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Opthea ( (AU:OPT) ) has shared an update.
Opthea announced the discontinuation of its wet AMD trials after the COAST and ShORE Phase III trials failed to meet primary endpoints, leading to a 65% reduction in staff. The company remains in discussions with its Development Funding Agreement investors to explore options for the future, amid uncertainties about its ability to continue as a going concern. Opthea’s cash balance decreased to $101.4 million by the end of March 2025, reflecting operational spending and trial advancements, while the company is in trading suspension.
More about Opthea
Opthea is a clinical-stage biopharmaceutical company focused on developing novel therapies to treat prevalent and progressive retinal diseases, such as wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME).
YTD Price Performance: 9.09%
Technical Sentiment Signal: Sell
Current Market Cap: $474.9M
Learn more about OPT stock on TipRanks’ Stock Analysis page.