DURHAM – Aerie Pharmaceuticals (Nasdaq:AERI) reported a second quarter loss of $1.14 a share, missing analysts consensus estimates of $1.02 and wider than its loss a year ago of 63 cents. But its glaucoma drug, Rhopressa, posted revenue of $2.4 million, beating analyst estimates of $1.16 million.

The company said higher operating costs related to launching Rhopressa, its lead drug, including additional hiring, resulted in the higher than expected loss.

The U.S. Food and Drug Administration approved Rhopressa in December 2017 for reducing intraocular pressure in patients with glaucoma or ocular hypertension. Aerie launched the drug commercially in April 30. The company said it expects full year 2018 Rhopressa net revenues to be in the range of $20 million to $30 million.

Vincente Anido Jr., Aerie chair and CEO said in a statement that “The physician feedback to date from the Rhopressa launch has been quite positive, and we have seen solid uptake in prescription volumes along with substantial progress in market access.”

He added that the company obtained a high degree of access to prescribing doctors and “They are now experiencing how Rhopressa performs when taken in combination with other therapies in a real world setting.”

Anido  also said  it is pleased with the FDA’s response on the review process for its next pipeline drug, Roclatan. The company, he said, “Remains very well financed, including the flexibility of having our $100 million undrawn credit facility, as we continue with our preclinical retina program and global expansion activities.”

Roclatan is a combination drug that includes Rhopressa and a commonly prescribed glaucoma drug, latanoprost. Reports have said if the FDA approves Roclatan,  the Aerie drugs may became standard care for glaucoma.

As of June 30, 2018, Aerie had cash, cash equivalents and investments of $286.1 million.

Its $55 million net loss for the quarter was comprised of $58 million in total operating expenses compared with $28.4 million in the same quarter in 2017. The higher expenses “Primarily reflect increased activities associated with the expansion of our employee base to support the growth of our operations and activities associated with our Rhopressa commercialization efforts, ” the company said.

Aerie shares were at $65.15, up 40 cents a share in mid-day trading.