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Stock Market & Financial Investment News

News Breaks
January 24, 2014
07:34 EDTOPHTOphthotech receives $41.7M payment from Novo
Ophthotech announced that it has received payment of approximately $41.7M in a second tranche in royalty financing from Novo. The receipt of the second tranche has been triggered as a result of Ophthotech reaching an initial enrollment milestone of a specified number of patients in its multi-national Phase 3 clinical program of Fovista. Ophthotech initiated patient enrollment in the Phase 3 clinical program of Fovista in August 2013, and continues to expect to have initial top-line data in 2016. Novo funded the tranche in exchange for an additional royalty interest on Fovista sales. The tranche is the second of three under a $125M royalty agreement with Novo A/S. The initial funding occurred in May 2013 and a third potential funding is based upon a further patient enrollment milestone.
News For OPHT From The Last 14 Days
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September 16, 2014
07:32 EDTOPHTOphthotech announces Fovista Phase 2b trial presentation
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September 9, 2014
07:55 EDTOPHTOphthotech earlier than expected Novartis payment positive, says Oppenheimer
After Ophthotech (OPHT) received a $50M Phase 3 enrollment payment from Novartis (NVS) earlier than expected, Oppenheimer thinks the payment highlights an underappreciated stock driver for Opthotech, and demonstrates that recent suggestions of Phase 3 enrollment timelines possibly slipping are unwarranted. The firm believes the company is executing well on the Fovista Phase 3 program and keeps an Outperform rating on the stock.
September 8, 2014
07:33 EDTOPHTOphthotech achieves $50M milestone under ex-agreement with Novartis for Fovista
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