New GS report up on CommSec.
In our view, the new funding de-risks the next 12-18 months of operations andstrengthens OPT’s negotiating position in any discussions with potential partnercandidates. However, the proceeds are likely not sufficient to complete the Ph3 trial,and we continue to forecast a further A$50mn of new issuance for now. In our view,the Ph2b data reported in October suggests the patient population should naturallymigrate towards the sub-category in which OPT-302 has demonstrated the strongestresponse. We believe the market has not yet adequately reflected the improvedprobability of clinical success that these new data would suggest and, as such, wewould expect strong demand for any future round of financing, which appears tohave been the case with this one.
News: OPT Opthea Ltd Receives Commitments From Investors In Australia And United Kingdom To Raise..., page-9
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