Opthea shares are trading higher after the company announced that it expects to receive the remaining $35 million committed funds under the Development Funding Agreement with Carlyle and Abingworth. Also, the company entered into binding documentation with a new co-investor to secure an additional $50 million in funding.
Portfolio Pulse from Benzinga Newsdesk
Opthea shares are trading higher following the announcement that the company will receive the remaining $35 million from Carlyle and Abingworth, and has secured an additional $50 million from a new co-investor.
December 27, 2023 | 1:53 pm
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POSITIVE IMPACT
Opthea's stock is experiencing an uptick due to the positive funding news, with $35 million from existing partners and an additional $50 million from a new investor.
The news of receiving the remaining committed funds and securing additional capital is a strong positive signal for investors, indicating financial stability and potential for growth. This typically leads to increased investor confidence and can drive the stock price up in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100