Opthea Stock Price (OPT): Live Chart & 2026 Forecast

Tracking the Opthea stock price requires navigating one of the most dramatic corporate transformations in the recent biotechnology sector. Following a devastating late-stage clinical failure, the company has entirely rebranded as Ceryvyn Therapeutics, shedding its historical ophthalmology pipeline to pursue rare lung disease treatments. For investors, understanding this asset now means evaluating the residual value of a distressed micro-cap entity rather than a near-commercial powerhouse. This article examines the catalysts behind the stock's historic collapse, current live valuations under the new CYV ticker, and the financial runway dictating its highly speculative 2026 forecast.

What Is Ceryvyn's Stock Price Right Now?

Ceryvyn Therapeutics (ASX: CYV)—the entity formerly known as Opthea Limited—is trading at absolute lows of $0.012 AUD per share as of late July 2026. This prices the company at a micro-cap valuation of roughly $16.4 million AUD. Investors searching for the live Opthea stock price must now track the CYV ticker, as the corporate rebranding and ASX ticker change took effect in July 2026 following a 98% drawdown in equity value.

Where CYV Is Trading Today Versus Recent Highs and Lows

Ceryvyn is currently pinned to its 52-week low, trading fractionally above zero after the market entirely repriced the company's clinical pipeline. The historical Opthea stock price commanded a premium valuation prior to early 2025, driven by anticipation surrounding its late-stage eye disease treatments. Today, the asset trades as a distressed turnaround play.

The collapse in the Opthea stock price wiped out hundreds of millions in market capitalization. The current floor of $0.012 AUD represents the residual value of the company's remaining cash, its underlying intellectual property, and the speculative potential of its new clinical focus. Buying at these lows offers asymmetric upside to any positive clinical developments, but carries the near-certainty of future equity dilution as the company raises capital to fund new trials.

Why Has CYV Been So Volatile in 2025–2026?

The violent repricing of Ceryvyn's equity stems directly from the March 2025 clinical failure of its flagship wet AMD treatment, sozinibercept, and the resulting 15-month trading suspension. The timeline of the company's collapse and subsequent restructuring reveals exactly why the stock charts look like a falling knife.

• The Sozinibercept Failure (March 2025): The primary catalyst for the 98% stock plunge was the Phase 3 trial failure of OPT-302 (sozinibercept). The VEGF-C/D trap inhibitor failed to demonstrate a statistically significant improvement over a placebo for patients with wet age-related macular degeneration (Wet AMD). The market instantly erased the premium associated with a late-stage, commercial-ready asset.
• Trading Suspension and Cash Preservation (2025–2026): Following the trial results, the stock was suspended from trading on the ASX from March 19, 2025, until June 2026. During this dark period, management executed a drastic restructuring, terminating 80% of the workforce and half the board of directors to preserve remaining capital.
• The Rebrand and Therapeutic Pivot (July 2026): Recent Opthea stock news has been dominated by the July 3, 2026, shareholder vote to rebrand as Ceryvyn Therapeutics. The company is pivoting away from ophthalmology to focus on lymphangioleiomyomatosis (LAM)—a rare, progressive lung disease. They are repurposing the OPT-302 molecule as a new development program designated CYV-101.

This pivot salvages the company's existing intellectual property and non-clinical data package, but forces investors to underwrite a completely new, capital-intensive clinical pathway. The volatility will likely persist as the market weighs the long odds of CYV-101's success against the immediate realities of a depleted balance sheet.

What Drove Ceryvyn's Price to Where It Is Today?

Beyond the headline clinical miss, a sequence of catastrophic trial failures, late-stage shareholder dilution, and a subsequent retreat from the US stock market forced this dramatic corporate restructuring. The combined impact of these events decimated the company's valuation and triggered a 97% share price collapse when the stock resumed trading in mid-2026.

How the Sozinibercept Clinical Trial Results Moved the Stock

The complete failure of sozinibercept (OPT-302) to meet primary endpoints in two pivotal Phase 3 trials wiped out nearly the entirety of the company’s market capitalization in early 2025. Sozinibercept was engineered to inhibit VEGF-C and VEGF-D, and was intended to be administered alongside standard anti-VEGF-A therapies (like aflibercept or ranibizumab) to treat wet age-related macular degeneration (wet AMD).

Because the core investment thesis rested on capturing a fraction of the multi-billion-dollar wet AMD market, the clinical miss in the COAST and ShORe trials proved fatal to the Opthea stock price. Wet-AMD development was abruptly discontinued, prompting a lengthy trading suspension. When shares finally resumed trading on the ASX on June 3, 2026, the stock plunged 97.17% in a single session to A$0.017. The company has since redirected the underlying VEGF-C/D biology toward lymphangioleiomyomatosis (LAM)—a rare, chronic lung disease—under the new asset name CYV-101.

