Opthea (ASX:OPT) expects to resume trading on the Australian Securities Exchange on or around Wednesday following a decision to advance its OPT-302 drug candidate for the treatment of lymphangioleiomyomatosis, according to a same-day filing with the Australian bourse.

Lymphangioleiomyomatosis is a chronic lung disease that mainly affects women, characterized by the destruction of lung tissue.

Opthea believes its scientific assets, manufacturing capabilities, and intellectual property portfolio "provide a strong foundation" for a strategy focused on the disease, where a significant unmet medical need exists.

The company has launched a staged development program over an expected 18-month period to evaluate OPT-302, it said.