OPT - Opthea receives $6.3M in R&D Tax Incentive

2023-03-07 06:48:14 ET

• Opthea ( NASDAQ: OPT ) received an A$8.7M ($6.3M) R&D tax credit from the Australian Taxation Office; cash incentive is for costs incurred in the 2021/2022 financial year.
• The R&D tax incentive credit relates to both Australian and eligible overseas expenditure for the development of Opthea’s lead candidate OPT-302.
• This will strengthen the company's cash position as it continues to advance its Phase 3 registrational trials, ShORe and COAST, investigating OPT-302 to address the unmet medical need in wet AMD.

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