Ophthotech reports 4Q loss

Published March 16, 2017

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

URL

https://www.foxnews.com/us/ophthotech-reports-4q-loss