Opthea reports FY24 adjusted EPS ($27.27) vs. ($30.61) last year

Reports FY24 revenue $124.6M vs. $108.4M last year. “During the 2024 fiscal year, we made outstanding progress in advancing sozinibercept’s Phase 3 wet AMD program,” said Frederic Guerard, PharmD, Chief Executive Officer of Opthea. “We completed enrollment in both COAST and ShORe pivotal trials evaluating the superiority of sozinibercept combination therapy.” We strengthened our balance sheet with nearly US$300 million in financing proceeds, and expect existing cash and cash equivalents to fund the Company through the anticipated topline data readouts of COAST in early Q2 calendar year 2025 and ShORe in mid calendar year 2025,” Dr. Guerard continued. “The funds will also be used to progress Chemistry, Manufacturing, and Controls activities, Biologics License Application preparations for FDA approval, and continue to ready our organization for a potential launch of sozinibercept in wet AMD.”