Aerie Pharmaceuticals, Inc. is an early-stage biotechnology company developing a glaucoma medication called Rhopressa. In the second quarter, Aerie reported results from the first of two pivotal Phase 3 trials. While various data cuts showed potential and the drug undeniably lowered ocular pressure, the primary endpoint of non-inferiority to Timolol was not met, and shares fell sharply. We exited our position. (Josh Riegelhaupt)
From Baron Funds’ second quarter 2015 commentary.
