Aerie Pharmaceuticals (AERI) 10-K 25 Feb 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2021	Feb. 18, 2022	Jun. 30, 2021
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-36152
Entity Registrant Name	Aerie Pharmaceuticals, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	20-3109565
Entity Address, Address Line One	4301 Emperor Boulevard,
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Durham,
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	27703
City Area Code	919
Local Phone Number	237-5300
Title of 12(b) Security	Common Stock, $0.001 par value per share
Trading Symbol	AERI
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Entity Public Float			$ 734,874,546
Entity Common Stock, Shares Outstanding		48,391,874
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement (the “Proxy Statement”) for the 2022 Annual Meeting of Stockholders are incorporated by reference into Part III of this Annual Report on Form 10-K. The Proxy Statement will be filed with the Securities and Exchange Commission (the “SEC”) within 120 days of the registrant’s fiscal year ended December 31, 2021.
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Entity CIK	0001337553

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Location	Florham Park, New Jersey
Auditor Name	PricewaterhouseCoopers LLP
Auditor Firm ID	238

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Current assets
Cash and cash equivalents	$ 37,187	$ 151,570
Short-term investments	102,614	88,794
Accounts receivable, net	68,828	56,022
Inventory	40,410	27,059
Licensing receivable	90,000	0
Prepaid expenses and other current assets	16,611	8,310
Total current assets	355,650	331,755
Property, plant and equipment, net	51,472	54,260
Operating lease right-of-use assets	22,669	14,084
Other assets	1,600	1,946
Total assets	431,391	402,045
Current liabilities
Accounts payable	8,285	8,826
Accrued expenses and other current liabilities	112,341	90,723
Operating lease liabilities	4,365	4,923
Total current liabilities	124,991	104,472
Convertible notes, net	234,527	210,373
Deferred revenue, non-current	64,315	50,858
Operating lease liabilities, non-current	21,751	10,206
Other non-current liabilities	3,140	2,168
Total liabilities	448,724	378,077
Commitments and contingencies (Note 13)
Stockholders’ (deficit) equity
Preferred stock, $0.001 par value; 15,000,000 shares authorized as of December 31, 2021 and December 31, 2020; None issued and outstanding	0	0
Common stock, $0.001 par value; 150,000,000 shares authorized as of December 31, 2021 and December 31, 2020; 48,444,473 and 46,821,644 shares issued and outstanding as of December 31, 2021 and December 31, 2020, respectively	48	47
Additional paid-in capital	1,136,656	1,103,074
Accumulated other comprehensive loss	(126)	(52)
Accumulated deficit	(1,153,911)	(1,079,101)
Total stockholders’ (deficit) equity	(17,333)	23,968
Total liabilities and stockholders’ (deficit) equity	$ 431,391	$ 402,045

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized (in shares)	15,000,000	15,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	48,444,473	46,821,644
Common stock, shares outstanding (in shares)	48,444,473	46,821,644

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Total revenues, net	$ 194,134	$ 83,138	$ 69,888
Costs and expenses:
Cost of goods sold	26,846	25,333	4,833
Selling, general and administrative	137,805	137,184	138,402
Pre-approval commercial manufacturing	0	2,304	22,767
Research and development	75,837	74,007	91,378
Total costs and expenses	240,488	238,828	257,380
Loss from operations	(46,354)	(155,690)	(187,492)
Other expense, net	(27,863)	(22,166)	(12,179)
Loss before income taxes	(74,217)	(177,856)	(199,671)
Income tax expense (benefit)	593	5,245	(90)
Net loss	$ (74,810)	$ (183,101)	$ (199,581)
Net loss per common share - diluted (in dollars per share)	$ (1.61)	$ (3.99)	$ (4.39)
Net loss per common share - basic (in dollars per share)	$ (1.61)	$ (3.99)	$ (4.39)
Weighted average number of common shares outstanding—diluted (in shares)	46,336,346	45,897,255	45,427,154
Weighted average number of common shares outstanding—basic (in shares)	46,336,346	45,897,255	45,427,154
Net loss	$ (74,810)	$ (183,101)	$ (199,581)
Unrealized (loss) gain on available-for-sale investments	(74)	40	(92)
Comprehensive loss	(74,884)	(183,061)	(199,673)
Product revenues, net
Total revenues, net	112,134	83,138	69,888
Licensing revenues
Total revenues, net	$ 82,000	$ 0	$ 0

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' (Deficit) Equity - USD ($) $ in Thousands	Total	COMMON STOCK	ADDITIONAL PAID-IN CAPITAL	ACCUMULATED OTHER COMPREHENSIVE LOSS	ACCUMULATED DEFICIT
Beginning balance (in shares) at Dec. 31, 2018		45,478,883
Beginning balance, value at Dec. 31, 2018	$ 227,806	$ 45	$ 924,180	$ 0	$ (696,419)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options and warrants (in shares)		612,759
Issuance of common stock upon exercise of stock options and warrants	3,140		3,140
Issuance of common stock upon exercise of stock purchase rights (in shares)		42,611
Issuance of common stock upon exercise of stock purchase rights	979		979
Issuance of common stock for restricted stock awards, net (in shares)		330,416
Issuance of common stock for restricted stock awards, net	(2,629)	$ 1	(2,630)
Stock-based compensation	45,551		45,551
Other comprehensive income (loss)	(92)			(92)
Equity component of Convertible Notes, net of issuance costs of $3,725	124,666		124,666
Payment for capped call share options	(32,890)		(32,890)
Net loss	(199,581)			0	(199,581)
Ending balance (in shares) at Dec. 31, 2019		46,464,669
Ending balance, value at Dec. 31, 2019	166,950	$ 46	1,062,996	(92)	(896,000)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options and warrants (in shares)		51,333
Issuance of common stock upon exercise of stock options and warrants	172	$ 1	171
Issuance of common stock upon exercise of stock purchase rights (in shares)		60,857
Issuance of common stock upon exercise of stock purchase rights	724		724
Issuance of common stock for restricted stock awards, net (in shares)		244,785
Issuance of common stock for restricted stock awards, net	(1,754)		(1,754)
Stock-based compensation	40,937		40,937
Other comprehensive income (loss)	40			40
Net loss	(183,101)				(183,101)
Ending balance (in shares) at Dec. 31, 2020		46,821,644
Ending balance, value at Dec. 31, 2020	$ 23,968	$ 47	1,103,074	(52)	(1,079,101)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock upon exercise of stock options and warrants (in shares)	1,146,095	1,135,607
Issuance of common stock upon exercise of stock options and warrants	$ 3,491	$ 1	3,490
Issuance of common stock upon exercise of stock purchase rights (in shares)		119,414
Issuance of common stock upon exercise of stock purchase rights	1,176		1,176
Issuance of common stock for restricted stock awards, net (in shares)		367,808
Issuance of common stock for restricted stock awards, net	(1,695)		(1,695)
Stock-based compensation	30,611		30,611
Other comprehensive income (loss)	(74)			(74)
Net loss	(74,810)				(74,810)
Ending balance (in shares) at Dec. 31, 2021		48,444,473
Ending balance, value at Dec. 31, 2021	$ (17,333)	$ 48	$ 1,136,656	$ (126)	$ (1,153,911)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' (Deficit) Equity (Parenthetical) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Statement of Stockholders' Equity [Abstract]
Issuance costs, equity component of convertible debt	$ 3,725

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash flows from operating activities
Net loss	$ (74,810)	$ (183,101)	$ (199,581)
Adjustments to reconcile net loss to net cash used in operating activities
Depreciation	6,399	6,366	5,138
Amortization and accretion	31,101	27,792	12,976
Acquisition of assets expensed to research and development	0	0	10,171
Stock-based compensation	29,524	40,095	45,093
Other non-cash	1,194	(732)	(271)
Changes in operating assets and liabilities
Accounts receivable, net	(12,806)	(17,668)	(35,639)
Inventory	(12,101)	(5,166)	(10,257)
Prepaid, current and other assets	(7,285)	340	(2,144)
Licensing receivable	(90,000)	0	0
Accounts payable, accrued expenses and other current liabilities	21,580	22,536	28,766
Operating lease liabilities	(5,407)	(6,010)	(4,682)
Deferred revenue	13,457	50,858	0
Net cash used in operating activities	(99,154)	(64,690)	(150,430)
Cash flows from investing activities
Acquisition of assets	0	0	(7,835)
Purchase of available-for-sale investments	(132,361)	(116,591)	(165,454)
Proceeds from sales and maturities of investments	117,451	192,870	0
Purchase of property, plant and equipment	(3,291)	(3,100)	(9,958)
Net cash (used in) provided by investing activities	(18,201)	73,179	(183,247)
Cash flows from financing activities
Proceeds from loan	0	8,274	0
Repayment of loan	0	(8,274)	0
Proceeds related to issuance of common stock for stock-based compensation arrangements, net	2,972	(859)	684
Proceeds from exercise of warrants	0	0	761
Proceeds from convertible notes, net of issuance costs	0	0	308,349
Payments of issuance costs	0	0	(1,769)
Payment for capped call options	0	0	(32,890)
Other financing	0	0	(336)
Net cash provided by (used in) financing activities	2,972	(859)	274,799
Net change in cash and cash equivalents	(114,383)	7,630	(58,878)
Cash and cash equivalents, at beginning of period	151,570	143,940	202,818
Cash and cash equivalents, at end of period	37,187	151,570	143,940
Supplemental disclosures
Cash paid for interest	4,744	5,034	6,496
Cash paid for income taxes	0	4,987	0
Non-cash investing and financing activities:
Liabilities incurred from Avizorex Asset Acquisition	0	0	1,186
Purchases of property, plant and equipment in accounts payable and accrued expense and other current liabilities	$ 922	$ 374	$ 771

The Company

The Company	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
The Company	The Company Aerie Pharmaceuticals, Inc. (“Aerie”), with its wholly-owned subsidiaries, Aerie Distribution, Inc., Aerie Pharmaceuticals Limited, Aerie Pharmaceuticals Ireland Limited and Avizorex Pharma S.L. (“Aerie Distribution,” “Aerie Limited,” “Aerie Ireland Limited” and “Avizorex,” respectively, together with Aerie, the “Company”), is a pharmaceutical company focused on the discovery, development and commercialization of first-in-class ophthalmic therapies for the treatment of patients with eye diseases and conditions including open-angle glaucoma, dry eye, diabetic macular edema (“DME”) and wet age-related macular degeneration (“AMD”). The Company has its principal executive offices in Durham, North Carolina, and operates as one business segment. U.S. Commercialization of the Glaucoma Franchise The Company has developed and commercialized two U.S. Food and Drug Administration (“FDA”) approved products, Rhopressa ® (netarsudil ophthalmic solution) 0.02% (“Rhopressa ® ”) and Rocklatan ® (netarsudil/latanoprost ophthalmic solution) 0.02%/0.005% (“Rocklatan ® ”), which are sold in the United States and comprise its glaucoma franchise. Rhopressa ® is a once-daily eye drop designed to reduce elevated intraocular pressure (“IOP”) in patients with open-angle glaucoma or ocular hypertension. Rocklatan ® is a once-daily fixed-dose combination of Rhopressa ® and latanoprost, a commonly prescribed drug for the treatment of patients with open-angle glaucoma or ocular hypertension. The Company is commercializing Rhopressa ® , which was launched in the United States in April 2018, and Rocklatan ® , which was launched in the United States in May 2019. Efforts Outside the United States In addition to actively promoting Rhopressa ® and Rocklatan ® in the United States, the Company is also developing business opportunities outside of the United States and has made progress in its efforts to commercialize Rhopressa ® and Rocklatan ® in Europe, Japan and other regions of the world. The Company partnered and has collaboration agreements in place with Santen Pharmaceuticals Co., Ltd. (“Santen Pharmaceuticals”) and Santen SA (“Santen SA” and, together with Santen Pharmaceuticals, “Santen”) to develop and commercialize its products in Japan and South Korea, Indonesia, Malaysia, Philippines, Singapore, Thailand, Vietnam and Taiwan (collectively, “East Asia”), as well as Europe, China, India, the Middle East, Commonwealth of Independent States (“CIS”), Africa, parts of Latin America and the Oceania countries. The initial Collaboration and License Agreement with Santen was executed in October 2020 (the “First Santen Agreement”) to advance the Company’s clinical development and ultimately commercialize Rhopressa ® and Rocklatan ® in Japan and East Asia. The second Collaboration and License Agreement with Santen (the “ Second Santen Agreement” and, together with the First Santen Agreement, “Santen Agreements” ) was executed in December 2021 to develop and commercialize Rhopressa ® and Rocklatan ® in Europe, China, India, the Middle East, CIS, Africa, parts of Latin America and the Oceania countries. See Note 3 for additional information. In Europe, Rhopressa ® and Rocklatan ® will be marketed under the names Rhokiinsa ® and Roclanda ® , respectively. Rhokiinsa ® and Roclanda ® were granted a Centralised Marketing Authorisation (“Centralised MA”) by the European Commission (“EC”) in November 2019 and January 2021, respectively . In April 2021, Roclanda ® received marketing authorisation from the Medicines and Healthcare Products Regulatory Agency (“MHRA”) in Great Britain. In Japan, in October 2021, the Company reported positive topline results for its Phase 3 clinical trial of netarsudil ophthalmic solution 0.02%, the first of three expected Phase 3 clinical trials in Japan. A second, confirmatory Phase 3 study, required for approval in Japan, is underway. Santen is taking the lead on next steps in preparation for registration in Japan. Clinical trials for Rocklatan ® in Japan have not yet begun. Glaucoma Product Manufacturing The Company has a sterile fill production facility in Athlone, Ireland, for the production of its FDA approved products and clinical supplies , which was completed in the second quarter of 2019. The Company received FDA approval to produce Rocklatan ® and Rhopressa ® at the Athlone manufacturing p lant for commercial distribution in the United States in January 2020 and September 2020, respectively. The Athlone manufacturing plant began manufacturing commercial supplies of Rocklatan ® in the first quarter of 2020 and Rhopressa ® in the third quarter of 2020 for distribution to the United States . Shipments of commercial supply of Rocklatan ® and Rhopressa ® from the Athlone manufacturing plant to the United States commenced in the second half of 2020 . In addition, the Athlone manufacturing plant has manufactured clinical supplies of Rhopressa ® for the Phase 3 clinical trials in Japan as well as registration batches to support product approval in Japan. Product Candidates and Pipeline The Company is furthering the development of its product candidates focused on dry eye and retinal diseases, as described below. Dry Eye Program The Company is developing AR-15512 ophthalmic solution for the treatment of patients with dry eye disease. The active ingredient in AR-15512 is a potent and selective agonist of the TRPM8 ion channel, a cold sensor and osmolarity sensor that regulates tear production and blink rate. In addition, activating the TRPM8 receptor may reduce ocular discomfort by promoting a cooling sensation. In September 2021, the Company reported topline results of its Phase 2b clinical study, named COMET-1, for AR-15512. The Company completed a dose ranging study evaluating two concentrations of AR-15512 (0.0014% and 0.003%) in a 90-day trial with 369 subjects. The COMET-1 clinical study achieved statistical significance for multiple pre-specified and validated signs and symptoms. The greatest efficacy was demonstrated with the higher concentration 0.003% formulation, which the Company plans to advance to Phase 3 studies. The study did not achieve statistical significance at the pre-determined primary endpoints at Day 28. Retina Program The Company is currently developing two sustained-release implants focused on retinal diseases, AR-1105 and AR-14034 SR. For AR-1105, a dexamethasone steroid implant, the Company completed a large Phase 2 clinical trial for patients with macular edema due to retinal vein occlusion (“RVO”) in July 2020 and reported topline results indicating sustained efficacy of up to six months. The preclinical sustained-release implant AR-14034 SR is being designed to deliver the active ingredient axitinib, a potent small molecule pan-vascular endothelial growth factor (“VEGF”) receptor inhibitor. AR-14034 SR has the potential to provide a duration of effect of approximately one year with a once per-year injection. It may potentially be used to treat DME, wet AMD and related diseases of the retina. Liquidity The Company commenced generating product revenues related to the sales in the United States of Rhopressa ® in the second quarter of 2018 and Rocklatan ® in the second quarter of 2019. The Company’s activities prior to the commercial launch of Rhopressa ® had primarily consisted of developing product candidates, raising capital and performing research and development activities. The Company has incurred losses and experienced negative operating cash flows since inception. The Company had previously funded its operations primarily through the sale of equity securities and issuance of convertible notes prior to generating product revenues. In September 2019, the Company issued an aggregate principal amount of $316.25 million of 1.50% convertible senior notes due 2024 (the “Convertible Notes”). See Note 10 for additional information. Further, the Company entered into the First Santen Agreement and Second Santen Agreement in October 2020 and December 2021, respectively, pursuant to which Santen made upfront payments of $50 million and $88 million, respectively. In December 2021, the Company also earned a $2 million supplemental upfront payment associated with the Second Santen Agreement. The upfront payments associated with the Second Santen Agreement were received in January 2022. See Note 3 for additional information. As of December 31, 2021, the Company had $139.8 million in cash, cash equivalents and investments. The Company believes that its cash, cash equivalents and investments, and projected cash flows from revenues will provide sufficient resources to support its operations, including interest payments for its Convertible Notes, through at least the next twelve months from the date of this filing. The Company continues to evaluate collaboration and licensing opportunities related to its pipeline products. The Company expects to incur ongoing operating losses until such a time when Rhopressa ® or Rocklatan ® or any current or future product candidates, if approved, generate sufficient cash flows for the Company to achieve profitability. Accordingly, the Company may be required to obtain further funding through debt or equity offerings or other sources. Adequate additional funding may not be available to the Company on acceptable terms, or at all. If the Company is unable to raise capital when needed or on acceptable terms, it may be forced to delay, reduce or eliminate its research and development programs or commercialization and manufacturing efforts.

