Opthea Announces Placement and Partially Underwritten Entitlement Offer to Raise up to Approximately A$227.3 million (US$150.0 million)
Opthea expects the net proceeds from the Placement and Entitlement Offer, together with cash on hand, to fund the Company, through the anticipated Phase 3 topline data readouts for COAST (Combination OPT-302 with Aflibercept Study), and ShORe (Study of OPT-302 in combination with Ranibizumab). The funds are also intended to be used to progress chemistry, manufacturing, and controls (CMC) activities, Biologics License Application (BLA) preparations for FDA approval, and for general corporate purposes.
Based on the completion of enrollment in COAST in February 2024 and ShORe in May 2024, as well as Opthea’s internal expansion of its clinical development team, the topline data readout of COAST is now accelerated to early in the second calendar quarter of 2025, and the topline data readout for ShORe is anticipated in mid-calendar year 2025.
To read full press release: https://lnkd.in/eufQw4Ep
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Director Of Business Development at Adare Pharma Solutions
7moCongratulations Dr. Song Hee Lee... wishing you success and decisive safety outcomes.