Opthea terminates COAST trial, announces ShORe trial misses endpoint

Opthea's Clinical Trials Update: Opthea has terminated its COAST Phase 3 trial and accelerated the topline results from its ShORe trial for wet AMD, which did not meet its primary endpoint. The combination therapy of sozinibercept and ranibizumab showed limited improvement in visual acuity compared to ranibizumab monotherapy.

Financial Implications and Future Discussions: Following the negative trial results, Opthea will discontinue the development of sozinibercept in wet AMD but is in discussions with Development Funding Agreement investors to explore options that could benefit the company and its shareholders, while maintaining a cash reserve of $100M.