AERI - Aerie swings to profits in Q4 thanks to licensing deal with Santen

Aerie Pharmaceuticals (AERI +27.0%) is trading sharply higher in morning hours to record the biggest intraday gain since 2017 after the commercial-stage pharma company reported better-than-expected financials for Q4 2021 with quarterly net income for the first time in its history. Q4 2021 net revenue jumped ~364% YoY to reach $114.7M as the company recorded $82M in licensing revenue related to its second agreement with Santen, which was announced last December. Total revenue also rose ~134% YoY for the full year to reach $194.1M. However, glaucoma franchise net product revenues increased only ~32% YoY and ~35% YoY to $32.7M and $112.1M during the quarter and full year, respectively. However, net income for the period stood at $54.5M compared to the net loss of $46.1M, while net loss for the year contracted ~59% YoY to $74.8M. Cash and equivalents reached $139.8M at the end of the year, ~42% lower than the level

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Aerie swings to profits in Q4 thanks to licensing deal with Santen