I waited for 6 months, and finally started buy up this week, I felt it is now a good timing for the following reasons:
1. appointed CEO in April, he appointed CFO in May, core assets OPT302 in manufacture in June
2. half year report stated it expects completion of non-core asset commitments by June 2014.
3. Opthea’s program is currently on-track to initiate a Phase 1/2 clinical trial in wet AMD patients early in 2015, I would think by Sep, they wouldnt still be under cash backing.
4. 10mil plus cash in the bank, 2.8mil saleable investments, tangible asset backing at 26c
5. quite a bit liquidity since CEO is appointed, clear sign market shows confidence.
CIR Price at posting:
20.0¢ Sentiment: Buy Disclosure: Held
