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Business
12 Months Ended
Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Business
1. Business
Description of Business and Organization
Ophthotech Corporation (the “Company” or “Ophthotech”) was incorporated on January 5, 2007, in Delaware. The Company is a biopharmaceutical company specializing in the development of novel therapeutics to treat ophthalmic diseases, with a focus on diseases of the back of the eye. To date, the Company's primary focus has been on developing therapeutics for age-related macular degeneration, or AMD, which is a disorder of the central portion of the retina, known as the macula, that may result in blindness. Following the Company's announcement in December 2016 that two of its three pivotal, Phase 3 clinical trials for Fovista® (pegpleranib), an anti-platelet derived growth factor, or PDGF, aptamer, in development for the treatment of wet AMD, failed to meet their primary endpoint, the Company initiated a plan to review its strategic alternatives in order to maximize shareholder value and implement an updated business plan.  Without limiting any option, the Company plans to continue to focus on the development of product candidates for ophthalmic diseases, especially back of the eye disorders. The Company is actively exploring opportunities to obtain rights to additional products, product candidates and technologies to treat ophthalmic diseases.  The Company is also currently continuing to develop its product candidate Zimura® (avacincaptad pegol), an inhibitor of complement factor C5, for the treatment of geographic atrophy, or GA, a form of dry AMD, and in combination with anti-VEGF drugs for the treatment of wet AMD, and is continuing its remaining Phase 3 Fovista clinical trial, OPH1004. The Company plans to reassess its existing Fovista and Zimura development programs throughout 2017 as the implementation of its updated business plan progresses and evolves, with the goal of aligning corporate resources in the context of a potentially broader product pipeline. The Company expects that its reassessment of its Fovista development program for the treatment of wet AMD will be primarily determined by the initial, top-line data from OPH1004 and that its reassessment of its Zimura development program may be particularly affected by the results of a competitor’s Phase 3 clinical trial of a complement inhibitor being studied for the treatment of GA. Data from both the Company's OPH1004 trial and its competitor’s Phase 3 trial for the treatment of GA are expected during the second half of 2017.  As a result of this reassessment, the Company may modify, expand or terminate some or all of its development programs or clinical trials at any time. The Company generally expects that it will not engage in internal early stage research and drug discovery and will thus avoid the related costs and risks of these activities.