Opthea Ltd Stock Price, News & Analysis

Opthea Limited (ASX:OPT; Nasdaq:OPT) has appointed Dr. Joel Naor as Chief Medical Officer effective March 1, 2022. Dr. Naor, an experienced ophthalmologist and pharmaceutical executive, will advance the Phase 3 clinical development of OPT-302, a novel therapy for wet age-related macular degeneration (AMD). He brings over two decades of experience in clinical program development. Dr. Naor emphasized the potential of OPT-302 to improve vision outcomes in patients not responding optimally to existing treatments. Opthea aims to enhance its presence in the U.S. market amid the challenges of biopharmaceutical development.

Opthea Limited (ASX:OPT; Nasdaq:OPT) announced positive results from a Phase 2b clinical trial of its drug OPT-302 in patients with Polypoidal Choroidal Vasculopathy (PCV), a subtype of age-related macular degeneration. The data presented at the Angiogenesis, Exudation, and Degeneration 2022 Conference highlighted a +6.7 letters improvement in vision when OPT-302 was combined with ranibizumab compared to ranibizumab alone (p = 0.0253). These findings suggest that OPT-302 may provide superior vision outcomes and support further investigation in ongoing Phase 3 trials.

Opthea Limited (ASX:OPT; Nasdaq:OPT) announced that CEO Dr. Megan Baldwin will participate in a virtual fireside chat at the SVB Leerink Global Healthcare Conference from February 14-18, 2022. The chat will be available on their Investors page beginning February 17 at 2:20 pm ET (6:20 am AEDT). The company is focused on developing therapies for retinal diseases, with lead candidate OPT-302 in pivotal Phase 3 clinical trials aimed at enhancing treatment efficacy for conditions like wet AMD and DME.

Opthea Limited (ASX:OPT; NASDAQ:OPT) will present research at the Bascom Palmer Eye Institute conference on February 12, 2022. Professor Gemmy Cheung will discuss the Phase 2b clinical trial results of OPT-302 combined with ranibizumab for treating polypoidal choroidal vasculopathy, a subtype of wet AMD. The trial aims to demonstrate enhanced efficacy compared to ranibizumab alone. Opthea's lead product, OPT-302, is in Phase 3 trials to address unmet needs in retinal diseases. The company warns that investment in biotechnology carries significant risks due to the uncertainty in drug development.

Opthea Limited (ASX:OPT; Nasdaq:OPT) announced a A$6.6 million (US$4.9 million) research and development tax credit from the Australian Taxation Office. This credit pertains to R&D costs from the 2020/2021 financial year and strengthens the company's financial position as it advances global patient recruitment for its pivotal Phase 3 trials of OPT-302 in treating wet AMD. The R&D incentive supports both domestic and overseas expenditures, reflecting the company’s commitment to addressing retinal diseases.

Opthea Limited, a biopharmaceutical company focused on retinal diseases, announced that CEO Dr. Megan Baldwin will present at the H.C. Wainwright BIOCONNECT Conference from January 10-13, 2022. The pre-recorded presentation will be available starting January 10 at 7:00 am ET on Opthea's Investors page. Opthea's key product, OPT-302, is in pivotal Phase 3 trials aimed at improving outcomes for patients with wet age-related macular degeneration and diabetic macular edema. Investment in biotech carries inherent risks, including clinical trial failures and regulatory approval uncertainties.

Opthea Limited (ASX:OPT; Nasdaq:OPT) announces the appointment of Ms. Judith Robertson as its first Chief Commercial Officer (CCO), effective January 1, 2022. Ms. Robertson will lead global commercialization efforts for OPT-302, a drug targeting wet age-related macular degeneration. Previously, she served as CCO at Eleusis Ltd and Aerie Pharmaceuticals. CEO Dr. Megan Baldwin emphasized Ms. Robertson’s commercial expertise as instrumental in advancing Opthea’s Phase 3 registrational program. The company aims to establish a strong presence in the U.S. market with this leadership change.

Opthea Limited (ASX:OPT; Nasdaq:OPT) has received a Chinese patent for its molecule OPT-302, aimed at treating retinal diseases like wet AMD and diabetic macular edema. This patent, granted in the name of its subsidiary Vegenics Pty Limited, extends patent protection to February 2034. OPT-302 is currently being evaluated in two Phase 3 trials, ShORE and COAST. The patent supports commercialization plans in China, a key market due to its growing biologics sector and the efficacy shown in clinical studies.

Opthea Limited has commenced patient enrollment at the first clinical trial sites in the Asia-Pacific for the OPT-302 Phase 3 program, targeting wet age-related macular degeneration (AMD). This milestone follows successful patient recruitment in the U.S., Canada, and Europe. The ShORe and COAST trials aim to assess the efficacy of OPT-302 in combination with existing therapies, with results expected by late 2023. The FDA has granted Fast Track status to OPT-302, facilitating quicker development for this unmet medical need.