Very few ADRs being traded in US prior to recent announcements...

Very few ADRs being traded in US prior to recent announcements so a pretty big uptick in volume in US overnight to 15726 which was to expected although if you go through the actual listed trades it totals only a bit over 3000 so no idea what gives here.

Anyway I don’t think it matters a lot. While the recent deal is probably unlikely to impact too much on the share price in the short term I think it will do so eventually. The funding arrangement is an extremely smart play by Opthea because if a big pharma wants to be part of action going forward in terms of a partnership it will force them to come to table rather than the reverse.
Australia biotech companies are often very good on the science front but fall down on maximising value for shareholders when it comes to commercialisation. Over the years I have seen several Australian biotech companies develop great science only to see an overseas entity come into the mix late in the piece when the company needed funding to progress commercialisation. They were then ones who got the bulk of the financial benefit out of the Australian biotech company’s science. I think Opthea is on track with this deal to maximise the value of OPT-302. I am confident retail shareholders will be very well rewarded for their patience if they continue to hold their shares for the next 18-24 months. It may take that long for further corporate action to occur.