NEW YORK (TheStreet) -- Aerie Pharmaceuticals (AERI) - Get Reportstock is up by 25.07% to $18.56 on heavy trading volume on Thursday, after the company reported a successful safety study for its glaucoma treatment.
The clinical-stage pharmaceutical company announced on Wednesday that interim results from a year-long trial of the treatment showed no serious or adverse effects. The treatment, Rhopressa, treats glaucoma, which is a condition that can cause vision loss or blindness.
The company plans to file an FDA New Drug Application for Rhopressa during the 2016 third quarter.
"We expect that clinicians will be highly satisfied with the long-term safety and efficacy results demonstrated in our clinical trials. They have waited for a generation for a product with the novel qualities of Rhopressa," Aerie's Chief Medical Officer Richard Lewis said in a statement.
So far today, 2.73 million shares of Aerie have traded, versus the company's 30-day average of about 394,000 shares.