Opthea will be reinstated to the ASX today after the spectacular failure of its Phase 3 trial for wet age related macular degeneration. 

Mercifully, this reinstatement has happened prior to the 30/6/26, so shareholders will be able to claim their monster tax losses this year as they watch the share price crashes 90% or so today.  

As at the end of March Opthea had $31m in the bank and intend to purse a rare lung disease called lymphangioleiomyomatosis. A condition so rare everyone is happy with the unpronounceable name lymphangioleiomyomatosis since no one ever needs to say it anyway. 

Opthea management intend pursing this line of research for 18months and budget to spend $13m. Hopefully the remaining $18m will be spent on trauma counselling for Opthea shareholders. 

Predictably the Opthea name will be put to the sword and subject to a shareholder vote, will be renamed Ceryvyn Therapeutics Ltd.    I can't wait to be a part of Ceryvyn Therapeutics Ltd as it: "....pursues meaningful long-term shareholder value creation".