Opthea Limited
AASX:OPT0.01
AUD
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Opthea Limited
ASX:OPT
(Australian Securities Exchange)
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- Opthea Limited Opthea Limited (ASX:OPT.AX), a clinical-stage biopharmaceutical company, develops novel therapies targeting vascular endothelial growth factors (VEGF) C, D, and R3 to treat vision-threatening retinal diseases including wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME); its lead product candidate, sozinibercept (OPT-302), comprises a first-in-class VEGF-C/D trap inhibitor designed for combination use with standard-of-care anti-VEGF-A therapies such as ranibizumab to deliver superior visual outcomes by addressing incomplete responses from VEGF-A inhibition alone. Incorporated in 1984 and headquartered in Melbourne, Australia, the company operates primarily in Australia and the United States, serving the biotechnology and healthcare industries through its research and development pipeline focused on back-of-the-eye conditions that affect millions worldwide and remain leading causes of blindness. With approximately 33 employees, Opthea maintains a streamlined operational framework encompassing preclinical studies, clinical trials, partnerships, and regulatory pursuits to advance sozinibercept toward commercialization. In June 2024, Opthea completed a placement and partially underwritten entitlement offer raising up to A$227.3 million (US$150 million) to extend its cash runway through anticipated Phase 3 topline data readouts for the fully enrolled COAST and ShORe trials in wet AMD, with COAST results expected in early Q2 2025 and ShORe in mid-2025; the company also underwent a 2024 restructuring to reduce costs following mixed prior trial outcomes and recently reached a settlement with DFA Investors involving a US$20 million cash payment and issuance of 136.7 million shares, resolving potential obligations up to US$680 million. Formerly known as Circadian Technologies Limited, Opthea continues to pioneer innovation in retinal health with sozinibercept positioned as a potential first new therapy in 20 years to enhance vision beyond current standards for wet AMD patients.