IVERIC bio, Inc.

NasdaqGS:ISEE Stock Report

Market Cap: US$5.5b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

IVERIC bio Management

Management criteria checks 3/4

IVERIC bio's CEO is Glenn Sblendorio, appointed in Jul 2017, has a tenure of 6.17 years. total yearly compensation is $9.82M, comprised of 7.1% salary and 92.9% bonuses, including company stock and options. directly owns 0.17% of the company’s shares, worth $9.56M. The average tenure of the management team and the board of directors is 5.5 years and 4.6 years respectively.

Key information

Glenn Sblendorio

Chief executive officer

US$9.8m

Total compensation

CEO salary percentage7.13%
CEO tenure6yrs
CEO ownership0.2%
Management average tenure5.5yrs
Board average tenure4.6yrs

Recent management updates

Recent updates

Seeking Alpha • Sep 06

Iveric drives Apellis lower as Street reacts to Phase 3 data for GA candidate

Iveric bio (NASDAQ:ISEE), have sparked volatility in rival biotechs on Tuesday after the clinical-stage company announced results from a Phase 3 trial for Zimura involving patients with eye disease geographic atrophy (GA) secondary to dry age-related macular degeneration (AMD). ISEE said that the second late-stage trial for the candidate reached the primary goal, and it would submit a new drug application for Zimura by the end of Q1 2023. While ISEE added over 63%, Apellis Pharmaceuticals (APLS) and NGM Biopharmaceuticals (NGM), both of which have clinical stage candidates targeted at GA, have lost more than 7% and gained nearly ~6%, respectively, in reaction. With an Outperform rating on the stock, Cowen raised its price target on ISEE to $30 from $25 per share and argued that Zimura “has demonstrated efficacy in line with Apellis’s recent studies, while safety appears better.” Last month, APLS shares dipped in reaction to 24-month data for its lead asset pegcetacoplan from two Phase 3 trials involving patients with GA secondary to AMD. In contrast, B. Riley called the data “highly anticipated, yet disappointing” and downgraded the stock to Sell from Neutral, slashing the price target to $8 from $12 per share. The results represent “the best case scenario” for NGM’s trial in GA, the analyst added, NGM is on track to report topline data from a Phase 2 trial for its GA candidate NGM621 in Q4 2022.
Seeking Alpha • Jul 25

IVERIC bio Q2 2022 Earnings Preview

IVERIC bio (NASDAQ:ISEE) is scheduled to announce Q2 earnings results on Monday, July 25th, after market close. The consensus EPS estimate is -$0.30. Over the last 3 months, EPS estimates have seen 3 upward revisions and 1 downward revision.
Seeking Alpha • Jul 05

Iveric bio pay DelSiTech €1.25M upfront to develop new formulations of eye disorder drug Zimura

Iveric bio (NASDAQ:ISEE) signed a license agreement for the right to develop and commercialize new formulations of eye disorder drug candidate Zimura using DelSiTech's silica-based sustained release technology. Under the agreement, Iveric will pay DelSiTech €1.25M upfront and development and commercial milestones plus royalties on net sales of products. Iveric said that as part of its lifecycle expansion plan for Zimura, it is committed to developing sustained release technologies to treat age-related macular degeneration (AMD) and that these technologies could potentially address patients being treated for geographic atrophy (GA) and intermediate AMD. Iveric said it expects data from a second phase 3 trial, dubbed GATHER2, of Zimura for GA in Q3 2022 and if results are positive it will file for U.S. and EU approval of of Zimura for GA. The study called GATHER1 had already met its main efficacy goal, according to the company. The company also plans to explore Zimura in earlier stages of AMD by starting a trial evaluating the current formulation of Zimura in patients with intermediate AMD in Q4 2022. ISEE +1.49% to $9.54 premarket July 5
Seeking Alpha • Jun 23

IVERIC bio: A First Take

Today, we take our first look at ocular focused biotech IVERIC bio, Inc. The stock has seen some insider buying here in June and its primary asset Zumira seems on the path to commercialization. An investment analysis follows in the paragraphs below.
Seeking Alpha • Sep 16

Apellis' Loss Is Iveric Bio's Gain In Lucrative Eye Disease Field

Iveric Bio is developing Zimura - indicated for Geographic Atrophy - an eye disease that often leads to blindness. Zimura has met its primary endpoint in a pivotal Phase 3 trial, and data from a fully enrolled second Phase 3 will be available in H222. Zimura's chief rival Pegcetacoplan, developed by Apellis, recently missed one primary endpoint and met another in its 2 Phase 3 trials in GA. That has opened the door for Zimura to become the first drug ever approved for GA - a multi-billion dollar market. Iveric is aiming to create a franchise with Zimura, targeting all forms of advanced macular degeneration. Everything hangs on the outcome of its second pivotal trial.

