OPT
$821MCF+
Opthea
Biotech · Ophthalmology
Sozinibercept for wet AMD, partnered with Carlyle
Cash data from Dec 2025 4CFigures from ASX filings · not financial advice
[ VITALS ]
Cash on Hand
$22.2M
Dec 2025 4C
Runway
CF+Cash Flow Positive
Based on Dec 2025 4C
Market Cap
$821M
Burn Rate
—
Dec 2025 4C
Shares Outstanding
1.4B
Pipeline Assets
2
Latest Insight(1)
1 Mar 2026Half YearAppendix 4D and Half Year Report for period 31 Dec 2025
Cash$33.2M·
3M Price
OPT.ASX$0.600+0.0% 3M
Low $0.600High $0.600
Pipeline Assets (2)
SoziniberceptDME
Phase 2SoziniberceptDiscontinued
Discovery
Preclinical
Ph 1
Ph 1/2
Ph 2
Ph 2/3
Ph 3
NDA
Approved
Sozinibercept
DME
Capital Raises & Buybacks
show_chart
No capital raise or buyback data
Director Transactions
4 transactionsLast 90dNo Activity
Buys0
Sells0
OPTIONS EXERCISEKatherine Connellopen_in_new
02025-12-19
110d before · Results posted — OPT-302 With Ranibizumab in Neovascular Age-related Macular Degeneration (nAMD)
OPTIONS EXERCISELawrence Gozlanopen_in_new
0
Director Options & Rights
82,000,000 outstanding
Director
Outstanding
Ex. Price
Expiry
Katherine ConnelloutstandingOptions
Exercise price equal to 20% premium to 10 day VWAP calculated from ASX reinstatement date
41,000,000
outstanding
nil cost
2035-11-11
Lawrence GozlanoutstandingOptions
Exercise price equal to 20% premium to 10 day VWAP calculated from ASX reinstatement date
41,000,000
outstanding
nil cost
2035-11-11
Short Interest
ASIC ↗as of 2026-03-27 · 4-day lag
Short position
1.93%
arrow_drop_down-0.97% over 30 reports
Shares short
26.4M
Aggregated short position data published by ASIC under the Corporations Act. T+4 reporting lag applies. Short interest ≥5% is noteworthy; ≥10% is elevated. Source: ASIC Short Selling Data
R&D Tax Incentive
$7.1M received43.5% ATO refund
FY2026received
Auto-extracted from 4C (2025-12-31)
$7.12M
How the R&D Tax Incentive works
Australian biotechs with < $20M aggregated turnover can claim a 43.5% refundable tax offseton eligible R&D expenditure each financial year (Jul–Jun). This is paid as a cash refund by the ATO — not a tax deduction — making it non-dilutive capital that directly extends cash runway.
Companies register eligible R&D activities with AusIndustry during the year, then lodge their tax return after 30 June. Refunds typically arrive October–Decemberof the same calendar year. For a company spending $5M/year on R&D, this is a ~$2.2M annual cash inflow.
Disclaimer: Amounts shown as estimated or registeredare forward-looking estimates based on disclosed R&D expenditure and the 43.5% offset rate. Actual refunds may differ due to ATO assessments, eligibility rulings, or changes in R&D spend. This is not financial advice. Manually curated from 4C filings and company disclosures — verify independently.
Competitive Landscape
8 approved drugs66 competitor trialsPhase 2+ · Non-ASX
Wet Amd36 active trials
2 Ph413 Ph34 Ph2/38 Ph29 Ph1/PHASE2
Competitor trials from ClinicalTrials.gov (Phase 2+ historical, Phase 3+ refreshed weekly, active/recruiting, non-ASX sponsors). Approved drugs from OpenFDA (NDA/BLA only). Updated weekly via fetch_competitors.py.
expand_moreClinical Publications
Peer-reviewed papers & conference abstracts via PubMed
3 papers
Clinical Publications
Peer-reviewed papers & conference abstracts via PubMed
Ophthalmol Sci· Sozinibercept
Eye (Lond)2025-12· Sozinibercept
Ophthalmic Surg Lasers Imaging Retina2025-05· Sozinibercept
Catalysts (8)· 1 upcoming · 7 past
Sozinibercept Phase 3 wet AMD topline
UpcomingExpectedarrow_upwardHigh30 June 2026
expand_more7 past catalysts
Confirmedarrow_upwardHigh8 Apr 2026
Results available at https://clinicaltrials.gov/study/NCT04757610
Delivery Consistency Index
Historical delivery and spending consistency — data is limited for recently added companies.
Delivery Consistency Index
Delivery
–Insufficient data
1/3 data points needed
Timeline adherence · phase-adjusted tolerance · recency-weighted · min 3 catalysts
Capital discipline
High94/100
Burn rate stability · stage-adjusted thresholds · runway trend · R&D focus
Hit 1 of 1 guided dates· rolling 2yr(limited sample)· of 8 tracked
Filed 1 of 1 4Cs on time· statutory deadline· 6 filings without matched announcement
What drove these scores · rolling 2yr
arrow_drop_down
Cash position declining — Cash balance dropped >30% over last 3 quarters
arrow_drop_up
Turning CF positive — Latest quarter operating cash flow positive — transition in progress
arrow_drop_up
Stable burn rate — 18% quarterly variation — consistent spend
arrow_drop_up
Burn reductions achieved — 1 quarter with >30% spend reduction
arrow_drop_up
R&D-focused spend — 89% of opex directed to R&D
·
Mixed cash flow — Burn volatility calculated from 6 burning quarters only
Completed catalysts
✓Capital raise required— Cash position improved from $28M to $86M in Q2 2025 (raise completed). Company CF positive by Q4 2025.
304d early
Outcome quality (positive/negative readouts) reflects the science, not execution — shown above but excluded from the score.
These metrics reflect historical operational data only. They are not predictive of future performance, do not constitute investment advice, and should not be used as the basis for any investment decision.
⚠ TIMELINE CHANGESCT.GOV · AUTO-DETECTED
These changes were automatically detected by comparing ClinicalTrials.gov records over time. A slipped date means the trial's expected completion moved later; pulled forward means it moved earlier.
★ RESULTS
Clinical Trials(2)
No active trials
Announcements(4)
description
Half YearPSauto_awesome
Appendix 4D and Half Year Report for period 31 Dec 20251 Mar 2026
expand_more498KB
payments
Quarterly 4CPSauto_awesome
Quarterly Activities/Appendix 4C Cash Flow Report29 Jan 2026
expand_more600KB
person
Insider Tradeauto_awesome
Change of Director's Interest Notice - KC & LG22 Dec 2025
expand_more232KB