Significant Accounting Policies

Significant Accounting Policies	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Presentation and Consolidation The Company’s consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”). The consolidated financial statements include the accounts of Aerie and its wholly-owned subsidiaries. All intercompany accounts, transactions and profits have been eliminated in consolidation. Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of income and expenses during the reporting periods. Significant items subject to such estimates and assumptions include revenue recognition and stock-based compensation. On March 11, 2020, the World Health Organization declared the coronavirus (“COVID-19”) outbreak a pandemic. The full extent to which COVID-19 will directly or indirectly impact the Company’s business, results of operations and financial condition, including net product revenue, cost and expenses, reserves and allowances, manufacturing and clinical trials, may still not be known and will depend on future developments that continue to be uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain or treat it, as well as the economic impact on eye-care professionals, patients, third parties and markets. Actual results could differ from the Company’s estimates. Segment Information Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision-maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business as one operating segment. Concentration of Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents and investments. The Company’s cash and cash equivalents, which include short-term highly liquid investments with original maturities of three months or less, are held at several financial institutions. The Company’s investment policy permits investments in U.S. federal government and federal agency securities, corporate bonds or commercial paper, money market instruments, and certain qualifying money market mutual funds, and places restrictions on credit ratings, maturities, and concentration by type and issuer. The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash, cash equivalents and investments to the extent recorded on the consolidated balance sheet. The Company relies on its manufacturing plant in Athlone, Ireland, and its contract manufacturers to produce commercial supplies of Rhopressa ® and Rocklatan ® , as well as its third-party manufacturers to produce the active pharmaceutical ingredient (“API”). The Company may rely on a combination of internal manufacturing and third-party manufacturers for its current and future product candidates. The Athlone manufacturing plant manufactures most of the Company’s needs for Rhopressa ® and Rocklatan ® in the United States. See Note 1 for additional information. As the Athlone manufacturing plant commenced operations in early 2020, it has not reached full capacity. The Company expects that the Athlone manufacturing plant will have adequate capacity to produce for the markets included in the Santen Agreements, as needed which include Europe, Japan, East Asia and certain other regions, if approved for commercial distribution in those markets . The Company may continue to use contract manufacturers to produce commercial supplies of Rhopressa ® and Rocklatan ® for distribution in the United States , but at reduced levels as a result of the Athlone manufacturing plant commencing manufacturing operations . In addition to the current contract manufacturers, the Company obtained FDA approval for an additional Rhopressa ® drug product contract manufacturer, which began to supply commercial product in the second quarter of 2019. Further, the Company obtained FDA approval for an additional API contract manufacturer, which began to supply commercial API in the second quarter of 2019. The Company also received FDA approval of an additional Rocklatan ® drug product contract manufacturer, which began to supply commercial product in the first quarter of 2020. Latanoprost, used in the manufacture of Rocklatan ® , is available in commercial quantities from multiple reputable third-party manufacturers. Revenue Recognition The Company accounts for its revenue transactions under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”). In accordance with ASC Topic 606, the Company recognizes revenues when its customers obtain control of its product for an amount that reflects the consideration it expects to receive from its customers in exchange for that product. To determine revenue recognition for contracts that are determined to be in scope of ASC Topic 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once the contract is determined to be within the scope of ASC Topic 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when such performance obligation is satisfied. Product Revenues Aerie’s customers include a limited number of national and select regional wholesalers (the “distributors”). These distributors subsequently resell the product, primarily to retail pharmacies that dispense the product to patients. Net product revenue is typically recognized when distributors obtain control of the Company’s products, which occurs at a point in time, typically upon delivery of product to the distributors. The Company evaluates the creditworthiness of each of its distributors to determine whether it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur. The Company does not assess whether a contract has a significant financing component if the expectation is such that the period between the transfer of the promised goods to the customer and the receipt of payment will be less than one year. Standard credit terms do not exceed 75 days. The Company expenses incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that would have been recognized is one year or less or the amount is immaterial. Shipping and handling costs related to the Company’s product sales are included in selling, general and administrative expenses. The Company’s net product revenues through December 31, 2021 were generated through sales of Rhopressa ® and Rocklatan ® . Product revenues are recorded net of trade discounts, allowances, commercial and government rebates, co-pay program coupons, chargebacks, U.S. government funding requirements for the coverage gap (commonly called the “donut hole”) portion of the Medicare Part D program and estimated returns and other incentives. These reserves are classified as either reductions of accounts receivable or as current liabilities. The estimates of reserves established for variable consideration reflect current contractual and statutory requirements, known market events and trends, industry data, forecasted customer mix and lagged claims. The transaction price, which includes variable consideration reflecting the impact of discounts and allowances, may be subject to constraint and is included in the net product revenues only to the extent that it is probable that a significant reversal of the amount of the cumulative revenues recognized will not occur in a future period. Actual amounts may ultimately differ from these estimates. If actual results vary, estimates may be adjusted in the period such change in estimate becomes known, which could have an impact on earnings in the period of adjustment. See Note 3 for additional information. Contract Revenues from License Agreements In the normal course of business, the Company conducts research and development activities pursuant to which the Company may license certain rights of its intellectual property to third parties. The terms of these arrangements typically include payment to the Company for a combination of one or more of the following: upfront license fees; development, regulatory and sales-based milestone payments; clinical or commercial supply services and royalties on net sales of licensed products. The Company would first assess any arrangements under ASC Topic 808 , Collaborative Arrangements (“ASC Topic 808”) to determine whether the agreement (or part of the agreement) represents a collaborative arrangement based on the risks and rewards and activities of the parties. The Company accounts for collaborative arrangements (or elements within the contract that are deemed part of a collaborative arrangement), which represent a collaborative relationship and not a customer relationship, outside the scope of ASC Topic 606. For arrangements within the scope of ASC Topic 606, in determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company performs the five steps outlined in “— Revenue Recognition ” above. As part of the accounting for these arrangements, the Company must use judgment to determine: (a) the performance obligations based on the determination under step (ii) above; (b) the transaction price under step (iii) above; (c) the stand-alone selling price for each performance obligation identified in the contract for the allocation of transaction price under step (iv) above; and (d) in some circumstances when control transfers and the appropriate measure of progress in order to recognize revenue under step (v) above. The Company uses judgment to determine whether milestones or other variable consideration should be included in the transaction price as described further below. The transaction price is allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under the contract are satisfied. Amounts received prior to revenue recognition are recorded as deferred revenue. Amounts expected to be recognized as revenue within the 12 months following the balance sheet date are classified as current portion of deferred revenue in the Company’s consolidated balance sheets. Amounts not expected to be recognized as revenue within the 12 months following the balance sheet date are classified as deferred revenue, non-current. Upfront license fees : If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company will recognize revenue from upfront license fees allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. For licenses that are bundled with other promises, the Company determines whether the combined performance obligation is satisfied over time or at a point in time. Development, regulatory or commercial milestone payments : At the inception of each arrangement that includes payments based on the achievement of certain development, regulatory and sales-based or commercial events, the Company evaluates whether the milestones are considered probable of being achieved and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the Company’s or the licensee’s control, such as regulatory approvals, are not considered probable of being achieved until uncertainty associated with the approvals has been resolved. At the end of each subsequent reporting period, the Company will re-evaluate the probability of achieving such development and regulatory milestones and any related constraint, and if necessary, adjust the Company’s estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis and recorded as part of license revenues from collaborations during the period of adjustment. Clinical or commercial supply services : Arrangements that include a promise for the future supply of drug product for either clinical development or commercial supply at the licensee’s discretion are generally considered as customer options. The Company assesses if these options provide a material right to the licensee and if so, they would be accounted for as separate performance obligations. Sales-based milestone payments and royalties : For arrangements that include sales-based royalties, including milestone payments based on the volume of sales, the Company will determine whether the license is deemed to be the predominant item to which the royalties or sales-based milestones relate and if such is the case, the Company will recognize revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Upfront payments and fees may require deferral of revenue recognition to a future period until the Company performs its obligations under these arrangements or when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with any variable consideration is subsequently resolved. Amounts payable to the Company are recorded as accounts receivable when the Company’s right to consideration is unconditional. The Company does not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less. See Note 3 for additional information. Cash Equivalents The Company’s cash and cash equivalents are held at several financial institutions. The Company considers money market accounts and short-term highly liquid investments with original maturities of three months or less to be cash equivalents. Credit Losses Trade accounts receivable : The allowance for doubtful accounts is based on the Company’s assessment of the collectability of customer accounts. The Company regularly reviews the allowance by considering factors such as historical experience, creditworthiness of its customers, the age of the accounts receivable balances and current economic conditions that may affect a customer’s ability to pay. Available-for-sale investments : The Company’s investments in debt securities can consist of U.S. federal government and federal agency securities, corporate bonds or commercial paper, money market instruments and certain qualifying money market mutual funds. The investments are short-term in nature and are rated investment grade by at least one bond credit rating service. Inventories Inventories are stated at the lower of cost or net realizable value. The Company determines the cost of inventory using the first-in, first-out (“FIFO”) method. The Company analyzes its inventory levels at least quarterly and writes down inventory that is expected to expire prior to being sold, inventory in excess of expected sales requirements and inventory that fails to meet commercial sale specifications, with a corresponding charge to cost of goods sold. The determination of whether inventory costs will be realizable requires estimates by management of future expected inventory requirements based on sales forecasts. If actual net realizable value is less than the estimated amount or if actual market conditions are less favorable than the Company’s projections, additional inventory write-downs may be required. Charges for inventory write-downs are not reversed if it is later determined that the product is saleable. Prior to the date the Company obtains regulatory approval for its product candidates or its manufacturing facilities such as its manufacturing plant in Athlone, Ireland, manufacturing costs related to commercial production are expensed as pre-approval commercial manufacturing expense in the Company’s consolidated statements of operations and comprehensive loss. Once regulatory approval is obtained, the Company capitalizes such costs as inventory in its consolidated balance sheets. Property, Plant and Equipment, Net Property, plant and equipment are recorded at historical cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets. Construction-in-progress reflects amounts incurred for property, plant or equipment construction or improvements that have not been yet placed in service and are not depreciated or amortized, which primarily relates to the completion of the Company’s manufacturing plant in Athlone, Ireland. Repairs and maintenance are expensed when incurred. Upon retirement or sale, the cost of the assets disposed of and the related accumulated depreciation are removed from the accounts, and any resulting gain or loss is included in the determination of net loss. Estimated useful lives by major asset category are as follows: Manufacturing equipment 10 years Laboratory equipment 7 years Furniture and fixtures 5 years Software, computer and other equipment 3 years Leasehold improvements Lower of estimated useful life or term of lease Leases The Company accounts for its lease transactions under FASB ASC Topic 842, Leases (“ASC Topic 842”). In accordance with ASC Topic 842, the Company determines if an arrangement is a lease at inception. For each lease, the lease term is determined at the commencement date and includes renewal options and termination options when it is reasonably certain that the Company will exercise that option. Operating leases with lease terms greater than one year are included in operating lease right-of-use (“ROU”) assets and current and non-current operating lease liabilities in the Company’s consolidated balance sheets. Operating lease ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term using an estimated rate of interest the Company would have to pay to borrow equivalent funds on a collateralized basis at the lease commencement date. The operating lease ROU assets are based on the liability adjusted for any prepaid or deferred rent and lease incentives. The incremental borrowing rate was utilized to discount lease payments over the expected term given that the Company’s operating leases do not provide an implicit rate. The Company estimates the incremental borrowing rate to reflect the profile of secured borrowing over the expected term of the leases based on the information available at the later of the date of adoption or the lease commencement date. Rent expense for the operating lease is recognized on a straight-line basis over the lease term. The Company’s lease agreements have lease and non-lease components, which are generally accounted for as a single lease component. Non-lease components include lease operating expenses, which are variable costs under the Company’s current leases. For vehicle leases, the Company accounts for the lease and non-lease components as a single lease component and applies a portfolio approach to effectively account for the operating lease ROU assets and liabilities. Impairment of Long-Lived Assets The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by a comparison of the carrying amount of an asset or asset group to estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset. For the years ended December 31, 2021, 2020 and 2019, no such impairment losses have been recorded by the Company. Acquisitions The Company evaluates acquisitions to determine whether the acquisition is a business combination or an acquisition of assets under ASC Topic 805. Business combinations are accounted for using the acquisition method of accounting, whereby assets acquired and liabilities assumed are recorded as of the acquisition date at their respective fair values and excess of the fair value of the consideration transferred over the fair value of the net assets acquired is recorded as goodwill. In an asset acquisition that does not constitute a business, no goodwill is recognized, and the net assets acquired are generally recorded at cost. Significant judgment is required in estimating the fair value of intangible assets and in a determination of whether an acquisition is a business combination or an acquisition of assets. The fair value estimates are based on available historical information and on future expectations and assumptions deemed reasonable by management, but are inherently uncertain. The consolidated statement of operations and comprehensive loss for the year ended December 31, 2019 includes the impact of the acquisition of assets from Avizorex. See Note 13 for additional information. Research and Development Costs Research and development costs are charged to expense as incurred and include, but are not limited to: • employee-related expenses including salaries, benefits, travel and stock-based compensation expense for research and development personnel; • expenses incurred under agreements with contract research organizations (“CROs”), contract manufacturing organizations and service providers that assist in conducting clinical and preclinical studies; • costs associated with any collaboration arrangements, licenses or acquisitions of preclinical molecules, product candidates or technologies; • costs associated with preclinical activities and development activities; • costs associated with regulatory operations; and • depreciation expense for assets used in research and development activities. Costs for certain development activities, such as clinical studies, are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations, or information provided to the Company by its vendors on their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the patterns of costs incurred, and are reflected in the consolidated financial statements as prepaid expenses or accrued expenses as deemed appropriate. No material adjustments to these estimates have been recorded in these consolidated financial statements. Research and development costs also include the cost of in-process research and development (“IPR&D”) projects acquired as part of an asset acquisition that have no alternative future use. Milestone payments due to third parties in connection with research and development activities prior to regulatory approval are expensed as incurred, while milestone payments due to third parties upon, or subsequent to, regulatory approval are capitalized and amortized over the estimated useful life. Stock-Based Compensation Stock-based compensation for awards granted to employees and non-employees is measured at grant date, based on the estimated fair value of the award. The Company estimates the fair value of options to purchase common stock and stock appreciation rights (“SARs”) using a Black-Scholes option pricing model. The Black-Scholes option pricing model utilizes assumptions including expected term, volatility, a risk-free interest rate and an expected dividend yield. The Company utilized the guidance set forth in the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin 107, Share-Based Payment (“SAB 107”), to determine the expected term of options, as it does not have sufficient historical exercise and post-vesting termination data to provide a reasonable basis upon which to estimate the expected term of stock options granted to employees. The simplified method utilizes the midpoint between the vesting date and the maximum contractual expiration date as the expected term. Volatility is based on the historical volatility of the Company as well as several public entities that are similar to the Company. The risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term. The Company uses an expected dividend yield of zero as it does not expect to pay cash dividends for the foreseeable future. Upon issuance and at each reporting period, the fair value of each SARs award is estimated using the Black-Scholes option pricing model and is marked to market through stock-based compensation expense. SARs are liability-based awards as they may only be settled in cash. The fair value of restricted stock awards (“RSAs”) and restricted stock units (“RSUs”), including restricted stock awards with non-market performance and service conditions (“PSAs”) are determined based on the fair value of Aerie’s common stock on the date of grant. Compensation expense related to RSAs and RSUs are recognized ratably over the vesting period. As the PSAs have multiple performance conditions, compensation expense is recognized for each vesting tranche over the respective requisite service period of each tranche if and when the Company’s management deems it probable that the performance conditions will be satisfied. Stock-based compensation related to stock options, RSAs, RSUs and PSAs is expensed on a straight-line basis over the relevant vesting period, although the Company may recognize a cumulative true-up adjustment related to PSAs once a condition becomes probable of being satisfied if the related service period had commenced in a prior period. All stock-based compensation expense is recorded between selling, general and administrative, pre-approval commercial manufacturing, research and development costs and cost of goods sold in the consolidated statements of operations and comprehensive loss based upon the underlying employees’ roles within the Company. A change in the terms or conditions of a share-based payment award is accounted for as a modification (that is, an exchange of the original award for a new award), unless the award’s fair value, vesting conditions, and classification as an equity or liability instrument are the same as immediately before and after the change. The Company accounts for forfeitures as they occur. Investments The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase. The Company’s investments are comprised of debt securities, including commercial paper and corporate bonds, that are classified as available-for-sale in accordance with ASC Topic 320, Investments—Debt and Equity Securities . The Company classifies investments available to fund current operations as current assets on its consolidated balance sheets. Investments are classified as long-term assets on the consolidated balance sheets if (i) the Company has the intent and ability to hold the investments for a period of at least one year and (ii) the contractual maturity date of the investments is greater than one year. Available-for-sale investments in debt securities are recorded at fair value, with unrealized gains or losses included in comprehensive loss on the consolidated statements of operations and comprehensive loss and in accumulated other comprehensive loss on the consolidated balance sheets. The Company’s investments also included equity securities, which in accordance with the fair value hierarchy described below are recorded at fair value using Level l inputs in the Company’s consolidated balance sheets and the subsequent changes in fair values are recorded in other income (expense), net in the Company’s consolidated statements of operations and comprehensive loss. Realized gains and losses, interest income earned on the Company’s cash, cash equivalents and investments, and amortization or accretion of discounts and premiums on investments are included within other income (expense), net in the Company’s consolidated statements of operations and comprehensive loss. Realized gains and losses are determined using the specific identification method and are included as a component of other income (expense), net. The Company reviews investments in debt securities for other-than-temporary impairment whenever the fair value of an investment is less than the amortized cost and evidence indicates that an investment’s carrying amount is not recoverable within a reasonable period of time. The Company did not recognize any impairments on its investments during the years ended December 31, 2021, 2020 or 2019. Fair Value Measurements The Company records certain financial assets and liabilities at fair value in accordance with the provisions of ASC Topic 820, Fair Value Measurements and Disclosures . As defined in the guidance, fair value, defined as an exit price, represents the amount that would be received to sell an asset or pay to transfer a liability in an orderly transaction between market participants. As a result, fair value is a market-based approach that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering these assumptions, the guidance defines a three-tier value hierarchy that prioritizes the inputs used in the valuation methodologies in measuring fair value. • Level 1—Unadjusted quoted prices in active, accessible markets for identical assets or liabilities. • Level 2—Other inputs that are directly or indirectly observable in the marketplace. • Level 3—Unobservable inputs that are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The Company’s cash equivalents are carried at fair value according to the fair value hierarchy described above. The Company’s investments were valued utilizing Level 2 inputs and the Convertible Notes were valued utilizing Level 2 inputs as of December 31, 2021. There were no transfers between the different levels of the fair value hierarchy in 2021 or in 2020. Convertible Notes Transaction The Company separately accounts for the liability and equity components of convertible notes transactions that can be settled in cash by allocating the proceeds from issuance between the liability component and the embedded conversion option in accordance with accounting for convertible debt instruments that may be settled in cash (including partial cash settlement) upon conversion. The value of the equity component is calculated by first measuring the fair value of the liability component, using the interest rate of a similar liability that does not have a conversion feature, as of the issuance date. The difference between the proceeds from the convertible debt issuance and the amount measured as the liability component is recorded as the equity componen

