Opthea Limited (OPT) 20-F 29 Sep 22 2022 FY Annual report (foreign) Financial data

Document and Entity Information

Document and Entity Information	12 Months Ended
	Jun. 30, 2022 shares
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Period End Date	Jun. 30, 2022
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	FY
Entity Registrant Name	OPTHEA LIMITED
Entity Central Index Key	0001815620
Current Fiscal Year End Date	--06-30
Entity File Number	001-39621
Entity Incorporation, State or Country Code	C3
Entity Address, Address Line One	Level 4
Entity Address, Address Line Two	650 Chapel Street
Entity Address, City or Town	South Yarra
Entity Address, Postal Zip Code	3141
Document Annual Report	true
Document Transition Report	false
Document Registration Statement	false
Document Shell Company Report	false
ICFR Auditor Attestation Flag	false
Document Accounting Standard	International Financial Reporting Standards
Entity Address, Country	AU
Entity Well-known Seasoned Issuer	No
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Interactive Data Current	Yes
Auditor Name	Deloitte Touche Tohmatsu
Auditor Location	Perth, Australia
Auditor Firm ID	1070
Business Contact
Document Information [Line Items]
Entity Address, Address Line One	Level 4
Entity Address, City or Town	South Yarra
Entity Address, Postal Zip Code	3141
City Area Code	+61 3
Local Phone Number	9826 0399
Contact Personnel Name	Dr Megan Baldwin
Contact Personnel Email Address	info@opthea.com
Entity Address, Country	AU
American Depository Shares
Document Information [Line Items]
Trading Symbol	OPT
Title of 12(b) Security	American Depositary Shares, each representing eight ordinary shares
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	12,000,807
Ordinary shares [member]
Document Information [Line Items]
No Trading Symbol Flag	true
Title of 12(b) Security	Ordinary shares, no par value
Security Exchange Name	NASDAQ
Entity Common Stock, Shares Outstanding	352,152,542

Consolidated Statements of Prof

Consolidated Statements of Profit or Loss and Other Comprehensive Income - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Income Statement [Abstract]
Revenue	$ 90,683	$ 68,613	$ 59,061
Other income	108,322	26,950	41,629
Research and development expenses	(78,654,217)	(25,891,851)	(12,064,008)
Patent expenses	(131,788)	(137,666)	(282,042)
Intellectual property expenses	(28,713)	(291,235)	(74,938)
Administration expenses	(17,901,112)	(13,399,748)	(4,702,860)
Occupancy expenses	(21,307)	(18,445)	(23,272)
Finance income - interest income	235,468	372,001	480,453
Net foreign exchange loss	(2,813,993)	(11,011,961)	(265,989)
Loss before income tax	(99,116,657)	(50,283,342)	(16,831,966)
Income tax benefit	6,299,286	4,938,846	5,708,767
Loss for the year	(92,817,371)	(45,344,496)	(11,123,199)
Items that will not be reclassified subsequently to profit or loss:
Fair value gains on investments in financial assets		469,767	41,098
Other comprehensive income for the year, net of tax		469,767	41,098
Total comprehensive loss for the year	(92,817,371)	(44,874,729)	(11,082,101)
Loss for the year is attributable to:
Owners of the Company	(92,817,371)	(45,344,496)	(11,123,199)
Loss for the year	(92,817,371)	(45,344,496)	(11,123,199)
Total comprehensive loss for the year is attributable to:
Owners of the Company	(92,817,371)	(44,874,729)	(11,082,101)
Total comprehensive loss for the year	$ (92,817,371)	$ (44,874,729)	$ (11,082,101)
Loss per share attributable to the owners of the Company:
- Basic and diluted loss per share (cents)	$ (26.40)	$ (14.15)	$ (4.27)

