Amended Statement of Ownership (sc 13g/a)
February 14 2023 - 3:02PM
Edgar (US Regulatory)
SCHEDULE 13G
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
Under the Securities Exchange Act of 1934
(Amendment No. 2)*
Opthea
Limited
(Name of Issuer)
Ordinary Shares, no par value |
(Title of Class of Securities)
68386J208** |
|
(CUSIP Number)
December 31, 2022 |
|
|
(Date of Event
which Requires Filing of this Statement)
|
|
Check the appropriate
box to designate the rule pursuant to which this Schedule is filed:
*The remainder of
this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of Securities,
and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.
The information
required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities
Exchange Act of 1934 (the “Act”) or otherwise subject to the liabilities of that Section of the Act, but shall be subject
to all other provisions of the Act (however, see the Notes).
**This CUSIP applies to the American Depositary Shares, each representing
eight Ordinary Shares
CUSIP No. 68386J208
1
|
NAMES OF REPORTING PERSONS
Baker Bros. Advisors LP
|
2
|
CHECK THE APPROPRIATE BOX IF
A MEMBER OF A GROUP (See Instructions)
|
(a)
¨
(b) ¨
|
3
|
SEC USE ONLY
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
31,627,844 (1)
|
6
|
SHARED VOTING POWER
-0-
|
7
|
SOLE DISPOSITIVE POWER
31,627,844 (1)
|
8
|
SHARED DISPOSITIVE POWER
-0-
|
9
|
AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON
31,627,844 (1)
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions)
|
¨ |
11
|
PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW 9
6.8% (1)(2)
|
12
|
TYPE OF REPORTING PERSON (See
Instructions)
IA, PN
|
| (1) | Includes 21,531,128 Ordinary Shares (“Ordinary Shares”) of Opthea Limited (the “Issuer”) that are
represented by 2,691,391 American Depositary Shares (“ADS”) directly held by Baker Brothers Life Sciences, L.P.
(“Life Sciences”) and 667, L.P. (“667”, and together with Life Sciences, the “Funds”). Each ADS
represents 8 Ordinary Shares of the Issuer. |
| (2) | Based on 466,918,460 Ordinary Shares of the Issuer outstanding as of November 30, 2022, as reported in the Issuer’s Appendix
2A filed with the Australian Stock Exchange (the “ASX”) on November 29, 2022. |
CUSIP No. 68386J208
1
|
NAMES OF REPORTING PERSONS
Baker Bros. Advisors (GP) LLC
|
2
|
CHECK THE APPROPRIATE BOX IF
A MEMBER OF A GROUP (See Instructions)
|
(a)
¨
(b) ¨
|
3
|
SEC USE ONLY
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
31,627,844 (1)
|
6
|
SHARED VOTING POWER
-0-
|
7
|
SOLE DISPOSITIVE POWER
31,627,844 (1)
|
8
|
SHARED DISPOSITIVE POWER
-0-
|
9
|
AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON
31,627,844 (1)
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions)
|
¨ |
11
|
PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW 9
6.8% (1)(2)
|
12
|
TYPE
OF REPORTING PERSON (See Instructions)
HC, OO
|
| (1) | Includes 21,531,128 Ordinary Shares of the Issuer that are represented by 2,691,391 ADS directly held by the Funds. Each ADS represents
8 Ordinary Shares of the Issuer. |
| (2) | Based on 466,918,460 Ordinary Shares of the Issuer outstanding as of November 30, 2022, as reported in the Issuer’s Appendix
2A filed with the ASX on November 29, 2022. |
CUSIP No. 68386J208
1
|
NAMES OF REPORTING PERSONS
Felix J. Baker
|
2
|
