Aerie Announces $125 Million Convertible Notes
Under the terms of the financing, the notes will be secured and accrue
interest at a rate of 1.75% per annum until maturity in September of
2021. The notes are convertible at a conversion price representing a 30%
premium over the closing price of Aerie stock on
"We believe this level of financing at favorable terms will be
significantly beneficial to Aerie. We now have adequate financial
resources to complete all of our known clinical requirements for
RhopressaTM and RoclatanTM, and to commercialize
RhopressaTM later in 2017 if our trials are successful. This
financing also provides us with flexibility for potential strategic
product in-licenses or acquisitions as we continue to build Aerie into
what we believe may become a major ophthalmic pharmaceutical company. We
are deeply appreciative of Deerfield's confidence in Aerie's product
candidates and growth prospects," commented
This press release shall not constitute an offer to sell or the solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
Aerie is a clinical-stage pharmaceutical company focused on the
discovery, development and commercialization of first-in-class glaucoma
therapies. The Company has commenced two Phase 3 registration trials in
The Company also recently completed a Phase 2b clinical trial for
quadruple-action RoclatanTM, which met the primary efficacy
endpoint, demonstrating statistical superiority of RoclatanTM
to each of its components. RoclatanTM is a fixed-dose
combination of RhopressaTM with latanoprost, the
Deerfield is a leading investment management firm, committed to advancing healthcare through investment, information and philanthropy. For more information, please visit www.deerfield.com.
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" 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 obtain
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