Shares of Ophthotech Corp. (OPHT) gained nearly 20% to $2.79 ahead of the market open on Wednesday, Nov. 8, after the New York firm announced third-quarter results.
The company had net income of $189.1 million, or $5.25 per diluted share, compared with a net loss of $60.9 million, or $1.71 per diluted share, in the same period a year ago. Collaboration revenue totaled $206.7 million, compared with $1.7 million in the third quarter of 2016.
Meanwhile, shares of Nektar Therapeutics (NKTR) rose 9% to $29.28 on the heels of the release of the San Francisco firm's third-quarter numbers after the close on Tuesday.
Nektar reported net income of $60.9 million, or $0.39 basic income per share, compared with a net loss of $43.2 million, or $0.32 basic loss per share, in the same period in 2016. Revenue was $152.9 million, compared with $36.3 million in the year-ago period.
Other biotech stock movers include Tesaro Inc. (TSRO) , down 5% to $106.20. The Waltham, Mass.-based firm after the market close on Tuesday reported a third-quarter net loss of $25.3 million, or $0.47 per share, compared with a net loss of $87.9 million, or $1.72 per share, in the third quarter of 2016. Net product revenue was $41.8 million, compared with $1.3 million in the year-ago period.