Opthea Receives Commitments To Raise $50 Million Via Private Placement

December 02, 2019 01:15 PM AEDT
Team Kalkine

Opthea Limited (ASX: OPT) has received commitments from sophisticated and institutional investors in Australia and the UK to raise $50 million through a private placement.

The funds raised through the placement would support in the late-stage clinical development of OPT-302 as a treatment for wet Age-related Macular Degeneration (AMD).
The funds would also be used in the production of adequate quantities of clinical grade OPT-302 for Phase 3 clinical development and the initiation of two simultaneous Phase 3 pivotal registrational trials in wet AMD patients.

At AEST: 1:05 PM, OPT shares quoted $3.09, up 13.3% from its previous close.

Disclaimer

The website https://kalkinemedia.com/au is a service of Kalkine Media Pty. Ltd. (Kalkine Media) A.C.N. 629 651 672. The principal purpose of the content on this website is to provide factual information only and does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) or engage in any investment activity under discussion. We are neither licensed nor qualified to provide investment advice through this platform. In providing you with the content on this website, we have not considered your objectives, financial situation or needs. You should make your own enquiries and obtain your own independent advice prior to making any financial decisions.
Some of the images that may be used on this website are copyright to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed on this website unless stated otherwise. The images that may be used on this website are taken from various sources on the web and are believed to be in public domain. We have used reasonable efforts to accredit the source (public domain/CC0 status) to where it was found and indicated it below the image. The information provided on the website is in good faith, however Kalkine Media does not make any representation or warranty regarding the content, accuracy, or use of the content on the website.