Opthea (ASX:OPT) said it continued to establish a clearer capital position in the September quarter to evaluate its strategic options by simplifying its operations and resolving key financial matters, according to a Friday Australian bourse filing.

It noted that its quarterly research and development expenditure fell 80% quarter-over-quarter to $8.3 million, and personnel costs fell 94% to $800,000. It is reviewing all internal assets, intellectual-property holdings, and potential partnerships to create shareholder value.

It completed binding settlement and release agreements with investors under the development funding agreement to terminate earlier financing arrangements.