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IPO Lockup Expiration: Opthea Limited

opthealimited april12 lt

The lockup period of Melbourne, Australia-based Opthea (OPT) ends on April 14, 2021.

Founded in 1984, Opthea is a clinical-stage biopharmaceutical company developing a novel therapy for the treatment of retinal diseases.

The lead biologic product candidate OPT-302 is in pivotal phase III trial in combination with Lucentis for the treatment of wet AMD, dubbed ShORe, and also in another phase III trial in combination with Eylea for the treatment of wet AMD, dubbed COAST. The data from these trials are anticipated in 2023.

The company is also planning to explore the potential of co-formulated OPT-302 for the treatment of wet AMD. An investigative new drug application for the co-formulated product is expected to be filed in the second half of 2021.

OPT-302 in combination Eylea, under a phase Ib/IIa trial in patients with treatment-refractory diabetic macular edema Full data from the phase IIa part of the trial, including final outcomes at Week 24, are expected in the second half of this year.

Last month, Opthea received an initial Pediatric Study Plan (iPSP) waiver from the US FDA for OPT-302 for the treatment of wet age-related macular degeneration. The receipt of the iPSP waiver means the company will not have to conduct an additional study in the pediatric population.

Opthea made its debut on the Nasdaq Global Select Market on October 16, 2020, offering its shares at $13.50 per ADS and as mentioned above, the 180 day lockup period will end on April 14, 2021.

OPT opened the first day of trading on October 16, at $11.05 and closed at $12.30 that day. The stock has thus far hit a low of $8.45 and a high of $14.00.

OPT closed Tuesday's trading at $10.05, up 4.04%.

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