Biopharmaceutical company Opthea (ASX:OPT) said its cash balance fell to $167.5 million in the quarter ended Sept. 30 from $172.5 million in the quarter ended June 30, according to a Thursday filing with the Australian Securities Exchange.
The company said the decrease was mainly due to the receipt of the retail entitlement finalized in July, which offset the operational spend of $39.8 million for two clinical trials.
Cash receipts increased by 175% to $2.2 million, from $800,000 in the previous quarter, while net operating cash outflow increased to $41.2 million from the previous quarter's $38.6 million, the filing said.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.