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Stock Market & Financial Investment News

News Breaks
February 28, 2014
07:16 EDTOPHTOphthotech price target raised to $45 from $37 at Leerink
Leerink raised its price target for Ophthotech shares to $45 citing Fovista and Zimura pipeline advancement. The firm reiterates an Outperform rating on the stock.
News For OPHT From The Last 14 Days
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November 14, 2014
07:48 EDTOPHTOphthotech 995K share Block Trade priced at $41.00
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November 11, 2014
09:17 EDTOPHTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: FMSA Holdings (FMSA), up 4.7% following third quarter results. ALSO HIGHER: AVEO Pharmaceuticals (AVEO), up 7.6% after entering agreement with Ophthotech (OPHT) to license tivozanib... Ophthotech is 2.1% higher in pre-market trading... Galena Biopharma (GALE), up 3.6% after first patient dosed in NeuVax and Herceptin combination Phase 2 trial... Yamana Gold (AUY), up 3% after being upgraded to Overweight from Neutral at HSBC... Ambac Financial (AMBC), up 3.1% after being upgraded to Neutral from Sell at MKM Partners... China Finance (JRJC), up 12.4% after announcing a new partnership with Great Wall Securities... Zynga (ZNGA), up 5.7% after being upgraded on mobile business growth at Jefferies... Fiat Chrysler (FCAU), up 2.2% after being initiated with a Conviction Buy at Goldman. DOWN AFTER EARNINGS: Applied Optoelectronics (AAOI), down 10.7%... Ekso Bionics (EKSO), down 2.2%. ALSO LOWER: Alibaba Group (BABA), down 1.6% following comments made by vice chairman Joseph Tsai in an interview.
06:37 EDTOPHTOphthotech enters into with Aveo Pharmaceuticals to license tivozanib
Ophthotech (OPHT) has entered into an exclusive research and option agreement with Aveo Pharmaceuticals (AVEO) to license tivozanib, a small molecule vascular endothelial growth factor, or VEGF, tyrosine kinase inhibitor, for the treatment of non-oncologic conditions of the eye. Under the terms of the agreement, Ophthotech will pay an upfront fee of $500,000 for exclusive rights to investigate this compound’s potency and potential as an ocular formulation. Ophthotech is solely responsible for the ocular formulation and development of this compound, which will focus initially on a sustained release formulation as a treatment for the maintenance phase of wet AMD therapy. Under the agreement, upon completion of Ophthotech’s initial analysis, if Ophthotech elects to continue the development of an ocular formulation of this anti-VEGF therapy, Ophthotech will pay additional fees based upon Ophthotech’s submission of an Initial New Drug application and upon the demonstration of proof of concept in humans. If Ophthotech exercises its option for an exclusive worldwide license for the compound for ocular indications, Ophthotech will pay a license fee, and development, regulatory and sales-based milestones, if achieved, as well royalties on commercial sales.
06:33 EDTOPHTOphthotech reports Q3 EPS 31c, consensus (62c)
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