CHECK THE APPROPRIATE BOX IF
A MEMBER OF A GROUP (See Instructions)
|
(a)
¨
(b) ¨
|
3
|
SEC USE ONLY
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
31,627,844 (1)
|
6
|
SHARED VOTING POWER
-0-
|
7
|
SOLE DISPOSITIVE POWER
31,627,844 (1)
|
8
|
SHARED DISPOSITIVE POWER
-0-
|
9
|
AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON
31,627,844 (1)
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions)
|
¨ |
11
|
PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW 9
6.8% (1)(2)
|
12
|
TYPE
OF REPORTING PERSON (See Instructions)
IN, HC
|
| (1) | Includes 21,531,128 Ordinary Shares of the Issuer that are represented by 2,691,391 ADS directly held by the Funds. Each ADS represents
8 Ordinary Shares of the Issuer. |
| (2) | Based on 466,918,460 Ordinary Shares of the Issuer outstanding as of November 30, 2022, as reported in the Issuer’s Appendix
2A filed with the ASX on November 29, 2022. |
CUSIP No. 68386J208
1
|
NAMES OF REPORTING PERSONS
Julian C. Baker
|
2
|
CHECK THE APPROPRIATE BOX IF
A MEMBER OF A GROUP (See Instructions)
|
(a)
¨
(b) ¨
|
3
|
SEC USE ONLY
|
4
|
CITIZENSHIP OR PLACE OF ORGANIZATION
United States
|
NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON
WITH
|
5
|
SOLE VOTING POWER
31,627,844 (1)
|
6
|
SHARED VOTING POWER
-0-
|
7
|
SOLE DISPOSITIVE POWER
31,627,844 (1)
|
8
|
SHARED DISPOSITIVE POWER
-0-
|
9
|
AGGREGATE AMOUNT BENEFICIALLY
OWNED BY EACH REPORTING PERSON
31,627,844 (1)
|
10
|
CHECK BOX IF THE AGGREGATE AMOUNT
IN ROW (9) EXCLUDES CERTAIN SHARES
(See Instructions)
|
¨ |
11
|
PERCENT OF CLASS REPRESENTED
BY AMOUNT IN ROW 9
6.8% (1)(2)
|
12
|
TYPE
OF REPORTING PERSON (See Instructions)
IN, HC
|
| (1) | Includes 21,531,128 Ordinary Shares of the Issuer that are represented by 2,691,391 ADS directly held by the Funds. Each ADS represents
8 Ordinary Shares of the Issuer. |
| (2) | Based on 466,918,460 Ordinary Shares of the Issuer outstanding as of
November 30, 2022, as reported in the Issuer’s Appendix 2A filed with the ASX on November 29, 2022. |
Amendment No. 2 to Schedule 13G
This Amendment No. 2 to Schedule 13G amends and restates the previously
filed Schedule 13G filed by Baker Bros. Advisors LP (the “Adviser”), Baker Bros. Advisors (GP) LLC (the “Adviser GP”),
Julian C. Baker and Felix J. Baker (collectively, the “Reporting Persons”). Except as supplemented herein, such statements,
as heretofore amended and supplemented, remain in full force and effect.
Opthea Limited (the “Issuer”)
| Item 1(b) | Address of Issuer’s Principal Executive Offices: |
650 Chapel Street, Level 4
South Yarra, Victoria, Australia 3141
| Item 2(a) | Name of Person Filing: |
This Amendment No. 2 is being filed jointly
by the Reporting Persons.
| Item 2(b) | Address of Principal Business Office or, if None, Residence: |
The business address of each of the Reporting
Persons is:
c/o Baker Bros. Advisors LP
860 Washington Street, 3rd
Floor
New York, NY 10014
(212) 339-5690
The Adviser is a limited partnership organized under the laws
of the State of Delaware. The Adviser GP is a limited liability company organized under the laws of the State of Delaware. The citizenship
of each of Julian C. Baker and Felix J. Baker is the United States of America.
| Item 2(d) | Title of Class of Securities: |
Ordinary Shares, no par value per share
(“Ordinary Shares”).
