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Ophthotech Corporation stock price
Ophthotech Corporation latest news:
Roche shares decline 1.6% on news that late-stage study missed primary endpoint
Roche Holding AG shares declined 1.6% in heavy midday trade Friday after the company said its drug for vision loss did not meet the primary endpoint in a late-stage clinical trial. Further dosing for patients in the trial will be paused until results from another late-stage study are evaluated, Roche said. The therapy, lampalizumab, is intended to treat a progressive form of age-related macular degeneration called geographic atrophy, which is associated with visual impairment, often in both eyes. The condition, which affects more than five million people globally, has no approved therapies. Shares of the biotech Ophthotech Corporation plummeted 10.3% to $2.78 in heavy Friday trade. Ophthotech's macular degeneration therapy pegpleranib, tested in combination with other therapies, did not show benefit compared to the other therapies alone, the company said in mid-August. The company plans to move forward "with multiple ongoing or planned clinical programs in orphan retinal diseases," it said in August. Roche shares have declined 1% over the last three months and Ophthotech shares have risen 9%, compared with a 1% rise in the S&P 500 . Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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