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An announcement from Opthea Limited ( (AU:OPT) ) is now available.
Opthea Limited has announced the discontinuation of its Phase 3 trials, COAST and ShORe, for wet AMD after the trials did not meet their primary endpoints. The company is assessing the impact of these negative results on its Development Funding Agreement and its status as a going concern. Opthea’s financial stability is uncertain, with ongoing discussions with investors and a suspension of trading in its securities until further clarity is provided.
More about Opthea Limited
Opthea Limited is a clinical-stage biopharmaceutical company focused on developing novel therapies for treating prevalent and progressive retinal diseases, including wet age-related macular degeneration (wet AMD).
YTD Price Performance: 9.09%
Technical Sentiment Signal: Sell
Current Market Cap: $465.6M
See more insights into OPT stock on TipRanks’ Stock Analysis page.
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