This article is more than 5 years old. Information may no longer be current.
Ophthotech reports $36.3 million net loss in first quarter
Click Here to Manage Email Alerts
Ophthotech reported a first quarter net loss of $36.3 million, or $1.03 per diluted share, compared with a net income of $6.6 million, or $0.19 per diluted share, in the first quarter of 2015, according to a press release.
Collaboration revenue totaled $15.7 million in the first quarter compared with $41.7 million in the first quarter of 2015, when collaboration revenue was related primarily to drug supply shipments the company completed under an agreement with Novartis.
Research and development expenses totaled $37.8 million in the first quarter compared with $24.6 million in the first quarter of 2015. The increase was attributed to the phase 3 clinical program and expansion studies for Fovista (pegpleranib).
General and administrative expenses totaled $14.7 million, up from $9.6 million in the same quarter of 2015.