68386J208
Item 3 | If this statement is filed pursuant to §§240.13d-1(b) or (c), check whether the person filing is a: |
|
(a) |
¨ |
Broker or dealer registered under Section 15 of the Exchange Act. |
|
|
|
(b) |
¨ |
Bank as defined in Section 3(a)(6) of the Exchange Act. |
|
|
|
(c) |
¨ |
Insurance company as defined in Section 3(a)(19) of the Exchange Act. |
|
|
|
(d) |
¨ |
Investment company registered under Section 8 of the Investment Company Act of 1940. |
|
|
|
(e) |
x |
An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E). |
|
|
|
(f) |
¨ |
An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F). |
|
|
|
(g) |
x |
A parent holding company or control person in accordance with Rule
13d-1(b)(1)(ii)(G). |
|
|
|
(h) |
¨ |
A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act. |
|
|
|
(i) |
¨ |
A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940. |
|
|
|
(j) |
¨ |
Group, in accordance with Rule 13d-1(b)(1)(ii)(J). |
Items 5 through 9 and 11 of each of the cover pages to this
Amendment No. 2 are incorporated herein by reference. Set forth below is the aggregate number of Ordinary Shares 21,531,128 of which are
represented by 2,691,391 American Depositary Shares (“ADS”) directly held by Baker Brothers Life Sciences, L.P. (“Life
Sciences”) and 667, L.P. (“667”, and together with Life Sciences, the “Funds”), all of which may be deemed
to be indirectly beneficially owned by the Reporting Persons. Each ADS represents 8 Ordinary Shares of the Issuer.
The information set forth below is based on 466,918,460 Ordinary Shares
outstanding as of November 30, 2022 as reported in the Issuer’s Appendix 2A filed with the Australian Stock Exchange (“ASX”)
on November 29, 2022. Such percentage figures are calculated in accordance with Rule 13d-3 under the Securities Exchange Act of 1934,
as amended.
Name | |
Number of Ordinary Shares
we own or have the right to
acquire within 60 days | |
Percent of
Class Outstanding | |
667, L.P. | |
2,536,780 | |
0.6 | % |
Baker Brothers Life Sciences, L.P. | |
29,091,064 | |
6.2 | % |
Total | |
31,627,844 | |
6.8 | % |
Pursuant to the management agreements, as amended, among the
Adviser, the Funds and their respective general partners, the Funds’ respective general partners relinquished to the Adviser all
discretion and authority with respect to the investment and voting power of the securities held by the Funds and thus the Adviser has
complete and unlimited discretion and authority with respect to the Funds’ investments and voting power over investments.
The Adviser GP, Felix J. Baker and Julian C. Baker as managing members
of the Adviser GP, and the Adviser may be deemed to be beneficial owners of Securities of the Issuer directly held by the Funds.
| Item 5 | Ownership of Five Percent or Less of a Class: |
If this statement is being filed to report the fact that as of the
date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of Securities, check the
following [ ]. N/A
| Item 6 | Ownership of More than Five Percent on Behalf of Another
Person: |
N/A
| Item 7 | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company
or Control Person: |
The information in Item 4 is
incorporated herein by reference.
| Item 8 | Identification and Classification of Members of the Group: |
N/A
| Item 9 | Notice of Dissolution of Group: |
N/A
By signing below I certify that, to the best of my knowledge
and belief, the Securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are
not held for the purpose of or with the effect of changing or influencing the control of the issuer of the Securities and were not acquired
and are not held in connection with or as a participant in any transaction having that purpose or effect.
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and correct.
February 14, 2023
|
BAKER BROS. ADVISORS LP
By: Baker Bros. Advisors (GP) LLC, its general partner |
|
|
|
|
By: |
/s/ Scott L. Lessing |
|
|
Name: Scott L. Lessing
Title: President |
|
BAKER BROS. ADVISORS (GP) LLC |
|
|
|
|
By: |
/s/ Scott L. Lessing |
|
|
Name: Scott L. Lessing
Title: President |
|
/s/ Julian C. Baker |
|
Julian C. Baker |
|
|
/s/ Felix J. Baker |
|
Felix J. Baker |
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