CEO Compensation Analysis

How has Glenn Sblendorio's remuneration changed compared to IVERIC bio's earnings?
DateTotal CompensationSalaryCompany Earnings
Mar 31 2023n/an/a

-US$223m

Dec 31 2022US$10mUS$700k

-US$185m

Sep 30 2022n/an/a

-US$159m

Jun 30 2022n/an/a

-US$141m

Mar 31 2022n/an/a

-US$122m

Dec 31 2021US$6mUS$665k

-US$115m

Sep 30 2021n/an/a

-US$107m

Jun 30 2021n/an/a

-US$108m

Mar 31 2021n/an/a

-US$96m

Dec 31 2020US$4mUS$640k

-US$85m

Sep 30 2020n/an/a

-US$77m

Jun 30 2020n/an/a

-US$66m

Mar 31 2020n/an/a

-US$61m

Dec 31 2019US$2mUS$599k

-US$59m

Sep 30 2019n/an/a

US$63m

Jun 30 2019n/an/a

US$62m

Mar 31 2019n/an/a

US$64m

Dec 31 2018US$1mUS$625k

US$63m

Sep 30 2018n/an/a

-US$51m

Jun 30 2018n/an/a

US$153m

Mar 31 2018n/an/a

US$144m

Dec 31 2017US$3mUS$560k

US$114m

Sep 30 2017n/an/a

US$57m

Jun 30 2017n/an/a

-US$192m

Mar 31 2017n/an/a

-US$200m

Dec 31 2016US$9mUS$373k

-US$193m

Compensation vs Market: Glenn's total compensation ($USD9.82M) is about average for companies of similar size in the US market ($USD7.88M).

Compensation vs Earnings: Glenn's compensation has increased whilst the company is unprofitable.

CEO

Glenn Sblendorio (67 yo)

6yrs
Tenure
US$9,816,150
Compensation

Mr. Glenn P. Sblendorio, M.B.A., served as the President of IVERIC bio, Inc. (formerly, Ophthotech Corporation) since February 1, 2017 until May 01, 2021 and has been its Chief Executive Officer since July...

Leadership Team

NamePositionTenureCompensationOwnership
Glenn Sblendorio
CEO & Director6yrsUS$9.82m0.17%
$ 9.6m
Pravin Dugel
President & Director2.2yrsUS$4.63m0.15%
$ 8.1m
David Carroll
Senior VP6.3yrsUS$2.68m0.032%
$ 1.8m
Keith Westby
Senior VP & COO6.5yrsUS$2.66m0.029%
$ 1.6m
Christopher Simms
Senior VP & Chief Commercial Officer1.9yrsUS$2.67m0.024%
$ 1.3m
Samir Patel
Co-Founder and Consultant16.5yrsno datano data
Xiao-Ping Dai
Chief Technical Officer2.5yrsno datano data
Kathy Galante
Senior VP of Investor Relations & Corporate Communicationsno datano datano data
Todd Anderman
Senior VP5.4yrsno datano data
Amy Sheehan
Senior VP & Chief Human Resources Officer5.5yrsno datano data
Evelyn Harrison
Senior VP & Chief Clinical Operations Officer7.5yrsUS$411.67kno data
Guangping Gao
Chief Strategist of Gene Therapy3.7yrsno datano data
5.5yrs
Average Tenure
58yo
Average Age

Experienced Management: ISEE's management team is seasoned and experienced (5.5 years average tenure).

Board Members

NamePositionTenureCompensationOwnership
Glenn Sblendorio
CEO & Director6.2yrsUS$9.82m0.17%
$ 9.6m
Pravin Dugel
President & Directorless than a yearUS$4.63m0.15%
$ 8.1m
Axel Bolte
Independent Director15.9yrsUS$354.59k0.016%
$ 882.5k
Adrienne Graves
Independent Chairman of the Board4.6yrsUS$398.34k0.016%
$ 882.5k
Mark Blumenkranz
Independent Director3yrsUS$354.59k0.023%
$ 1.3m
Carl Regillo
Member of Scientific Advisory Boardno datano datano data
Calvin Roberts
Independent Director4.5yrsUS$365.84k0.034%
$ 1.9m
Jane Pritchett Henderson
Independent Director5.5yrsUS$385.84k0.016%
$ 882.5k
Anat Lowenstein
Member of Scientific Advisory Boardno datano datano data
Jeffrey Heier
Member of Scientific Advisory Boardno datano datano data
Peter Kaiser
Member of Scientific Advisory Boardno datano datano data
Adnan Tufail
Member of Scientific Advisory Boardno datano datano data
4.6yrs
Average Tenure
64yo
Average Age

Experienced Board: ISEE's board of directors are considered experienced (4.6 years average tenure).

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2023/07/12 04:29
End of Day Share Price 2023/07/10 00:00
Earnings2023/03/31
Annual Earnings2022/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

IVERIC bio, Inc. is covered by 14 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Yuan ZhiB. Riley Securities, Inc.
Ling WangBTIG
Gbolahan Amusa BenzChardan Capital Markets, LLC