Ophthotech Corp (OPHT) Posts Smaller-than-Expected Q2 Loss

Ophthotech Corp (NASDAQ: OPHT) reported Q2 EPS of ($0.62), $0.45 better than the analyst estimate of ($1.07). Revenue for the quarter came in at $1.7 million versus the consensus estimate of $1.03 million.

As of June 30, 2017, the Company had $196.4 million in cash, cash equivalents, and marketable securities. The Company expects a 2017 year end cash balance of between $145 million and $160 million, excluding any potential business development activities, and after accounting for the approximately $20 million to $35 million that remains committed to implementing a reduction in personnel, the winding-down of the Phase 3 Fovista® in combination with Lucentis® clinical trials, the termination of the Fovista Expansion Studies, and obtaining initial, top-line data for OPH1004.

For earnings history and earnings-related data on Ophthotech Corp (OPHT) click here.

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