Ophthotech Corporation (OPHT) saw its loss widen to $66.28 million, or $1.86 a share for the quarter ended Dec. 31, 2016. In the previous year period, the company reported a loss of $35.65 million, or $1.02 a share. Revenue during the quarter grew 11.29 percent to $5.32 million from $4.78 million in the previous year period.
Operating loss for the quarter was $67.06 million, compared with an operating loss of $41.20 million in the previous year period.
The principal focus of the plan, based on the Company's deep expertise and experience in ophthalmology, is to actively explore opportunities to obtain rights to additional products, product candidates and technologies to treat ophthalmic diseases, particularly those of the back of the eye. Ophthotech also announced that it engaged Leerink Partners LLC as its financial advisor to assist management and the Board in evaluating the Company’s strategic alternatives. This review will not exclude any strategic option. As part of implementing the strategic plan, Glenn P. Sblendorio assumed the role of president and chief executive officer continues to serve as chief financial officer, and Keith Westby was promoted to Senior Vice President and Chief Operating Officer.
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