Gabelli Downgrades Ophthotech Corp (OPHT) to Hold

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Go back to Gabelli Downgrades Ophthotech Corp (OPHT) to Hold

Ophthotech Corp (OPHT) Pivotal Phase 3 Trials of Fovista Fails to Achieve Primary Endpoint in Wet AMD

December 12, 2016 6:08 AM EST

Ophthotech Corporation (Nasdaq: OPHT) today announced that the pre-specified primary endpoint of mean change in visual acuity at 12 months was not achieved in its two pivotal Phase 3 clinical trials investigating the superiority of Fovista® (pegpleranib) anti-PDGF therapy in combination with Lucentis® (ranibizumab) anti-VEGF therapy compared to Lucentis® monotherapy for the treatment of wet age-related macular degeneration (AMD). The addition of Fovista® to a monthly Lucentis® regimen did not result in benefit as measured by the mean change in visual acuity at the 12 month time point.

We are very disappointed in the results from these... More