Welcome to our dedicated page for Opthea American Depositary Shares news (Ticker: OPT), a resource for investors and traders seeking the latest updates and insights on Opthea American Depositary Shares stock.
Opthea Limited (symbol: OPT) is a pioneering Australian biotechnology company dedicated to developing innovative biologic therapies for eye diseases. With a strong focus on medical technology and healthcare, Opthea's primary mission is to address unmet medical needs through advanced therapeutic solutions.
Opthea's flagship product, OPT-302, is a groundbreaking biologic treatment designed to inhibit VEGF-C and VEGF-D, which are critical factors in abnormal blood vessel growth and leakage. These mechanisms are commonly associated with eye conditions such as wet age-related macular degeneration (wet AMD). Currently, OPT-302 is undergoing a Phase 1/2a clinical trial to evaluate its safety and efficacy in patients suffering from wet AMD, marking a significant milestone in the company's development pipeline.
The company's robust intellectual property portfolio underpins its research and development efforts, covering essential targets like VEGF-C, VEGF-D, and VEGF Receptor-3. These assets form the foundation of Opthea's strategy to develop advanced treatments aimed at reducing vascular leakage and managing diseases linked to blood and lymphatic vessel growth.
Recent achievements underscore Opthea's commitment to advancing its clinical programs. The company has launched a fully underwritten Retail Entitlement Offer, inviting eligible retail shareholders in Australia and New Zealand to participate. This initiative is part of Opthea's broader strategy to secure funding and support the continued development of OPT-302.
Participants in the Placement and Entitlement Offer will receive new options, each exercisable at A$0.80, set to expire on 31 August 2025. These options are expected to be quoted on the ASX, providing additional investment opportunities for shareholders.
Investment in biotechnology firms like Opthea entails inherent risks, including the lengthy clinical trial process, patent protection uncertainties, and rapid technological advancements. However, Opthea's focused approach and strategic partnerships position it as a promising player in the biotech space. For detailed information on participation and investment opportunities, refer to the Prospectus available on the ASX website and Opthea's official site.
For more updates and information, investors and media can contact:
Media: Hershel Berry (hberry@bplifescience.com)
Investor: PJ Kelleher (pkelleher@lifesciadvisors.com)
Opthea has launched a fully underwritten retail entitlement offer to raise approximately A$55.0 million (US$36.9 million). The offer opens on June 19, 2024, and closes on July 10, 2024. Eligible retail shareholders can purchase new shares on a 1-for-1.22 basis and will receive options to acquire additional shares on a 1-for-3 basis. This follows a successful institutional entitlement offer and placement that raised A$171.5 million (US$113.2 million). Funds will support the clinical development of sozinibercept for treating wet AMD, including Phase 3 trials COAST and ShORe, and other general corporate purposes.
Opthea has successfully completed the institutional component of its capital raising, generating approximately A$171.5 million (US$113.2m). This includes an institutional placement and an entitlement offer. Eligible institutional shareholders took up around 61.4% of their entitlements. The company plans to issue about 428.7 million new shares at A$0.40 each, with the underwriter receiving 55.4 million shares. Additionally, a retail entitlement offer aims to raise A$55.9 million (US$36.9m) between June 19 and July 10, 2024.
The funds will support Opthea through Phase 3 trials of sozinibercept for wet AMD, expected to deliver results by mid-2025, and will also be used for manufacturing, regulatory preparations, and general corporate purposes. Participants in the offer will receive options exercisable at A$1.00, expiring on June 30, 2026. The Retail Entitlement Offer is fully underwritten and details are provided in the Prospectus available on Opthea's website.
Opthea (ASX/NASDAQ: OPT) has announced a capital raising initiative to secure up to A$227.3 million (US$150 million). This includes a A$10 million placement and a A$217.3 million Accelerated Non-Renounceable Entitlement Offer (ANREO). The raised funds will support the Phase 3 clinical trials of sozinibercept for wet AMD, with topline data expected in early and mid-2025. The capital will also progress chemistry, manufacturing, and Biologics License Application (BLA) preparations for FDA approval. The offer price is set at A$0.40 per share, representing discounts to recent trading prices. MST Financial Services will act as the placement agent and lead manager, with BofA Securities and Leerink Partners advising the transactions.
Opthea, a clinical-stage biopharmaceutical company, will present at the Clinical Trials at the Summit (CTS) Meeting in Park City, Utah, on June 8, 2024. Key presentations will include discussions by CEO Frederic Guerard, and scientific presentations by Megan Baldwin and Julie Clark, focusing on the sozinibercept (OPT-302) clinical trial program for wet age-related macular degeneration (wet AMD). The CTS meeting is a significant event that gathers global experts to discuss the latest clinical trials and advancements in vitreoretinal care.
Opthea announced the completion of enrollment for its pivotal Phase 3 clinical program with sozinibercept for wet age-related macular degeneration (wet AMD). The program includes two trials, COAST and ShORe, enrolling 1,984 patients combined. These trials aim to replicate the superior visual outcomes demonstrated in the Phase 2b study. Topline data is anticipated by mid-2025. The trials will compare the efficacy and safety of sozinibercept combined with standard anti-VEGF-A therapies against standard care alone. The primary endpoint is the mean change in Best Corrected Visual Acuity (BCVA) over 52 weeks, with ongoing safety evaluations for up to two years.
Opthea (OPT) announced its participation in the Retina World Congress 2024 to present scientific updates on sozinibercept (OPT-302) Phase 2 trial results and Phase 3 program. CEO Frederic Guerard and other key professionals will discuss the latest advancements in wet age-related macular degeneration treatment.
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