Consolidated Statements of Fina

Consolidated Statements of Financial Position - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Current assets:
Cash and cash equivalents	$ 44,631,293	$ 118,193,177
Current tax receivable	6,299,286	4,972,898
Receivables	257,668	565,286
Prepayments	8,720,195	14,386,155
Total current assets	59,908,442	138,117,516
Non-current assets:
Property and equipment, net	28,082	23,259
Right-of-use assets		93,852
Prepayments	110,295	174,541
Total non-current assets	138,377	291,652
Total assets	60,046,819	138,409,168
Current liabilities:
Payables	11,445,498	2,501,518
Lease liabilities		112,965
Provisions	596,203	492,002
Total current liabilities	12,041,701	3,106,485
Non-current liabilities:
Provisions	27,974	16,915
Total non-current liabilities	27,974	16,915
Total liabilities	12,069,675	3,123,400
Net Assets	47,977,144	135,285,768
Equity
Contributed equity	235,277,217	234,147,526
Accumulated loss	(216,941,353)	(124,123,982)
Reserves	29,641,280	25,262,224
Total Equity	$ 47,977,144	$ 135,285,768

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity - USD ($)	Total	Contributed Equity	Pre-funded Warrants	Share-based Payment Reserve	Fair Value of Investment Reserve	FX Translation Reserve	Accumulated Deficit
Beginning balance at Jun. 30, 2019	$ 21,852,139	$ 80,331,016		$ 2,401,769	$ 517,700	$ 6,257,941	$ (67,656,287)
Fair value gains on investments in financial assets	41,098				41,098
Net loss for the year	(11,123,199)				(11,123,199)		(11,123,199)
Total Comprehensive income and expense for the year	(11,082,101)				41,098		(11,123,199)
Issuance of ordinary shares	33,236,520	33,236,520
Exercise of options granted under LTIP and NED plan		284,828		(284,828)
Exchange on conversion	(171,274)			266,451	(7,389)	(430,336)
Recognition of share-based payment expense	732,688			732,688
Ending balance at Jun. 30, 2020	44,567,972	113,852,364		3,116,080	551,409	5,827,605	(78,779,486)
Fair value gains on investments in financial assets	469,767				469,767
Net loss for the year	(45,344,496)				(45,344,496)		(45,344,496)
Total Comprehensive income and expense for the year	(44,874,729)				469,767		(45,344,496)
Issuance of ordinary shares and pre-funded warrants on NASDAQ listing net of issuance cost $10,126,959	117,023,620	105,477,591	$ 11,546,029
Issuance of ordinary shares on exercise of pre-funded warrants net of issuance costs $1,099,412		11,546,029	$ (11,546,029)
Exercise of options granted under LTIP and NED plan		3,271,542		(3,271,542)
Exchange on conversion	14,671,267			345,474	64,235	14,261,558
Recognition of share-based payment expense	3,897,638			3,897,638
Ending balance at Jun. 30, 2021	135,285,768	234,147,526		4,087,650	1,085,411	20,089,163	(124,123,982)
Net loss for the year	(92,817,371)				(92,817,371)		(92,817,371)
Total Comprehensive income and expense for the year	(92,817,371)						(92,817,371)
Exercise of options granted under LTIP and NED plan	257,175	1,129,691		(872,516)
Recognition of share-based payment expense	5,251,572			5,251,572
Ending balance at Jun. 30, 2022	$ 47,977,144	$ 235,277,217		$ 8,466,706	$ 1,085,411	$ 20,089,163	$ (216,941,353)

Consolidated Statements of St_2

Consolidated Statements of Stockholders' Equity (Parenthetical)	12 Months Ended
	Jun. 30, 2021 USD ($)
Ordinary shares [member]
Issuance of ordinary shares and pre-funded warrants, net of issuance cost	$ 10,126,959
Pre-funded Warrants
Issuance of ordinary shares and pre-funded warrants, net of issuance cost	1,099,412
Exercise of Warrants
Issuance of ordinary shares and pre-funded warrants, net of issuance cost	$ 1,099,412

