Ophthotech Closes IPO Of 8.74 Mln. Shares - Quick Facts

(RTTNews) - Ophthotech Corp. on Monday announced the closing of its initial public offering of 8.74 million shares of common stock at a public offering price of $22.00 per share, before underwriting discounts, including 1.14 million shares of common stock issued upon the exercise in full by the underwriters of their option to purchase additional shares at the public offering price, less the underwriting discount.

Morgan Stanley and J.P. Morgan acted as joint book-running managers for the offering. Leerink Swann and Stifel acted as co-managers.

Ophthotech is a biopharmaceutical company specializing in the development of novel therapeutics to treat diseases of the eye. The company's most advanced product candidate is Fovista anti-PDGF therapy, which it is developing for use in combination with anti-VEGF drugs that represent the standard of care for the treatment of wet age-related macular degeneration.

The company's stock is trading at $29.30, up $0.12 or 0.41%, on a volume of 136 thousand shares on the Nasdaq.