From MST Today:Opthea (OPT): Buy this Biotech - Enrolled, Now...

From MST Today:

Opthea (OPT): Buy this Biotech - Enrolled, Now Funded, Fast approaching Phase 3 Readout OPT is a ~$540m mkt cap biotech in the late stage of developing their OPT-302 asset (~9 mths from first phase 3 readout). Given that OPT-302 has the potential to be the first drug for wAMD in more than 15 years to deliver superior vision gains, the phase 3 results (early Q225 and mid-year ‘25 respectively) will be some of the most significant events in biotech globally. With the funding overhang now cleared, we see OPT as being one of the best opportunities on the ASX. Clearly there has been some historic disappointment, but the existing data and proximity to such a major catalyst make this very compelling.Phase 2b data was excellent, especially in minimally classic and occult lesions. The Phase 3 trials have cost more and taken longer than anyone anticipated, but success in these trials would likely make OPT a multi billion dollar mkt cap... its not often that you find this level of optionality. Its not the first time you have heard us bang the table that Phase 3 readouts are historically the point where these rerate.Its not the first time you have heard us bang the table that providing funding capacity takes the handbrake off these stocks. We have added even more evidence to this in the charts below… (see figures below)The stock has been weak due to the perceived funding overhang which is now cleared. So despite the weakness, operationally, management added significant capabilities, rapidly executed finalisation of enrolment & got significant backing from serious biotech investors. These investors understand the leverage that this drug brings to the market & understand the next 12-18mths is the time they realise value. The dominos have lined up for OPT here and now. Legacy issues have been resolved and the value inflection point is clear/rapidly approaching. With the weight of the people backing this company, we see probability of success as high vs a valuation which is low… don’t let it rerate before you buy…