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Opthea Phase 3 Trial Fails To Meet Primary Endpoint, Faces Financial Uncertainty - Opthea (NASDAQ:OPT)

Opthea Limited's Phase 3 clinical trial, COAST, did not meet its primary endpoint for best corrected visual acuity in patients with wet age-related macular degeneration.
Participants receiving sozinibercept achieved mean changes in best corrected visual acuity of 13.2 letters, similar to aflibercept's 13.8 letters, indicating no significant difference from baseline.
Following the trial's failure, Opthea is reviewing its obligations under its Development Funding Agreement, which could impose payments affecting its financial stability.
Trading of Opthea's shares has been suspended until more clarity is provided on the company's status.

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defenseworld.net

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Opthea (NASDAQ:OPT) Receives “Underperform” Rating from Jefferies Financial Group

Jefferies Financial Group restated their underperform rating on shares of Opthea (NASDAQ:OPT – Free Report) in a research report sent to investors on Tuesday, MarketBeat.com reports. Jefferies Financial Group currently has a $1.00 target price on the stock, down from their prior target price of $8.00. A number of other brokerages have also recently weighed in on OPT. Canaccord Genuity Group raised Opthea to a “strong-buy” rating in a research no…

7 days ago

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Australian Financial Review

Lean Right

Regal’s listed funds slash value of biotech Opthea by two-thirds

The hedge fund run by veteran stockpicker Phil King has told investors that the eye treatment play is worth 20¢ per share. It is the company’s largest investor.

8 days ago·Sydney, Australia

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Benzinga

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Opthea Phase 3 Trial Fails To Meet Primary Endpoint, Faces Financial Uncertainty - Opthea (NASDAQ:OPT)

On Monday, Opthea Limited (NASDAQ:OPT) released results from its global Phase 3 clinical trial COAST in patients with wet age-related macular degeneration (wet AMD). The trial evaluated the efficacy and safety of intravitreally administered 2 mg sozinibercept every four or eight weeks in combination with 2 mg Regeneron Pharmaceuticals Inc’s (NASDAQ:REGN) Eylea (aflibercept), as per label, every eight weeks after a loading phase for wet AMD. The …

9 days ago·New York, United States

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Stocks Down Under

Opthea (ASX:OPT): Its a tragedy to see the dream is (most likely) over after poor Phase 3 data

It has been a few years since investors have paid attention to biotech Opthea (ASX:OPT) on the scale that they have in the past week or so. Since its stellar Phase 2 trial results in 2019, it has toiled away at a Phase 3 trial. Well, the company finally got the results back and it…

6 days ago

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hcplive.com

Sozinibercept for Wet AMD Misses Primary Endpoint in Phase 3 COAST Trial

The pivotal trial investigating sozinibercept combination therapy failed to meet the primary endpoint of mean change in BCVA at 52 weeks.

7 days ago

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optometrytimes.com

Opthea phase 3 COAST clinical trial in patients with wet AMD fails to meet primary endpoint

In light of trial results, the company is preparing for financial outcomes dependent on its Development Funding Agreement, warranting a reexamination of Opthea's future.

8 days ago

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