Revenue Recognition

Revenue Recognition	12 Months Ended
	Dec. 31, 2021
Revenue from Contract with Customer [Abstract]
Revenue Recognition	Revenue Recognition Product Revenues Net product revenues for the years ended December 31, 2021, 2020 and 2019 were generated from sales of Rhopressa ® and Rocklatan ® , the Company’s glaucoma franchise products, which were commercially launched in the United States in April 2018 and May 2019, respectively. For the year ended December 31, 2021, three distributors accounted for 36.9%, 31.0% and 30.9% of total revenues, respectively. For the year ended December 31, 2020, three distributors accounted for 37.4%, 32.4% and 28.8% of total revenues, respectively. For the year ended December 31, 2019, three distributors accounted for 36.5%, 33.3% and 28.0% of total revenues, respectively. Product affordability for the patient drives consumer acceptance, and this is generally managed through coverage by third-party payers, such as government or private healthcare insurers and pharmacy benefit managers (“Third-party Payers”) and such product may be subject to rebates and discounts payable directly to those Third-party Payers. Product revenues are recorded net of trade discounts, allowances, rebates, chargebacks, estimated returns and other incentives in the consolidated statements of operations and comprehensive loss, discussed below. These reserves are classified as either reductions of accounts receivable or as current liabilities in the consolidated balance sheets. Amounts billed or invoiced are included in accounts receivable, net in the consolidated balance sheets. The Company did not have any contract assets (unbilled receivables) as of December 31, 2021 or 2020, as customer invoicing generally occurs before or at the time of revenue recognition. The Company did not have any contract liabilities as of December 31, 2021 or 2020, as the Company did not receive payments in advance of fulfilling its performance obligations to its customers. The Company calculates its net product revenues based on the wholesale acquisition cost that the Company charges its distributors for Rhopressa ® and Rocklatan ® less provisions for (i) trade discounts and allowances, such as discounts for prompt payment and distributor fees, (ii) estimated rebates to Third-party Payers, estimated payments for Medicare Part D prescription drug program coverage gap (commonly called the “donut hole”), patient co-pay program coupon utilization, chargebacks and other discount programs and (iii) reserves for expected product returns. Provisions for revenue reserves reduced product revenues by $247.1 million, $202.2 million and $105.9 million in aggregate for the years ended December 31, 2021, 2020 and 2019, respectively, a significant portion of which related to commercial and Medicare Part D rebates. Trade Discounts and Allowances : The Company generally provides discounts on sales of Rhopressa ® and Rocklatan ® to its distributors for prompt payment and pays fees for distribution services and for certain data that distributors provide to the Company. The Company expects its distributors to earn these discounts and fees, and accordingly deducts the full amount of these discounts and fees from its gross product revenues at the time such revenues are recognized. Rebates, Chargebacks and Other Discounts : The Company contracts with Third-party Payers for coverage and reimbursement of Rhopressa ® and Rocklatan ® . The Company estimates the rebates and chargebacks it expects to be obligated to provide to Third-party Payers and deducts these estimated amounts from its gross product revenue at the time the revenue is recognized. The Company estimates the rebates and chargebacks that it expects to be obligated to provide to Third-party Payers based upon (i) the Company's contracts and negotiations with these Third-party Payers, (ii) estimates regarding the payer mix for Rhopressa ® and Rocklatan ® based on third-party data and utilization, (iii) inventory held by distributors and (iv) estimates of inventory held at the retail channel. Other discounts include the Company’s co-pay assistance coupon programs for commercially-insured patients meeting certain eligibility requirements. The calculation of the accrual for co-pay assistance is based on an estimate of claims and the cost per claim that the Company expects to pay associated with product that has been recognized as revenue. Product Returns : The Company estimates the amount of Rhopressa ® and Rocklatan ® that will be returned and deducts these estimated amounts from its gross revenue at the time the revenue is recognized. The Company currently estimates product returns based on historical information regarding returns of Rhopressa ® and Rocklatan ® as well as historical industry information regarding rates for comparable pharmaceutical products and product portfolios, the estimated remaining shelf life of Rhopressa ® and Rocklatan ® shipped to distributors, and contractual agreements with the Company's distributors intended to limit the amount of inventory they maintain. Reporting from the distributors includes distributor sales and inventory held by distributors, which provides the Company with visibility into the distribution channel to determine when product would be eligible to be returned. Santen Collaboration and License Agreements First Santen Agreement In October 2020, Aerie Ireland Limited entered into the First Santen Agreement with Santen, a global ophthalmology company, whereby Aerie Ireland Limited granted to Santen the exclusive right to develop, manufacture, market and commercialize Rhopressa ® and Rocklatan ® (the “Licensed Products”) in Japan and East Asia (such jurisdictions collectively, the “Territories”). The Company is the sole manufacturer of the Licensed Products for Santen and Santen may manufacture upon mutual agreement of both parties. Under the First Santen Agreement, Aerie Ireland Limited granted Santen a first right of negotiation for the rights to the Licensed Products in any Asian countries other than the Territories. Under the First Santen Agreement, Santen made an upfront payment of $50.0 million (the “Japan Upfront Payment”) and Aerie Ireland Limited will earn various development milestones of up to $39.0 million and sales milestones of up to $60.0 million upon the achievement of certain events. In addition, Santen will pay Aerie Ireland Limited a royalty in excess of 25% of the Licensed Products’ net sales, such consideration consisting of the cost of products supplied to Santen from Aerie Ireland Limited and a royalty for the Company’s intellectual property. Santen will be responsible for sales, marketing and pricing decisions relating to the Licensed Products. Santen is also responsible for all development and commercialization costs and activities related to the Licensed Products in the Territories, except that Aerie Ireland Limited shares 50% of the costs related to conducting the first Rhopressa ® Phase 3 clinical trial in Japan, which commenced in the fourth quarter of 2020 and the Company reported positive topline results as described in Note 1. The term of the First Santen Agreement continues on a country-by-country and product-by-product basis in the Territory until the expiration of the obligation to make payments under the Agreement with respect to each Licensed Product in each country. The First Santen Agreement may be terminated by either Aerie Ireland Limited or Santen upon the other party’s material breach, bankruptcy or insolvency. Aerie Ireland Limited may also terminate the First Santen Agreement upon a patent challenge by Santen, and Santen may terminate the First Santen Agreement in its discretion if Santen reasonably determines that the Licensed Products are not commercially viable in the Territory (effective upon 180 days’ prior written notice). In addition, in the event that patents are issued that may prevent the commercialization of the Licensed Products during the three-year period following marketing authorization of Rhopressa ® in Japan, Santen would have the right to terminate the First Santen Agreement and require Aerie Ireland Limited’s repayment of up to approximately 85% of the Upfront Payment, all development milestone payments and 50% of the development expenses incurred by Santen. In the event of termination, the Licens ed Products in the applicable Territories will revert to Aerie Ireland Limited. Second Santen Agreement In December 2021, Aerie Ireland Limited entered into the Second Santen Agreement with Santen which expands the scope of the First Santen Agreement, discussed above . Pursuant to the Second Santen Agreement, Aerie Ireland Limited granted to Santen the exclusive right to develop and commercialize the Licensed Products in Europe, China, India, the Middle East, CIS, Africa, parts of Latin America and the Oceania countries (such jurisdictions collectively, the “Expanded Territories”). The Company is the sole manufacturer of the Licensed Products for Santen and Santen may manufacture upon mutual agreement of both parties. In addition, Aerie Ireland Limited granted Santen a first right of refusal to commercialize the Licensed Products in Canada. Under the agreement, Santen made a payment in January 2022 to Aerie Ireland Limited which was comprised of an $88.0 million upfront payment (“Europe Upfront Payment”) and a $2.0 million supplemental upfront payment that was earned based on the achievement of an event that occurred in December 2021. Aerie Ireland Limited will earn various development milestones of up to $15.5 million and sales milestones of up to $60.0 million upon the achievement of certain events. In addition, Santen will pay Aerie Ireland Limited a royalty in excess of 25% of the Licensed Products’ net sales in the Expanded Territories, excluding China and India (in excess of 20% of the Licensed Products’ net sales in China and India), such consideration consisting of the cost of products supplied to Santen from Aerie Ireland Limited and a royalty for the Company’s intellectual property. While the royalty rate decreases when the Licensed Products are manufactured by or on behalf of Santen, there is a guaranteed minimum percentage. The term of the Second Santen Agreement continues on a country-by-country and product-by-product basis until the expiration of the obligation to make payments under the Second Santen Agreement with respect to each Licensed Product in each country or region. The Second Santen Agreement may be terminated by either Aerie Ireland Limited or Santen upon the other party’s material breach, bankruptcy or insolvency. Aerie Ireland Limited may also terminate the agreement upon a patent challenge by Santen or on a country-by-country basis upon a breach by Santen of its obligation to develop, obtain marketing approval of and commercialize the Licensed Products in certain of the Expanded Territories. Santen may terminate the Second Santen Agreement in its discretion if Santen reasonably determines that the Licensed Products are not commercially viable in the Expanded Territory (effective upon 180 days’ prior written notice). In addition, in the event that patents are issued that may prevent the commercialization of the Licensed Products during the three-year period following marketing authorization of Rhopressa ® in China, Santen would have the right to terminate the agreement with respect to China only and require Aerie Ireland Limited to repay $8.0 million of the Europe Upfront Payment. In the event of termination, the Licensed Products in the applicable Expanded Territories will revert to Aerie Ireland Limited. Assessment under ASC Topic 808 and ASC Topic 606 The Company first assessed each of the Santen Agreements under ASC Topic 808 to determine whether each (in whole or in part) represents a collaborative arrangement based on the risks and rewards and activities of the parties. The Company accounts for collaborative arrangements (or elements within the contract that are deemed part of a collaborative arrangement), which represent a collaborative relationship and not a customer relationship, outside the scope of ASC Topic 606. The Company determined that each of the S anten Agreements met the definition of a customer for each unit of account and is within the scope of ASC Topic 606. The Company identified two distinct performance obligations in the First Santen Agreement: (i) the exclusive license to Rhopressa ® and Rocklatan ® and (ii) the Phase 3 clinical trials in Japan. In both Santen Agreements, Santen can benefit from the license on its own by developing, manufacturing, marketing and commercializing the Licensed Products using its own resources. In addition, the Company expects to enter into a manufacturing and supply agreement with Santen no later than twenty-four months prior to the first commercial sale of a Licensed Product in the Territory. The Company identified two distinct performance obligations in the Second Santen Agreement: (i) the exclusive license to Rhopressa ® and Rocklatan ® and (ii) the supply of Licensed Products to Santen. Santen can benefit from the license on its own by developing, manufacturing, marketing and commercializing the Licensed Products using its own resources and the supply of Licensed Products to Santen does not represent a material right. The Company recognized deferred revenue, non-current of $56.3 million and $50.8 million, during the years ended December 31, 2021 and 2020, respectively. During each of the years ended December 31, 2021 and 2020, deferred revenue, non-current, included $50.0 million relating to the Japan Upfront Payment as well as Santen’s portion of shared costs related to conducting the first Rhopressa ® Phase 3 clinical trial in Japan, which commenced in the fourth quarter of 2020. The Company also recognized as of December 31, 2021, a $6.3 million receivable in prepaid expenses and other current assets in the consolidated balance sheet related to Santen’s portion of shared costs due to the Company conducting the first Rhopressa ® Phase 3 clinical trial in Japan, as described above. While the Company determined that the license was a right to use the Company’s intellectual property and as of the effective date of the First Santen Agreement, the Company had provided all necessary information to Santen to benefit from the license and the license term had begun, revenue was not recognized upon satisfaction of the performance obligation due to the uncertainty around potential termination in the event that p atents are issued that may prevent the commercialization of the Licensed Products. The Company will recognize the Japan Upfront Payment, and any other potential future development milestones and sales milestones, when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur. The Company will re-evaluate the transaction price in each reporting period and as uncertain events are resolved or other changes in circumstances occur. For the year ended December 31, 2021, the Company recognized $82.0 million as licensing revenues, net in the consolidated statement of operations and comprehensive loss, which consisted of (i) $80.0 million of the $88.0 million Europe Upfront Payment and (ii) the $2.0 million supplemental upfront payment earned in connection with the Second Santen Agreement. The licensing revenues were recognized as the license is considered a right to use the Company’s intellectual property and as of the effective date of the Second Santen Agreement, the Company had provided all necessary information to Santen to benefit from the license and the license term had begun, and the performance obligation had been satisfied, with the exception of China as further discussed herein. As of December 31, 2021, the Company recognized $8.0 million of the Europe Upfront Payment as deferred revenue, non-current in its consolidated balance sheet due to the uncertainty around potential termination in China in the event that p atents are issued that may prevent the commercialization of the Licensed Products.

Investments

Investments	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Investments	Investments Cash, cash equivalents and investments as of December 31, 2021 included the following: GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR (in thousands) COST GAINS LOSSES VALUE Cash and cash equivalents: Cash and cash equivalents $ 37,187 $ — $ — $ 37,187 Total cash and cash equivalents $ 37,187 $ — $ — $ 37,187 Investments: Certificates of deposit (due within 1 year) $ 9,047 $ — $ (9) $ 9,038 Commercial paper (due within 1 year) 50,975 — (55) $ 50,920 Corporate bonds (due within 1 year) 42,718 — (62) 42,656 U.S. Government and government agencies (due within 1 year) — — Total investments $ 102,740 $ — $ (126) $ 102,614 Total cash, cash equivalents and investments $ 139,927 $ — $ (126) $ 139,801 Cash, cash equivalents and investments as of December 31, 2020 included the following: GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR (in thousands) COST GAINS LOSSES VALUE Cash and cash equivalents: Cash and cash equivalents $ 151,570 $ — $ — $ 151,570 Total cash and cash equivalents $ 151,570 $ — $ — $ 151,570 Investments: Commercial paper (due within 1 year) $ 44,122 $ 5 $ (23) $ 44,104 Corporate bonds (due within 1 year) 44,724 3 (37) 44,690 Total investments $ 88,846 $ 8 $ (60) $ 88,794 Total cash, cash equivalents and investments $ 240,416 $ 8 $ (60) $ 240,364 Interest income earned on the Company’s cash, cash equivalents and investments was $0.1 million, $2.0 million and $3.0 million for the years ended December 31, 2021, 2020 and 2019, respectively. Realized gains or losses were immaterial for the years ended December 31, 2021, 2020 and 2019. As of December 31, 2021, the Company did not hold any equity securities. As of December 31, 2020, the fair value of the equity securities held at the end of the period was $1.3 million. For the year ended December 31, 2021, the Company had $1.0 million of realized losses on equity securities.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables summarize the fair value of financial assets and liabilities that are measured at fair value and the classification by level of input within the fair value hierarchy: FAIR VALUE MEASUREMENTS AS OF DECEMBER 31, 2021 (in thousands) LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Cash and cash equivalents: Cash and cash equivalents $ 37,187 $ — $ — $ 37,187 Total cash and cash equivalents: $ 37,187 $ — $ — $ 37,187 Investments: Certificates of deposit $ — $ 9,038 $ — 9,038 Commercial paper — 50,920 — 50,920 Corporate bonds — 42,656 — 42,656 Total investments $ — $ 102,614 $ — $ 102,614 Total cash, cash equivalents and investments: $ 37,187 $ 102,614 $ — $ 139,801 FAIR VALUE MEASUREMENTS AS OF DECEMBER 31, 2020 (in thousands) LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Cash and cash equivalents: Cash and cash equivalents $ 151,570 $ — $ — $ 151,570 Total cash and cash equivalents: $ 151,570 $ — $ — $ 151,570 Investments: Commercial paper $ — $ 44,104 $ — $ 44,104 Corporate bonds — 44,690 — 44,690 Total investments $ — $ 88,794 $ — $ 88,794 Total cash, cash equivalents and investments: $ 151,570 $ 88,794 $ — $ 240,364 The fair value of the Convertible Notes, which differs from their carrying value, is influenced by interest rates, stock price and stock price volatility and is determined by prices observed in market trading. The market for trading of the Convertible Notes is not considered to be an active market and therefore the estimate of fair value is based on Level 2 inputs. The estimated fair value of the Convertible Notes was $270.4 million and $296.7 million at December 31, 2021 and December 31, 2020, respectively.

Inventory

Inventory	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Inventory	Inventory Inventory consists of the following: DECEMBER 31, (in thousands) 2021 2020 Raw materials $ 5,368 $ 1,875 Work-in-process 30,989 21,648 Finished goods 4,053 3,536 Total inventory $ 40,410 $ 27,059 For the years ended December 31, 2021 and 2020, $17.0 million and $17.0 million, respectively, of production costs associated with underutilized capacity at the Company’s Athlone manufacturing plant were recorded in cost of goods sold in the

Property, Plant and Equipment,

Property, Plant and Equipment, Net	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment, Net	Property, Plant and Equipment, Net Property, plant and equipment, net consists of the following: (in thousands) DECEMBER 31, 2021 2020 Manufacturing equipment $ 22,464 $ 21,705 Laboratory equipment 9,182 7,948 Furniture and fixtures 1,569 1,681 Software, computer and other equipment 7,779 7,836 Leasehold improvements 31,175 30,178 Construction-in-progress 2,037 1,481 Property, plant and equipment 74,206 70,829 Less: Accumulated depreciation (22,734) (16,569) Property, plant and equipment, net $ 51,472 $ 54,260 Depreciation expense was $6.4 million, $6.4 million and $5.1 million for the years ended December 31, 2021, 2020 and 2019, respectively.

Leases

Leases	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Leases	Leases The Company has operating leases for corporate offices, research and development facilities, and a fleet of vehicles. The properties primarily relate to the Company’s principal executive office and research facility located in Durham, North Carolina, regulatory, commercial support and other administrative activities located in Irvine, California, and clinical, finance and legal operations located in Bedminster, New Jersey. The Durham, North Carolina, facility consists of approximately 61,000 square feet of laboratory and office space under a lease that was renewed in the third quarter of 2021 and expires in June 2029. The Irvine, California, location consists of approximately 27,000 square feet of office space under a lease that was renewed in the third quarter of 2021 and expires in October 2027. The Bedminster, New Jersey, location consists of approximately 34,000 square feet of office space under a lease that expires in October 2029. There are also small offices in Ireland, the United Kingdom and Japan. The Company is leasing approximately 30,000 square feet of interior floor space for its manufacturing plant in Athlone, Ireland. The Company is reasonably certain it will remain in the lease through the end of its lease term in 2037, however, the Company is permitted to terminate the lease as early as September 2027. The Company’s operating leases have remaining lease terms of approximately 1 year to 16 years , some of which include options to extend the leases. The cash paid for amounts included in the measurement of lease liabilities was $5.4 million, $6.0 million and $4.7 million during the years ended December 31, 2021, 2020, and 2019, respectively . The Company’s right-of-use assets obtained in exchange for operating lease obligations were $13.0 million and $1.9 million during the years ended December 31, 2021 and 2020, respectively . DECEMBER 31, 2021 2020 Operating Leases Weighted-average remaining lease terms 8 years 8 years Weighted-average discount rate 8 % 9 % Maturities of lease liabilities as of December 31, 2021 a re as follows: OPERATING (in thousands) LEASES Year Ending December 31, 2022 $ 4,447 2023 4,826 2024 4,297 2025 4,568 Thereafter 18,333 Total undiscounted lease payments 36,471 Less: present value adjustment (10,355) Total lease liabilities $ 26,116 Maturities of lease liabilities as of December 31, 2020 were as follows: OPERATING (in thousands) LEASES Year Ending December 31, 2021 $ 5,068 2022 2,467 2023 2,139 2024 1,764 Thereafter 10,424 Total undiscounted lease payments $ 21,862 Less: present value adjustment (6,733) Total lease liabilities $ 15,129 Lease expense for the Company’s operating leases was $5.9 million, including variable lease payments of $1.1 million, for the year ended December 31, 2021 , respectively. Lease expense for the Company’s operating leases was $5.6 million, including variable lease payments of $0.7 million, for the year ended December 31, 2020, respectively. Lease expense for the Company’s operating leases was $5.3 million, including variable lease payments of $1.3 million, for the year ended December 31, 2019.

