NEW YORK – NEW YORK (AP) _ Ophthotech Corp. (OPHT) on Tuesday reported a loss of $66.3 million in its fourth quarter.
On a per-share basis, the New York-based company said it had a loss of $1.86.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of $1.64 per share.
The clinical-stage biotech focused on eye diseases posted revenue of $5.3 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $6.3 million.
For the year, the company reported that its loss widened to $193.4 million, or $5.45 per share. Revenue was reported as $50.9 million.
The company's shares closed at $4.57. A year ago, they were trading at $46.36.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on OPHT at https://www.zacks.com/ap/OPHT
Keywords: Ophthotech, Earnings Report