Strug­gling Oph­thotech or­ga­nizes a glob­al hunt for some new opthal­mol­o­gy deals

Oph­thotech wast­ed lit­tle time in re­spond­ing to its Phase III Fo­vista dis­as­ter by lay­ing off 135 staffers and hun­ker­ing down to weath­er the storm. And now it’s set off on a pub­lic hunt for a deal, or deals, to re­place its one-time block­buster con­tender with a new eye drug pro­gram that can whip up some bad­ly need­ed ex­cite­ment for the biotech.

Of­fi­cial­ly, Oph­thotech $OPHT has be­gun an ex­plo­ration of “strate­gic al­ter­na­tives,” which usu­al­ly trans­lates in­to a last-ditch ef­fort to squeeze any re­main­ing val­ue there is in a biotech af­ter a ma­jor cat­a­stro­phe. But the biotech in­di­cat­ed that it has some spe­cif­ic goals in mind.

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