Ophthotech raises $167.2m in IPO for AMD drug Fovista
This article was originally published in Scrip
Executive Summary
In one of the largest initial public offerings this year, Ophthotech priced its IPO at $22 per share on 24 September to gross $167.2m from the sale of 7.6m shares, which will finance three Phase III clinical trials for the wet age-related macular degeneration (AMD) drug Fovista.