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Opthea ( (AU:OPT) ) just unveiled an announcement.
Opthea Limited announced a significant corporate update following the successful settlement of its Development Funding Agreement (DFA) with investors. The settlement involves issuing equity to investors and a one-time payment, ensuring Opthea remains solvent with approximately USD20 million in cash. This resolution allows Opthea to avoid potential liabilities of up to USD680 million and lifts the suspension of its stock trading. The company’s leadership will see changes, with Dr. Jeremy Levin taking on additional responsibilities as Chairman.
The most recent analyst rating on (AU:OPT) stock is a Buy with a A$1.25 price target. To see the full list of analyst forecasts on Opthea stock, see the AU:OPT Stock Forecast page.
More about Opthea
Opthea Limited operates in the biotechnology industry, focusing on the development of therapies for eye diseases. The company is primarily known for its work on treatments for wet age-related macular degeneration (AMD).
YTD Price Performance: -25.93%
Technical Sentiment Signal: Sell
Current Market Cap: A$738.8M
For an in-depth examination of OPT stock, go to TipRanks’ Overview page.