Accrued Expenses & Other Curren

Accrued Expenses & Other Current Liabilities	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued Expenses & Other Current Liabilities	Accrued Expenses & Other Current Liabilities Accrued expenses and other current liabilities consist of the following: DECEMBER 31, (in thousands) 2021 2020 Accrued expenses and other current liabilities: Accrued compensation and benefits $ 15,881 $ 15,207 Accrued consulting and professional fees 5,007 2,645 Accrued research and development (1) 2,262 2,222 Accrued revenue reserves (2) 85,381 66,552 Accrued other (3) 3,810 4,097 Total accrued expenses and other current liabilities $ 112,341 $ 90,723 (1) Comprised primarily of accruals related to fees for investigative sites, contract research organizations and other service providers that assist in conducting preclinical research studies and clinical trials. (2) Comprised primarily of accruals related to commercial and government rebates as well as returns. The accrued revenue reserve at December 31, 2021 is higher than prior year primarily due to higher rebates largely driven by government sponsored programs. (3) Comprised primarily of accruals related to interest payable as well as other business-related expenses.

Debt

Debt	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Debt	Debt Convertible Notes I n September 2019, the Company issued an aggregate principal amount of $316.25 million of Convertible Notes to qualified institutional buyers pursuant to Rule 144A of the Securities Act of 1933, as amended. The Convertible Notes, governed by an indenture between the Company and a trustee, are senior, unsecured obligations and do not include financial and operating covenants nor any restrictions on the payments of dividends, the incurrence of indebtedness or the issuance or repurchase of securities by Aerie or any of its subsidiaries. Interest on the Convertible Notes is payable semi-annually in cash in arrears at a rate of 1.50% per annum on April 1 and October 1 of each year, which began on April 1, 2020. The Convertible Notes will mature on October 1, 2024 unless they are redeemed, repurchased or converted prior to such date. Prior to April 1, 2024, the Convertible Notes will be convertible at the option of holders only during certain periods and upon satisfaction of certain conditions. On and after April 1, 2024, the Convertible Notes will be convertible at the option of the holders any time until the close of business on the second scheduled trading day immediately preceding the maturity date. Upon conversion, the Convertible Notes may be settled in shares of Aerie common stock, cash or a combination, thereof, at the Company's election. The Company intends to pay cash upon conversion of the Convertible Notes, and consequently does not include the conversion value of the Convertible Notes in the diluted earnings per share computation. See Note 2 for additional information. The Convertible Notes have an initial conversion rate of 40.04 shares of Aerie common stock per $1,000 principal amount of the Convertible Notes, which will be subject to customary anti-dilution adjustments in certain circumstances. This represents an initial effective conversion price of approximately $24.98 per share, which represents a premium of approximately 35% to the $18.50 per share closing price of Aerie common stock on September 4, 2019, the date the Company priced the offering. The Company may redeem all or any portion of the Convertible Notes, at its option, on or after October 3, 2022, at a cash redemption price equal to 100% of the principal amount of the Convertible Notes to be redeemed, plus accrued and unpaid interest, if any, to, but excluding, the redemption date, but only if the last reported sale price of Aerie common stock exceeds 130% of the conversion price of $24.98, which amounts to $32.47, then in effect for at least 20 trading days (whether or not consecutive) during any 30 consecutive trading day period (including the last trading day of such period) ending on, and including, the trading day immediately before the date the Company provides written notice of redemption; and the trading day immediately before the notice is sent. Holders of Convertible Notes may require the Company to repurchase their Convertible Notes upon the occurrence of certain events that constitute a fundamental change under the indenture governing the Convertible Notes at a fundamental change repurchase price equal to 100% of the principal amount thereof, plus accrued and unpaid interest to, but excluding, the fundamental change repurchase date. During the year ended December 31, 2021, the conditions allowing holders of the Convertible Notes to elect to convert had not been met. As of December 31, 2021, the if-converted value of the Convertible Notes did not exceed the principal amount of the Convertible Notes. The estimated fair value of the liability component of the Convertible Notes at the time of issuance was $187.9 million and was determined based on a discounted cash flow analysis and a binomial lattice model. The valuation required the use of Level 3 unobservable inputs and subjective assumptions, including but not limited to the stock price volatility and bond yield. The effective interest rate on the liability component was 10.5% for the period from the date of issuance through December 31, 2021. The equity component of the Convertible Notes was recognized at issuance and represents the difference between the principal amount of the Convertible Notes and the fair value of the liability component of the Convertible Notes at issuance. The equity component was approximately $128.4 million at the time of issuance and its fair value is not remeasured as long as it continues to meet the conditions for equity classification. In connection with the issuance of the Convertible Notes, the Company incurred debt issuance costs of $9.2 million for the three months ended December 31, 2019 . In accordance with ASC Topic 470, Debt , these costs were allocated to debt and equity components in proportion to the allocation of proceeds. Issuance costs of $5.5 million were recorded as debt issuance costs in the net carrying value of Convertible Notes. The debt issuance costs are amortized on an effective interest basis over the term of the Convertible Notes. The remaining issuance costs of $3.7 million were recorded as additional paid-in capital, net with the equity component and such amounts are not subject to amortization. The following table summarizes the carrying value of the Convertible Notes: DECEMBER 31, (in thousands) 2021 2020 Gross proceeds $ 316,250 $ 316,250 Unamortized debt discount (78,395) (101,565) Unamortized issuance costs (3,328) (4,312) Carrying value $ 234,527 $ 210,373 The following table summarizes the interest expense recognized related to the Convertible Notes: DECEMBER 31, (in thousands) 2021 2020 2019 Stated interest $ 4,744 $ 4,751 $ 1,476 Amortized debt discount 23,170 20,837 5,989 Amortized issuance costs 983 885 254 Interest Expense $ 28,897 $ 26,473 $ 7,719 Separately, the Company entered into privately negotiated capped call options with financial institutions. The capped call options cover, subject to customary anti-dilution adjustments, the number of shares of Aerie common stock that initially underlie the Convertible Notes. The cap price of the capped call options is $37.00 per share of Aerie common stock, representing a premium of 100% above the closing price of $18.50 per share of Aerie common stock on September 4, 2019, and is subject to certain adjustments under the terms of the capped call options. The capped call options are generally intended to reduce or offset potential dilution to Aerie common stock upon conversion of the Convertible Notes with such reduction and/ or offset, as the case may be, subject to a cap based on the cap price. The Company paid a total of $32.9 million in premiums for the capped call options, which was recorded as additional paid-in capital, using a portion of the gross proceeds from the issuance and sale of the Convertible Notes. The capped call options are excluded from diluted earnings per share because the impact would be anti-dilutive. Credit Facility In September 2019, the Company terminated its $200 million credit facility with certain entities affiliated with Deerfield Management Company L.P. (“Deerfield”) pursuant to which $100 million of delayed draw term loan commitments were provided by Deerfield in July 2018 (the “July 2018 tranche”) and $100 million of delayed draw term loan commitments were provided by Deerfield in May 2019 (the “May 2019 tranche”). Upon termination, the Company paid aggregate fees of $6.5 million to Deerfield in respect of the fee on undrawn amounts and the exit fee for each of the July 2018 tranche and May 2019 tranche. No funds were drawn under either tranche at the time of termination. Interest Expense Interest expense was $28.9 million and $26.5 million for the years ended December 31, 2021 and 2020, and included stated interest and amortization of debt discount and issuance costs related to the Convertible Notes. Interest expense was $15.3 million for the year ended December 31, 2019,

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The provision for income taxes is based on net loss before income taxes as follows: DECEMBER 31, (in thousands) 2021 2020 2019 Net loss before income taxes: United States $ (138,323) $ (143,349) $ (153,620) Non-U.S. 64,106 (34,507) (46,051) Net loss before income taxes $ (74,217) $ (177,856) $ (199,671) DECEMBER 31, (in thousands, except percentages) 2021 2020 2019 Provision for income taxes: Current: United States $ — $ (33) $ (90) Non-U.S. 593 5,278 — Total $ 593 $ 5,245 $ (90) Deferred: United States $ — $ — $ — Non-U.S. — — — Total — — — Provision for income taxes $ 593 $ 5,245 $ (90) Effective tax rate (0.80) % (2.95) % 0.05 % Significant components of the Company’s net deferred income tax assets as of December 31, 2021 and 2020 consist of the following: DECEMBER 31, (in thousands) 2021 2020 Net deferred tax assets: Net operating loss carryforwards $ 178,597 $ 169,070 Stock-based compensation 21,603 29,884 U.S. tax credit carryforwards 16,489 13,526 Envisia asset acquisition 4,593 5,007 Basis difference in intangibles — 7,625 Convertible Notes (14,912) (19,028) Other assets 14,347 10,697 Other liabilities (7,938) (5,416) Valuation allowance (212,779) (211,365) Total net deferred income taxes $ — $ — A reconciliation of the statutory tax rates and the effective tax rates for the years ended December 31, 2021, 2020 and 2019 is as follows: DECEMBER 31, 2021 2020 2019 U.S. federal tax rate 21.00 % 21.00 % 21.00 % GILTI (14.14) % — % — % State income taxes, net of federal benefit 1.96 % 4.02 % 4.97 % Non-taxable foreign loss 11.47 % (4.81) % (4.44) % Stock-based compensation (16.21) % (2.29) % (1.47) % Other (0.76) % 0.48 % 0.98 % Change in valuation allowance (4.12) % (21.35) % (20.99) % Effective tax rate (0.80) % (2.95) % 0.05 % In March 2019, the IRS issued new guidance related to sequestration on the alternative minimum tax (“AMT”) tax credits. For taxable years beginning after December 31, 2017, refund payments and refund offset transactions due to refundable minimum tax credits will not be reduced due to federal sequestration. In January 2020 the IRS issued new guidance related to sequestration on the AMT tax credits which would restore the portion of the minimum tax credit refunds previously sequestered with respect to multistate tax commission (“MTC”) refund claims in lieu of bonus depreciation under Section 168(k)(4). On March 27, 2020, the President of the United States signed the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), which is aimed at providing emergency assistance and health care for individuals, families, and businesses affected by the COVID-19 pandemic and generally supporting the U.S. economy. The CARES Act, among other things, includes several business tax provisions which include, but are not limited to modifications of federal net operating loss carrybacks and deductibility, changes to prior year refundable AMT liabilities to allow the accelerated recovery of refund, increase of limitations on business interest deductions from 30 percent to 50 percent of earnings before interest, taxes, depreciation, and amortization, technical corrections of the classification of qualified improvement property making them eligible for bonus depreciation, increase of the limits on charitable contribution deductions from 10 percent to 25 percent of adjusted taxable income, modifications of the treatment of federal loans, loan guarantees, and other investments, suspension of industry specific excise taxes, deferral of the company portion of old age, survivors, and disability insurance program (“OASDI”), and implementation of a refundable employee retention tax credit. During 2020, the Company received the remaining accelerated AMT refund of $0.8 million. The CARES Act did not have a material impact on the Company's consolidated financial statements as of and for the years ended December 31, 2021 and December 31, 2020. At December 31, 2021, the Company had U.S. federal and state net operating loss (“NOL”) carryforwards of approximately $635.1 million and $616.3 million, respectively. If not utilized, federal NOLs that arose prior to 2018 and state NOLs will begin to expire at various dates beginning in 2031 and 2023, respectively. U.S. federal NOLs that arose on or after January 1, 2018 can be carried forward indefinitely against future income, but can only be used to offset a maximum of 80% of the Company’s federal taxable income in any year. As of December 31, 2021, the Company also had foreign NOL carryforwards of $66.0 million, which are available solely to offset taxable income of its foreign subsidiaries, subject to any applicable limitations under foreign law. U.S. federal NOLs and tax credit carryforwards are subject to review and possible adjustment by the Internal Revenue Service and may become subject to an annual limitation in the event of certain cumulative changes in the ownership interest of significant stockholders over a three-year period in excess of 50%, as defined under Sections 382 and 383 of the Internal Revenue Code of 1986, as amended. This could limit the amount of tax attributes that can be utilized annually to offset future taxable income or tax liabilities. Management assesses the available positive and negative evidence to estimate whether sufficient future taxable income will be generated to permit use of the existing deferred tax assets. Significant pieces of objective negative evidence evaluated was the cumulative loss incurred over the three-year period ended December 31, 2021 and lack of profitability for a sustained period. Such objective evidence limits the ability to consider other subjective evidence, such as projections for future growth. On the basis of this evaluation, as of December 31, 2021, the Company maintains a valuation allowance on all of its deferred tax assets as of December 31, 2021. The amount of deferred tax asset considered realizable, however, could be adjusted if objective negative evidence in the form of cumulative losses or lack of profitability for a sustained period is no longer present and additional weight is given to other subjective evidence such as projections for growth. As of December 31, 2021, 2020, 2019 and 2018, the Company had a valuation allowance of $212.8 million, $211.4 million, $170.3 million and $143.3 million, respectively. The increase in valuation allowance in 2021, 2020 and 2019 of $1.4 million, $41.1 million and $27.0 million, respectively, was primarily due to the increase in NOL carryforwards, offset by other temporary differences. The Company does not have any unrecognized tax benefits as of December 31, 2021. The Company is subject to taxation in the United States, Ireland, Japan and the United Kingdom. As of December 31, 2021, tax years ended December 31, 2017 through December 31, 2020 are open under the statute of limitations and subject to tax examinations. To the extent the Company has tax attribute carryforwards, the tax years in which the attribute was generated may still be adjusted upon examination by the IRS, state, or non-U.S. tax authorities to the extent utilized in a future period.

Stock-based Compensation

Stock-based Compensation	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Stock-based Compensation	Stock-based Compensation Stock-based compensation expense for options granted, RSAs, PSAs, RSUs, SARs and stock purchase rights is reflected in the consolidated statements of operations and comprehensive loss as follows: YEAR ENDED DECEMBER 31, (in thousands) 2021 2020 2019 Cost of goods sold $ 1,335 $ 2,353 $ — Selling, general and administrative 20,616 27,176 30,463 Pre-approval commercial manufacturing — 344 3,634 Research and development 7,573 10,222 10,996 Total $ 29,524 $ 40,095 $ 45,093 As of December 31, 2021, the Company had $22.4 million of unrecognized compensation expense related to options outstanding under its equity plans. This expense is expected to be recognized over a weighted average period of 2.17 years as of December 31, 2021. As of December 31, 2021, the Company had $12.6 million of unrecognized compensation expense, related to unvested RSAs, including PSAs. This cost is expected to be recognized over a weighted average period of 2.63 years as of December 31, 2021. Equity Plans The Company maintains three equity compensation plans, the 2005 Aerie Pharmaceutical Stock Plan (the “2005 Plan”), the 2013 Omnibus Incentive Plan (the “2013 Equity Plan”), which was amended and restated as the Aerie Pharmaceuticals, Inc. Second Amended and Restated Omnibus Incentive Plan (the “Second Amended and Restated Equity Plan”), as described below, and the Aerie Pharmaceuticals, Inc. Inducement Award Plan (the “Inducement Award Plan”), as described below. The 2005 Plan, the Second Amended and Restated Equity Plan and the Inducement Award Plan are referred to collectively as the “Plans.” On October 30, 2013, the effective date of the 2013 Equity Plan, the 2005 Plan was frozen and no additional awards have been or will be made under the 2005 Plan. Any remaining shares available for future grant under the 2005 Plan were allocated to the 2013 Equity Plan. In 2015, Aerie’s stockholders approved the adoption of the Aerie Pharmaceuticals, Inc. Amended and Restated Omnibus Incentive Plan (“Amended and Restated Equity Plan”) and no additional awards have been or will be made under the 2013 Equity Plan. Any remaining shares available under the 2013 Equity Plan were allocated to the Amended and Restated Equity Plan. In 2018, Aerie’s stockholders approved the adoption of the Second Amended and Restated Equity Plan to increase the number of shares issuable under the Plan by 4,500,000. The Second Amended and Restated Equity Plan provides for the granting of up to 10,229,068 equity awards in respect of common stock of Aerie, including equity awards that were previously available for issuance under the 2013 Equity Plan. In 2016, Aerie’s Board of Directors approved the Inducement Award Plan which provides for the granting of up to 418,000 equity awards in respect of common stock of Aerie and was subsequently amended in 2017 to increase the equity awards that may be issued by an additional 874,500 shares. On December 5, 2019, the Inducement Award Plan was further amended by Aerie’s Board of Directors to increase the number of shares issuable under the plan by 100,000 shares. On December 9, 2021, Aerie’s Board of Directors approved an increase to the number of shares issuable under the plan for grants made to the Company’s new Chief Executive Officer in connection with his hiring, including 602,952 shares for grants made in December 2021 and additional shares for grants anticipated to be made in the first quarter of 2022. Awards granted under the Inducement Award Plan are intended to qualify as employment inducement awards under NASDAQ Listing Rule 5635(c)(4). Options to Purchase Common Stock Weighted average assumptions utilized in the fair value calculation for options to purchase common stock as of December 31, 2021, 2020 and 2019 are as follows: YEAR ENDED 2021 2020 2019 Expected term (years) 6.0 6.0 6.0 Expected stock price volatility 68 % 74 % 74 % Risk-free interest rate 1.0 % 0.9 % 1.9 % Dividend yield — % — % — % The following table summarizes the stock option activity under the Plans: NUMBER OF WEIGHTED AVERAGE WEIGHTED AGGREGATE Options outstanding at December 31, 2020 8,588,614 $ 27.36 Granted 1,614,997 13.92 Exercised (1,146,095) 3.20 Canceled (2,506,906) 31.02 Options outstanding at December 31, 2021 6,550,610 $ 26.87 6.4 $ 1,116 Options exercisable at December 31, 2021 4,449,867 $ 31.05 5.2 $ 1,116 Options vested and expected to vest at December 31, 2021 6,550,610 $ 26.87 6.4 $ 1,116 The weighted-average fair values of all stock options granted for the years ended December 31, 2021, 2020 and 2019 was $8.57, $10.82, and $20.70, respectively. The aggregate intrinsic value of options exercised for the years ended December 31, 2021, 2020 and 2019 was $7.5 million, $0.6 million and $4.2 million, respectively. The intrinsic value is calculated as the difference between the fair market value at December 31, 2021 and the exercise price per share of the stock options. The fair market value per share of common stock as of December 31, 2021 was $7.02. The following table provides additional information about stock options that are outstanding and exercisable at December 31, 2021: EXERCISE OPTIONS WEIGHTED OPTIONS $0.20 - $10.00 735,309 6.7 288,083 $10.01 - $20.00 2,035,383 7.5 959,566 $20.01 - $30.00 1,794,790 5.3 1,391,071 $30.01 - $45.00 700,678 5.7 628,032 $45.01 - $55.00 753,011 6.2 682,273 $55.01 - $73.10 531,439 6.2 500,842 6,550,610 4,449,867 Restricted Stock Awards The following table summarizes the RSA, including PSAs, activity under the Plans: NUMBER OF WEIGHTED AVERAGE Nonvested RSAs at December 31, 2020 809,527 $ 29.03 Granted 660,926 13.48 Vested (274,488) 33.70 Canceled (218,721) 24.03 Nonvested RSAs at December 31, 2021 977,244 $ 18.32 The vesting of the RSAs is time and service based with terms of 1 to 4 years. The total fair value of restricted stock vested during the years ended December 31, 2021, 2020 and 2019 was $9.2 million, $11.5 million and $9.8 million, respectively. During the year ended December 31, 2017, the Company granted 98,817 RSAs with non-market performance conditions that vest upon the satisfaction of certain performance conditions and service conditions. As of the second quarter of 2020, all PSAs were vested. Restricted Stock Units In September 2019, 43,071 nonvested RSAs were cancelled and replaced with a corresponding number of RSUs. The RSUs were issued with the same vesting provisions as the cancelled RSAs. Accordingly, the 43,071 RSUs outstanding at September 30, 2019 were nonvested. As of December 31, 2021, the associated unrecognized compensation expense totaled $3.0 million. This expense is expected to be recognized over the weighted average period of 3 years as of December 31, 2021. NUMBER OF WEIGHTED AVERAGE Nonvested RSUs at December 31, 2020 107,182 $ 14.43 Granted 100,322 15.48 Vested (30,958) 15.27 Canceled (19,673) 14.89 Nonvested RSUs at December 31, 2021 156,873 $ 14.88 Stock Appreciation Rights The following table summarizes the SARs activity under the Plans: NUMBER OF WEIGHTED AVERAGE WEIGHTED AGGREGATE SARs outstanding at December 31, 2020 212,044 $ 32.28 Granted 70,700 15.97 Exercised — — Canceled (44,395) 31.05 SARs outstanding at December 31, 2021 238,349 $ 27.67 3.04 $ — SARs exercisable at December 31, 2021 83,873 $ 38.63 2.11 $ — Holders of the SARs are entitled under the terms of the Plans to receive cash payments calculated based on the excess of Aerie’s common stock price over the exercise price in their award; consequently, these awards are accounted for as liability-classified awards, and the Company measures compensation cost based on their estimated fair value at each reporting date, net of actual forfeitures, if any. Employee Stock Purchase Plan The Company maintains the 2013 Employee Stock Purchase Plan (the “Purchase Plan”) under which substantially all employees may purchase Aerie’s common stock through payroll deductions and lump sum contributions at a price equal to 85% of the lower of the fair market values of the stock as of the beginning or the end of the offering periods. Employees may not purchase more than the fair value equivalent of $25,000 of stock during any calendar year. The Purchase Plan provides for the issuance of up to 645,814 shares of Aerie’s common stock.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2021
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Milestone Payments In November 2019, the Company entered into a Share Purchase Agreement with Avizorex, (the “Avizorex Agreement”) under which the Company acquired Avizorex, including its lead product candidate AVX-012 (now known as AR-15512), for which Avizorex completed a Phase 2a study in dry eye subjects in 2019. The consideration given for the Avizorex acquisition was $10.2 million. Additionally, contingent milestone payments of up to $69.0 million may be due, subject to achievement of certain product regulatory approvals using the IPR&D assets acquired, plus royalties on net sales of any approved products from Avizorex’s development pipeline. In the first quarter of 2022, the Company gained alignment with the FDA on the results of its Phase 2b clinical trial and confirmed the design of the Phase 3 trials, which the Company currently expects to initiate in the second quarter of 2022. This resulted in the achievement of a regulatory milestone in which the Company will pay Avizorex approximately $8.0 million in the first quarter of 2022. This is a non-recognized subsequent event and will be reflected in the first quarter 2022 financial statements. In October 2017, the Company entered into an Asset Purchase Agreement with Envisia Therapeutics (“Envisia”) (the “Envisia Agreement”) to acquire the rights to use PRINT ® technology in ophthalmology, as well as rights relating to a preclinical dexamethasone steroid implant for the potential treatment of RVO and DME that utilizes the PRINT ® technology, referred to as AR-1105. Under the terms of the Envisia Agreement, the Company (a) made an upfront cash payment of $10.5 million and issued 263,146 shares of Aerie’s common stock valued at approximately $14.3 million and (b) agreed to make potential milestone payments of up to an aggregate of $45.0 million, subject to achievement of certain product regulatory approvals using the IPR&D assets acquired, if achieved within the 15-year milestone period. In July 2017, the Company entered into a collaborative research, development and licensing agreement with DSM Biomedical (“DSM”), which included an option to license DSM’s bio-erodible polymer implant technology for sustained delivery of certain Aerie compounds to treat ophthalmic diseases. This technology uses polyesteramide polymers to produce an injectable, thin fiber that is minute in size. On August 1, 2018, the Company entered into an Amended and Restated Collaborative Research, Development, and License Agreement with DSM (the “DSM Agreement”), which provides for (i) a worldwide exclusive license for all ophthalmic indications to DSM’s polyesteramide polymer technology, (ii) continuation of the collaborative research initiatives through the end of 2020, including the transfer of DSM’s formulation technology to Aerie during that time and (iii) access to a preclinical latanoprost implant. Aerie paid $6.0 million to DSM upon execution of the DSM Agreement, with an additional $9.0 million payable to DSM through the end of 2020. The DSM Agreement includes contingent payments of up to $75 million that may be due to DSM upon the achievement of certain development and regulatory milestones. In addition, pursuant to the DSM Agreement, a $3.0 million milestone payment was made during the year ended December 31, 2018 upon the completion of certain manufacturing technology transfer activities. Aerie would also pay royalties to DSM when products are commercialized under this DSM Agreement, if any. These contingent milestone payments are recognized only when the contingency is resolved (the milestone is achieved) and the consideration is paid or becomes payable. As of December 31, 2021, there were no liabilities recorded relating to potential future milestone payments as the achievement of the related milestones were not met and the timing and likelihood of such milestone payments are not known. Litigation The Company may periodically become subject to legal proceedings and claims arising in connection with its business. As of December 31, 2021, the Company is not a party to any material pending legal or administrative proceedings and, to its knowledge, no such proceedings are threatened or contemplated. The Company does not have contingency reserves established for any litigation liabilities as of December 31, 2021.