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities
Interest received	$ 216,422	$ 390,128	$ 496,159
Royalty and license income received	90,683	103,031	96,189
Grant and other income	455,807	26,949	41,629
Payment of lease interest	(5,920)	(5,782)	(5,147)
Payments to suppliers, employees and for research & development and intellectual property costs (inclusive of GST)	(77,064,842)	(51,894,593)	(16,437,147)
Research and development tax incentive scheme credit received	4,972,898	5,834,100	10,118,697
Net cash flows used in operating activities	(71,334,952)	(45,546,167)	(5,689,620)
Cash flows from investing activities:
Purchase of plant and equipment	(16,910)	(12,702)	(2,531)
Proceeds from sale of financial assets		669,184	335,746
Net cash used in investing activities	(16,910)	656,482	333,215
Cash flows from financing activities:
Payment of lease liabilities	(85,578)	(87,373)	(66,781)
Net proceeds on issue of shares		105,477,591	32,951,692
Net proceeds on issuance of pre-funded warrants		11,546,029
Cash received for ordinary shares issued on exercise of options	257,175		284,828
Net cash provided by financing activities	171,597	116,936,247	33,169,739
Increase in cash and cash equivalents	(71,180,265)	72,046,562	27,813,334
Effects of exchange rate changes on the balance of cash held in foreign currencies	(2,381,619)	3,495,757	(284,296)
Cash and cash equivalents at beginning of year	118,193,177	42,650,858	15,121,820
Cash and cash equivalents at end of year	$ 44,631,293	$ 118,193,177	$ 42,650,858

Reporting Entity

Reporting Entity	12 Months Ended
	Jun. 30, 2022
Reporting Entity [Abstract]
Reporting Entity	Note 1 Reporting Entity Opthea Limited (the Company) is a listed public company incorporated in Australia. The address of its registered office and principal place of business is: Suite 0403, Level 4, 650 Chapel Street, South Yarra, VIC 3141, Australia. These consolidated financial statements comprise the Company and its subsidiaries (together referred to as the Group). The Group’s principal activity is the development of new drugs for the treatment of eye diseases.

Basis of Accounting

Basis of Accounting	12 Months Ended
	Jun. 30, 2022
Basis Of Accounting [Abstract]
Basis of Accounting	Note 2. Basis of Accounting These financial statements are general purpose financial statements which have been prepared in accordance with International Financial Reporting Standards (“or IFRS”) as issued by the International Accounting Standards Board (the “IASB”). The financial statements comprise the consolidated financial statements of the Group. For the purposes of preparing the consolidated financial statements, the Company is a for‑profit entity. The financial statements were authorized for issue by the directors on September 29, 2022. Going Concern For the year ended June 30, 2022, the Group incurred a loss after income tax of $92,817,371 (2021: $45,344,496) and had net cash outflows from operating activities of $71,334,952 (2021: $45,546,167). As of June 30, 2022, the Group had cash and cash equivalents of $44,631,293 (2021: $118,193,177), current assets of $59,908,442 (2021: $138,117,516) and was in a net current asset position of $47,866,741 (2021: $135,011,031). The consolidated financial statements have been prepared on a going concern basis, which contemplates continuity of normal activities and realization of assets and settlement of liabilities in the normal course of business. As the Group is still in the research and development phase, the ability of the Group to continue its development activities as a going concern is dependent upon it deriving sufficient cash from investors. Subsequent to June 30, 2022, on August 12, 2022, the Group entered a Development Funding Agreement (‘Agreement’) with Ocelot SPV LP (‘Investor’), an affiliate of Carlyle and Abingworth, pursuant to which Investor has committed to provide Opthea $120 million in funding which may be increased up to $170 million at the Investor’s option. Of this funding, $50 million was received by the Group in September 2022. Concurrently with the execution of the Agreement, the Group entered into binding commitments for the private placement of ordinary shares for aggregate gross proceeds of approximately $90 million (the ‘PIPE’). The PIPE consists of two tranches, of which the first tranche of AU$60.7 million (US$41.9 million) was received on August 24, 2022. The second tranche of $47.5 million, which was approved on September 26, 2022, and is expected to be issued and received September 30, 2022. On September 26, 2022, Opthea completed its Share Purchase Plan raising US$618k(AU$940k) issuing 817,824 ordinary shares. See Note 31, Events after the balance sheet date, for further information. The Directors and management have considered the cash flow forecasts including the funding requirements of the business as well as the funding raised through the Agreement and PIPE. They have also considered the Group’s key risks and uncertainties affecting the likely development of the business, as well as the conditions set forth in the Agreement. Based on this assessment, the Directors and management believe that the conditions in the Agreement can be met and that the Group has adequate resources to continue normal activities and realize its assets and settle its liabilities in the normal course of business. Accordingly, the directors have prepared the financial statements on the going concern basis.

