04:21 AM EDT, 03/24/2025 (MT Newswires) -- Opthea ( OPT ) said Monday the phase 3 study of its experimental drug, sozinibercept in combination with aflibercept to treat patients with wet age-related macular degeneration, did not meet its primary endpoint.

Following the results, Opthea ( OPT ) said it is evaluating its obligations under its development funding agreement with investors, which could lead to significant financial penalties, potentially affecting its solvency.

The company said development funding agreement termination could result in repayments ranging from $0 to $680 million.

Opthea ( OPT ) said it is in talks with the development funding agreement investors to explore options, including whether to continue or discontinue its trials.

As of Feb. 28, the company has $113.8 million in cash.

Opthea ( OPT ) has requested that trading in its securities continue to be suspended on both ASX and Nasdaq until the company is in a position to make an announcement clarifying these issues or until the commencement of trading on March 31, whichever is earlier.