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Segment Information	Segment Information Aerie has one operating segment: the discovery, development and commercialization of pharmaceutical products that address unmet medical needs, focusing on open-angle glaucoma, dry eye, DME and wet AMD. The Company's business is managed by a single management team, which reports to the Chief Executive Officer. The following table presents total long-lived assets by geographic location: DECEMBER 31, (in thousands) 2021 2020 United States $ 8,067 $ 8,391 Ireland 43,405 45,869 Total long-lived assets $ 51,472 $ 54,260

Significant Accounting Polici_2

Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	The Company’s consolidated financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
Consolidation	The consolidated financial statements include the accounts of Aerie and its wholly-owned subsidiaries. All intercompany accounts, transactions and profits have been eliminated in consolidation.
Use of Estimates	The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and reported amounts of income and expenses during the reporting periods. Significant items subject to such estimates and assumptions include revenue recognition and stock-based compensation. On March 11, 2020, the World Health Organization declared the coronavirus (“COVID-19”) outbreak a pandemic. The full extent to which COVID-19 will directly or indirectly impact the Company’s business, results of operations and financial condition, including net product revenue, cost and expenses, reserves and allowances, manufacturing and clinical trials, may still not be known and will depend on future developments that continue to be uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain or treat it, as well as the economic impact on eye-care professionals, patients, third parties and markets. Actual results could differ from the Company’s estimates.
Segment Information	Operating segments are defined as components of an enterprise about which separate discrete information is available for evaluation by the chief operating decision-maker, or decision-making group, in deciding how to allocate resources and in assessing performance. The Company views its operations and manages its business as one operating segment.
Concentration of Risk	Financial instruments that potentially subject the Company to concentrations of credit risk consist of cash, cash equivalents and investments. The Company’s cash and cash equivalents, which include short-term highly liquid investments with original maturities of three months or less, are held at several financial institutions. The Company’s investment policy permits investments in U.S. federal government and federal agency securities, corporate bonds or commercial paper, money market instruments, and certain qualifying money market mutual funds, and places restrictions on credit ratings, maturities, and concentration by type and issuer. The Company is exposed to credit risk in the event of a default by the financial institutions holding its cash, cash equivalents and investments to the extent recorded on the consolidated balance sheet. The Company relies on its manufacturing plant in Athlone, Ireland, and its contract manufacturers to produce commercial supplies of Rhopressa ® and Rocklatan ® , as well as its third-party manufacturers to produce the active pharmaceutical ingredient (“API”). The Company may rely on a combination of internal manufacturing and third-party manufacturers for its current and future product candidates. The Athlone manufacturing plant manufactures most of the Company’s needs for Rhopressa ® and Rocklatan ® in the United States. See Note 1 for additional information. As the Athlone manufacturing plant commenced operations in early 2020, it has not reached full capacity. The Company expects that the Athlone manufacturing plant will have adequate capacity to produce for the markets included in the Santen Agreements, as needed which include Europe, Japan, East Asia and certain other regions, if approved for commercial distribution in those markets . The Company may continue to use contract manufacturers to produce commercial supplies of Rhopressa ® and Rocklatan ® for distribution in the United States , but at reduced levels as a result of the Athlone manufacturing plant commencing manufacturing operations . In addition to the current contract manufacturers, the Company obtained FDA approval for an additional Rhopressa ® drug product contract manufacturer, which began to supply commercial product in the second quarter of 2019. Further, the Company obtained FDA approval for an additional API contract manufacturer, which began to supply commercial API in the second quarter of 2019. The Company also received FDA approval of an additional Rocklatan ® drug product contract manufacturer, which began to supply commercial product in the first quarter of 2020. Latanoprost, used in the manufacture of Rocklatan ® , is available in commercial quantities from multiple reputable third-party manufacturers.
Revenue Recognition	The Company accounts for its revenue transactions under Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 606, Revenue from Contracts with Customers (“ASC Topic 606”). In accordance with ASC Topic 606, the Company recognizes revenues when its customers obtain control of its product for an amount that reflects the consideration it expects to receive from its customers in exchange for that product. To determine revenue recognition for contracts that are determined to be in scope of ASC Topic 606, the Company performs the following five steps: (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations in the contract; and (v) recognize revenue when (or as) the Company satisfies the performance obligation. The Company only applies the five-step model to contracts when it is probable that the Company will collect the consideration it is entitled to in exchange for the goods or services it transfers to the customer. Once the contract is determined to be within the scope of ASC Topic 606, the Company assesses the goods or services promised within each contract and determines those that are performance obligations and assesses whether each promised good or service is distinct. The Company then recognizes as revenue the amount of the transaction price that is allocated to the respective performance obligation when such performance obligation is satisfied. Product Revenues Aerie’s customers include a limited number of national and select regional wholesalers (the “distributors”). These distributors subsequently resell the product, primarily to retail pharmacies that dispense the product to patients. Net product revenue is typically recognized when distributors obtain control of the Company’s products, which occurs at a point in time, typically upon delivery of product to the distributors. The Company evaluates the creditworthiness of each of its distributors to determine whether it is probable that a significant reversal in the amount of the cumulative revenue recognized will not occur. The Company does not assess whether a contract has a significant financing component if the expectation is such that the period between the transfer of the promised goods to the customer and the receipt of payment will be less than one year. Standard credit terms do not exceed 75 days. The Company expenses incremental costs of obtaining a contract as and when incurred if the expected amortization period of the asset that would have been recognized is one year or less or the amount is immaterial. Shipping and handling costs related to the Company’s product sales are included in selling, general and administrative expenses. The Company’s net product revenues through December 31, 2021 were generated through sales of Rhopressa ® and Rocklatan ® . Product revenues are recorded net of trade discounts, allowances, commercial and government rebates, co-pay program coupons, chargebacks, U.S. government funding requirements for the coverage gap (commonly called the “donut hole”) portion of the Medicare Part D program and estimated returns and other incentives. These reserves are classified as either reductions of accounts receivable or as current liabilities. The estimates of reserves established for variable consideration reflect current contractual and statutory requirements, known market events and trends, industry data, forecasted customer mix and lagged claims. The transaction price, which includes variable consideration reflecting the impact of discounts and allowances, may be subject to constraint and is included in the net product revenues only to the extent that it is probable that a significant reversal of the amount of the cumulative revenues recognized will not occur in a future period. Actual amounts may ultimately differ from these estimates. If actual results vary, estimates may be adjusted in the period such change in estimate becomes known, which could have an impact on earnings in the period of adjustment. See Note 3 for additional information. Contract Revenues from License Agreements In the normal course of business, the Company conducts research and development activities pursuant to which the Company may license certain rights of its intellectual property to third parties. The terms of these arrangements typically include payment to the Company for a combination of one or more of the following: upfront license fees; development, regulatory and sales-based milestone payments; clinical or commercial supply services and royalties on net sales of licensed products. The Company would first assess any arrangements under ASC Topic 808 , Collaborative Arrangements (“ASC Topic 808”) to determine whether the agreement (or part of the agreement) represents a collaborative arrangement based on the risks and rewards and activities of the parties. The Company accounts for collaborative arrangements (or elements within the contract that are deemed part of a collaborative arrangement), which represent a collaborative relationship and not a customer relationship, outside the scope of ASC Topic 606. For arrangements within the scope of ASC Topic 606, in determining the appropriate amount of revenue to be recognized as it fulfills its obligations under its agreements, the Company performs the five steps outlined in “— Revenue Recognition ” above. As part of the accounting for these arrangements, the Company must use judgment to determine: (a) the performance obligations based on the determination under step (ii) above; (b) the transaction price under step (iii) above; (c) the stand-alone selling price for each performance obligation identified in the contract for the allocation of transaction price under step (iv) above; and (d) in some circumstances when control transfers and the appropriate measure of progress in order to recognize revenue under step (v) above. The Company uses judgment to determine whether milestones or other variable consideration should be included in the transaction price as described further below. The transaction price is allocated to each performance obligation on a relative stand-alone selling price basis, for which the Company recognizes revenue as or when the performance obligations under the contract are satisfied. Amounts received prior to revenue recognition are recorded as deferred revenue. Amounts expected to be recognized as revenue within the 12 months following the balance sheet date are classified as current portion of deferred revenue in the Company’s consolidated balance sheets. Amounts not expected to be recognized as revenue within the 12 months following the balance sheet date are classified as deferred revenue, non-current. Upfront license fees : If the license to the Company’s intellectual property is determined to be distinct from the other performance obligations identified in the arrangement, the Company will recognize revenue from upfront license fees allocated to the license when the license is transferred to the licensee and the licensee is able to use and benefit from the license. For licenses that are bundled with other promises, the Company determines whether the combined performance obligation is satisfied over time or at a point in time. Development, regulatory or commercial milestone payments : At the inception of each arrangement that includes payments based on the achievement of certain development, regulatory and sales-based or commercial events, the Company evaluates whether the milestones are considered probable of being achieved and estimates the amount to be included in the transaction price using the most likely amount method. If it is probable that a significant revenue reversal would not occur, the associated milestone value is included in the transaction price. Milestone payments that are not within the Company’s or the licensee’s control, such as regulatory approvals, are not considered probable of being achieved until uncertainty associated with the approvals has been resolved. At the end of each subsequent reporting period, the Company will re-evaluate the probability of achieving such development and regulatory milestones and any related constraint, and if necessary, adjust the Company’s estimate of the overall transaction price. Any such adjustments are recorded on a cumulative catch-up basis and recorded as part of license revenues from collaborations during the period of adjustment. Clinical or commercial supply services : Arrangements that include a promise for the future supply of drug product for either clinical development or commercial supply at the licensee’s discretion are generally considered as customer options. The Company assesses if these options provide a material right to the licensee and if so, they would be accounted for as separate performance obligations. Sales-based milestone payments and royalties : For arrangements that include sales-based royalties, including milestone payments based on the volume of sales, the Company will determine whether the license is deemed to be the predominant item to which the royalties or sales-based milestones relate and if such is the case, the Company will recognize revenue at the later of (i) when the related sales occur, or (ii) when the performance obligation to which some or all of the royalty has been allocated has been satisfied (or partially satisfied). Upfront payments and fees may require deferral of revenue recognition to a future period until the Company performs its obligations under these arrangements or when it is probable that a significant reversal in the amount of cumulative revenue recognized will not occur when the uncertainty associated with any variable consideration is subsequently resolved. Amounts payable to the Company are recorded as accounts receivable when the Company’s right to consideration is unconditional. The Company does not assess whether a contract has a significant financing component if the expectation at contract inception is such that the period between payment by the customer and the transfer of the promised goods or services to the customer will be one year or less.
Cash Equivalents	The Company’s cash and cash equivalents are held at several financial institutions. The Company considers money market accounts and short-term highly liquid investments with original maturities of three months or less to be cash equivalents.
Credit Losses	Trade accounts receivable : The allowance for doubtful accounts is based on the Company’s assessment of the collectability of customer accounts. The Company regularly reviews the allowance by considering factors such as historical experience, creditworthiness of its customers, the age of the accounts receivable balances and current economic conditions that may affect a customer’s ability to pay. Available-for-sale investments : The Company’s investments in debt securities can consist of U.S. federal government and federal agency securities, corporate bonds or commercial paper, money market instruments and certain qualifying money market mutual funds. The investments are short-term in nature and are rated investment grade by at least one bond credit rating service.
Inventories	Inventories are stated at the lower of cost or net realizable value. The Company determines the cost of inventory using the first-in, first-out (“FIFO”) method. The Company analyzes its inventory levels at least quarterly and writes down inventory that is expected to expire prior to being sold, inventory in excess of expected sales requirements and inventory that fails to meet commercial sale specifications, with a corresponding charge to cost of goods sold. The determination of whether inventory costs will be realizable requires estimates by management of future expected inventory requirements based on sales forecasts. If actual net realizable value is less than the estimated amount or if actual market conditions are less favorable than the Company’s projections, additional inventory write-downs may be required. Charges for inventory write-downs are not reversed if it is later determined that the product is saleable.Prior to the date the Company obtains regulatory approval for its product candidates or its manufacturing facilities such as its manufacturing plant in Athlone, Ireland, manufacturing costs related to commercial production are expensed as pre-approval commercial manufacturing expense in the Company’s consolidated statements of operations and comprehensive loss. Once regulatory approval is obtained, the Company capitalizes such costs as inventory in its consolidated balance sheets.
Property, Plant and Equipment, Net	Property, plant and equipment are recorded at historical cost. Depreciation is calculated using the straight-line method over the estimated useful lives of the related assets. Construction-in-progress reflects amounts incurred for property, plant or equipment construction or improvements that have not been yet placed in service and are not depreciated or amortized, which primarily relates to the completion of the Company’s manufacturing plant in Athlone, Ireland. Repairs and maintenance are expensed when incurred. Upon retirement or sale, the cost of the assets disposed of and the related accumulated depreciation are removed from the accounts, and any resulting gain or loss is included in the determination of net loss. Estimated useful lives by major asset category are as follows: Manufacturing equipment 10 years Laboratory equipment 7 years Furniture and fixtures 5 years Software, computer and other equipment 3 years Leasehold improvements Lower of estimated useful life or term of lease
Leases	The Company accounts for its lease transactions under FASB ASC Topic 842, Leases (“ASC Topic 842”). In accordance with ASC Topic 842, the Company determines if an arrangement is a lease at inception. For each lease, the lease term is determined at the commencement date and includes renewal options and termination options when it is reasonably certain that the Company will exercise that option. Operating leases with lease terms greater than one year are included in operating lease right-of-use (“ROU”) assets and current and non-current operating lease liabilities in the Company’s consolidated balance sheets. Operating lease ROU assets represent the right to use an underlying asset for the lease term and lease liabilities represent the obligation to make lease payments arising from the lease. Operating lease liabilities are recognized at commencement date based on the present value of lease payments over the lease term using an estimated rate of interest the Company would have to pay to borrow equivalent funds on a collateralized basis at the lease commencement date. The operating lease ROU assets are based on the liability adjusted for any prepaid or deferred rent and lease incentives. The incremental borrowing rate was utilized to discount lease payments over the expected term given that the Company’s operating leases do not provide an implicit rate. The Company estimates the incremental borrowing rate to reflect the profile of secured borrowing over the expected term of the leases based on the information available at the later of the date of adoption or the lease commencement date. Rent expense for the operating lease is recognized on a straight-line basis over the lease term. The Company’s lease agreements have lease and non-lease components, which are generally accounted for as a single lease component. Non-lease components include lease operating expenses, which are variable costs under the Company’s current leases. For vehicle leases, the Company accounts for the lease and non-lease components as a single lease component and applies a portfolio approach to effectively account for the operating lease ROU assets and liabilities.
Impairment of Long-Lived Assets	The Company reviews its long-lived assets for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Recoverability is measured by a comparison of the carrying amount of an asset or asset group to estimated undiscounted future cash flows expected to be generated by the asset or asset group. If the carrying amount of an asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset.
Acquisitions	The Company evaluates acquisitions to determine whether the acquisition is a business combination or an acquisition of assets under ASC Topic 805. Business combinations are accounted for using the acquisition method of accounting, whereby assets acquired and liabilities assumed are recorded as of the acquisition date at their respective fair values and excess of the fair value of the consideration transferred over the fair value of the net assets acquired is recorded as goodwill. In an asset acquisition that does not constitute a business, no goodwill is recognized, and the net assets acquired are generally recorded at cost. Significant judgment is required in estimating the fair value of intangible assets and in a determination of whether an acquisition is a business combination or an acquisition of assets. The fair value estimates are based on available historical information and on future expectations and assumptions deemed reasonable by management, but are inherently uncertain.
Research and Development Costs	Research and development costs are charged to expense as incurred and include, but are not limited to: • employee-related expenses including salaries, benefits, travel and stock-based compensation expense for research and development personnel; • expenses incurred under agreements with contract research organizations (“CROs”), contract manufacturing organizations and service providers that assist in conducting clinical and preclinical studies; • costs associated with any collaboration arrangements, licenses or acquisitions of preclinical molecules, product candidates or technologies; • costs associated with preclinical activities and development activities; • costs associated with regulatory operations; and • depreciation expense for assets used in research and development activities. Costs for certain development activities, such as clinical studies, are recognized based on an evaluation of the progress to completion of specific tasks using data such as patient enrollment, clinical site activations, or information provided to the Company by its vendors on their actual costs incurred. Payments for these activities are based on the terms of the individual arrangements, which may differ from the patterns of costs incurred, and are reflected in the consolidated financial statements as prepaid expenses or accrued expenses as deemed appropriate. No material adjustments to these estimates have been recorded in these consolidated financial statements. Research and development costs also include the cost of in-process research and development (“IPR&D”) projects acquired as part of an asset acquisition that have no alternative future use. Milestone payments due to third parties in connection with research and development activities prior to regulatory approval are expensed as incurred, while milestone payments due to third parties upon, or subsequent to, regulatory approval are capitalized and amortized over the estimated useful life.
Stock-Based Compensation	Stock-based compensation for awards granted to employees and non-employees is measured at grant date, based on the estimated fair value of the award. The Company estimates the fair value of options to purchase common stock and stock appreciation rights (“SARs”) using a Black-Scholes option pricing model. The Black-Scholes option pricing model utilizes assumptions including expected term, volatility, a risk-free interest rate and an expected dividend yield. The Company utilized the guidance set forth in the Securities and Exchange Commission (“SEC”) Staff Accounting Bulletin 107, Share-Based Payment (“SAB 107”), to determine the expected term of options, as it does not have sufficient historical exercise and post-vesting termination data to provide a reasonable basis upon which to estimate the expected term of stock options granted to employees. The simplified method utilizes the midpoint between the vesting date and the maximum contractual expiration date as the expected term. Volatility is based on the historical volatility of the Company as well as several public entities that are similar to the Company. The risk-free interest rate is based on the yields of U.S. Treasury securities with maturities similar to the expected term. The Company uses an expected dividend yield of zero as it does not expect to pay cash dividends for the foreseeable future. Upon issuance and at each reporting period, the fair value of each SARs award is estimated using the Black-Scholes option pricing model and is marked to market through stock-based compensation expense. SARs are liability-based awards as they may only be settled in cash. The fair value of restricted stock awards (“RSAs”) and restricted stock units (“RSUs”), including restricted stock awards with non-market performance and service conditions (“PSAs”) are determined based on the fair value of Aerie’s common stock on the date of grant. Compensation expense related to RSAs and RSUs are recognized ratably over the vesting period. As the PSAs have multiple performance conditions, compensation expense is recognized for each vesting tranche over the respective requisite service period of each tranche if and when the Company’s management deems it probable that the performance conditions will be satisfied. Stock-based compensation related to stock options, RSAs, RSUs and PSAs is expensed on a straight-line basis over the relevant vesting period, although the Company may recognize a cumulative true-up adjustment related to PSAs once a condition becomes probable of being satisfied if the related service period had commenced in a prior period. All stock-based compensation expense is recorded between selling, general and administrative, pre-approval commercial manufacturing, research and development costs and cost of goods sold in the consolidated statements of operations and comprehensive loss based upon the underlying employees’ roles within the Company. A change in the terms or conditions of a share-based payment award is accounted for as a modification (that is, an exchange of the original award for a new award), unless the award’s fair value, vesting conditions, and classification as an equity or liability instrument are the same as immediately before and after the change. The Company accounts for forfeitures as they occur.
Investments	The Company determines the appropriate classification of its investments in debt and equity securities at the time of purchase. The Company’s investments are comprised of debt securities, including commercial paper and corporate bonds, that are classified as available-for-sale in accordance with ASC Topic 320, Investments—Debt and Equity Securities . The Company classifies investments available to fund current operations as current assets on its consolidated balance sheets. Investments are classified as long-term assets on the consolidated balance sheets if (i) the Company has the intent and ability to hold the investments for a period of at least one year and (ii) the contractual maturity date of the investments is greater than one year. Available-for-sale investments in debt securities are recorded at fair value, with unrealized gains or losses included in comprehensive loss on the consolidated statements of operations and comprehensive loss and in accumulated other comprehensive loss on the consolidated balance sheets. The Company’s investments also included equity securities, which in accordance with the fair value hierarchy described below are recorded at fair value using Level l inputs in the Company’s consolidated balance sheets and the subsequent changes in fair values are recorded in other income (expense), net in the Company’s consolidated statements of operations and comprehensive loss. Realized gains and losses, interest income earned on the Company’s cash, cash equivalents and investments, and amortization or accretion of discounts and premiums on investments are included within other income (expense), net in the Company’s consolidated statements of operations and comprehensive loss. Realized gains and losses are determined using the specific identification method and are included as a component of other income (expense), net.
Fair Value Measurements	The Company records certain financial assets and liabilities at fair value in accordance with the provisions of ASC Topic 820, Fair Value Measurements and Disclosures . As defined in the guidance, fair value, defined as an exit price, represents the amount that would be received to sell an asset or pay to transfer a liability in an orderly transaction between market participants. As a result, fair value is a market-based approach that should be determined based on assumptions that market participants would use in pricing an asset or a liability. As a basis for considering these assumptions, the guidance defines a three-tier value hierarchy that prioritizes the inputs used in the valuation methodologies in measuring fair value. • Level 1—Unadjusted quoted prices in active, accessible markets for identical assets or liabilities. • Level 2—Other inputs that are directly or indirectly observable in the marketplace. • Level 3—Unobservable inputs that are supported by little or no market activity. The fair value hierarchy also requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value.
Convertible Notes Transactions	The Company separately accounts for the liability and equity components of convertible notes transactions that can be settled in cash by allocating the proceeds from issuance between the liability component and the embedded conversion option in accordance with accounting for convertible debt instruments that may be settled in cash (including partial cash settlement) upon conversion. The value of the equity component is calculated by first measuring the fair value of the liability component, using the interest rate of a similar liability that does not have a conversion feature, as of the issuance date. The difference between the proceeds from the convertible debt issuance and the amount measured as the liability component is recorded as the equity component with a corresponding discount recorded on the debt. The Company recognizes amortization of the resulting discount using the effective interest method as interest expense on the consolidated statements of operations and comprehensive loss. The equity component is not remeasured as long as it continues to meet the conditions for equity classification. The Company allocates issuance costs incurred to the liability and equity components. Issuance costs attributable to the liability component are amortized to expense on an effective interest basis over the respective term of the convertible notes, and issuance costs attributable to the equity component are netted with the respective equity component in additional paid-in capital. In September 2019, the Company bought capped call options from financial institutions to minimize the impact of potential dilution of Aerie common stock upon conversion of the Convertible Notes. The capped call options meet the definition of a derivative in accordance with ASC 815, Derivatives and Hedging
Comprehensive Loss	Comprehensive loss is comprised of net loss and other comprehensive loss. Other comprehensive loss includes changes in stockholders’ equity that are excluded from net income (loss), specifically changes in unrealized gains and losses on the Company’s available-for-sale debt securities.
Income Taxes	Deferred tax assets or liabilities are recorded for temporary differences between financial statement and tax basis of assets and liabilities, using enacted rates in effect for the year in which the differences are expected to reverse. A valuation allowance is recorded if it is more likely than not that a deferred tax asset will not be realized. The Company has provided a full valuation allowance on its deferred tax assets as of December 31, 2021 and 2020. See Note 11 for additional information. As of December 31, 2021 and 2020, the Company had no uncertain tax positions. The Company recognizes the impact of an uncertain tax position in the consolidated financial statements only if it is more likely than not that the tax position will be sustained upon examination by the taxing authorities. The Company’s policy is to record interest and penalties on uncertain tax positions as income tax expense. The Company did not recognize interest or penalties on uncertain tax positions for the years ended December 31, 2021, 2020 or 2019. The Company is subject to global intangible low-taxed income (“GILTI”), an incremental tax on non-U.S. income. The Company’s policy is to account for the tax effects of these provisions in the period that is subject to such tax.
Adoption of New Accounting Standards and Recently Issued Accounting Standards	Adoption of New Accounting Standards In December 2019, the FASB issued ASU 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”), which simplifies the accounting for income taxes by removing certain exceptions related to the approach for intraperiod tax allocation, the methodology for calculating income taxes in an interim period and the recognition of deferred tax liabilities for outside basis differences. The new ASU also simplifies aspects of the accounting for franchise taxes and enacted changes in tax laws or rates. These changes aim to improve the overall usefulness of disclosures to financial statement users and reduce unnecessary costs to companies when preparing the disclosures. The guidance became effective for the Company beginning on January 1, 2021. The adoption of ASU 2019-12 did not have a material impact on its consolidated financial statements and disclosures. Recently Issued Accounting Standards In August 2020, the FASB issued ASU 2020-06, Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity's Own Equity (“ASU 2020-06”). This ASU simplifies the complexity associated with applying GAAP for certain financial instruments with characteristics of liabilities and equity. More specifically, the amendments focus on the guidance for convertible instruments and derivative scope exception for contracts in an entity’s own equity. Under ASU 2020-06, the embedded conversion features are no longer separated from the host contract for convertible instruments with conversion features that are not required to be accounted for as derivatives under Topic 815, or that do not result in substantial premiums accounted for as paid-in capital. Consequently, a convertible debt instrument, such as the Company’s 1.50% Convertible Senior Notes, will be accounted for as a single liability measured at its amortized cost, as long as no other features require bifurcation and recognition as derivatives. The new guidance also requires the if-converted method to be applied for all convertible instruments and requires additional disclosures. The guidance is effective for the Company beginning January 1, 2022, and will be applied using a modified retrospective approach through a cumulative-effect adjustment to retained earnings as of the effective date. The impact of adopting ASU 2020-06 on January 1, 2022, will be comprised of a $124.7 million decrease to additional paid-in capital, a $76.7 million increase to convertible notes, net to reduce debt discounts and a $48.0 million decrease to accumulated deficit. Upon adoption of ASU 2020-06, the Company’s interest expense will decrease which primarily relates to no longer recognizing discount amortization, partially offset by an increase in amortization of debt issuance costs.
Net Loss per Common Share	Basic net loss per common share (“Basic EPS”) is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding for the period, without consideration for potentially dilutive securities with the exception of warrants for common stock with a $0.05 exercise price, which are exercisable for nominal consideration and are therefore included in the calculation of the weighted-average number of shares of common stock as common stock equivalents. Diluted net loss per share (“Diluted EPS”) gives effect to all dilutive potential shares of common stock outstanding during the periods presented. Diluted EPS is calculated by dividing the net loss by the weighted average number of shares of common stock outstanding for the period, including the dilutive effect of stock options, unvested restricted stock and restricted stock units using the treasury stock method. The Company intends to pay cash upon conversion of the Convertible Notes, and consequently does not include the conversion value of the Convertible Notes in the diluted earnings per share computation. For Diluted EPS, net loss used in calculating Basic EPS may be adjusted for certain items related to the dilutive securities. Given that the Company recorded a net loss for the periods presented, there is no difference between the basic and diluted net loss per share since the effect of common stock equivalents would be anti-dilutive and are, therefore, excluded from the net loss per share calculations.

