Ophthotech (OPHT) Eyeing “Strategic Alternatives”
Ophthotech Corp. (Nasdaq:OPHT) said before the opening bell Wednesday that it will undertake a full strategic review of all alternatives – including in-licensing, acquisition and collaboration opportunities – with financial advisors, aiming to maximize shareholder value.
Shares of the biopharmaceutical company have been trading at their lowest levels since December 12 last year, when the company reported disappointing results from two pivotal late-stage trials evaluating its wet age-related macular degeneration candidate Fovista.
OPHT stock closed at $4.76, up $0.24 (or +5.31%) with a total volume of 1,702,402 shares traded on Tuesday.
Ophthotech, which specializes in the development of novel therapeutics to treat back of the eye diseases, has 35.70M shares outstanding, market capitalization (intraday) of $162.72M and OPHT stock 52-week range is between $4.27 and $65.96 per share.
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