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4-Traders Homepage  >  Equities  >  Nasdaq  >  Ophthotech Corp    OPHT

OPHTHOTECH CORP (OPHT)
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Ophthotech : Reports First Quarter 2018 Financial and Operating Results

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05/17/2018 | 09:36pm CEST

By a News Reporter-Staff News Editor at Gene Therapy Weekly -- Ophthotech Corporation (Nasdaq:OPHT) announced financial and operating results for the first quarter ended March 31, 2018 and provided a business update (see also Ophthotech Corporation).

"We continue to build on our Zimura program with on-going clinical trials in wet age related macular degeneration (AMD) with patient recruitment completed and topline data expected by the end of 2018, in geographic atrophy secondary to dry AMD where recruitment is on-track for topline data in the second half of 2019 and in autosomal recessive Stargardt disease which began enrolling patients earlier in the year," stated Glenn P. Sblendorio, Chief Executive Officer and President of Ophthotech. "In parallel, we are excited to have initiated our first innovative gene therapy program in collaboration with Horae Gene Therapy Center at the University of Massachusetts Medical School to treat orphan degenerative retinal diseases. A key aspect of our strategy is to continue to build on this momentum to uncover novel and differentiating technologies and product candidates through collaborations with leading companies and academic institutions from around the world." Recent Key Highlights Zimura® Complement Factor C5 Inhibitor Program In April 2018, the Company completed patient recruitment in its dose-ranging, open-label, multi-center Phase 2a clinical trial of Zimura® (avacincaptad pegol) in combination with the anti-vascular endothelial growth factor (anti-VEGF) agent Lucentis® (ranibizumab) in patients with wet age-related macular degeneration (AMD) who have not been previously treated with any anti-VEGF agents. This uncontrolled trial is designed to assess safety at different dosages and to detect a potential efficacy signal. The Company will evaluate data at month six.

The Company's ongoing Zimura clinical trial for the treatment of geographic atrophy secondary to dry AMD is on track for initial top-line data to be available during the second half of 2019.

In January 2018, the first patient was enrolled in the Company's Phase 2b randomized, double-masked, sham-controlled clinical trial assessing the efficacy and safety of Zimura in patients with autosomal recessive Stargardt disease (STGD1). Initial top-line data is expected to be available in 2020.

Keywords for this news article include: Business, Gene Therapy, Bioengineering, Clinical Research, Drugs and Therapies, Health and Medicine, Investment and Finance, Ophthotech Corporation, Clinical Trials and Studies, Eye Diseases and Conditions, Age-Related Macular Degeneration, Healthcare Biotechnology Companies.

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2018, NewsRx LLC

(c) 2018 NewsRx LLC, source Health Newsletters

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Financials ($)
Sales 2018 -
EBIT 2018 -61,0 M
Net income 2018 -60,0 M
Debt 2018 -
Yield 2018 -
P/E ratio 2018 -
P/E ratio 2019
Capi. / Sales 2018 0
Capi. / Sales 2019 0
Capitalization 101 M
Chart OPHTHOTECH CORP
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Ophthotech Corp Technical Analysis Chart | OPHT | US6837451037 | 4-Traders
Technical analysis trends OPHTHOTECH CORP
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Income Statement Evolution
Consensus
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Mean consensus HOLD
Number of Analysts 4
Average target price 3,25 $
Spread / Average Target 17%
EPS Revisions
Managers
NameTitle
Glenn P. Sblendorio President & Chief Executive Officer
David R. Guyer Executive Chairman
Keith Westby Chief Operating Officer & Senior Vice President
David F. Carroll Chief Financial Officer, Treasurer & SVP
Axel Bolte Independent Director
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