What Happened After Ceryvyn's Nasdaq Listing and Capital Raises

An aggressive capital strategy resulted in extreme shareholder dilution right before the clinical trials failed, ultimately making the company's dual-listing financially unsustainable. Following its initial $128 million Nasdaq debut in 2020, Opthea executed a massive A$227 million (US$150 million) capital raise in mid-2024 via institutional placements and accelerated non-renounceable entitlement offers. This heavily diluted the existing share pool to fund the final stages of the clinical trials.

When the trials subsequently failed, the expanded share count compounded the downward pressure on the Opthea stock. Facing a decimated market cap and the high administrative costs of remaining on a major US exchange, the company voluntarily delisted its American Depositary Shares (ADSs) from the Nasdaq Global Select Market in November 2025. The equity was relegated to the US over-the-counter (OTC) market, where it now trades under the ticker CYVNY.

How Analyst Downgrades or Upgrades Have Shifted CYV's Valuation

Following the trial failures, analyst consensus abruptly shifted from projecting a commercial biotech breakout to valuing the company as a distressed, early-stage restructuring play. Prior to 2025, analysts modeled the Opthea stock price on the probability of FDA approval for sozinibercept, issuing optimistic price targets based on future ophthalmology revenues.

The clinical failure triggered a wave of brutal downgrades and a complete repricing of the asset. Analysts now assign zero value to the ophthalmology pipeline, shifting their Opthea stock price prediction to reflect the high-risk, early-stage development of CYV-101.

Current Opthea stock news reflects this harsh reality. Major institutions like Bell Potter issued consecutive "Sell" ratings throughout late 2025 and 2026, driven by the company's reduced cash runway and the 18-month stage-gated preclinical and clinical timeline required for the new LAM indication.

Is Ceryvyn Stock Expected to Go Up or Down in 2026?

Looking ahead, CYV stock volatility will remain extreme throughout 2026 as the market digests this transition to a repurposed micro-cap targeting rare lung diseases. The former Opthea stock price collapsed to roughly A$0.013 following the 2025 Phase III clinical failures, turning CYV into a highly speculative binary play dependent entirely on its new clinical direction.

What Analyst Price Targets Say About CYV's Upside

Institutional analyst coverage fundamentally broke down when sozinibercept failed its pivotal wet AMD trials, rendering previous Opthea stock price prediction models obsolete. Major funds, including Regal, slashed the biotechnology firm's valuation by two-thirds or more, driving the market capitalization down to approximately A$16.4 million by mid-July 2026. Current price targets are no longer based on discounted cash flows of a near-commercial blockbuster; they reflect the liquidation value of its remaining A$31.2 million cash balance against ongoing liabilities and the unproven probability of success for its repurposed pipeline. Upside targets are mathematically high in percentage terms due to the sub-two-cent share price, but traditional institutional price targets will likely remain absent until new clinical data validates the company's pivot.

Which Upcoming Catalysts Could Push the Stock Higher or Lower

The stock's trajectory in late 2026 depends on executing its strategic restart rather than late-stage clinical readouts. Specific catalysts include:

• Scientific Advisory Board (SAB) Directives: Updates from the newly formed SAB, co-chaired by pulmonary specialists Prof. Deborah Yates and Prof. Frank McCormack, will dictate the exact clinical pathway and trial design for targeting pathological lymphangiogenesis.
• CYV-101 Preclinical and Dosing Milestones: Any data demonstrating that the legacy VEGF-C/D inhibitor successfully translates to in vivo efficacy for Lymphangioleiomyomatosis (LAM) will trigger sharp upward volatility.
• Cash Burn Rate Announcements: The company reported an estimated 18-month cash runway in mid-2026. Quarterly filings showing higher-than-expected burn rates to fund third-party clinical providers will heavily pressure the stock lower.
• Opthea Stock News Residue: Retail investors unaware of the July 9, 2026 ticker change (from OPT to CYV) periodically create low-volume trading spikes as they react to outdated Opthea stock price feeds.

What the Pipeline Timeline Means for CYV's Price in the Second Half of 2026

The timeline reset means investors holding out for a rapid return to historical valuation levels will be disappointed. The company has shifted from expecting imminent commercialization to essentially starting over in a completely different therapeutic area.

Because the H2 2026 timeline is dedicated strictly to early-stage trial design, outsourced manufacturing setup, and preclinical bridging studies for CYV-101, there are no immediate Phase III readouts to force a major re-rating. The asset relies on the exact same biological mechanism—blocking VEGF-C and VEGF-D—but applying it to LAM fundamentally alters the risk profile. Investors buying at current levels are trading on cash runway survival and the long-term novelty of treating a rare, progressive lung disease in women, rather than expecting a near-term revenue breakthrough.

Should You Buy, Hold, or Avoid CYV Right Now?

The decision to buy, hold, or avoid the stock hinges entirely on whether you view Ceryvyn as a deeply discounted biological asset or broken equity. With the historical Opthea stock price wiped out and the company no longer pursuing ophthalmology, investors must weigh the merits of its new rare disease focus against severe financial constraints.

