Opthea Ltd Stock Price, News & Analysis

Opthea Limited (ASX:OPT; NASDAQ:OPT) secured up to US$170 million in non-dilutive financing, with commitments for US$90 million in equity financing, completing a first tranche of US$41.9 million. The company is advancing its Phase 3 clinical trials for OPT-302 targeting wet AMD, aiming to complete patient recruitment by mid-CY2023 and report topline data by mid-CY2024. For the fiscal year ending June 30, 2022, Opthea reported a net loss of US$92.8 million. The management team has been expanded with new C-Suite appointments and board members.

MELBOURNE, Australia, Aug. 16, 2022 - Opthea Limited (ASX:OPT; NASDAQ:OPT) announces that CEO Dr. Megan Baldwin will speak at the H.C. Wainwright 2nd Annual Ophthalmology Virtual Conference on August 17, 2022. The presentation can be accessed on the Opthea website for 90 days starting at 7:00 AM ET (9:00 PM AET). Opthea is developing novel therapies for retinal diseases like wet AMD and DME, with its lead candidate OPT-302 currently in pivotal Phase 3 trials, aiming to enhance treatment efficacy against VEGF family inhibitions. Investments in biotechnology carry inherent risks.

Opthea Limited (ASX:OPT; NASDAQ:OPT) announced binding commitments for a two-tranche placement to raise approximately US$90 million (A$128.57 million) at A$1.15 per share, a 12.6% discount to the VWAP. A concurrent non-dilutive financing of up to US$170 million with Carlyle and Abingworth will support clinical trials for OPT-302, targeting wet age-related macular degeneration. The first tranche, generating US$42.5 million, is set for settlement on August 24, 2022, while the second is pending shareholder approval on September 26, 2022. Additionally, an SPP will allow eligible shareholders to purchase shares without fees.

Opthea Limited (ASX: OPT; NASDAQ: OPT) has announced a strategic non-dilutive financing deal worth up to US$170 million with Carlyle and Abingworth through Launch Therapeutics. The agreement includes an initial US$120 million commitment and an option for an additional US$50 million, aimed at advancing OPT-302's Phase 3 clinical trials for wet age-related macular degeneration (wet AMD). If OPT-302 is approved, these investors could receive milestone and variable payments based on net sales. Opthea also launched a US$90 million private placement and a US$5 million Share Purchase Plan.

Opthea Limited (ASX:OPT), a clinical stage biopharmaceutical company, announced CEO Dr. Megan Baldwin will present at two investor conferences in May 2022. The events include the Citi Biopharma Virtual Co-Panel Day on May 18, 2022, at 4:30 pm ET and the H.C. Wainwright Annual Global Life Sciences Conference on May 24, 2022, at 7:00 am ET. Both presentations will be available on the Investors page of Opthea's website for 90 days. Opthea focuses on developing therapies for retinal diseases, with its lead candidate OPT-302 in pivotal Phase 3 trials.

Opthea Limited (ASX:OPT; NASDAQ:OPT) announced a presentation at the Retina World Congress 2022, scheduled for May 12-15 in Fort Lauderdale, Florida. Dr. David Boyer will discuss OPT-302 Combination Therapy for wet AMD during a Phase 3 program aimed at demonstrating superiority over anti-VEGF-A monotherapy. The presentation will highlight the potential of OPT-302 to enhance treatment efficacy in retinal diseases, particularly in achieving superior vision gains.

The company emphasizes that its lead candidate is undergoing pivotal trials to address unmet medical needs.

Opthea Limited (ASX:OPT; Nasdaq: OPT) presented clinical data at the ARVO 2022 Annual Meeting regarding OPT-302's efficacy in treating Polypoidal Choroidal Vasculopathy (PCV). Dr. Jason Slakter presented findings showing that OPT-302 combined with ranibizumab yielded superior visual acuity gains compared to ranibizumab alone. Of 366 participants, 18% had PCV lesions. The combination therapy achieved an additional 6.7 letter gain in vision over six months. Positive feedback has been received, and ongoing Phase 3 trials are expected to enroll significant numbers of treatment-naïve patients.

Opthea Limited (ASX:OPT; NASDAQ:OPT) announced it will present novel clinical data at the ARVO 2022 conference in Denver, CO from May 1-4, 2022. Dr. Jason Slakter will present findings from a Phase 2b trial regarding OPT-302's safety and efficacy for polypoidal choroidal vasculopathy (PCV) alongside ranibizumab (Lucentis^®). This trial aims to better address the treatment of progressive retinal diseases. Opthea's lead candidate, OPT-302, is currently in pivotal Phase 3 trials, focused on improving vision gains compared to standard therapies.

Opthea Limited announces the election of Mr. Quinton Oswald and Dr. Susan Orr to its Board of Directors following a General Meeting on April 21, 2022. Both bring extensive experience in ophthalmology and biotech, with Mr. Oswald having held key roles in launching treatments for wet AMD. The company is currently conducting Phase 3 trials for its lead product, OPT-302, aimed at addressing critical needs in treating wet age-related macular degeneration. If successful, OPT-302 could transform patient care and fill a substantial gap in existing therapies.