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Ophthotech reports $51.5 million in collaboration revenue for 2015

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Ophthotech reported $51.5 million in collaboration revenue in 2015 compared with $41.3 million in 2014, according to a press release.

The revenue in both years was primarily attributed to the $50 million enrollment-based milestones achieved in September 2014 and March 2015 under an agreement with Novartis regarding ex-U.S. licensing and commercialization of Fovista (pegpleranib).

Net loss was reported at $105.7 million, or $3.06 per diluted share, in 2015 compared with $116.8 million, or $3.51 per diluted share, in 2014.

Research and development expenses were reported at $131 million in 2015 compared with $88.4 million in 2014. The increase was attributed to the Fovista phase 3 clinical program and increased personnel costs associated with management and research and development staffing.