Ann: Opthea Half Year Report and Accounts, page-2

Unfortunately, a double setback to the timeline.

First, page 8 of the aforementioned half year report:
“We expect to complete patient recruitment in the Phase 3 clinical trials by mid-2023.“

Accordingly, all milestones get pushed out by nine months:
- Full enrollment: mid-2023 (vs Sep 2022)
- Topline data: 3Q2024 (vs YE 2023)
- Filing: 1Q2025 (vs 2Q2024)
- Launch: 2H2025 (vs YE2024)

Second, OPT plans to incur higher than expected expenses by reverting to a CRO „to accelerate clinical trial activations and engagements with trial sites and investigators“, as mentioned in the same section of the report.

IMO, even the recently announced CR of $75 MN via an ATM should prove insufficient to make it to topline data in 3Q2024.

All in, a sobering update.