Australia's Opthea climbs as co gets $4.7 mln tax credit for research

Opthea

25/01/2022 03:58

** ASX-listed shares of the biotech firm  OPT.AX  climb as
much as 4.5% to A$1.280, post their biggest intraday pct jump
since Dec 17 
    ** Opthea says it has received a A$6.6 mln ($4.71 mln)
research and development (R&D) tax credit from the Australian
Taxation Office  urn:newsml:reuters.com:*:nASX3FrPHt
    ** Says R&D tax incentive credit relates to both Australian
and eligible overseas expenditure for the development of co's
lead candidate - OPT-302 drug - that helps to block vascular
growth factors, which cause blood vessels in the eyes to leak 
    ** More than 289,900 shares change hands, as compared with
the 30-day average volume of ~278,700 shares  
    ** As of last close, stock down 5.4% so far this year 

    ($1 = 1.4004 Australian dollars)

 (Reporting by Roushni Nair in Bengluru)
 ((Roushni.Nair@thomsonreuters.com;))