Opthea (OPT: $0.85) is currently conducting two Phase III studies with its ophthalmic drug candidate, OPT-302, for the treatment of wet AMD. Those trials are seeking to recruit just under 2,000 people. With completion of recruitment approaching, that major milestone will trigger a countdown to the pending results a little over 12 months later, which should see considerable interest build in the stock.

Opthea (OPT: $1.25) has gained access of up to US$260 million ($371 million) to reach top-line results of two Phase III trials with its drug candidate OPT-302. The top-line results are now due in mid 2024. The funds will also be used for pre-commercialisation activities.

It's the largest capital raise for the sector (excluding raises conducted by CSL, Cochlear and ResMed), for non-asset purchases.