Opthea Limited (OPT): history, ownership, mission, how it works & makes money

A Brief History of Opthea Limited (OPT)

Foundation and Early Years

Opthea Limited was founded in 2006, originally known as Novogen Limited. The company was established with a focus on developing new therapies for serious diseases, particularly in the area of oncology. In 2015, Novogen Limited underwent a rebranding and officially changed its name to Opthea Limited to reflect its new strategic direction.

Initial Public Offering

In 2016, Opthea Limited successfully completed its initial public offering (IPO) on the Australian Securities Exchange (ASX) under the ticker symbol OPT. The IPO raised AUD 20 million, which was allocated towards the development of its lead product candidate, OPT-302, for treating retinal diseases.

Product Development and Clinical Trials

Opthea's lead candidate, OPT-302, is an innovative treatment aimed at wet age-related macular degeneration (wet AMD) and diabetic macular edema (DME). By 2020, the company initiated Phase 2 clinical trials for OPT-302, reporting successful results. The primary endpoint was met, showing improved visual acuity in patients with wet AMD.

Financial Performance

In FY2021, Opthea reported a net loss of AUD 12.5 million, a decrease from AUD 20 million in FY2020, reflecting effective cost management as the company advanced its clinical trials. The total revenue for FY2021 amounted to AUD 0.5 million, primarily from research grants and collaborations.

Strategic Partnerships

In recent years, Opthea has formed strategic partnerships with various organizations to enhance its R&D capabilities. Notably, in 2021, Opthea entered into a collaboration with the University of Melbourne to further investigate the pharmacology of OPT-302.

Market Position

As of October 2023, Opthea Limited's market capitalization is approximately AUD 150 million, reflecting investor confidence in its development pipeline. The company continues to engage with the global market, with plans for further clinical trials and potential international collaborations.

Recent Developments

In September 2023, Opthea announced its plans to initiate Phase 3 clinical trials for OPT-302 in the United States, targeting the expanding market for wet AMD treatments, which is projected to reach USD 16 billion by 2027. The trial will further evaluate the efficacy and safety of OPT-302 in a larger patient demographic.

Future Outlook

Opthea Limited aims to strengthen its position in the ophthalmology market by advancing its lead product through regulatory approvals and potentially expanding its product portfolio to include additional indications within retinal diseases.

A Who Owns Opthea Limited (OPT)

Major Shareholders

As of the latest available data, the ownership structure of Opthea Limited involves a mix of institutional investors and individual shareholders. The following table illustrates the major shareholders along with their respective ownership percentages:

Recent Share Performance

Opthea Limited's stock performance has shown notable fluctuations over the past year. The following data indicates the stock price movement:

Institutional Ownership

A deeper dive into the institutional ownership reveals various funds and organizations that hold significant stakes in Opthea Limited:

Executive Team and Their Holdings

The executive team at Opthea Limited holds a combined total of shares which reflects their commitment to the company:

Conclusion of Ownership Structure

Opthea Limited's ownership is characterized by a diverse array of institutional and individual investors, reflecting a robust investment interest in the biotechnology sector. The engaged executive team demonstrates commitment through their equity stakes, fostering potential confidence in future performance and growth.

Opthea Limited (OPT) Mission Statement

Overview

Opthea Limited is a biotechnology company focused on developing innovative therapies for eye diseases. The company's mission is to improve the lives of patients suffering from serious and debilitating eye conditions by delivering effective treatments based on its proprietary drug delivery platform.

Core Values

• Innovation: Commitment to advancing science and technology to deliver next-generation therapies.
• Patient-Centricity: Prioritizing the needs and well-being of patients in every aspect of its operations.
• Integrity: Upholding high ethical standards in research and clinical practices.
• Collaboration: Partnering with health care providers, researchers, and organizations to enhance therapeutic outcomes.

Financial Performance

As of the close of the financial year 2023, Opthea reported the following financial highlights:

Product Pipeline

Opthea's lead product candidate, OPTH001, is a novel therapy aimed at treating wet age-related macular degeneration (AMD). The following summarizes the current status of the product pipeline:

Strategic Goals

Opthea aims to achieve the following strategic objectives by 2025:

• Advance OPTH001 through Phase 3 trials to secure regulatory approval.
• Expand research efforts to develop additional therapies for retinal diseases.
• Increase collaborations with pharmaceutical companies to enhance drug development capabilities.
• Enhance shareholder value through strategic financial management and operational efficiencies.

