The Motley Fool

Here’s why the Opthea share price is up 130% today

The Opthea Ltd (ASX: OPT) share price has rocketed 130% to $2.02 this morning after it reported its OPT-302 combination therapy met the primary endpoint in a Phase 2b clinical trial. 

According to the announcement the: “OPT-302 + Lucentis (ranibizumab) combination therapy demonstrated statistically significant vision benefit compared to Lucentis in wet AMD patients at 24 weeks in a trial of 366 patients”. 

The treatment also apparently passed safety standards with secondary endpoint results also supportive of the primary outcome.

“OPT-302 has the potential to address the unmet medical need of wet AMD and DME patients, many of whom respond sub-optimally or become refractory to existing therapies for these debilitating diseases. We are advancing the clinical development of OPT-302 in Phase 2 wet AMD and DME clinical trial,” the biotech notes on its website. 

According to its latest regulatory 3B filing the company has 249.4 million shares on issue to give it a market value of $503.8 million today. 

The catch is that it posted a net loss of $18.9 million on revenue of just $480,000 for the six months to December 31,2019.

It had net cash on hand of $40.14 million as at December 31, 2019 which is reasonable for a local biotech, but it will face significant clinical trial expenses at the Phase III stage in the mission to try and get its OPT-302 + Lucentis (ranibizumab) combination therapy commercialised. 

As such it remains a highly speculative bet alongside the likes of osteoarthritis researcher Paradigm Limited (ASX: PAR).

One ASX Stock For An Estimated $US22 Billion Marijuana Market

A little-known ASX company just unlocked what some experts think could be the key to profiting off the coming marijuana boom.

And make no mistake – it is coming. To the tune of an estimated $US22 billion.

Cannabis legalisation is sweeping over North America, and full legalisation arrived in Canada in October 2018.

Here's the best part: we think there's one ASX stock that's uniquely positioned to profit immensely from this explosive new industry... taking savvy investors along for what could be one heck of a ride.

AND, this is the first time The Motley Fool Australia has EVER put a BUY recommendation on a marijuana stock.

Simply click below to learn more on how you can profit from the coming cannabis boom.

Click here to find out more

 

Motley Fool contributor Tom Richardson has no position in any of the stocks mentioned.

You can find Tom on Twitter @tommyr345

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

NEW. Five Cheap and Good Stocks to Buy in 2019…

Our Motley Fool experts have just released a brand new FREE report, detailing 5 dirt cheap shares that you can buy today.

One stock is an Australian internet darling with a rock solid reputation and an exciting new business line that promises years (or even decades) of growth… while trading at an ultra-low price…

Another is a diversified conglomerate trading near a 52-week low all while offering a 2.8% fully franked yield…

Plus 3 more cheap bets that could position you to profit over the next 12 months!

See for yourself now. Simply click the link below to scoop up your FREE copy and discover all 5 shares. But you will want to hurry – this free report is available for a brief time only.

CLICK HERE FOR YOUR FREE REPORT!