December 16, 2016 (Shareholders Foundation) - An investigation on behalf of investors of Ophthotech Corp (NASDAQ:OPHT) shares over potential securities laws violations by Ophthotech and certain of its directors and officers in connection certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Ophthotech Corp (NASDAQ:OPHT) concerning whether a series of statements by Ophthotech Corp regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Ophthotech Corp reported that its annual Total Revenue rose from $41.26 million in 2014 to $51.56 million in 2015 and that its Net Loss declined from $116.77 million in 2014 to $105.72 million in 2015.

On December 12, 2016, Ophthotech Corp (NASDAQ:OPHT) announced that the pre-specified primary endpoint of mean change in visual acuity at 12 months was not achieved in its two pivotal Phase 3 clinical trials investigating the superiority of Fovista (pegpleranib) anti-PDGF therapy in combination with Lucentis (ranibizumab) anti-VEGF therapy compared to Lucentis monotherapy for the treatment of wet age-related macular degeneration (AMD). Ophthotech Corp also said that the addition of Fovista to a monthly Lucentis regimen did not result in benefit as measured by the mean change in visual acuity at the 12 month time point.

Shares of Ophthotech Corp (NASDAQ:OPHT) declined to as low as $4.53 per share on December 15, 2016.