Shares of Aerie Pharmaceuticals (NASDAQ: AERI) jumped more than 14% after the company reported fourth-quarter and full-year 2019 operating results. The commercial-stage pharmaceutical company handily beat expectations for product revenue in the final three months of last year.
The business reported fourth-quarter 2019 revenue of $24.7 million, whereas Wall Street analysts were expecting just $19.5 million on average, according to numbers compiled by Yahoo! Finance. That reinvigorated investors who had grown accustomed to disappointing sales figures from the company, although guidance for 2020 supports the excitement.
As of 1:54 p.m. EST, the pharma stock had settled to a 10.5% gain.