Opthea Announces Presentation at the Angiogenesis, Exudation, and Degeneration 2022 Conference

Rhea-AI Summary

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.

Positive

• Presentation of clinical trial results could enhance market visibility and investor confidence.
• Lead product candidate OPT-302 is in pivotal Phase 3 trials, indicating progress in drug development.

Negative

• Investment in biotech is highly speculative due to the risk of drug development failures.
• Uncertainties regarding patent protection and regulatory approvals may hinder product commercialization.

MELBOURNE, Australia, Feb. 09, 2022 (GLOBE NEWSWIRE) -- Opthea Limited (ASX:OPT; NASDAQ:OPT), a clinical stage biopharmaceutical company developing novel therapies to treat highly prevalent and progressive retinal diseases, announced that an oral presentation will be presented at the Bascom Palmer Eye Institute Angiogenesis, Exudation, and Degeneration 2022 conference, taking place from February 11-12, 2022.

Professor Gemmy Cheung will present data from patients with polypoidal choroidal vasculopathy (PCV), a common subtype of wet AMD, that were enrolled in Opthea’s Phase 2b clinical trial which investigated OPT-302 with ranibizumab (Lucentis^®) compared to ranibizumab alone.

Details for the oral presentation are as follows:

Presentation Title: OPT-302 Combination Therapy with Ranibizumab for Treatment of Polypoidal Choroidal Vasculopathy

Presenter: Gemmy Cheung MBBS, FRCOphth, FAMS, MCI. Head and Senior Consultant, Medical Retina Department, Singapore National Eye Center, Singapore Eye Research Institute, Singapore

Date and Time: Saturday, February 12, 8:40 AM ET

About Opthea Limited

Opthea (ASX:OPT; Nasdaq:OPT) is a biopharmaceutical company developing novel therapies to address the unmet need in the treatment of highly prevalent and progressive retinal diseases, including wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). Opthea’s lead product candidate OPT-302 is in pivotal Phase 3 clinical trials and being developed for use in combination with anti-VEGF-A monotherapies to achieve broader inhibition of the VEGF family, with the goal of improving overall efficacy and demonstrating superior vision gains over that which can be achieved by inhibiting VEGF-A alone.

Inherent risks of Investment in Biotechnology Companies

There are a number of inherent risks associated with the development of pharmaceutical products to a marketable stage. The lengthy clinical trial process is designed to assess the safety and efficacy of a drug prior to commercialization and a significant proportion of drugs fail one or both of these criteria. Other risks include uncertainty of patent protection and proprietary rights, whether patent applications and issued patents will offer adequate protection to enable product development, the obtaining of necessary drug regulatory authority approvals and difficulties caused by the rapid advancements in technology. Companies such as Opthea are dependent on the success of their research and development projects and on the ability to attract funding to support these activities. Investment in research and development projects cannot be assessed on the same fundamentals as trading and manufacturing enterprises. Therefore, investment in companies specializing in drug development must be regarded as highly speculative. Opthea strongly recommends that professional investment advice be sought prior to such investments.

Authorized for release to ASX by Megan Baldwin, CEO & Managing Director

Company & Media Enquiries:

U.S.A. & International: Sam Martin Argot Partners Tel: +1 212-600-1902

Australia: Rudi Michelson Monsoon Communications Tel: +61 (0) 3 9620 3333

FAQ

What is the focus of Opthea Limited's presentation at the 2022 conference?

Opthea will present data on its Phase 2b trial of OPT-302 combined with ranibizumab for treating polypoidal choroidal vasculopathy.

When will Opthea Limited present at the Bascom Palmer Eye Institute conference?

Opthea will present on February 12, 2022, at 8:40 AM ET.

What is OPT-302 and why is it significant for Opthea Limited?

OPT-302 is Opthea's lead product candidate in Phase 3 trials aimed at treating retinal diseases, promising improved treatment outcomes.

What risks are associated with investing in Opthea Limited?

Investing in Opthea is highly speculative due to the inherent risks in drug development, including potential clinical trial failures and regulatory hurdles.