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Opthea Priced, Nasdaq: OPT

Australian Phase 3 biotech developing VEGF inhibitors for wet AMD.

Industry: Health Care

Latest Trade: $6.58 0.00 (0.0%)

First Day Return: -8.9%

Return from IPO: -51.3%

Industry: Health Care

We are a clinical stage biopharmaceutical company developing a novel therapy for the treatment of highly prevalent and progressive retinal diseases. We are developing our Phase 3-ready product candidate, OPT-302, a biologic designed to inhibit VEGF-C and VEGF-D, to complement VEGF-A inhibitors for the treatment of ophthalmic diseases. Anti-VEGF-A therapies represent the standard of care for wet age-related macular degeneration, or AMD, and other retinal diseases; however, there remains a significant unmet medical need as many patients do not adequately respond to these treatments. Our lead indication for OPT-302 combination therapy is wet AMD, a chronic, progressive disease and the leading cause of vision loss for individuals over the age of 50. In a 366-patient Phase 2b clinical trial for the treatment of wet AMD, 2.0 mg OPT-302, in combination with a standard of care anti-VEGF-A therapy, ranibizumab (Lucentis), met the primary endpoint of a statistically significant superior mean gain in visual acuity over ranibizumab monotherapy at week 24. We intend to initiate two pivotal Phase 3 clinical trials in treatment-naive patients with wet AMD to evaluate the efficacy and safety of OPT-302 in combination with anti-VEGF-A therapies compared to anti-VEGF-A monotherapy in the first half of 2021. We expect to report topline data from these Phase 3 clinical trials in 2023.
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IPO News for Opthea
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IPO Data
IPO File Date 09/24/2020
Offer Price $13.50
Price Range $13.50 - $13.50
Offer Shares (mm) 9.5
Deal Size ($mm) $128
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
IPO Data
IPO Date 10/16/2020
Offer Price $13.50
Price Range $13.50 - $13.50
Offer Shares (mm) 9.5
Deal Size ($mm) $128
Lock-Up Date IPO Pro Only
Street Research IPO Pro Only
Underwriters
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Company Data
Headquarters South Yarra, Australia
Founded 1984
Employees 8
Website www.opthea.com