Opthea Limited (AU:OPT) has released an update.
Opthea Limited has successfully completed a significant capital raise of A$171.5 million through an institutional placement and entitlement offer, with plans to extend an additional Retail Entitlement Offer expected to raise A$55.9 million. The funds are earmarked for pivotal Phase 3 clinical trials of their wet AMD treatment, sozinibercept, as well as for FDA approval preparations and general corporate purposes. Shares from this raise will be issued at A$0.40 each and will commence trading soon after issuance.
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