Significant Accounting Polici_3

Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Estimated Useful Lives	Estimated useful lives by major asset category are as follows: Manufacturing equipment 10 years Laboratory equipment 7 years Furniture and fixtures 5 years Software, computer and other equipment 3 years Leasehold improvements Lower of estimated useful life or term of lease Property, plant and equipment, net consists of the following: (in thousands) DECEMBER 31, 2021 2020 Manufacturing equipment $ 22,464 $ 21,705 Laboratory equipment 9,182 7,948 Furniture and fixtures 1,569 1,681 Software, computer and other equipment 7,779 7,836 Leasehold improvements 31,175 30,178 Construction-in-progress 2,037 1,481 Property, plant and equipment 74,206 70,829 Less: Accumulated depreciation (22,734) (16,569) Property, plant and equipment, net $ 51,472 $ 54,260
Schedule of Computation of Diluted EPS	The potential common stock equivalents that have been excluded from the computation of Diluted EPS consist of the following: DECEMBER 31, 2021 2020 2019 Outstanding stock options 6,550,610 8,588,614 8,425,551 Stock purchase warrants — — 4,500 Nonvested restricted stock awards 977,244 809,527 754,415 Nonvested restricted stock units 156,873 107,182 41,811 Total 7,684,727 9,505,323 9,226,277

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract]
Schedule of Cash, Cash Equivalents and Investments	Cash, cash equivalents and investments as of December 31, 2021 included the following: GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR (in thousands) COST GAINS LOSSES VALUE Cash and cash equivalents: Cash and cash equivalents $ 37,187 $ — $ — $ 37,187 Total cash and cash equivalents $ 37,187 $ — $ — $ 37,187 Investments: Certificates of deposit (due within 1 year) $ 9,047 $ — $ (9) $ 9,038 Commercial paper (due within 1 year) 50,975 — (55) $ 50,920 Corporate bonds (due within 1 year) 42,718 — (62) 42,656 U.S. Government and government agencies (due within 1 year) — — Total investments $ 102,740 $ — $ (126) $ 102,614 Total cash, cash equivalents and investments $ 139,927 $ — $ (126) $ 139,801 Cash, cash equivalents and investments as of December 31, 2020 included the following: GROSS GROSS AMORTIZED UNREALIZED UNREALIZED FAIR (in thousands) COST GAINS LOSSES VALUE Cash and cash equivalents: Cash and cash equivalents $ 151,570 $ — $ — $ 151,570 Total cash and cash equivalents $ 151,570 $ — $ — $ 151,570 Investments: Commercial paper (due within 1 year) $ 44,122 $ 5 $ (23) $ 44,104 Corporate bonds (due within 1 year) 44,724 3 (37) 44,690 Total investments $ 88,846 $ 8 $ (60) $ 88,794 Total cash, cash equivalents and investments $ 240,416 $ 8 $ (60) $ 240,364

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2021
Fair Value Disclosures [Abstract]
Schedule of Fair Value Measurements	The following tables summarize the fair value of financial assets and liabilities that are measured at fair value and the classification by level of input within the fair value hierarchy: FAIR VALUE MEASUREMENTS AS OF DECEMBER 31, 2021 (in thousands) LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Cash and cash equivalents: Cash and cash equivalents $ 37,187 $ — $ — $ 37,187 Total cash and cash equivalents: $ 37,187 $ — $ — $ 37,187 Investments: Certificates of deposit $ — $ 9,038 $ — 9,038 Commercial paper — 50,920 — 50,920 Corporate bonds — 42,656 — 42,656 Total investments $ — $ 102,614 $ — $ 102,614 Total cash, cash equivalents and investments: $ 37,187 $ 102,614 $ — $ 139,801 FAIR VALUE MEASUREMENTS AS OF DECEMBER 31, 2020 (in thousands) LEVEL 1 LEVEL 2 LEVEL 3 TOTAL Cash and cash equivalents: Cash and cash equivalents $ 151,570 $ — $ — $ 151,570 Total cash and cash equivalents: $ 151,570 $ — $ — $ 151,570 Investments: Commercial paper $ — $ 44,104 $ — $ 44,104 Corporate bonds — 44,690 — 44,690 Total investments $ — $ 88,794 $ — $ 88,794 Total cash, cash equivalents and investments: $ 151,570 $ 88,794 $ — $ 240,364

Inventory (Tables)

Inventory (Tables)	12 Months Ended
	Dec. 31, 2021
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consists of the following: DECEMBER 31, (in thousands) 2021 2020 Raw materials $ 5,368 $ 1,875 Work-in-process 30,989 21,648 Finished goods 4,053 3,536 Total inventory $ 40,410 $ 27,059

Property, Plant and Equipment_2

Property, Plant and Equipment, Net (Tables)	12 Months Ended
	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Schedule of Property, Plant and Equipment, Net	Estimated useful lives by major asset category are as follows: Manufacturing equipment 10 years Laboratory equipment 7 years Furniture and fixtures 5 years Software, computer and other equipment 3 years Leasehold improvements Lower of estimated useful life or term of lease Property, plant and equipment, net consists of the following: (in thousands) DECEMBER 31, 2021 2020 Manufacturing equipment $ 22,464 $ 21,705 Laboratory equipment 9,182 7,948 Furniture and fixtures 1,569 1,681 Software, computer and other equipment 7,779 7,836 Leasehold improvements 31,175 30,178 Construction-in-progress 2,037 1,481 Property, plant and equipment 74,206 70,829 Less: Accumulated depreciation (22,734) (16,569) Property, plant and equipment, net $ 51,472 $ 54,260

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2021
Leases [Abstract]
Schedule of Weighted Average Lease Term	DECEMBER 31, 2021 2020 Operating Leases Weighted-average remaining lease terms 8 years 8 years Weighted-average discount rate 8 % 9 %
Schedule of Maturity of Operating Lease Liabilities	Maturities of lease liabilities as of December 31, 2021 a re as follows: OPERATING (in thousands) LEASES Year Ending December 31, 2022 $ 4,447 2023 4,826 2024 4,297 2025 4,568 Thereafter 18,333 Total undiscounted lease payments 36,471 Less: present value adjustment (10,355) Total lease liabilities $ 26,116 Maturities of lease liabilities as of December 31, 2020 were as follows: OPERATING (in thousands) LEASES Year Ending December 31, 2021 $ 5,068 2022 2,467 2023 2,139 2024 1,764 Thereafter 10,424 Total undiscounted lease payments $ 21,862 Less: present value adjustment (6,733) Total lease liabilities $ 15,129

