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Ophthotech : Reports Third Quarter 2016 Financial and Operating Results

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11/17/2016 | 06:03pm CET

By a News Reporter-Staff News Editor at Clinical Trials Week -- Ophthotech Corporation (Nasdaq: OPHT) announced financial results for the third quarter ended September 30, 2016 and provided an update on the Company's business and product development programs (see also Ophthotech Corporation).

The Company expects to announce initial topline data from two Phase 3 trials of Fovista® (pegpleranib) in combination with Lucentis® (ranibizumab) for the treatment of wet age-related macular degeneration (AMD) in this fourth quarter. A third Phase 3 trial investigating Fovista® in combination with either Eylea® (aflibercept) or Avastin® (bevacizumab) completed patient recruitment in June 2016. The Company expects initial topline data from this third Phase 3 trial to be available in the second half of 2017.

Results from Ophthotech's Phase 2b Fovista® combination therapy study in wet AMD patients were published in October 2016 in Ophthalmology®, the journal of the American Academy of Ophthalmology. The published article, "Dual Antagonism of PDGF and VEGF in Neovascular Age-related Macular Degeneration," can be accessed online under "Articles in Press" at: http://www.aaojournal.org/inpress.

Ophthotech continues to enroll patients in its Phase 2/3 trial of Zimura® in patients with geographic atrophy, an advanced form of dry AMD. In addition, its Phase 2 trial evaluating the potential role of Zimura® when administered in combination with anti-VEGF drugs for the treatment of wet AMD has been activated.

Keywords for this news article include: Clinical Research, Retinal Degeneration, Investment and Finance, Ophthotech Corporation, Clinical Trials and Studies, Eye Diseases and Conditions, Retinal Diseases and Conditions, Age-Related Macular Degeneration.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2016, NewsRx LLC

(c) 2016 NewsRx LLC, source Health Newsletters

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Financials ($)
Sales 2016 60,8 M
EBIT 2016 -177 M
Net income 2016 -172 M
Finance 2016 13,6 M
Yield 2016 -
P/E ratio 2016 -
P/E ratio 2017
EV / Sales 2016 22,1x
EV / Sales 2017 12,5x
Capitalization 1 360 M
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Ophthotech Corp Technical Analysis Chart | OPHT | US6837451037 | 4-Traders
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Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 90,2 $
Spread / Average Target 137%
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David R. Guyer Chairman & Chief Executive Officer
Samir Chandrakant Patel President & Vice Chairman
Glenn P. Sblendorio Treasurer, Chief Financial & Operating Officer
Harvey N. Masonson Senior Vice President-Clinical Development
Axel Bolte Independent Class II Director
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