Opthea Limited (AU:OPT)
ASX:OPT
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Opthea
(Sydney:OPT)
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Rating:39Underperform
Price Target:
AU$0.02
▼(-97.50% Downside)
Action:Downgraded
Date:06/05/26
The score is weighed down primarily by weak financial performance (minimal/volatile revenue, large recurring losses, and heavy ongoing cash burn with negative equity) and very weak technical momentum signals. Valuation contributes limited support due to negative earnings and no stated dividend yield.
Positive Factors
Differentiated drug mechanism
Opthea’s lead candidate targets VEGF-C/D and is designed to be combined with anti-VEGF-A therapies. That complementary mechanism is a durable competitive advantage in retinal disease, potentially improving outcomes versus monotherapy and creating a differentiated product profile on commercialization.
Negative Factors
Persistent heavy cash burn
Sustained operating and free cash outflows of ~-159M annually indicate the company consumes large amounts of capital to fund trials. This persistent burn creates lasting reliance on external financing, increasing dilution risk and constraining strategic flexibility absent new funding sources.
Read all positive and negative factors
Positive Factors
Negative Factors
Differentiated drug mechanism
Opthea’s lead candidate targets VEGF-C/D and is designed to be combined with anti-VEGF-A therapies. That complementary mechanism is a durable competitive advantage in retinal disease, potentially improving outcomes versus monotherapy and creating a differentiated product profile on commercialization.
Read all positive factors
Opthea (OPT) vs. iShares MSCI Australia ETF (EWA)
Market Cap
AU$19.15M
Dividend YieldN/A
Average Volume (3M)0.00
Price to Earnings (P/E)―
Beta (1Y)2.14
Revenue Growth-98.07%
EPS GrowthN/A
CountryAU
Employees33
SectorHealthcare
Sector Strength45
IndustryBiotechnology
Share Statistics
EPS (TTM)-0.14
Shares Outstanding1,367,978,100
10 Day Avg. Volume0
30 Day Avg. Volume0
Financial Highlights & Ratios
PEG Ratio0.07
Price to Book (P/B)-3.65
Price to Sales (P/S)29392.74
P/FCF Ratio-4.63
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)>-0.01
Revenue Forecast (FY)AU$200.00K
Opthea Business Overview & Revenue Model
Company Description
Opthea Limited, a clinical stage biopharmaceutical company, develops and commercializes therapies primarily for eye disease in Australia. The company's development activities are based on the intellectual property portfolio covering Vascular Endot...
How the Company Makes Money
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Opthea Financial Statement Overview
Summary
Income Statement
8
Very Negative
Balance Sheet
18
Very Negative
Cash Flow
10
Very Negative
| Breakdown | Jun 2025 | Jun 2024 | Jun 2023 | Jun 2022 | Jun 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 25.00K | 124.67K | 108.00K | 125.05K | 91.98K |
| Gross Profit | 25.00K | 124.67K | -89.31K | -107.42K | -360.29K |
| EBITDA | -123.19M | -199.29M | -134.88M | -99.01M | -50.14M |
| Net Income | -162.79M | -220.24M | -211.88M | -127.99M | -60.79M |
Balance Sheet | |||||
| Total Assets | 56.80M | 188.79M | 148.19M | 87.32M | 184.36M |
| Cash, Cash Equivalents and Short-Term Investments | 48.44M | 172.47M | 133.99M | 44.63M | 118.19M |
| Total Debt | 0.00 | 141.65M | 85.84M | 0.00 | 112.97K |
| Total Liabilities | 257.87M | 264.60M | 156.98M | 17.55M | 4.16M |
| Stockholders Equity | -201.07M | -75.81M | -8.79M | 69.77M | 180.20M |
Cash Flow | |||||
| Free Cash Flow | -158.66M | -161.05M | -179.34M | -98.39M | -61.08M |
| Operating Cash Flow | -158.64M | -161.02M | -179.30M | -98.37M | -61.06M |
| Investing Cash Flow | -13.00K | -33.49K | -32.64K | -16.91K | 656.48K |
| Financing Cash Flow | 34.77M | 243.73M | 167.28M | 171.60K | 116.94M |
Opthea Technical Analysis
Negative
0.60
Price Trends
0.56
Negative
0.58
Negative
0.59
Negative
Market Momentum
-0.11
Positive
0.20
Positive
0.33
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For AU:OPT, the sentiment is Negative. The current price of 0.6 is above the 20-day moving average (MA) of 0.51, above the 50-day MA of 0.56, and above the 200-day MA of 0.59, indicating a bearish trend. The MACD of -0.11 indicates Positive momentum. The RSI at 0.20 is Positive, neither overbought nor oversold. The STOCH value of 0.33 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for AU:OPT.
Opthea Peers Comparison
UnderperformOutperform
Sector (51)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
60 Neutral | AU$4.37B | -415.28 | -2.08% | ― | 59.13% | -121.52% | |
52 Neutral | AU$2.61B | -23.50 | -14.02% | ― | 1069.25% | 18.67% | |
51 Neutral | $7.86B | -0.30 | -43.30% | 2.27% | 22.53% | -2.21% | |
46 Neutral | AU$69.38M | -7.92 | -179.37% | ― | ― | 24.59% | |
44 Neutral | AU$861.56M | -8.50 | -59.59% | ― | ― | -70.72% | |
41 Neutral | AU$151.82M | -4.92 | 279.21% | ― | ― | -37.23% | |
39 Underperform | AU$19.15M | -6.37 | 132.37% | ― | -98.07% | ― |
* Healthcare Sector Average
AU:OPT
Opthea
0.02
-0.59
-97.50%
AU:CYP
Cynata Therapeutics Limited
0.29
0.11
67.65%
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Mesoblast Limited
2.05
0.29
16.81%
AU:TLX
Telix Pharmaceuticals
13.31
-12.67
-48.77%
AU:CU6
Clarity Pharmaceuticals Ltd.
2.25
-0.14
-5.86%
AU:RCE
Recce Pharmaceuticals Ltd.
0.52
0.21
68.85%
Opthea Corporate Events
Opthea relaunches on ASX with rare lung disease push for OPT-302
Jun 2, 2026
Opthea will be reinstated to trading on the ASX as it relaunches with a sharpened strategy built around advancing its VEGF-C/VEGF-D inhibitor OPT-302 for lymphangioleiomyomatosis, a rare, debilitating lung disease that primarily affects women and ...
Opthea calls virtual extraordinary general meeting for July 2026
Jun 2, 2026
Opthea Limited has scheduled an extraordinary general meeting to be held virtually on 3 July 2026 at 10:00 a.m. Melbourne time, allowing shareholders to participate online. The company has circulated the notice of meeting, explanatory notes and pr...
ASX Flags Delisting Risk for Long-Term Suspended Companies Over Reporting Delays
Apr 17, 2026
The Australian Securities Exchange has released an update on long-term suspended entities, listing companies whose securities have been halted from trading for more than three months and detailing their outstanding financial reporting obligations....
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
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