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Clinical stage biopharmaceutical company: Opthea Limited (OPT) (1984)

Opthea Limited (NASDAQ:OPT, ASX:OPT) was founded in 1984 and is headquartered in Melbourne, Australia, with 8 full-time employees. It is a clinical-stage biopharmaceutical company dedicated to the development of a new type of therapy for the treatment of highly prevalent and progressive Retinal diseases.

Opthea Limited

Opthea Limited (OPT):

This is not an ordinary initial public offering (IPO), although the company stated that it is an initial public offering of its American Depositary Shares (ADS) in the United States. It is stated in the prospectus: Each ADS represents eight ordinary shares. The company’s common stock is listed on the Australian Securities Exchange under the ticker symbol “OPT”. On October 8, 2020, the common stock of Opthea Limited listed on the Australian Stock Exchange was converted to a price of US$17.26 per American Depositary Share based on the exchange rate of the day.

Opthea is developing OPT-302, a new type of VEGF-C and VEGF-D biological inhibitor, which can be used in combination with VEGF-A inhibitors to treat wet age-related macular degeneration (wet AMD) and diabetic macular edema ( DME). Opthea reported the following results:

  • A phase I/IIa clinical trial conducted in the United States studied the administration of OPT-302 as a monotherapy and combined with the VEGF-A inhibitor ranibizumab (Lucentis®) for a new diagnosis, no treatment Monotherapy for patients who have previously received anti-VEGF therapy;
  • Phase IIb randomized controlled clinical trial to study the use of Lucentis® alone and OPT-302 in combination with Lucentis® in untreated wet AMD patients;
  • Phase Ib/IIa clinical trial, investigating the combined use of OPT-302 and aflibercept (Eylea®) to treat persistent/refractory DME;
  • Opthea’s technology is based on extensive intellectual property rights related to VEGF-C, VEGF-D and VEGFR-3, which are held by Vegenics Pty Ltd, a 100% owned subsidiary of Opthea.

Opthea Limited (OPT) investment:

Opthea Limited (NASDAQ:OPT, ASX:OPT) plans to be listed on NASDAQ on 10/16/2020 IPO. The issue price will be converted according to the above-mentioned closing price of the company on the Australian Stock Exchange the day before, and the issue of 9.3 million Stocks, estimated to raise 160 million US dollars, underwritten by Citigroup/SVB Leerink, and joint Oppenheimer & Co./Truist Securities.

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