{"id":22867,"date":"2014-05-20T09:30:07","date_gmt":"2014-05-20T13:30:07","guid":{"rendered":"https:\/\/cablemanpro.com\/wallstreetpr\/?p=22867"},"modified":"2014-05-20T09:30:07","modified_gmt":"2014-05-20T13:30:07","slug":"ophthotech-corp-nasdaqopht-suffers-wider-loss-in-q1","status":"publish","type":"post","link":"https:\/\/cablemanpro.com\/wallstreetpr\/ophthotech-corp-nasdaqopht-suffers-wider-loss-in-q1-22867","title":{"rendered":"Ophthotech Corp (NASDAQ:OPHT) Suffers wider Loss In Q1"},"content":{"rendered":"<p style=\"text-align: justify;\">Boston, MA 05\/20\/2014 (wallstreetpr) \u2013\u00a0<strong>Ophthotech Corp (NASDAQ:OPHT)<\/strong>, a developer of novel therapeutics, announced that it suffered a wider net loss for the first quarter. However, the loss per share is smaller than the analysts\u2019 expectations for the same period.<\/p>\n<p style=\"text-align: justify;\"><b>1Q Results<\/b><\/p>\n<p style=\"text-align: justify;\">The company reported a net loss of $20.68 million or a loss of 64 cents a share compared to a loss of $6.36 million or a loss of $4.33 a share in the year-ago quarter. The loss per share is narrow as a result of an increase in outstanding shares. Wall Street analysts estimated the company to incur a loss of 67 cents a share.<\/p>\n<p style=\"text-align: justify;\">Operating costs surged to $20.7 million from $4.1 million in the previous year quarter, as research and development costs surged to $14.4 million from $2.4 million in the year earlier quarter.<\/p>\n<p style=\"text-align: justify;\"><b>1Q Achievements<\/b><\/p>\n<p style=\"text-align: justify;\">Ophthotech received $41.7 million payment as per the deal struck with Novo A\/S for milestone for enrollment as part of its $125.0 million agreement involving royalty financing. Ophthotech Corp (NASDAQ:OPHT)\u00a0is also entitled to get $41.7 million upon an additional patient enrollment milestone.<\/p>\n<p style=\"text-align: justify;\">The company expects to make progress in its Zimura, its second product candidate, to a phase 2\/3 clinical studies of geographic atrophy treatment, a stern form of dry age related macular degeneration or AMD, either later this year or early next year. This apart, Ophthotech plans to conduct Phase 2 clinical study of Zimura in mixture of anti-VEGF therapy for patients with wet AMD. The company expects to initiate a trial in 2015.<\/p>\n<p style=\"text-align: justify;\"><b>CEO Speaks<\/b><\/p>\n<p style=\"text-align: justify;\">Commenting on the results, Ophthotech chairman and CEO David Guyer said that the company is concentrating on executing its strategy for Fovista Phase 3 program. He also said that Ophthotech Corp (NASDAQ:OPHT)\u00a0will expand its programs on its lead product candidate through science-driven results by tripling the planned number of ongoing clinical studies in the current year as well as the next year. The data are expected to come out in 2015.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Boston, MA 05\/20\/2014 (wallstreetpr) \u2013\u00a0Ophthotech Corp (NASDAQ:OPHT), a developer of novel therapeutics, announced that it suffered a wider net loss for the first quarter. However, [&hellip;]<\/p>\n","protected":false},"author":13,"featured_media":22868,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[264],"tags":[6751,6750],"stock_ticker":[],"class_list":["post-22867","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health","tag-nasdaqopht","tag-ophthotech-corp-nasdaqopht","entry"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ophthotech Corp (NASDAQ:OPHT) Suffers wider Loss In Q1 - Wall Street PR<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cablemanpro.com\/wallstreetpr\/ophthotech-corp-nasdaqopht-suffers-wider-loss-in-q1-22867\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ophthotech Corp (NASDAQ:OPHT) Suffers wider Loss In Q1 - Wall Street PR\" \/>\n<meta property=\"og:description\" content=\"Boston, MA 05\/20\/2014 (wallstreetpr) \u2013\u00a0Ophthotech Corp (NASDAQ:OPHT), a developer of novel therapeutics, announced that it suffered a wider net loss for the first quarter. 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