Opthea to present at upcoming healthcare conference

Opthea Limited (NASDAQ:OPT), a biotechnology company specializing in the development of novel therapeutics for eye diseases, announced today that it will participate in the Oppenheimer Healthcare Conference. The company’s CEO, Frederic Guerard, will represent Opthea at the event, which is scheduled for this month. The announcement comes as the company’s stock has shown remarkable momentum, with InvestingPro data showing a 174% surge over the past six months.

According to InvestingPro analysis, while the company maintains a strong liquidity position with a current ratio of 2.94, it faces challenges with cash burn, one of several key metrics available to Pro subscribers.

The healthcare conference is an opportunity for Opthea to discuss its strategic direction, research advancements, and potential partnerships or collaborations. These events are crucial for biotech companies as they provide a platform to attract investment and forge connections within the industry.

With analyst price targets ranging from $8 to $18 per share and the company’s next earnings report scheduled for February 26, 2025, investors seeking deeper insights can access comprehensive financial analysis through InvestingPro, which offers 15+ additional expert tips on OPT’s outlook.

The information for this article is based on a press release statement.

In other recent news, Opthea Limited presented new data regarding its Wet Age-Related Macular Degeneration (Wet AMD (NASDAQ:AMD)) treatment at the annual Macula Society Meeting. The data, which includes results from recent clinical trials, is expected to support the advancement of Opthea’s leading drug candidate. However, the details of the study have not been disclosed.

In another development, Opthea reported positive results from its Phase 1b trial of sozinibercept for diabetic macular edema (DME). The trial found the sozinibercept combination therapy to be well tolerated and showed no dose-limiting toxicities. A dose-response relationship was observed, with the highest dose of sozinibercept yielding the most significant gains in best-corrected visual acuity.

Additionally, Opthea announced the appointment of Kathy Connell, GAICD, as a Non-Executive Director to its Board. Connell’s appointment coincides with the company’s preparation for Phase 3 wet AMD topline data expected in 2025. Her commercial expertise is anticipated to be beneficial as Opthea advances its lead product candidate, sozinibercept, through late-stage clinical trials. These are some of the recent developments concerning Opthea Limited.

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