Aerie Pharmaceuticals Announces Appointment of Leon J. Atencia, Director of Regulatory Affairs

Rhea-AI Summary

Aerie Pharmaceuticals, Inc. (NASDAQ:AERI) has appointed Leon J. Atencia as the new Director of Regulatory Affairs, reporting to Emma Beausang. Atencia, who previously held a similar role at Revance Therapeutics, will manage clinical regulatory affairs and pharmacovigilance. As part of his compensation, he will receive 16,900 stock options vesting over four years, approved under Nasdaq Listing Rule 5635(c)(4). This strategic move aims to strengthen Aerie’s regulatory capabilities, critical for its product portfolio, including Rhopressa and Rocklatan.

Positive

• Appointment of a new Director of Regulatory Affairs expected to enhance regulatory oversight.
• Leon J. Atencia brings relevant experience from Revance Therapeutics.
• Stock options granted to Atencia may align his interests with shareholders.

Negative

• Potential concerns regarding continuity and experience gaps in regulatory affairs leadership.

Aerie Pharmaceuticals, Inc. (NASDAQ:AERI), an ophthalmic pharmaceutical company focused on the discovery, development and commercialization of first-in-class therapies for the treatment of patients with open-angle glaucoma, ocular surface diseases and retinal diseases today announced the appointment of Leon J. Atencia, Director of Regulatory Affairs, reporting to Emma Beausang, Aerie’s Vice President of Regulatory Affairs. Mr. Atencia will be responsible for clinical regulatory affairs and oversee post-marketing and pharmacovigilance activities. He most recently held a related position at Revance Therapeutics Inc.

In connection with his acceptance of the position as Director of Regulatory Affairs, Mr. Atencia will receive awards totaling 16,900 stock options that will vest over 4 years, with 25% vesting on the first anniversary of the hire date and the remainder vesting ratably on each of the subsequent 36 monthly anniversaries of the hire date. This award was made outside of Aerie’s stockholder-approved equity incentive plan and was approved by the Company’s independent directors as an inducement material to Mr. Atencia entering into employment with the Company in reliance on Nasdaq Listing Rule 5635(c)(4), which requires this public announcement.

About Aerie Pharmaceuticals, Inc.

Aerie is an ophthalmic pharmaceutical company focused on the discovery, development and commercialization of first-in-class therapies for the treatment of patients with open-angle glaucoma, ocular surface diseases and retinal diseases. Aerie’s first product, Rhopressa^® (netarsudil ophthalmic solution) 0.02%, a once-daily eye drop approved by the U.S. Food and Drug Administration (FDA) for the reduction of elevated intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension, was launched in the United States in April 2018. In clinical trials of Rhopressa^®, the most common adverse reactions were conjunctival hyperemia, corneal verticillata, instillation site pain, and conjunctival hemorrhage. More information about Rhopressa^®, including the product label, is available at www.rhopressa.com. Aerie’s second product for the reduction of elevated IOP in patients with open-angle glaucoma or ocular hypertension, Rocklatan^® (netarsudil and latanoprost ophthalmic solution) 0.02%/0.005%, the first and only fixed-dose combination of Rhopressa^® and the widely-prescribed PGA (prostaglandin analog) latanoprost, was launched in the United States in May 2019. In clinical trials of Rocklatan^®, the most common adverse reactions were conjunctival hyperemia, corneal verticillata, instillation site pain, and conjunctival hemorrhage. More information about Rocklatan^®, including the product label, is available at www.rocklatan.com. Aerie continues to focus on global expansion and the development of additional product candidates and technologies in ophthalmology, including for wet age-related macular degeneration and diabetic macular edema. More information is available at www.aeriepharma.com.

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 in this press release include statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations concerning, among other things: our expectations regarding our ability to attract and retain executive talent, the ability of such executive talent to adequately discharge their responsibilities, the commercialization and manufacturing of, as applicable, Rhopressa^®, Rocklatan^®, Rhokiinsa^®, Roclanda^® or any current or future product candidates, including the timing, cost or other aspects of their commercial launch or commercialization, marketing, manufacturing and supply management capabilities and strategies in and outside the United States; the success, timing and cost of our ongoing and anticipated preclinical studies and clinical trials for Rhopressa^® and Rocklatan^®, with respect to regulatory approval outside of the United States or additional indications, and any current or future product candidates, including statements regarding the timing of initiation and completion of the studies and trials; the timing of and our ability to request, obtain and maintain FDA or other regulatory authority approval of, or other action with respect to, as applicable, Rhopressa^®, Rocklatan^® or any current or future product candidates; the potential advantages of Rhopressa^® and Rocklatan^® or any current or future product candidates; our plans to pursue development of additional product candidates and technologies within and beyond ophthalmology; our plans to explore possible uses of our existing proprietary compounds beyond glaucoma, including development of our retina program; our ability to protect our proprietary technology and enforce our intellectual property rights; and our expectations regarding strategic operations, including our ability to in-license or acquire additional ophthalmic products, product candidates or technologies. We discuss many of the risks associated with our business 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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FAQ

What are the responsibilities of Leon J. Atencia at Aerie Pharmaceuticals?

Leon J. Atencia will oversee clinical regulatory affairs and pharmacovigilance.

What is the stock options award given to Leon J. Atencia?

Atencia will receive 16,900 stock options vesting over four years.

What is Nasdaq Listing Rule 5635(c)(4) related to Aerie's press release?

This rule pertains to requirements for public announcements regarding inducement awards to new employees.

What impact may Atencia's appointment have on Aerie Pharmaceuticals?

His appointment is expected to strengthen regulatory strategies and enhance the company's product oversight.