Summary of Accounting Policies

Summary of Accounting Policies	12 Months Ended
	Jun. 30, 2022
Description Of Business And Summary Of Significant Accounting Policies [Abstract]
Summary of Accounting Policies	Note 3. Summary of Accounting Policies The consolidated financial statements have been prepared using the significant accounting policies and measurement bases summarized below. Basis of measurement The consolidated financial statements have been prepared on a historical cost basis, except for the investments classified as financial assets, which have been measured at fair value. All amounts are presented in United States dollars unless otherwise stated. Functional currency An entity’s functional currency is the currency of the primary economic environment in which the entity operates. During 2021, the Group’s operations continued to move further towards being US$ denominated and several other factors during the period have also contributed to the Group changing its functional currency during the year, such as the completion of U.S. initial public offering (IPO) and the Nasdaq listing in October 2020, opening a US subsidiary in May 2021 for a planned expansion into the US, and expanding the Board of Directors with the appointment of now five US based Directors. A significant element in the Group’s assessment to change the functional currency resulted from the significant increase in expenses denominated in US dollars relating to advanced clinical trials since the commencement of Phase 3 trials in March 2021. These changes, as well as the fact that the Group’s principal source of financing is now the U.S. capital market and all of the Group’s budgeting and planning is conducted solely in dollars led to the Company determining that the U.S. dollar (US$) best represents the currency of the primary economic environment in which the entity now operates. Accordingly, the Group changed its functional currency from Australian dollar (A$) to U.S. dollar (US$) effective January 1, 2021. Presentation Currency Following the change in functional currency, the Group changed its presentation currency from Australian dollars (A$) to US$. The change in presentation currency was made to better reflect the Group’s business activities and to enhance access to U.S. capital markets. Prior to the change, the Group reported its financial statements in Australian dollars (A$). A change in presentation currency is a change in accounting policy which is accounted for retrospectively during 2021. In making this change in presentation currency, the Group followed the requirements set out in IAS 21 The Effects of Changes in Foreign Exchange Rates Change in Presentation of Other Income The Group changed its presentation of Other income by reclassifying interest income out of Other income and into Finance Income – interest income to better reflect the nature of the related amounts as finance income. This reclassification had no effect on the reported results of operations. Basis of consolidation The consolidated financial statements incorporate the financial statements of the Company and its subsidiaries. Control is achieved when the Company: • Has power over the investee; • Is exposed, or has rights, to variable returns from its involvement with the investee; and • Has the ability to use its power to affect its returns. Consolidation of a subsidiary begins when the Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation. Foreign currency translation i. Functional and presentation currency As of January 1, 2021 the Group determined that its functional and presentation currency had changed from Australian Dollars to United States Dollars. Therefore, the functional and presentation currency of the Group is the United States dollars (US$). ii. Transactions and balances Transactions in foreign currencies are initially recorded in the functional currency by applying the exchange rates ruling in place at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling in place at the reporting date. Non‑monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate as of the date of the initial transaction. Non‑monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. Financial assets and liabilities Recognition and derecognition of financial assets Purchases and sales of financial assets that require delivery of assets within the time frame generally established by regulation or convention in the marketplace are recognized on the trade date, i.e., the date that the Group commits to purchase the asset. Financial assets are derecognized when the right to receive cash flows from the financial assets has expired or when the entity transfers substantially all the risks and rewards of the financial assets. If the entity neither retains nor transfers substantially all of the risks and rewards, it derecognizes the asset if it has transferred control of the assets. When financial assets are recognized initially, they are measured at fair value, plus directly attributable transaction costs. Cash and cash equivalents Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand and short‑term deposits with an original maturity of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. For the purposes of the statement of cash flows, cash and cash equivalents consist of cash and cash equivalents as defined above. Other receivables Other receivables generally comprise bank interest receivable, other receivables from external parties and Goods and Services Tax (GST) credits receivable and are recognized and carried at original invoice amount less an allowance for any uncollectible amounts. The amounts are usually received within 30 to 60 days of recognition. The Group measures the loss allowance for receivables at an amount equal to lifetime expected credit losses (ECL). The ECL on receivables are estimated under the simplified approach as permitted under IFRS 9 “Financial Instruments.” This uses a