Ophthotech Reports Third Quarter 2018 Financial and Operating Results

Ophthotech
Corporation (Nasdaq:OPHT) today announced financial and operating
results for the third quarter ended September 30, 2018 and provided a
business update.

“During 2018 Ophthotech made significant progress in bringing together a
diversified pipeline of therapeutic and gene therapy programs for the
treatment of retinal diseases,” stated Glenn P. Sblendorio, Chief
Executive Officer and President of Ophthotech. “Today, we announced two
transactions that add compelling opportunities to our existing pipeline
of retinal programs, and through the acquisition of Inception 4, Inc. we
are excited to welcome Versant Ventures as a major shareholder of
Ophthotech. We are on track to provide topline data from our Zimura
program in wet age-related macular degeneration by the end of this year,
followed by topline data in geographic atrophy secondary to dry AMD in
the second half of 2019 and in Stargardt disease in 2020. We look
forward to advancing and expanding our pipeline of age-related and
orphan retinal diseases and creating value for our shareholders.”

Corporate Highlights

The following announcements will be discussed during today’s conference
call/webcast (see full detailed press releases issued earlier today and
call in information below).

Therapeutic Program Highlights

Complement Factor C5 Inhibitor Program: Zimura®

Gene Therapy Program Highlights

2018 Operational Update

As of September 30, 2018, the Company had $135.2 million in cash and
cash equivalents. The Company increased its year end 2018 cash and cash
equivalents estimate to range between $125 million and $130 million, an
increase from the Company’s prior estimate of between $112 million and
$117 million, reflecting the impact of the acquisition of Inception 4,
expansion of the Company’s gene therapy research and development
programs and the continuation of the Company’s development programs for
Zimura as currently planned. This estimate does not reflect
any additional expenditures resulting from the potential in-licensing or
acquisition of additional product candidates or technologies or
associated development that the Company may pursue.

2018 Financial Highlights

Conference Call/Web Cast Information

Ophthotech will host a conference call/webcast to discuss the Company’s
financial and operating results for the third quarter of 2018 and to
provide a business update. The call is scheduled for October 31, 2018 at
8:00 a.m. Eastern Time. To participate in this conference call, dial
888-204-4368 (USA) or 323-994-2082 (International), passcode 3714524. A
live, listen-only audio webcast of the conference call can be accessed
on the Investor Relations section of the Ophthotech website at: www.ophthotech.com.
A replay will be available approximately two hours following the live
call for two weeks. The replay number is 888-203-1112 (USA Toll Free),
passcode 3714524.

About Ophthotech Corporation

Ophthotech is a science-driven biopharmaceutical company specializing in
the development of novel therapies to treat ophthalmic diseases, with a
focus on age-related and orphan retinal diseases. For more information,
please visit www.ophthotech.com.

Forward-looking Statements

Any statements in this press release about Ophthotech’s future
expectations, plans and prospects constitute forward-looking statements
for purposes of the safe harbor provisions under the Private Securities
Litigation Reform Act of 1995. Forward-looking statements include any
statements about Ophthotech’s strategy, future operations and future
expectations and plans and prospects for Ophthotech, and any other
statements containing the words “anticipate,” “believe,” “estimate,”
“expect,” “intend”, “goal,” “may”, “might,” “plan,” “predict,”
“project,” “target,” “potential,” “will,” “would,” “could,” “should,”
“continue,” and similar expressions. In this press release, Ophthotech’s
forward looking statements include statements about the implementation
of its strategic plan, Ophthotech’s projected use of cash and cash
balances, the timing, progress and results of clinical trials and other
research and development activities, the potential utility of its
product candidates, its expectations with respect to the financial
impacts and benefits to Ophthotech of the acquisition of Inception 4,
and the potential for its business development strategy, including its
collaborative gene therapy research programs and any potential
in-license or acquisition opportunities. Such forward-looking statements
involve substantial risks and uncertainties that could cause
Ophthotech’s preclinical and clinical development programs, future
results, performance or achievements to differ significantly from those
expressed or implied by the forward-looking statements. Such risks and
uncertainties include, among others, those related to the initiation and
the conduct and design of research and development programs and clinical
trials, availability of data from these programs, expectations for
regulatory matters, need for additional financing and negotiation and
consummation of in-license and/or acquisition transactions and other
factors discussed in the “Risk Factors” section contained in the
quarterly and annual reports that Ophthotech files with the Securities
and Exchange Commission. Any forward-looking statements represent
Ophthotech’s views only as of the date of this press release. Ophthotech
anticipates that subsequent events and developments will cause its views
to change. While Ophthotech may elect to update these forward-looking
statements at some point in the future, Ophthotech specifically
disclaims any obligation to do so except as required by law.

OPHT-G

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