Opthea Resolves DFA Dispute, Reaches Agreement with Investors

Opthea has reached a settlement with investors under its Development Funding Agreement, terminating the development of sozinibercept in wet AMD. The company will issue 136.7 million shares to investors, equivalent to 9.99% of its total issued share capital. Opthea will have cash and cash equivalents of approximately USD20 million following the settlement. Dr. Fred Guerard, Tom Reilly, and Sujal Shah will step down, while Dr. Jeremy Levin will continue as Chairman and assume additional responsibilities.