provision matrix by reference to past experience of the debtor and an analysis of the debtor’s current financial position, adjusted for factors that are specific to the debtors and general economic conditions of the industry in which the debtors operate. The Group writes off a receivable when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery. Investments Investments in financial assets comprise of the Group’s non‑current investments in listed companies. On initial recognition, the Group may make an irrevocable election (on an instrument‑by‑instrument basis) to designate investments in equity instruments as fair value through other comprehensive income (FVTOCI). Designation at FVTOCI is not permitted if the equity instrument is held for trading. Investments in equity instruments at FVTOCI are initially measured at fair value plus transaction costs. Subsequently, they are measured at fair value with gains or losses arising from changes in the fair value recognized in other comprehensive income and accumulated in the fair value of investments reserve. The fair values of investments in financial assets that are actively traded in organized financial markets is determined by reference to quoted market bid prices at the close of business on the reporting date. The cumulative gain or loss is not reclassified to profit or loss on disposal of the equity instruments. Dividends on these investments in equity instruments are recognized in profit or loss in accordance with International Financial Reporting Standards. Finance income Almost all of the Group’s finance income is earned on short‑term bank deposits, and as such, finance income is recognized when the Group’s right to receive the payment is established. Payables Payables are carried at amortized cost and due to their short‑term nature, they are not discounted. They represent liabilities for goods and services provided to the Group prior to the end of the financial year that are unpaid and arise when the Group becomes obliged to make future payments in respect of the purchase of these goods and services. The amounts are unsecured and are usually paid within 30 days of recognition. Plant and equipment Plant and equipment are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated on a straight‑line basis over their useful economic lives as follows: • Equipment and furniture – 3 to 10 years; and • Leasehold improvements – 8 years or the term of the lease if shorter. The assets’ residual values, useful lives and amortization methods are reviewed, and adjusted if appropriate, at each financial year end. An item of plant and equipment is derecognized upon disposal or when no further economic benefits are expected from its use or disposal. Research and development costs Research costs are expensed as incurred. An intangible asset arising from the development expenditure on an internal project will only be recognized when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the development and the ability to measure reliably the expenditure attributable to the intangible asset during its development. As of June 30, 2022, 2021 and 2020, the Group is in the research phase and has not capitalized any development costs to date. Provisions and employee benefits i. Wages, salaries, annual leave and sick leave Liabilities for wages and salaries, including non‑monetary benefits and annual leave expected to be settled within 12 months of the reporting date are recognized in current provisions in respect of employees’ services up to the reporting date. They are measured at the amounts expected to be paid when the liabilities are settled. Expenses for non‑accumulating sick leave are recognized when the leave is taken and are measured at the rate paid or payable. ii. Long service leave The liability for long service leave is recognized in the provision for employee benefits and measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date. Consideration is given to expected future wage and salary levels, experience of employee departures, and periods of service. Expected future payments are discounted using market yields at the reporting date on bonds with terms to maturity that match, as closely as possible, the estimated future cash outflows. Share‑based payment transactions The Group provides benefits to directors and employees (including key management personnel) of the Group in the form of share‑based payments, whereby employees render services in exchange for shares or rights over shares (equity‑settled transactions). The cost of these equity‑settled transactions with employees is measured by reference to the fair value at the date at which they are granted. Binomial models are used to value the options issued. The cost of the equity‑settled transactions is recognized, together with a corresponding increase in equity, over the period in which the performance conditions are fulfilled (the vesting period), ending on the date on which the relevant employees become fully entitled to the award (the vesting date). The charge to profit or loss for the period is the cumulative amount less the amounts already charged in previous periods. There is a corresponding credit to equity. Until an award has vested, any amounts recorded are contingent and will be adjusted if more or fewer awards vest than were originally anticipated to do so. Contributed equity Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds. Revenue recognition License revenue in connection with licensing of the Group’s intellectual property (including patents) to customers is recognized as a right to use the Group’s intellectual property as it exists at the point in time in which the license is granted. This is because the contracts for the license of intellectual property are distinct and do not require, nor does the customer reasonably expect, that the Group will undertake further activities that significantly affect the intellectual property