to Thursday's close, the stock had more than tripled since its listing in October 2013.
<span id="midArticle_3"/>The failure to meet the main goal raised questions about the future of the drug.
<span id="midArticle_4"/>Aerie planned to file an application by mid-2016 to market the drug.
<span id="midArticle_5"/>The drug developer said Rhopressa was as effective as timolol in patients whose eye pressure was between 20 and 26 millimeters of mercury (mmHg).
<span id="midArticle_6"/>But the target was for the drug to be non-inferior to timolol in patients whose eye pressure was as much as 27 mmHg.
<span id="midArticle_7"/>About 80 percent of glaucoma patients have eye pressure of 26 mmHg or less at the time of diagnosis, the company said in a statement.
<span id="midArticle_8"/>Aerie said it plans to start late-stage studies for another eye drug in mid-2015.
<span id="midArticle_9"/>
<span id="midArticle_10"/> (Reporting by Vidya L Nathan in Bengaluru; Editing by Saumyadeb Chakrabarty)
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