An investor, who purchased NASDAQ:OPHT shares, filed a lawsuit against Ophthotech Corp over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Ophthotech Corp (NASDAQ:OPHT) have certain options and for certain investors are short and strict deadlines running. Deadline: March 13, 2017. Ophthotech Corp (NASDAQ:OPHT investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
According to the complaint the plaintiff alleges that Ophthotech made allegedly overtly positive representations about the effectiveness and potential of its treatment Fovista when used in combination with Lucentis, a commercially available anti-vascular endothelial growth factor agent, despite awareness that the phase 3 clinical trial of Fovista would fail to achieve its primary endpoint of change in best corrected visual acuity from baseline at 12 months over Lucentis alone.
Ophthotech Corp reported that its annual Total Revenue rose from $41.26 million in 2014 to $51.56 million in 2015 and that its Net Loss declined from $116.77 million in 2014 to $105.72 million in 2015.
On December 12, 2106, Ophthotech Corp (NASDAQ:OPHT) announced that the pre-specified primary endpoint of mean change in visual acuity at 12 months was not achieved in its two pivotal Phase 3 clinical trials investigating the superiority of Fovista® (pegpleranib) anti-PDGF therapy in combination with Lucentis® (ranibizumab) anti-VEGF therapy compared to Lucentis® monotherapy for the treatment of wet age-related macular degeneration (AMD). Ophthotech Corp also said that the addition of Fovista® to a monthly Lucentis® regimen did not result in benefit as measured by the mean change in visual acuity at the 12 month time point.
Shares of Ophthotech Corp (NASDAQ:OPHT) declined to as low as $4.42 per share on January 23, 2017
Those who purchased NASDAQ:OPHT shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com