to which the customer has the rights. Although the Group is entitled to sales‑based royalties from the eventual sales of goods and services to third parties using the intellectual property licensed, these royalty arrangements do not in themselves indicate that the customer would reasonably expect the Group to undertake such activities, and no such activities are undertaken or contracted in practice. Accordingly, the promise to provide rights to the Group’s intellectual property is accounted for as a performance obligation satisfied at a point in time. The following consideration is received in exchange for licenses of intellectual property: • Up‑front license fees – these are fixed amounts and are recognized at the point in time when the Group transfers the intellectual property to the customer. • Sales‑based royalties – these are variable consideration amounts promised in exchange for the license of intellectual property and are recognized when the sales to third parties occur given the performance obligation to transfer the intellectual property to the customer is already satisfied. During the years ended June 30, 2022, 2021 and 2020, the Group’s only revenue related to sales‑based royalties. Income tax Current tax Current tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities based on the current period’s taxable income. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the reporting date. Research and development tax incentive The Research and Development (R&D) Tax Incentive Scheme is an Australian Federal Government program under which eligible companies with annual aggregated revenue of less than A$20 million can receive cash amounts equal to 43.5% of eligible research and development expenditures from the Australian Taxation Office (ATO). The R&D Tax Incentive Scheme incentive relates to eligible expenditure incurred in Australia and, under certain circumstances, overseas on the development of the Group’s lead candidate, OPT‑302. The R&D tax incentive is applied annually to eligible expenditure incurred during the Group’s financial year following annual application to AusIndustry, an Australian governmental agency, and subsequent filing of its Income Tax Return with the ATO after the financial year end. The Group estimates the amount of R&D tax incentive after the completion of the financial year based on eligible Australia and overseas expenditures incurred during that year. The Group has presented incentives in respect of the R&D Tax Incentive Scheme within income tax benefit in the Statements of Profit or Loss and Other Comprehensive Income by analogizing with IAS 12 “Income Taxes”. Deferred tax Deferred income tax is provided on all temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax liabilities are recognized for all taxable temporary differences except when the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and that, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss. Deferred income tax assets are recognized for all deductible temporary differences, carry forward of unused tax assets (or credits) and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except when the deferred income tax asset relating to the deductible temporary differences arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit or taxable profit or loss. The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered. Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at balance date. Income taxes relating to items recognized directly in equity are recognized directly in equity and not in profit or loss. Tax consolidation legislation Tax consolidation is a system adopted by the ATO that treats a group of entities as a single entity for tax purposes. Opthea Limited and its 100% owned Australian domiciled subsidiary formed a tax consolidated group effective July 1, 2003. The head entity, Opthea Limited, and its controlled entity, Vegenics Pty Ltd, are current members of the tax consolidated group and account for their own current and deferred tax amounts. Members of the tax consolidated group have adopted the “separate taxpayer within group” method to allocate the current and deferred tax amounts to each entity within the Group. This method requires adjustments for transactions and events occurring within the tax consolidated group that do not give rise to a tax consequence for the Group or that have a different tax consequence at the level of the Group. This method requires adjustments for transactions and events occurring within the tax consolidated group that do not give rise to a tax consequence for the Group or that have a different tax consequence at the level of the Group. The head entity which is the parent entity, in assuming the net unused tax losses and unused relevant tax credits, has recognized reductions to investments in subsidiaries and where the amount of tax losses assumed is in excess of the carrying value of the investment, the parent has recognized the difference as a distribution from subsidiaries in profit or loss. Other taxes Revenues, expenses, assets and liabilities are recognized net of the amount of GST except: • When the GST incurred on a purchase of goods and services is not recoverable from the taxation authority, in which case the GST is recognized as part of the cost of acquisition of the asset or as part of the expense item as applicable; and • Receivables and payables are stated with the amount of GST included. The net amount of GST recoverable from, or payable to the taxation authority is included as part of receivables or payables in the statement of financial position. Cash flows are included in the statement of cash flows on a gross basis and the GST component of cash flows arising from investing and financing activities, which is recoverable from, or payable to, the taxation authority is classified as part of operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the taxation authority.

