Opthea Limited announces a placement and partially underwritten entitlement offer

Opthea Limited (ASX: OPT) announced its plans to raise approximately AU$227.3 million through an approximately AU$10.0 million placement and an approximately AU$217.3 million Accelerated Non-Renounceable Entitlement Offer.

The Company intends to use the net proceeds from the Placement and Entitlement Offer and its existing cash reserves to fund its operations through the anticipated Phase 3 topline data readouts for COAST and ShORe. The funds will also be used to advance chemistry, manufacturing, and controls (CMC) activities, Biologics License Application (BLA) preparations for FDA approval, and general corporate purposes.

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