Hearts and Minds Investments (ASX:HM1) said its revaluation of the holding value of Opthea (ASX: OPT) in its portfolio to AU$0.20 per share, will negatively impact its net asset value by about 1.6% or AU$0.056 per share, according to a Wednesday filing with the Australian bourse.
The revaluation takes into account the study results, as well as the potential for a "positive outcome" from the upcoming trial readout.
The company confirmed that it held a 2.4% stake in Opthea prior to the biopharmaceutical company's results of its study, the filing said.
Opthea said Monday that its Combination OPT-302 with Aflibercept (COAST) study in patients with age-related Macular Degeneration, failed to meet its primary endpoint and added there is significant doubt about its ability to continue as a going concern.
Shares of the company rose 1% in recent Wednesday trade.
Price (AUD): $3.05, Change: $+0.040, Percent Change: +1.33%
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