Critical Accounting Judgements

Critical Accounting Judgements and Key Sources of Estimation Uncertainty	12 Months Ended
	Jun. 30, 2022
Disclosure Of Changes In Accounting Estimates [Abstract]
Critical Accounting Judgements and Key Sources of Estimation Uncertainty	Note 4. Critical Accounting Judgements and Key Sources of Estimation Uncertainty In applying the Group’s accounting policies, management continually evaluates judgments, estimates and assumptions based on experience and other factors, including expectations of future events that may have an impact on the Group. All judgments, estimates and assumptions made are believed to be reasonable based on the most current set of circumstances available to management. Actual results may differ from the judgments, estimates and assumptions. Significant judgments, estimates and assumptions made by management in the preparation of these financial statements are outlined below: 4.1 Critical judgments in applying accounting policies Research and development costs The majority of Opthea’s expenditure is incurred as a result of clinical trials for OPT‑302. During the years ended June 30, 2020 2021 and 2022, Opthea completed its Phase 2b wet age‑related macular degeneration (wet AMD) and Phase 1b/2a diabetic macular edema (DME) trials and Phase 3 clinical trials for OPT-302 was initiated during 2021. A key measure of Opthea’s performance is the level of expenditure incurred on the research of OPT‑302 . Judgment is required in relation to: • The classification of expenses in the income statement between research and development costs and operating expenses; and • Whether costs relate to R&D, and consequently if they meet the capitalization criteria under IAS 138 “Intangible Assets.” The directors have determined that the Group is still in a research phase and accordingly, no development costs have been capitalized as of June 30, 2022, 2021 and 2020. Taxation Research and development tax incentive The Research and Development (R&D) Tax Incentive Scheme is an Australian Federal Government program under which eligible companies can receive cash refunds of 43.5% of eligible R&D expenditure. Judgments are required as to the R&D tax incentive refundable offset eligibility in respect of: • The Group’s ability to make claims and its continued compliance under the scheme; • R&D and other supporting costs previously approved by Australian tax authorities; • Estimated amounts, timing and geographical location of future costs related to the projects for which applications have been approved to date; and • Assessment of whether expenditure on projects for which approval has been given by Australian tax authorities relate to Australian or overseas expenditure. For the years ended June 30, 2022, and 2021, the Group has recognized an R&D tax incentive receivable of US$6.3 million and US$5.0 million respectively within the consolidated statements of financial position, with a corresponding amount recognized within income tax benefit within the consolidated statements of profit or loss and other comprehensive income. The R&D tax incentive receivable as of June 30, 2022 and 2021 is based on the legislation as currently enacted as of June 30, 2022 and 2021, respectively. Any proposed changes to the legislation, such as rate changes and eligibility requirements, may have a retrospective impact if the legislation is passed. During the year, no such legislative changes have occurred. Investment tax credits such as the R&D tax incentive are outside of the scope of IAS 12 “ Income Taxes Accounting for Government Grants and Disclosure of Government Assistance guidance in IAS 8 “Accounting Policies, Changes in Accounting Estimates and Errors,” companies need to make an accounting policy choice on how to present these incentives, which in practice is done by either analogizing with IAS 12 or with IAS 20. In the Group’s opinion, the R&D tax incentive should be presented by analogizing to IAS 12 because the nature of the incentive is considered to be more closely aligned to income taxes, based on the following considerations: • The R&D tax incentive is considered an income tax offset which will be offset against the Group’s tax obligation if and when the Group returns to a net tax payable position. In addition, whilst the Group is currently eligible to receive cash payments under the scheme since its consolidated revenue is currently below A$20 million, if and when the Group generates revenue in excess of A$20 million the R&D tax incentive will become non‑refundable and can only be offset against any future income tax payable by the Group. • The ATO, which is the tax authority in Australia, manages the annual claims process as the R&D tax incentive is included in the Group’s annual income tax return. • The ATO is also responsible for making the R&D tax incentive cash payment if a company is eligible for a cash refund under the program, oversees compliance with the requirements of the R&D tax incentive scheme and performs pre‑issuance reviews. Income tax The Group’s accounting policy for taxation requires judgments as to the differences between tax and accounting treatments of income and costs recognized in the consolidated statements of profit or loss and other comprehensive income. Judgment is also required in assessing whether deferred tax assets and liabilities are recognized in the statements of financial position and if accumulated income tax losses can be used to offset potential future tax profits. Functional currency Effective January 1, 2021 the Group’s functional and presentation currency changed from Australian dollars to U.S. dollars as disclosed in Note 3. The Group’s assets, liabilities and equity which were previously denominated in Australian dollars were translated into U.S. dollars on the date the functional currency changed. Significant judgment is required in determining the currency of the primary economic environment in which the Group operates, which requires an evaluation of various indicators related to the Group’s underlying transactions, events and conditions as they relate to generating and expending cash. 4.2 Key sources of estimation uncertainty Share‑based payment transactions The Group measures the cost of equity‑settled transactions with employees by reference to the fair value of the equity instruments at the date at which they are granted. Fair values are determined internally using Binomial models. The related assumptions are detailed in note 30. The accounting estimates and assumptions relating to equity‑settled share‑based payments have no impact on the carrying amounts of assets and liabilities in future reporting periods but may impact expenses and equity. Should one or more of the assumptions and estimates used in estimating the fair value of share‑based payments change, this could have a material impact on the amounts recognized in equity and employee‑related expenses.

