NEW YORK -- (BUSINESS WIRE) -- Ophthotech Corporation (NASDAQ:OPHT) announced today the closing of its previously announced registered public offering of 2,628,571 shares of its common stock at a price to the public of $31.50 per share, before underwriting discounts. Of the shares sold in the offering, 1,900,000 were sold by Ophthotech and 728,571 were sold by certain stockholders of the company. 342,857 of the shares sold by selling stockholders were sold as a result of the full exercise by the underwriters of a 30-day option to purchase these additional shares at the public offering price, less underwriting discounts.
Morgan Stanley and J.P. Morgan acted as joint book-running managers for the offering. Leerink Partners and Stifel acted as co-managers.
A registration statement relating to these securities was filed with, and declared effective by, the Securities and Exchange Commission. Copies of the prospectus may be obtained by contacting Morgan Stanley & Co. LLC, Attention: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014; and J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of such state or jurisdiction.
Ophthotech is a biopharmaceutical company specializing in the development of novel therapeutics to treat diseases of the eye, with a focus on developing therapeutics for age-related macular degeneration. The company has initiated a pivotal Phase 3 clinical program for its most advanced product candidate, 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.