The failure of Opthea’s much-heralded eye treatment has already caused considerable pain for investors. The ASX-listed biotech counted Phil King’s Regal Partners as its biggest shareholder, with a 30 per cent stake.
But there are plenty of others who are facing big losses. Opthea warned the failure of a late-stage trial of its OPT-302 treatment would trigger obligations to pay back development funding to the likes of The Carlyle Group, which would almost certainly render the company insolvent.
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