The company expects to submit its New Drug Application filing in mid-2016.
The stock was up 26.01% to $26.50 at 12:40 p.m.
Rhopressa's concerning safety profile, including elevated rates of eye redness, corneal deposits and blurry vision, could turn off doctors and glaucoma patients who already have access to cheaper eye drops.
Doug Kass shares his views on why he's hanging onto Potash and which stocks he's shorting.
Doug Kass looks at Carl Icahn's actions on Apple and the breakout in biotech stocks.