Aerie Pharmaceuticals Inc said on Wednesday its eye drug met the main goal in a late stage study, sending its shares up 71 percent in extended trading.
The company's drug, Roclatan, is a fixed-dose combination of its lead drug Rhopressa and latanoprost, one of the most widely prescribed glaucoma drugs.
The study achieved its primary goal by showing statistical superiority of the drug over each of its components, all of which were dosed once daily in the evening, the company said.
The company submitted a marketing application for Rhopressa - a once-daily eye drop to treat patients with glaucoma or ocular hypertension - to the U.S. Food and Drug Administration last week.
Aerie's shares rose to $36.08 in trading after the bell. Up to Tuesday's close, the stock had fallen 19.3 percent this year.
(Reporting by Ankur Banerjee in Bengaluru; Editing by Anil D'Silva)