From GlobeNewswire: 2025-02-28 07:00:00

Opthea Limited reported cash and cash equivalents of $131.9M as of December 31, 2024. The company’s cash runway extends through anticipated topline data readouts of COAST in early 2Q CY25 and ShORe in mid-CY25. Opthea, a biopharmaceutical company, is focused on developing therapies for retinal diseases, including wet AMD.

The company’s CEO, Frederic Guerard, highlighted the potential of Sozinibercept to improve visual outcomes in wet AMD patients. Opthea expects its cash reserves to fund operations through the topline data readouts of the Phase 3 COAST and ShORe trials. The company is also preparing for the potential launch of Sozinibercept in wet AMD.

Opthea recently completed key milestones, including a Drug Product PPQ campaign and week 52 last patient last visit in the COAST Phase 3 trial. The company appointed new executives, published scientific research, and completed a retail entitlement offer. Opthea’s financial results for the half-year ended December 31, 2024, showed a net loss of $131.9 million.

Sozinibercept, Opthea’s lead product candidate, is a first-in-class VEGF-C/D ‘trap’ inhibitor designed to improve vision in wet AMD patients. The therapy aims to prevent blood vessel growth and vascular leakage, common issues in retinal diseases. Opthea’s clinical program includes Phase 3 trials evaluating Sozinibercept’s safety and efficacy.

Wet AMD affects millions of people globally and remains a leading cause of vision loss in the elderly. Opthea aims to address this unmet medical need with its innovative therapies. The company’s focus on developing treatments for vision-threatening eye diseases, such as wet AMD and DME, underscores its commitment to improving patient outcomes.



Read more at GlobeNewswire:: Opthea Reports Half Year Results and Business Updates