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Ophthotech reports $60.9 million loss in third quarter
Ophthotech reported a net loss of $60.9 million, or $1.71 per diluted share, in the third quarter of 2016, whereas a net loss of $39.6 million, or $1.14 per diluted share, was reported in the third quarter of 2015.The company spent $10.4 million more on research and development in the third quarter of 2016 than in the same quarter of 2015, that is, $50.9 million compared with $40.5 million. The increase was attributed mostly to the Fovista (pegpleranib) phase 3 clinical trials program, according to a company press release.