In today’s briefing:
- ResApp’s Revised Offer from Pfizer Still Faces Headcount Test Risk
- Opthea Ltd (OPT AU): Lead Asset for Highly Prevalent Retinal Disease Moving Toward Commercialization
ResApp’s Revised Offer from Pfizer Still Faces Headcount Test Risk
- Pfizer Inc (PFE US) upped its Resapp Health (RAP AU) offer from A$0.146 per share to A$0.208 per share, in line with the independent expert’s preferred value of A$0.208 per share.
- The NO vote camp from defiant retail shareholders forced Pfizer to up its offer. Unfortunately, a vocal NO camp is still present despite Pfizer’s revised higher offer.
- At the last close, the gross spread is 9.5%. The risk/reward profile is unfavourable as ResApp is a highly-held retail stock, posing a headcount test risk to the scheme.
Opthea Ltd (OPT AU): Lead Asset for Highly Prevalent Retinal Disease Moving Toward Commercialization
- Opthea Ltd (OPT AU) is developing OPT-302, a first-in-class investigational drug. With improved efficacy, OPT-302 has the potential to be the next transformative step in the treatment of wet AMD.
- Pivotal phase 3 trials are ongoing for OPT-302, with topline data expected in mid-2024. OTP-302 is expected to be launched in 2025. OPT-302 represents a multi-billion-dollar peak sales opportunity.
- As of December 2021, Opthea had cash balance of A$88 million and no debt. Over the trailing 12 months, the company had cash burn of A$56 million.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
