How Opthea became a $1 billion stock in a month, and analysts reckon there’s still more to come
It’s not every day that a former doctoral student takes their thesis and turns it into a $1 billion venture, but that is just what Megan Baldwin has done at biotech outfit Opthea.
Biotechnology is a crowded corner of the ASX which is filled to the rafters with female CEOs, and Opthea‘s Baldwin has emerged as a star.
Advancing her doctoral thesis closer to commercial reality has pushed the worth of her shares and options – once they are converted – in Opthea to more than $20m.
And thanks to her recent strong research results with the OPT-302 drug, analysts are now valuing Opthea through the prism of partnering deals with pharmaceutical giants.
Stockbroker Bell Potter’s Tanushree Jain reckons $4.44 is a fair estimate of the value of Opthea shares, taking into account what industry majo ...