Aerie Pharmaceuticals ( AERI ) disclosed new details Thursday about the safety and tolerability of its experimental glaucoma eye drop Rhopressa. The data spooked investors, sending Aerie shares down 15%. Rhopressa is Aerie's lead product and will be submitted for U.S. approval in the third quarter. But the drug's concerning safety profile, including elevated rates of eye redness, corneal deposits and blurry vision, could turn off doctors and glaucoma patients who already have access to cheaper and better-tolerated eye drops. Aerie has previously announced results from two phase III studies comparing once-daily Rhopressa to twice-daily timolol, a generic glaucoma medicine. The studies demonstrated Rhopressa lowered intra-ocular eye pressure equally as well as timolol, with a "positive safety profile," according to Aerie.