Ophthotech Corp, a biopharmaceutical company that develops therapeutics for the treatment of eye diseases, saw its shares fall more than 13 percent Friday.
The decline is attributed to an announcement by Regeneron Pharmaceuticals Inc, a larger biopharmaceutical peer whose therapies also treat eye diseases.
Regeneron announced topline results from a Phase 2 study evaluation of aflibercept co-formulated with rinucumab (REGN2176-3) in patients with neovascular age-related macular degeneration. The company said the combination therapy didn’t demonstrate an improvement in best corrected visual acuity (BCVA) compared to intravitreal aflibercept injection monotherapy at 12 weeks, the primary endpoint of the study.