Accrued Expenses & Other Curr_2

Accrued Expenses & Other Current Liabilities (Tables)	12 Months Ended
	Dec. 31, 2021
Payables and Accruals [Abstract]
Schedule of Accrued Expenses & Other Current Liabilities	Accrued expenses and other current liabilities consist of the following: DECEMBER 31, (in thousands) 2021 2020 Accrued expenses and other current liabilities: Accrued compensation and benefits $ 15,881 $ 15,207 Accrued consulting and professional fees 5,007 2,645 Accrued research and development (1) 2,262 2,222 Accrued revenue reserves (2) 85,381 66,552 Accrued other (3) 3,810 4,097 Total accrued expenses and other current liabilities $ 112,341 $ 90,723 (1) Comprised primarily of accruals related to fees for investigative sites, contract research organizations and other service providers that assist in conducting preclinical research studies and clinical trials. (2) Comprised primarily of accruals related to commercial and government rebates as well as returns. The accrued revenue reserve at December 31, 2021 is higher than prior year primarily due to higher rebates largely driven by government sponsored programs. (3) Comprised primarily of accruals related to interest payable as well as other business-related expenses.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Convertible Debt	The following table summarizes the carrying value of the Convertible Notes: DECEMBER 31, (in thousands) 2021 2020 Gross proceeds $ 316,250 $ 316,250 Unamortized debt discount (78,395) (101,565) Unamortized issuance costs (3,328) (4,312) Carrying value $ 234,527 $ 210,373
Schedule of Interest Expense of Convertible Debt	The following table summarizes the interest expense recognized related to the Convertible Notes: DECEMBER 31, (in thousands) 2021 2020 2019 Stated interest $ 4,744 $ 4,751 $ 1,476 Amortized debt discount 23,170 20,837 5,989 Amortized issuance costs 983 885 254 Interest Expense $ 28,897 $ 26,473 $ 7,719

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Provision for Income Taxes	The provision for income taxes is based on net loss before income taxes as follows: DECEMBER 31, (in thousands) 2021 2020 2019 Net loss before income taxes: United States $ (138,323) $ (143,349) $ (153,620) Non-U.S. 64,106 (34,507) (46,051) Net loss before income taxes $ (74,217) $ (177,856) $ (199,671) DECEMBER 31, (in thousands, except percentages) 2021 2020 2019 Provision for income taxes: Current: United States $ — $ (33) $ (90) Non-U.S. 593 5,278 — Total $ 593 $ 5,245 $ (90) Deferred: United States $ — $ — $ — Non-U.S. — — — Total — — — Provision for income taxes $ 593 $ 5,245 $ (90) Effective tax rate (0.80) % (2.95) % 0.05 %
Schedule of Significant Components of Company's Net Deferred Income Tax Assets	Significant components of the Company’s net deferred income tax assets as of December 31, 2021 and 2020 consist of the following: DECEMBER 31, (in thousands) 2021 2020 Net deferred tax assets: Net operating loss carryforwards $ 178,597 $ 169,070 Stock-based compensation 21,603 29,884 U.S. tax credit carryforwards 16,489 13,526 Envisia asset acquisition 4,593 5,007 Basis difference in intangibles — 7,625 Convertible Notes (14,912) (19,028) Other assets 14,347 10,697 Other liabilities (7,938) (5,416) Valuation allowance (212,779) (211,365) Total net deferred income taxes $ — $ —
Schedule of Reconciliation of U.S. Statutory Rate and Effective Tax Rate	A reconciliation of the statutory tax rates and the effective tax rates for the years ended December 31, 2021, 2020 and 2019 is as follows: DECEMBER 31, 2021 2020 2019 U.S. federal tax rate 21.00 % 21.00 % 21.00 % GILTI (14.14) % — % — % State income taxes, net of federal benefit 1.96 % 4.02 % 4.97 % Non-taxable foreign loss 11.47 % (4.81) % (4.44) % Stock-based compensation (16.21) % (2.29) % (1.47) % Other (0.76) % 0.48 % 0.98 % Change in valuation allowance (4.12) % (21.35) % (20.99) % Effective tax rate (0.80) % (2.95) % 0.05 %

Stock-based Compensation (Table

Stock-based Compensation (Tables)	12 Months Ended
	Dec. 31, 2021
Share-based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	Stock-based compensation expense for options granted, RSAs, PSAs, RSUs, SARs and stock purchase rights is reflected in the consolidated statements of operations and comprehensive loss as follows: YEAR ENDED DECEMBER 31, (in thousands) 2021 2020 2019 Cost of goods sold $ 1,335 $ 2,353 $ — Selling, general and administrative 20,616 27,176 30,463 Pre-approval commercial manufacturing — 344 3,634 Research and development 7,573 10,222 10,996 Total $ 29,524 $ 40,095 $ 45,093
Schedule of Share-Based Payment Award, Stock Options, Valuation Assumptions	Weighted average assumptions utilized in the fair value calculation for options to purchase common stock as of December 31, 2021, 2020 and 2019 are as follows: YEAR ENDED 2021 2020 2019 Expected term (years) 6.0 6.0 6.0 Expected stock price volatility 68 % 74 % 74 % Risk-free interest rate 1.0 % 0.9 % 1.9 % Dividend yield — % — % — %
Schedule of Stock Options Activity	The following table summarizes the stock option activity under the Plans: NUMBER OF WEIGHTED AVERAGE WEIGHTED AGGREGATE Options outstanding at December 31, 2020 8,588,614 $ 27.36 Granted 1,614,997 13.92 Exercised (1,146,095) 3.20 Canceled (2,506,906) 31.02 Options outstanding at December 31, 2021 6,550,610 $ 26.87 6.4 $ 1,116 Options exercisable at December 31, 2021 4,449,867 $ 31.05 5.2 $ 1,116 Options vested and expected to vest at December 31, 2021 6,550,610 $ 26.87 6.4 $ 1,116
Schedule of Stock Options Outstanding and Exercisable Option Plans	The following table provides additional information about stock options that are outstanding and exercisable at December 31, 2021: EXERCISE OPTIONS WEIGHTED OPTIONS $0.20 - $10.00 735,309 6.7 288,083 $10.01 - $20.00 2,035,383 7.5 959,566 $20.01 - $30.00 1,794,790 5.3 1,391,071 $30.01 - $45.00 700,678 5.7 628,032 $45.01 - $55.00 753,011 6.2 682,273 $55.01 - $73.10 531,439 6.2 500,842 6,550,610 4,449,867
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity	The following table summarizes the RSA, including PSAs, activity under the Plans: NUMBER OF WEIGHTED AVERAGE Nonvested RSAs at December 31, 2020 809,527 $ 29.03 Granted 660,926 13.48 Vested (274,488) 33.70 Canceled (218,721) 24.03 Nonvested RSAs at December 31, 2021 977,244 $ 18.32 NUMBER OF WEIGHTED AVERAGE Nonvested RSUs at December 31, 2020 107,182 $ 14.43 Granted 100,322 15.48 Vested (30,958) 15.27 Canceled (19,673) 14.89 Nonvested RSUs at December 31, 2021 156,873 $ 14.88
Schedule of Stock Appreciation Rights	The following table summarizes the SARs activity under the Plans: NUMBER OF WEIGHTED AVERAGE WEIGHTED AGGREGATE SARs outstanding at December 31, 2020 212,044 $ 32.28 Granted 70,700 15.97 Exercised — — Canceled (44,395) 31.05 SARs outstanding at December 31, 2021 238,349 $ 27.67 3.04 $ — SARs exercisable at December 31, 2021 83,873 $ 38.63 2.11 $ —

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2021
Segment Reporting [Abstract]
Schedule of Long-Lived Assets by Location	The following table presents total long-lived assets by geographic location: DECEMBER 31, (in thousands) 2021 2020 United States $ 8,067 $ 8,391 Ireland 43,405 45,869 Total long-lived assets $ 51,472 $ 54,260

The Company (Details)

The Company (Details)	12 Months Ended
	Dec. 31, 2021USD ($)segmentproduct	Dec. 31, 2020USD ($)	Oct. 31, 2020USD ($)	Sep. 30, 2019USD ($)
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Number of operating segments | segment	1
Number U.S. FDA approved products | product	2
Upfront payment receivable	$ 88,000,000
Cash, cash equivalents and investments	139,801,000	$ 240,364,000
Collaborative Arrangement
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Supplemental upfront payment receivable	2,000,000
Second Santen Agreement | Santen
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Upfront payment receivable	88,000,000		$ 50,000,000
Supplemental upfront payment receivable	2,000,000
Convertible Senior Notes Due 2024 | Convertible debt
Organization, Consolidation and Presentation of Financial Statements [Line Items]
Principal amount	$ 316,250,000	$ 316,250,000		$ 316,250,000
Debt instrument, interest rate percentage				1.50%

Significant Accounting Polici_4

Significant Accounting Policies - Additional Information (Details)	12 Months Ended
	Dec. 31, 2021USD ($)segment$ / shares	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)	Aug. 31, 2020USD ($)	Sep. 30, 2019
Debt Instrument [Line Items]
Number of operating segments | segment	1
Impairment losses of long lived assets	$ 0	$ 0	$ 0
Recognized impairments on investments	$ 0	0	$ 0
Warrants exercise price (in dollars per share) | $ / shares	$ 0.05
Additional paid-in capital	$ 1,136,656,000	1,103,074,000
Accumulated deficit	$ (1,153,911,000)	$ (1,079,101,000)
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2020-06
Debt Instrument [Line Items]
Additional paid-in capital				$ (124,700,000)
Convertible debt				76,700,000
Accumulated deficit				$ 48,000,000
Convertible Senior Notes Due 2024 | Convertible debt
Debt Instrument [Line Items]
Debt instrument, interest rate percentage					1.50%

Significant Accounting Polici_5

Significant Accounting Policies - Schedule of Estimated Useful Lives (Details)	12 Months Ended
	Dec. 31, 2021
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Estimated useful life (years)	10 years
Laboratory equipment
Property, Plant and Equipment [Line Items]
Estimated useful life (years)	7 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Estimated useful life (years)	5 years
Software, computer and other equipment
Property, Plant and Equipment [Line Items]
Estimated useful life (years)	3 years

Significant Accounting Polici_6

Significant Accounting Policies - Schedule of Computation of Diluted EPS (Details) - shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock equivalents excluded from the computation of diluted net loss (in shares)	7,684,727	9,505,323	9,226,277
Outstanding stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock equivalents excluded from the computation of diluted net loss (in shares)	6,550,610	8,588,614	8,425,551
Stock purchase warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock equivalents excluded from the computation of diluted net loss (in shares)	0	0	4,500
Nonvested restricted stock awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock equivalents excluded from the computation of diluted net loss (in shares)	977,244	809,527	754,415
Nonvested restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential common stock equivalents excluded from the computation of diluted net loss (in shares)	156,873	107,182	41,811

Revenue Recognition (Details)

Revenue Recognition (Details) $ in Thousands	1 Months Ended		12 Months Ended
	Dec. 31, 2021USD ($)	Oct. 31, 2020USD ($)	Dec. 31, 2021USD ($)distributorobligation	Dec. 31, 2020USD ($)distributor	Dec. 31, 2019USD ($)distributor
Disaggregation of Revenue [Line Items]
Provision for revenue reserves to reduce product revenues to product revenues, net			$ 247,100	$ 202,200	$ 105,900
Upfront payment receivable	$ 88,000		88,000
Licensing revenue			194,134	83,138	$ 69,888
Prepaid expenses and other current assets	16,611		16,611	8,310
Santen
Disaggregation of Revenue [Line Items]
Repayment of upfront payment upon termination, amount	8,000
Collaborative Arrangement
Disaggregation of Revenue [Line Items]
Supplemental upfront payment receivable	$ 2,000		$ 2,000
First Santen Agreement
Disaggregation of Revenue [Line Items]
Upfront payment receivable		$ 50,000
Contingent payments receivable upon achievement of development and regulatory milestones (up to)		39,000
Contingent payments receivable upon achievement of commercial milestones (up to)		$ 60,000
First Santen Agreement | Santen
Disaggregation of Revenue [Line Items]
Royalty percentage (in excess of)		25.00%
Company's share of clinical trial costs, percentage		50.00%
Collaborative agreement, termination by counterparty, effective after written notice period		180 days
Collaborative agreement expiration, period after first commercial sale of product	3 years
Repayment of upfront payment upon termination, percentage		85.00%
Reimbursement of development expenses upon termination, percentage		50.00%
Number of performance obligations | obligation			2
Period before first commercial sale of product for company to enter manufacturing and supply agreement			24 months
Second Santen Agreement | Santen
Disaggregation of Revenue [Line Items]
Upfront payment receivable	$ 88,000	$ 50,000	$ 88,000
Contingent payments receivable upon achievement of development and regulatory milestones (up to)	15,500		15,500
Contingent payments receivable upon achievement of commercial milestones (up to)	60,000		60,000
Supplemental upfront payment receivable	$ 2,000		$ 2,000
Collaborative agreement, termination by counterparty, effective after written notice period	180 days
Collaborative agreement expiration, period after first commercial sale of product	3 years
Number of performance obligations | obligation			2
Licensing revenue			$ 82,000
Deferred revenue, non-current	$ 56,300		56,300	$ 50,800
Prepaid expenses and other current assets	6,300		6,300
Additional amount receivable, upon execution of collaboration agreement	$ 2,000		2,000
Second Santen Agreement | Expanded Territories Excluding China and India | Santen
Disaggregation of Revenue [Line Items]
Royalty percentage (in excess of)	25.00%
Second Santen Agreement | China and India | Santen
Disaggregation of Revenue [Line Items]
Royalty percentage (in excess of)	20.00%
Second Santen Agreement | Europe | Santen
Disaggregation of Revenue [Line Items]
Licensing revenue			80,000
Deferred revenue, non-current	$ 8,000		$ 8,000
Customer Concentration Risk | Sales Revenue, Net | Rhopressa And Rocklatan
Disaggregation of Revenue [Line Items]
Number of distributors | distributor			3	3	3
Customer Concentration Risk | Sales Revenue, Net | Rhopressa And Rocklatan | Distributor One
Disaggregation of Revenue [Line Items]
Concentration risk percentage			36.90%	37.40%	36.50%
Customer Concentration Risk | Sales Revenue, Net | Rhopressa And Rocklatan | Distributor Two
Disaggregation of Revenue [Line Items]
Concentration risk percentage			31.00%	32.40%	33.30%
Customer Concentration Risk | Sales Revenue, Net | Rhopressa And Rocklatan | Distributor Three
Disaggregation of Revenue [Line Items]
Concentration risk percentage			30.90%	28.80%	28.00%

Investments (Details)

Investments (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Cash and cash equivalents:
Amortized cost	$ 37,187	$ 151,570
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair value	37,187	151,570
Investments:
Amortized cost	102,740	88,846
Gross unrealized gains	0	8
Gross unrealized losses	(126)	(60)
Total investments	102,614	88,794
Total cash, cash equivalents and investments, amortized cost	139,927	240,416
Total cash, cash equivalents and investments, Gross Unrealized Gains	0	8
Total cash, cash equivalents and investments, Gross Unrealized Losses	(126)	(60)
Total cash, cash equivalents and investments, fair value	139,801	240,364
Cash and cash equivalents
Cash and cash equivalents:
Amortized cost	37,187	151,570
Gross unrealized gains	0	0
Gross unrealized losses	0	0
Fair value	37,187	151,570
Certificates of deposit (due within 1 year)
Investments:
Amortized cost	9,047
Gross unrealized gains	0
Gross unrealized losses	(9)
Total investments	9,038
Commercial paper (due within 1 year)
Investments:
Amortized cost	50,975	44,122
Gross unrealized gains	0	5
Gross unrealized losses	(55)	(23)
Total investments	50,920	44,104
Corporate bonds (due within 1 year)
Investments:
Amortized cost	42,718	44,724
Gross unrealized gains	0	3
Gross unrealized losses	(62)	(37)
Total investments	42,656	$ 44,690
U.S. Government and government agencies (due within 1 year)
Investments:
Amortized cost
Gross unrealized gains	0
Gross unrealized losses
Total investments	$ 0

Investments - Narrative (Detail

Investments - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Interest income	$ 0.1	$ 2	$ 3
Fair value	1.3
Realized loss	$ (1)

Fair Value Measurements - Summa

Fair Value Measurements - Summary of Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	$ 37,187	$ 151,570
Total investments	102,614	88,794
Total cash, cash equivalents and investments:	139,801	240,364
LEVEL 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	37,187	151,570
Total investments	0	0
Total cash, cash equivalents and investments:	37,187	151,570
LEVEL 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Total investments	102,614	88,794
Total cash, cash equivalents and investments:	102,614	88,794
LEVEL 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Total investments	0	0
Total cash, cash equivalents and investments:	0	0
Cash and cash equivalents
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	37,187	151,570
Cash and cash equivalents | LEVEL 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	37,187	151,570
Cash and cash equivalents | LEVEL 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Cash and cash equivalents | LEVEL 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Certificates of deposit (due within 1 year)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	9,038
Certificates of deposit (due within 1 year) | LEVEL 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	0
Certificates of deposit (due within 1 year) | LEVEL 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	9,038
Certificates of deposit (due within 1 year) | LEVEL 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	0
Commercial paper
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	50,920	44,104
Commercial paper | LEVEL 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	0	0
Commercial paper | LEVEL 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	50,920	44,104
Commercial paper | LEVEL 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	0	0
Corporate bonds
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	42,656	44,690
Corporate bonds | LEVEL 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	0	0
Corporate bonds | LEVEL 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	42,656	44,690
Corporate bonds | LEVEL 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total investments	$ 0	$ 0

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Details) - USD ($) $ in Millions	Dec. 31, 2021	Dec. 31, 2020
LEVEL 2
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Estimated fair value of the convertible notes	$ 270.4	$ 296.7

Inventory (Details)

Inventory (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Inventory Disclosure [Abstract]
Raw materials	$ 5,368	$ 1,875
Work-in-process	30,989	21,648
Finished goods	4,053	3,536
Total inventory	40,410	27,059
Idle capacity	$ 17,000	$ 17,000

Property, Plant and Equipment_3

Property, Plant and Equipment, Net - Property, Plant and Equipment, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 74,206	$ 70,829
Less: Accumulated depreciation	(22,734)	(16,569)
Property, plant and equipment, net	51,472	54,260
Manufacturing equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	22,464	21,705
Laboratory equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	9,182	7,948
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property, plant and equipment	1,569	1,681
Software, computer and other equipment
Property, Plant and Equipment [Line Items]
Property, plant and equipment	7,779	7,836
Leasehold improvements
Property, Plant and Equipment [Line Items]
Property, plant and equipment	31,175	30,178
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property, plant and equipment	$ 2,037	$ 1,481

Property, Plant and Equipment_4

Property, Plant and Equipment, Net - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 6,399	$ 6,366	$ 5,138

