Back to top

Image: Bigstock

Ophthotech Corporation

Read MoreHide Full Article

Ophthotech reported narrower-than-expected loss in the third quarter. However, it generated no revenues. The company is focused on development of Zimura, after the failure of Fovista program. The company has reassessed its wet age-related macular degeneration (AMD) program and is developing Zimura in combination with anti-VEGF therapy. The company also collaborated with other companies to develop Zimura in combination studies. The company also has agreements with academic institutions to develop gene therapy for retinal diseases. With no approved products, the company’s revenues are dependent on collaborations, which may be affected by pipeline setbacks. In a major setback, Novartis terminated its agreement with Ophthotech following the failure of Fovista in three phase III program on Fovista. The company lost a major source of revenues. Shares have underperformed the industry so far this year.

Published in