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