Leases - Additional Information

Leases - Additional Information (Details) ft² in Thousands, $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)ft²	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)
Operating Leased Assets [Line Items]
Operating lease, payments	$ 5.4	$ 6	$ 4.7
Operating lease right-of-use assets	13	1.9
Lease expense for operating lease	5.9	5.6
Variable lease payments for operating lease	$ 1.1	$ 0.7	1.3
Operating leases, rent expense			$ 5.3
Minimum
Operating Leased Assets [Line Items]
Remaining term of lease	1 year
Maximum
Operating Leased Assets [Line Items]
Remaining term of lease	16 years
North Carolina
Operating Leased Assets [Line Items]
Area of interior floor space | ft²	61
California
Operating Leased Assets [Line Items]
Area of interior floor space | ft²	27
New Jersey
Operating Leased Assets [Line Items]
Area of interior floor space | ft²	34
Ireland
Operating Leased Assets [Line Items]
Area of interior floor space | ft²	30

Leases - Schedule of Cash Flow

Leases - Schedule of Cash Flow Information (Details)	Dec. 31, 2021	Dec. 31, 2020
Operating Leases
Weighted-average remaining lease terms	8 years	8 years
Weighted-average discount rate	8.00%	9.00%

Leases - Schedule of Maturities

Leases - Schedule of Maturities of Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Next twelve months	$ 4,447	$ 5,068
Year two	4,826	2,467
Year three	4,297	2,139
Year four	4,568	1,764
Thereafter	18,333	10,424
Total undiscounted lease payments	36,471	21,862
Less: present value adjustment	(10,355)	(6,733)
Total lease liabilities	$ 26,116	$ 15,129

Accrued Expenses & Other Curr_3

Accrued Expenses & Other Current Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Accrued expenses and other current liabilities:
Accrued compensation and benefits	$ 15,881	$ 15,207
Accrued consulting and professional fees	5,007	2,645
Accrued research and development	2,262	2,222
Accrued revenue reserves	85,381	66,552
Accrued other	3,810	4,097
Total accrued expenses and other current liabilities	$ 112,341	$ 90,723

Debt - Convertible Notes (Detai

Debt - Convertible Notes (Details)	Sep. 04, 2019$ / shares$ / unit	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Dec. 31, 2021USD ($)d$ / shares	Dec. 31, 2019USD ($)	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Debt instrument trading days | d				20
Debt instrument consecutive trading day | d				30
Premiums for capped call options		$ 32,900,000			$ 32,890,000
Call Option
Debt Instrument [Line Items]
Capped price (in dollars per share) | $ / unit	37
Premium of cap price as a percentage of closing price	100.00%
Common Stock
Debt Instrument [Line Items]
Closing stock price (in dollars per share) | $ / shares	$ 18.50
Convertible Senior Notes Due 2024 | Convertible debt
Debt Instrument [Line Items]
Principal amount		$ 316,250,000		$ 316,250,000		$ 316,250,000
Debt instrument, interest rate percentage		1.50%
Debt Instrument, Convertible, Conversion Ratio	0.04004
Debt instrument, conversion price (in dollars per share) | $ / shares	$ 24.98			$ 24.98
Debt instrument, effective conversion price (in dollars per share) | $ / shares				$ 32.47
Stock price trigger, premium on closing price (as a percent)	35.00%
Redemption price (as a percent)				100.00%
Stock price trigger (as a percent)				130.00%
Equity component of convertible debt		$ 128,400,000
Debt issuance costs incurred			$ 9,200,000
Unamortized issuance costs			$ 5,500,000	$ 3,328,000	$ 5,500,000	$ 4,312,000
Debt issuance costs related with equity component of convertible debt				$ 3,700,000
Convertible Senior Notes Due 2024 | Convertible debt | LEVEL 3
Debt Instrument [Line Items]
Convertible notes, fair value of liability component		$ 187,900,000
Convertible notes fair value of liability component, effective interest rate percentage				10.50%

Debt - Reconciliation of Conver

Debt - Reconciliation of Convertible Debt (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2019
Debt Instrument [Line Items]
Carrying value	$ 234,527,000	$ 210,373,000
Convertible Senior Notes Due 2024 | Convertible debt
Debt Instrument [Line Items]
Gross proceeds	316,250,000	316,250,000		$ 316,250,000
Unamortized debt discount	(78,395,000)	(101,565,000)
Unamortized issuance costs	(3,328,000)	(4,312,000)	$ (5,500,000)
Carrying value	$ 234,527,000	$ 210,373,000

Debt - Interest Expense of Conv

Debt - Interest Expense of Convertible Notes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Interest Expense	$ 28,900	$ 26,500	$ 15,300
Convertible Senior Notes Due 2024 | Convertible debt
Debt Instrument [Line Items]
Stated interest	4,744	4,751	1,476
Amortized debt discount	23,170	20,837	5,989
Amortized issuance costs	983	885	254
Interest Expense	$ 28,897	$ 26,473	$ 7,719

Debt - 2014 Convertible Notes a

Debt - 2014 Convertible Notes and Credit Facility (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 30, 2019	May 31, 2019	Jul. 31, 2018
Debt Instrument [Line Items]
Interest Expense	$ 28,900,000	$ 26,500,000	$ 15,300,000
Delayed Draw Term Loan
Debt Instrument [Line Items]
Funds drawn at closing				$ 0
Revolving Credit Facility
Debt Instrument [Line Items]
Fee amount				6,500,000
Funds drawn at closing				0
Revolving Credit Facility | Delayed Draw Term Loan
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 200,000,000	$ 100,000,000	$ 100,000,000

Income Taxes - Provision for In

Income Taxes - Provision for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Net loss before income taxes:
United States	$ (138,323)	$ (143,349)	$ (153,620)
Non-U.S.	64,106	(34,507)	(46,051)
Loss before income taxes	(74,217)	(177,856)	(199,671)
Current:
United States	0	(33)	(90)
Non-U.S.	593	5,278	0
Total	593	5,245	(90)
Deferred:
United States	0	0	0
Non-U.S.	0	0	0
Total	0	0	0
Provision for income taxes	$ 593	$ 5,245	$ (90)
Effective tax rate (in percentage)	(0.80%)	(2.95%)	0.05%

Income Taxes - Summary of Signi

Income Taxes - Summary of Significant Components of Company's Net Deferred Income Tax Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Net deferred tax assets:
Net operating loss carryforwards	$ 178,597	$ 169,070
Stock-based compensation	21,603	29,884
U.S. tax credit carryforwards	16,489	13,526
Envisia asset acquisition	4,593	5,007
Basis difference in intangibles	0	7,625
Convertible Notes	(14,912)	(19,028)
Other assets	14,347	10,697
Other liabilities	(7,938)	(5,416)
Valuation allowance	(212,779)	(211,365)	$ (170,300)	$ (143,300)
Total net deferred income taxes	$ 0	$ 0

Income Taxes - Reconciliation o

Income Taxes - Reconciliation of U.S. Statutory Rate and Effective Tax Rate (Details)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Income Tax Disclosure [Abstract]
U.S. federal tax rate	21.00%	21.00%	21.00%
GILTI	(14.14%)	0.00%	0.00%
State income taxes, net of federal benefit	1.96%	4.02%	4.97%
Non-taxable foreign loss	11.47%	(4.81%)	(4.44%)
Stock-based compensation	(16.21%)	(2.29%)	(1.47%)
Other	(0.76%)	0.48%	0.98%
Change in valuation allowance	(4.12%)	(21.35%)	(20.99%)
Effective tax rate	(0.80%)	(2.95%)	0.05%

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Tax Credit Carryforward [Line Items]
Alternative minimum tax refund received		$ 800,000
Period of cumulative changes in ownership interests	3 years
Percentage of cumulative changes in ownership interests	50.00%
Valuation allowance	$ 212,779,000	211,365,000	$ 170,300,000	$ 143,300,000
Increase in valuation allowance	1,400,000	$ 41,100,000	$ 27,000,000
Unrecognized tax benefits	0
Federal tax authority
Tax Credit Carryforward [Line Items]
Net operating loss carry-forwards	635,100,000
State tax authority
Tax Credit Carryforward [Line Items]
Net operating loss carry-forwards	616,300,000
Foreign tax authority
Tax Credit Carryforward [Line Items]
Net operating loss carry-forwards	$ 66,000,000

Stock-based Compensation - Stoc

Stock-based Compensation - Stock-based Compensation Expense for Options Granted and Restricted Stock as Reflected in the Statement of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 29,524	$ 40,095	$ 45,093
Cost of goods sold
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	1,335	2,353	0
Selling, general and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	20,616	27,176	30,463
Pre-approval commercial manufacturing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	0	344	3,634
Research and development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based compensation expense	$ 7,573	$ 10,222	$ 10,996

Stock-based Compensation - Addi

Stock-based Compensation - Additional Information (Details) $ / shares in Units, $ in Thousands	Oct. 30, 2013shares	Dec. 31, 2021USD ($)plan$ / sharesshares	Sep. 30, 2019shares	Dec. 31, 2021USD ($)plan$ / sharesshares	Dec. 31, 2020USD ($)$ / sharesshares	Dec. 31, 2019USD ($)$ / shares	Dec. 31, 2017shares	Dec. 05, 2019shares	Dec. 31, 2018shares	Dec. 31, 2016shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense | $		$ 22,400		$ 22,400
Number of equity compensation plans | plan		3		3
Granted (in shares)				1,614,997
Weighted average grant date fair value (in dollars per share) | $ / shares				$ 8.57	$ 10.82	$ 20.70
Aggregate intrinsic value of options exercised | $				$ 7,500	$ 600	$ 4,200
Estimated fair value of common stock (in dollars per share) | $ / shares		$ 7.02		$ 7.02
Outstanding stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, weighted average recognition period				2 years 2 months 1 day
Restricted stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, weighted average recognition period				2 years 7 months 17 days
Unrecognized compensation expense | $		$ 12,600		$ 12,600
Shares issued (in shares)				660,926
Fair value of restricted stock vested | $				$ 9,200	$ 11,500	$ 9,800
Vested (in shares)				274,488
Non-vested shares cancelled and replaced (in shares)			43,071	218,721
Stock-based compensation, non vesting (in shares)		977,244		977,244	809,527
Restricted stock | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period				1 year
Restricted stock | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock-based awards, vesting period				4 years
Restricted Stock with Non-Market Performance Conditions
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)							98,817
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, weighted average recognition period				3 years
Unrecognized compensation expense | $		$ 3,000		$ 3,000
Shares issued (in shares)				100,322
Vested (in shares)				30,958
Non-vested shares cancelled and replaced (in shares)				19,673
Stock-based compensation, non vesting (in shares)		156,873	43,071	156,873	107,182
Employee stock purchase plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued (in shares)				645,814
Lump sum percentage (equal to)				85.00%
Fair value equivalent of common stock | $				$ 25
Amended And Restated Omnibus Incentive Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards (in shares)		10,229,068		10,229,068					4,500,000
Inducement Award Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Equity awards (in shares)							874,500	100,000		418,000
Shares issued (in shares)		602,952
Two Thousand and Five Aerie Pharmaceutical Stock Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Granted (in shares)	0

Stock-based Compensation - Sche

Stock-based Compensation - Schedule of Key Assumptions Utilized in Fair Value Calculation (Details) - Outstanding stock options	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Expected term (years)	6 years	6 years	6 years
Expected stock price volatility (in percentage)	68.00%	74.00%	74.00%
Risk-free interest rate (in percentage)	1.00%	0.90%	1.90%
Dividend yield (in percentage)	0.00%	0.00%	0.00%

Stock-based Compensation - Sc_2

Stock-based Compensation - Schedule of Stock Options Activity (Details) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)$ / sharesshares
NUMBER OF SHARES
Beginning balance (in shares) | shares	8,588,614
Granted (in shares) | shares	1,614,997
Exercised (in shares) | shares	(1,146,095)
Canceled (in shares) | shares	(2,506,906)
Ending balance (in shares) | shares	6,550,610
Options exercisable (in shares) | shares	4,449,867
Options vested and expected (in shares) | shares	6,550,610
WEIGHTED AVERAGE EXERCISE PRICE
Beginning balance (in dollars per share) | $ / shares	$ 27.36
Granted (in dollars per share) | $ / shares	13.92
Exercised (in dollars per share) | $ / shares	3.20
Canceled (in dollars per share) | $ / shares	31.02
Ending balance (in dollars per share) | $ / shares	26.87
Options exercisable (in dollars per share) | $ / shares	31.05
Options vested and expected (in dollars per share) | $ / shares	$ 26.87
WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE (YEARS)
Options outstanding (in years)	6 years 4 months 24 days
Options exercisable (in years)	5 years 2 months 12 days
Options vested and expected (in years)	6 years 4 months 24 days
AGGREGATE INTRINSIC VALUE
Options outstanding | $	$ 1,116
Options exercisable | $	1,116
Options vested and expected | $	$ 1,116

Stock-based Compensation - Sc_3

Stock-based Compensation - Schedule of Stock Options Outstanding and Exercisable Option Plans (Details)	12 Months Ended
	Dec. 31, 2021$ / sharesshares
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding (in shares)	6,550,610
Options exercisable (in shares)	4,449,867
Exercise Price One
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding (in shares)	735,309
Options outstanding, weighted average remaining contractual life (in years)	6 years 8 months 12 days
Options exercisable (in shares)	288,083
Exercise Price Two
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding (in shares)	2,035,383
Options outstanding, weighted average remaining contractual life (in years)	7 years 6 months
Options exercisable (in shares)	959,566
Exercise Price Three
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding (in shares)	1,794,790
Options outstanding, weighted average remaining contractual life (in years)	5 years 3 months 18 days
Options exercisable (in shares)	1,391,071
Exercise Price Four
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding (in shares)	700,678
Options outstanding, weighted average remaining contractual life (in years)	5 years 8 months 12 days
Options exercisable (in shares)	628,032
Exercise price Five
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding (in shares)	753,011
Options outstanding, weighted average remaining contractual life (in years)	6 years 2 months 12 days
Options exercisable (in shares)	682,273
Exercise Price Six
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Options outstanding (in shares)	531,439
Options outstanding, weighted average remaining contractual life (in years)	6 years 2 months 12 days
Options exercisable (in shares)	500,842
Minimum | Exercise Price One
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, lower range limit (in dollars per share) | $ / shares	$ 0.20
Minimum | Exercise Price Two
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, lower range limit (in dollars per share) | $ / shares	10.01
Minimum | Exercise Price Three
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, lower range limit (in dollars per share) | $ / shares	20.01
Minimum | Exercise Price Four
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, lower range limit (in dollars per share) | $ / shares	30.01
Minimum | Exercise price Five
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, lower range limit (in dollars per share) | $ / shares	45.01
Minimum | Exercise Price Six
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, lower range limit (in dollars per share) | $ / shares	55.01
Maximum | Exercise Price One
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, upper range limit (in dollars per share) | $ / shares	10
Maximum | Exercise Price Two
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, upper range limit (in dollars per share) | $ / shares	20
Maximum | Exercise Price Three
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, upper range limit (in dollars per share) | $ / shares	30
Maximum | Exercise Price Four
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, upper range limit (in dollars per share) | $ / shares	45
Maximum | Exercise price Five
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, upper range limit (in dollars per share) | $ / shares	55
Maximum | Exercise Price Six
Share-based Payment Arrangement, Option, Exercise Price Range [Line Items]
Exercise price, upper range limit (in dollars per share) | $ / shares	$ 73.10

Stock-based Compensation - Sc_4

Stock-based Compensation - Schedule of Restricted Stock and Restricted Stock units Activity (Details) - $ / shares	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2021
Nonvested restricted stock awards
NUMBER OF SHARES
Beginning balance (in shares)		809,527
Granted (in shares)		660,926
Vested (in shares)		(274,488)
Canceled (in shares)	(43,071)	(218,721)
Ending balance (in shares)		977,244
WEIGHTED AVERAGE FAIR VALUE PER SHARE
Beginning balance (in dollars per share)		$ 29.03
Granted (in dollars per share)		13.48
Vested (in dollars per share)		33.70
Canceled (in dollars per share)		24.03
Ending balance (in dollars per share)		$ 18.32
Nonvested restricted stock units
NUMBER OF SHARES
Beginning balance (in shares)		107,182
Granted (in shares)		100,322
Vested (in shares)		(30,958)
Canceled (in shares)		(19,673)
Ending balance (in shares)	43,071	156,873
WEIGHTED AVERAGE FAIR VALUE PER SHARE
Beginning balance (in dollars per share)		$ 14.43
Granted (in dollars per share)		15.48
Vested (in dollars per share)		15.27
Canceled (in dollars per share)		14.89
Ending balance (in dollars per share)		$ 14.88

Stock-Based Compensation - St_2

Stock-Based Compensation - Stock Appreciation Rights (Details) - Stock Appreciation Rights (SARs) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2021
NUMBER OF SHARES
Beginning balance (in shares)	212,044
Granted (in shares)	70,700
Exercised (in shares)	0
Canceled (in shares)	(44,395)
Ending balance (in shares)	238,349
Stock exercisable (in shares)	83,873
WEIGHTED AVERAGE EXERCISE PRICE
Beginning balance (in dollars per share)	$ 32.28
Granted (in dollars per share)	15.97
Exercised (in dollars per share)	0
Canceled (in dollars per share)	31.05
Ending balance (in dollars per share)	27.67
Stock exercisable (in dollars per share)	$ 38.63
WEIGHTED AVERAGE REMAINING CONTRACTUAL LIFE (YEARS)
Stock outstanding (in years)	3 years 14 days
Stock exercisable (in years)	2 years 1 month 9 days
AGGREGATE INTRINSIC VALUE
Stock outstanding	$ 0
Stock exercisable	$ 0

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Details) - USD ($)	Aug. 01, 2018	Nov. 30, 2019	Oct. 31, 2017	Dec. 31, 2018	Dec. 31, 2020	Mar. 31, 2022	Dec. 31, 2021
Loss Contingencies [Line Items]
Contingent liabilities relating to potential future milestone payments							$ 0
DSM Collaborative Arrangement
Loss Contingencies [Line Items]
Amount paid due to collaboration arrangement	$ 6,000,000			$ 3,000,000
Amount of to be paid due to collaborative agreement					$ 9,000,000
Contingent payments due (up to)	$ 75,000,000
Avizorex
Loss Contingencies [Line Items]
Asset acquisition, consideration transferred		$ 10,200,000
Milestone payments contingent upon the achievement of certain approvals (up to)		$ 69,000,000
Avizorex | Scenario, Forecast
Loss Contingencies [Line Items]
Amount payable due to achievement of regulatory milestone						$ 8,000,000
Envisia
Loss Contingencies [Line Items]
Milestone payments contingent upon the achievement of certain approvals (up to)			$ 45,000,000
Upfront cash payment			$ 10,500,000
Common stock, shares issued (in shares)			263,146
Common stock value			$ 14,300,000
Milestone period			15 years

Segment Information (Details)

Segment Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)segment	Dec. 31, 2020USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment	1
Total long-lived assets	$ 51,472	$ 54,260
United States
Segment Reporting Information [Line Items]
Total long-lived assets	8,067	8,391
Ireland
Segment Reporting Information [Line Items]
Total long-lived assets	$ 43,405	$ 45,869