Research and Development Commitment

Opthea dedicates significant resources to R&D, as demonstrated by its financial allocation over the past three years:

Key Achievements

In recent years, Opthea has achieved significant milestones that underscore its commitment to innovation and patient care:

• Successful completion of Phase 2 trials for OPTH001, demonstrating promising efficacy and safety profiles.
• Collaboration agreements with leading research institutions to enhance drug development.
• Presentation of positive clinical trial results at major ophthalmology conferences.

How Opthea Limited (OPT) Works

Company Overview

Opthea Limited (ASX: OPT) is a biotechnology company focused on developing therapies for eye diseases. The company is primarily engaged in the development of its lead product candidate, OPT-302, aimed at treating wet age-related macular degeneration (AMD).

Product Pipeline

Opthea's product pipeline includes:

• OPT-302: A dual-action therapy for wet AMD.
• OPT-302 in combination with Lucentis.

Financial Performance

As of the latest financial report, Opthea Limited reported:

• Market Capitalization: AUD 204.6 million
• Revenue for FY 2022: AUD 2.5 million
• Net Loss for FY 2022: AUD 25.0 million
• Cash Reserves: AUD 38.6 million (as of June 30, 2022)

Investment and Funding

Opthea Limited has undertaken several funding rounds to support its clinical development:

• Q1 2022: Successfully raised AUD 40 million through an institutional placement.
• Q2 2022: Secured an AUD 15 million loan facility.

Clinical Trials

Opthea is conducting multiple clinical trials to evaluate the efficacy and safety of OPT-302. The trials are divided into various phases:

• Phase 1: Safety and dosage
• Phase 2: Efficacy and side effects
• Phase 3: Confirmation of effectiveness

Partnerships and Collaborations

Opthea Limited has engaged in strategic partnerships:

• Collaborated with several research institutions for advanced clinical research.
• Partnership with global pharmaceutical companies for distribution and commercialization.

Regulatory Approvals

Opthea is in the process of seeking regulatory approvals:

• FDA approval for OPT-302 is anticipated in 2024.
• EMA submission is also planned for the same timeframe.

Market Potential

The potential market for wet AMD therapies is substantial:

• Market Size: Estimated at USD 8.4 billion by 2026.
• Growth Rate: Expected CAGR of 8.2% from 2021 to 2026.

How Opthea Limited (OPT) Makes Money

Revenue Streams

Opthea Limited primarily generates revenue through the development and commercialization of its therapeutic products, particularly focused on ophthalmology. The company is engaged in the development of its lead product candidate, OPT-302, which targets various forms of wet age-related macular degeneration (wet AMD).

Product Development

Opthea's core product, OPT-302, is a novel protein therapy designed to inhibit specific pathways involved in retinal diseases. The company is in various stages of clinical trials.

• Phase 3 clinical trial for OPT-302 commenced in 2020.
• Estimated total cost for completion of Phase 3 trials is approximately AUD 50 million.

Partnerships and Collaborations

Opthea has entered into collaborative agreements which can potentially enhance its revenue model.

• Partnership with the National Health and Medical Research Council (NHMRC).
• Collaboration with various research institutions for clinical trials.

Market Potential

The global market for ophthalmic therapeutics was valued at approximately USD 22 billion in 2022, with expectations to reach USD 35 billion by 2030, growing at a CAGR of about 6.4%.

Financial Performance

As of the latest available financial data in FY 2022:

Grant Funding

Opthea Limited has received significant grant funding to support its research and clinical trials.

• In 2021, Opthea received AUD 4.2 million from the Australian government.
• In 2022, an additional AUD 5 million was granted for continued research.

Future Prospects

The anticipated approval of OPT-302 by health authorities is projected to open new market opportunities and revenue generation channels for Opthea. Potential licensing agreements could create further revenue streams following successful clinical trial outcomes.