Opthea Reported A Drop Of 11.6% In Revenue During FY2020

Opthea Limited (ASX:OPT) has released its FY2020 results and reported a fall in its revenue by 11.6% to A$808,405. Loss from the ordinary activities which was A$20,910,061 in FY2019 decreased to A$16,529,281 in FY20.

The major expenses during the period was related to R&D, especially costs related to the Phase 2b and Phase1b/2a clinical trials of OPT?302 for wet AMD and DME. Direct R&D expenses amounted to A$17,954,073.

Moreover, OPT received an R&D tax incentive payment of A$14,636,973 during FY2020.

At AEST 12:06 PM, OPT shares we trading at $2.510, up by 0.803%.

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