10 Best Australian Stocks to Buy Now

7. Opthea Limited (NASDAQ:OPT)

Number of Hedge Fund Holdings: 3

Opthea Limited (NASDAQ:OPT) is a biotechnology company specializing in ophthalmology, developing treatments for eye diseases such as wet age-related macular degeneration (AMD) and diabetic macular edema. The company works with ophthalmologists and healthcare organizations.

Opthea Limited’s (NASDAQ:OPT) lead candidate, sozinibercept, is a biologic designed to inhibit VEGF-C and VEGF-D, complementing the action of VEGF-A inhibitors. The company is conducting two pivotal Phase 3 studies, COAST and ShORe, which aim to evaluate the efficacy and safety of sozinibercept in combination with existing VEGF-A inhibitors, Eylea and Lucentis, respectively. These studies have enrolled nearly 2,000 treatment-naïve wet AMD patients across over 300 global sites. Topline results from the COAST and ShORe study are expected in mid-2025.

While the wet AMD market is highly competitive, with established therapies such as Eylea, Vabysmo, and Lucentis dominating, Opthea Limited (NASDAQ:OPT) is positioning sozinibercept as a complementary therapy that can enhance the efficacy of current treatments. The company’s strategy hinges on demonstrating that the additional benefit of targeting VEGF-C and VEGF-D can lead to better visual outcomes and improved patient quality of life.