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The latest announcement is out from Opthea ( (AU:OPT) ).
Opthea Limited has simplified its operations and resolved significant financial liabilities by settling with DFA investors, which has clarified its future cash resources. The company has significantly reduced its operating costs, with research and development expenses declining by 80% and personnel costs by 94% compared to the previous quarter. Opthea’s cash position is expected to strengthen with the receipt of an R&D tax incentive, providing flexibility for future initiatives. The company is currently undergoing a strategic review to explore value-building opportunities and intends to update stakeholders later in the year.
The most recent analyst rating on (AU:OPT) stock is a Sell with a A$0.05 price target. To see the full list of analyst forecasts on Opthea stock, see the AU:OPT Stock Forecast page.
More about Opthea
Opthea Limited operates in the biotechnology industry, focusing on the development of therapies for eye diseases. The company is listed on both the ASX and NASDAQ, and it is engaged in strategic reviews to optimize shareholder value through its internal assets and intellectual property holdings.
Technical Sentiment Signal: Sell
Current Market Cap: A$738.8M
For an in-depth examination of OPT stock, go to TipRanks’ Overview page.