Shares of Bioverativ Inc. (NASDAQ:BIVV) dropped -1.64% by the end of trading session at $52.12. The net percentage change is 0% over the last 12 months. The trading range in the same period had a highest hit of $54.2 while lowest level was $41.88. At the moment the price is 8.34% above its 50-day moving average and 8.34% above its 200-day moving average.
Bioverativ Inc. (NASDAQ:BIVV) on March 2, 2017 announced that Anna Protopapas has been appointed to the company’s board of directors. Ms. Protopapas has more than 20 years of experience in the biopharmaceutical industry, including her current role as President, Chief Executive Officer and member of the board of directors of Mersana Therapeutics, Inc. Previously, Ms. Protopapas was a member of the Executive Committee of Takeda Pharmaceutical Company Limited and held various senior management positions at the company, including President of Millennium Pharmaceuticals, a wholly owned subsidiary of Takeda focused on oncology. This appointment brings Bioverativ’s total number of directors to five, four of whom are independent.
Ms. Protopapas joins the Bioverativ board of directors with a strong background in biopharmaceutical industry leadership and business development. While at Takeda, Ms. Protopapas led the oncology business and played an integral role in leading Millennium’s integration into Takeda. Prior to serving as president, she was Executive Vice President of Global Business Development, overseeing all of Takeda’s acquisitions, licensing, partnering and venture investing for a period of four years. Prior to Takeda, Ms. Protopapas held multiple leadership roles at Millennium Pharmaceuticals, including most recently Senior Vice President of Strategy and Business Development and membership on the Executive Committee where she led the company’s business development initiatives. Ms. Protopapas previously served on the board of directors of ARIAD Pharmaceuticals, Inc., a life sciences company, until its acquisition by Takeda in February 2017.
Ophthotech Corporation (NASDAQ:OPHT) last exchanged hands at a price $3.53/share, registering a decline of -5.87%. Among 7 Wall Street analysts tracked by Thomson/First Call, the average PT for OPHT is $4.71 but some of them are predicting the price to move at the $7 level. If the most optimistic analysts are correct, the expected total return from the current price would be 98.3. The number of shares traded in most recent trading day was 1.7M shares which averages 3.04M shares a day. Its previous fifty two week high was $65.96 and moved down -91.82% over the same time frame, currently having a market cap around $126.02 million. Shares have risen -90.14% over the trailing six months. At the moment, the stock trades -21.04% below its 50-day moving average and -90.05% below its 200-day moving average.
Ophthotech Corporation (NASDAQ:OPHT) on February 28, 2017 announced financial and operating results for the fourth quarter and full year ended December 31, 2016.
Year-end / Fourth Quarter 2016 Financial Highlights and Operational Update
- Cash Position: As of December 31, 2016, the Company had $289.3 million in cash, cash equivalents, and marketable securities. Of this balance, approximately $100 million to $115 million is committed to implementing a reduction in personnel, the termination of facilities leases, the immediate termination and winding-down of the Phase 3 Fovista® in combination with Lucentis® clinical trials, the termination of the Fovista® Expansion Studies, cancelation fees related to manufacturing commitments, and obtaining initial top-line data in the second half of 2017 for the Phase 3 Fovista® in combination with Eylea® (aflibercept) or Avastin®(bevacizumab) clinical trial.
- Revenues: Collaboration revenue was $5.3 million for the quarter ended December 31, 2016, compared to $4.8 million for the same period in 2015. For the year ended December 31, 2016, collaboration revenue was $50.9 million, compared to $51.5 million for 2015. Collaboration revenue was in connection with the Company’s Licensing and Commercialization Agreement with Novartis Pharma AG.
- R&D Expenses: Research and development expenses were $59.4 million for the quarter ended December 31, 2016, compared to $33.9 million for the same period in 2015. For the year ended December 31, 2016, research and development expenses were $196.3 million compared to $131.0 million for 2015. Research and development expenses increased in both the quarter and year ended December 31, 2016 primarily due to the Company’s Fovista® Phase 3 clinical program, including manufacturing expenses and personnel costs which include share-based compensation expense.
- G&A Expenses: General and administrative expenses were $13.0 million for the quarter ended December 31, 2016, compared to $12.1 million for the same period in 2015. For the year ended December 31, 2016, general and administrative expenses were $50.2 million, compared to $44.0 million for 2015. The increase in general and administrative expenses in the quarter and year ended December 31, 2016 related primarily to an increase in costs to support the Company’s expanded operations and infrastructure, which consisted of additional management, corporate staffing, professional services and consulting fees, and increased share-based compensation.
- Net Loss: The Company reported a net loss for the quarter ended December 31, 2016 of $66.3 million, or ($1.86) per diluted share, compared to a net loss of $35.6 million, or ($1.02) per diluted share, for the same period in 2015. For the year ended December 31, 2016, the Company reported a net loss of $193.4 million, or ($5.45) per diluted share, compared to a net loss of $105.7 million, or ($3.06) per diluted share, for 2015.