Alterity Therapeutics Limited (NASDAQ:ATHE), a pharmaceutical company specializing in the development of therapeutic drugs, has filed its annual report with the Securities and Exchange Commission (SEC) today. The report, submitted on a Form 6-K, provides a comprehensive overview of the company's financial and operational performance over the past year.
The Melbourne-based company, formerly known as Prana Biotechnology Ltd, operates within the pharmaceutical preparations industry under the organization name 03 Life Sciences. The filing indicates that the company's fiscal year ends on June 30.
As per the SEC filing, the annual report for 2024 is now accessible to the public. The document includes detailed financial statements and is incorporated by reference into Alterity's Registration Statements on Form S-8 and Form F-3, which are related to the company's stock offerings.
The chairman of Alterity Therapeutics, Geoffrey P. Kempler, signed the report on September 26, 2024, affirming the accuracy and completeness of the information provided. The company, which is in the development stage, has not disclosed specific financial details or operational achievements in the summary provided.
In other recent news, Opthea Limited has achieved significant milestones in its drug development and corporate endeavors. The biopharmaceutical company has successfully completed its drug substance Process Performance Qualification (PPQ) campaign for sozinibercept, a potential treatment for wet age-related macular degeneration. This accomplishment is a crucial step in validating Opthea's manufacturing process and de-risking the program.
Furthermore, Opthea announced a series of executive leadership changes, including the appointment of Daniel Geffken as the interim Chief Financial Officer and Mike Campbell as the new Chief Commercial Officer. These changes come as the company prepares for the anticipated launch of sozinibercept in 2025.
In the realm of financial analysis, H.C. Wainwright revised its price target for Opthea, lowering it to $12.00 while maintaining a Buy rating, focusing on sozinibercept, which is currently in Phase 3 trials. Meanwhile, Oppenheimer raised the company’s price target from $16 to $18, maintaining an Outperform rating.
Lastly, Opthea formed a global Medical Advisory Board (MAB) comprising 10 retina specialists to guide its clinical development programs. These developments highlight Opthea's ongoing efforts to address the unmet needs in treating retinal diseases.
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