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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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February 24, 2015
08:11 EDTOPHTOphthotech price target raised to $69 from $61 at Leerink
Leerink raised its price target for Ophthotech shares to $69 following the company's Q4 results and reiterates an Outperform rating on the name.
February 23, 2015
16:12 EDTOPHTOphthotech reports Q4 EPS ($1.06), consensus (57c)
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February 18, 2015
10:05 EDTOPHTOn The Fly: Analyst Initiation Summary
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08:45 EDTOPHTOphthotech initiated with a Buy at Chardan
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