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Opthea Limited (OPT)

Sector - Healthcare

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IPO Profile

About company

They are a clinical stage biopharmaceutical company developing a novel therapy for the treatment of highly prevalent and progressive retinal diseases. They are developing their Phase 3-ready product candidate, OPT-302, a biologic designed to inhibit VEGF-C and VEGF-D, to complement VEGF-A inhibitors for the treatment of ophthalmic diseases. Anti-VEGF-A therapies represent the standard of care for wet age-related macular degeneration, or AMD, and other retinal diseases; however, there remains a significant unmet medical need as many patients do not adequately respond to these treatments. Their lead indication for OPT-302 combination therapy is wet AMD, a chronic, progressive disease and the leading cause of vision loss for individuals over the age of 50. In a 366-patient Phase 2b clinical trial for the treatment of wet AMD, 2.0 mg OPT-302, in combination with a standard of care anti-VEGF-A therapy, ranibizumab (Lucentis), met the primary endpoint of a statistically significant superior mean gain in visual acuity over ranibizumab monotherapy at week 24. They intend to initiate two pivotal Phase 3 clinical trials in treatment-naive patients with wet AMD to evaluate the efficacy and safety of OPT-302 in combination with anti-VEGF-A therapies compared to anti-VEGF-A monotherapy in the first half of 2021. They expect to report topline data from these Phase 3 clinical trials in 2023.
Industry
BIOLOGICAL PRODUCTS (NO DIAGNOSTIC SUBSTANCES)
CEO CFO
Megan Baldwin Michael Tonroe
Employees Founded
8 1984

Contacts

Address: Level 4 650 Chapel Street South Yarra, Victoria 3141 Australia

Telephone: + 61 3 9826 0399

Web page: http://www.opthea.com

IPO information

Expected Date 10/16/2020
Status Priced
Exchange NASDAQ
Lockup Period Expiration .Pro
Quiet Period Expiration .Pro
Old Price Range
-
Share prices ($)

Financial Data (last reporting year)

Market Cap (MM) -
Revenues (MM) $0.09
Net Income (Loss) (MM) $-16.5

Voting

What do you think will happen with the OPT share price after the next 3-6 months? 🔥 (+ 10% or more, flat (+ -10%), -10% or less)

Number of votes: img
Shares Initial (MM) 9.3
Shares Revised (MM) 9.5
Expected offer amount (MM) $150
Realized offer amount(MM) $128.25
Underwriters
Citigroup/ SVB Leerink
CO-Managers
Truist Securities/ Oppenheimer & Co

Sector: Healthcare

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