Ophthotech initiates first expansion study of Fovista therapy Ophthotech Corporation announced today the initiation of the first of several planned expansion trials, in addition to the ongoing Fovista combination therapy Phase 3 clinical program. These expansion trials will investigate the potential role of Fovista combination therapy in reducing sub-retinal fibrosis, addressing sub-optimal treatment response and reducing treatment burden in wet age-related macular degeneration patients receiving anti-vascular endothelial growth factor monotherapy. The first expansion trial is a Phase 2a open-label study investigating the potential role of anti-platelet derived growth factor therapy in combination with anti-VEGF therapy in reducing sub-retinal fibrosis in wet AMD patients. The company also announced that a subgroup analysis showing a reduction of sub-retinal fibrosis and neovascular growth in patients receiving Fovista and Lucentis in the company’s Phase 2b trial has been accepted as an oral presentation at this year’s Annual Meeting of the American Academy of Ophthalmology, one of the major medical meetings for retinal physicians.
Ophthotech 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.