Opthea A$55.0m (US$36.9m¹) Retail Entitlement Offer Opens

Core Viewpoint - Opthea Limited is conducting a fully underwritten Retail Entitlement Offer to raise approximately A$55.0 million (US$36.9 million) to support the clinical development of its lead product candidate, sozinibercept, for treating wet age-related macular degeneration (wet AMD) [2][25]. Group 1: Retail Entitlement Offer Details - The Retail Entitlement Offer opens at 9:00 am (Melbourne time) on June 19, 2024, and closes at 5:00 pm (Melbourne time) on July 10, 2024 [1][26]. - Eligible Retail Shareholders can participate in a 1 for 1.22 pro-rata accelerated non-renounceable entitlement offer, with the opportunity to apply for additional New Shares up to 25% of their entitlement [2][26]. - The offer includes the issuance of options to acquire fully paid ordinary shares on a 1 for 3 basis for participants who receive New Shares [2][22]. Group 2: Financial Context - The Retail Entitlement Offer follows a successful Institutional Entitlement Offer and institutional Placement that raised approximately A$171.5 million (US$113.2 million) [2]. - The funds raised will be used to advance the clinical development of sozinibercept, including funding for Phase 3 topline data readouts and preparations for FDA approval [25]. Group 3: Clinical Development - Sozinibercept is currently being evaluated in two pivotal Phase 3 clinical trials (COAST and ShORe) to assess its efficacy in combination with standard-of-care anti-VEGF-A therapies [6][25]. - The trials aim to demonstrate improved overall efficacy and vision gains compared to existing treatments [6]. Group 4: Company Overview - Opthea Limited is a clinical-stage biopharmaceutical company focused on developing novel therapies for retinal diseases, particularly wet AMD and diabetic macular edema [14].