Ophthotech reports fourth quarter, year-end financials

Ophthotech announced a significant increase in its research and development expenses for both the last quarter and the year ended 2013 compared to 2012.Other financial highlights reported in a company press release include the receipt of an additional $41.7 million from a second tranche payment under the company’s $125 million royalty financing agreement with Novo A/S and the public offering of common stock resulting in net proceeds of about $55 million.

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