• Buy if: You believe the repurposed biology of CYV-101 (a fusion protein targeting VEGF-C and VEGF-D) is fundamentally sound for treating LAM, and you are willing to hold through the extreme volatility typical of penny-status biotech turnarounds.
• Hold if: You are a trapped shareholder holding legacy Opthea stock hoping the current micro-valuation (roughly A$13.36 million market cap as of mid-2026) offers asymmetric upside as the newly branded company stabilizes and initiates LAM trials.
• Avoid if: You require near-term commercial revenue, insist on a clean capitalization table, or are unwilling to accept the near-certainty of future equity dilution to fund upcoming clinical phases.

What the Financials Tell You About Ceryvyn's Burn Rate and Runway

Ceryvyn’s current financial structure reflects a drastic post-failure restructuring, shifting from a cash-incinerating late-stage developer to a tightly budgeted pipeline reset. Prior to the failure of sozinibercept, the company burned roughly US$40–45 million per quarter running massive global trials. Today, the fiscal reality is entirely different:

• Headcount Reduction: A 65% staff reduction executed in April 2025 immediately compressed administrative and clinical overhead.
• Operating Budget: The company is currently operating on an approximate A$13.1 million budget, strictly allocated to advancing CYV-101 in LAM rather than broad platform development.
• Capital Runway: As of mid-2026, Ceryvyn projects roughly an 18-month cash runway, theoretically funding operations into late 2027 before a mandatory capital raise.
• Legacy Obligations: Active negotiations regarding the legacy Development Funding Agreement (DFA) investors remain a structural overhang that complicates the company's enterprise value.

Investors checking the latest Opthea stock news expecting a return to massive institutional funding rounds will instead find a distressed biotech strictly rationing capital to reach early, cost-effective LAM data milestones.

How Much Risk Does CYV Carry Compared to Other Biotech Stocks

CYV carries severe, specialized risk even relative to the inherently volatile biotechnology sector, acting more like a distressed turnaround than a traditional clinical-stage asset. While a standard early-stage biotech builds valuation on unproven science, Ceryvyn is actively shedding the market penalty of a high-profile, late-stage failure using the exact same underlying mechanism of action.

Anyone making an Opthea stock price prediction for the remainder of 2026 must factor in that Ceryvyn is effectively a brand-new, early-stage enterprise trading inside the battered shell of a former late-stage developer. The investment thesis rests entirely on binary execution: proving that neutralizing VEGF-C and VEGF-D is the definitive key to arresting LAM disease progression, and surviving long enough financially to prove it.

FAQs about opthea stock price

What is happening with Opthea?

In July 2026, Opthea shareholders approved a company name change to Ceryvyn Therapeutics Limited, trading under the new ASX code CYV. This followed a major corporate restructuring in 2025, during which the company discontinued its lead treatment for wet AMD after failed clinical trials and significantly reduced its workforce. The company is now focusing its resources on developing CYV 101, a therapeutic candidate targeting lymphangioleiomyomatosis (LAM), a rare progressive lung disease.

Is Opthea stock a buy?

Analyst ratings for Opthea—now operating as Ceryvyn Therapeutics—are mixed, with very limited active coverage following its recent restructuring. Some automated consensus models indicate a speculative "Strong Buy" based on remaining analyst projections, while other historical analyses lean toward "Hold" or "Sell" ratings. Analysts note that the stock remains highly volatile due to its lack of commercial revenue, significant financial losses, and pre-commercial biopharmaceutical status.

Who are Opthea's main competitors?

Before discontinuing its wet age-related macular degeneration (AMD) program in 2025, Opthea competed with large pharmaceutical companies like Regeneron, Novartis, Roche, and Bayer. It also faced competition from emerging biotech firms developing novel ophthalmic therapies, such as Kodiak Sciences, REGENXBIO, and Outlook Therapeutics. Following its strategic pivot to treating the rare lung disease LAM, its competitive landscape is now shifting toward other biopharmaceutical companies operating in that specialized therapeutic space.

What is the share price of Opthea Limited?

As of late July 2026, shares of the company (now trading as Ceryvyn Therapeutics under the ticker CYV) were priced at approximately A$0.012 on the Australian Securities Exchange (ASX). The stock experienced a decline of roughly 98% over the preceding year following the failure of its legacy clinical trials. Its U.S. listings have similarly plummeted, with its American Depositary Receipts trading at just a few cents per share.

Conclusion

The complete repricing of the Opthea stock price into the Ceryvyn Therapeutics micro-cap serves as a stark reminder of the binary risks inherent to late-stage biotechnology development. For prospective investors, the newly minted CYV ticker represents an entirely reset investment thesis centered on the speculative repurposing of VEGF-C/D biology for rare lung diseases. Navigating this asset requires carefully monitoring the company's cash burn rate, upcoming preclinical milestones for CYV-101, and its ability to secure vital clinical funding before its current operating runway expires.