Opthea Limited (ASX:OPT) Releases Q2 FY25 Activity Report
Operational Achievements
Opthea Limited presented at the JPM Healthcare Conference and published results from the Phase 1b trial of sozinibercept combination therapy in diabetic macular edema. The company also shared patient demographics from its fully enrolled Phase 3 pivotal trials, COAST and ShORe, targeting wet age-related macular degeneration (wet AMD).
Financial Performance
As of December 31, 2024, Opthea reported a cash balance of US$131.9 million, a decrease from US$167.5 million in the previous quarter. The company received a US$10.4 million (A$15.9 million) R&D Tax Incentive, which offset operational expenditures of US$46 million. Net operating cash outflow for Q2 FY25 was US$31.4 million, an improvement from US$41.2 million in the prior quarter.
Future Outlook
Opthea plans to use proceeds from current and future capital raises to advance sozinibercept’s clinical development and prepare for potential commercial activities. The company aims to support regulatory submissions and achieve commercialization of sozinibercept for wet AMD.
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