Biopharmaceuticals

Investors claim in a federal class action that revelations about the efficacy of the macular-degeneration therapy Fovista, as well as the likelihood of FDA approval, caused Ophthotech’s stock to drop 86 percent, from $38.88 to $5.29 per share, in one day of trading last month.

MANHATTAN – Investors claim in a federal class action that revelations about the efficacy of the macular-degeneration therapy Fovista, as well as the likelihood of FDA approval, caused Ophthotech’s stock to drop 86 percent, from $38.88 to $5.29 per share, in one day of trading last month.

Follow @bleonardcns

Categories / Health, Securities

Subscribe to Closing Arguments

Sign up for new weekly newsletter Closing Arguments to get the latest about ongoing trials, major litigation and hot cases and rulings in courthouses around the U.S. and the world.

Biopharmaceuticals

Subscribe to Closing Arguments

Additional Reads