Application of New and Revised

Application of New and Revised Accounting Standards	12 Months Ended
	Jun. 30, 2022
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Abstract]
Application of New and Revised Accounting Standards	Note 5. Application of New and Revised Accounting Standards New and amended Accounting Standards that are effective for the current year The Group has adopted all of the new and revised Standards and Interpretations issued by the International Accounting Standards Board (the IASB) that are relevant to its operations and effective for the current year. New and revised Standards and amendments thereof and Interpretations effective for the current year that are relevant to the Group include: • International Financial Reporting Standard Interest Rate Benchmark Reform (IFRS 7) • International Financial Reporting Standard Covid -19 Rent Concessions beyond 30 June 2021 (IFRS 16) • International Financial Reporting Standard – Annual Improvements 2018-2020 and Other amendments: and • International Financial Reporting Standard – Effective Date of Amendments to IAS 10 and IAS 128 and Editorial Corrections. In the current year, the Group has applied a number of amendments to International Financial Reporting Standards and Interpretations issued by the International Accounting Standards Board (IASB) that are effective for an annual period that begins on or after July 1, 2021. Their adoption has not had any material impact on the disclosures or on the amounts reported in these financial statements. New and revised International Accounting Standards and Interpretations on issue but not yet effective At the date of authorization of the financial statements, the Group has not applied the following new and revised International Accounting Standards, Interpretations and amendments that have been issued but are not yet effective: Standard/amendments Effective for annual reporting periods beginning on or after IFRS 1, IAS 1 – Classification of Liabilities as Current or Non-current and Classification of Liabilities as Current and Non-current - Deferral of Effective Dated January 1,2023 IAS 8 – Disclosure of Accounting Policies and Definition of Accounting Estimates January 1,2023 IFRS 16, IFRS 9, IFRS 1 and IAS 41 – Annual Improvements 2018-2020 and Other Amendments January 1,2023 IFRS 9 and IFRS 17 – Initial application - Comparative information January 1,2023 IFRS 1, IAS 12 - Deferred tax related to Assets and Liabilities arising from a Single Transaction January 1,2023 The new and revised Accounting Standards, Interpretations and amendments listed above are not expected to have a material impact on the amounts recognized or disclosures included in the Group’s financial statements.

Segment Information

Segment Information	12 Months Ended
	Jun. 30, 2022
Disclosure Of Operating Segments [Abstract]
Segment Information	Note 6. Segment Information The Group operates in one industry and two geographical area, those being the biotechnology and healthcare industry and Australia and United States, respectively. The Group is focused primarily on developing a novel therapy for the treatment of highly prevalent and progressive retinal diseases. The chief executive officer regularly reviews entity wide information that is compliant with International Financial Reporting Standards. There is only one segment for segment reporting purposes, and the information reviewed by the chief executive officer for the purpose of resources allocation and performance assessment is the same as the information presented in the consolidated financial statements. The Group’s only revenue stream in the current and previous financial year is royalty income generated from licenses granted in respect of the Group’s intellectual property that are unrelated to the Group’s core business and the development of OPT ‑302 and that are not under development. These licenses are primarily used by third ‑party licensees for research purposes. All of the royalty income of US $ (202 1 : US $ 68,613 20 20 :US$ 59,061 ) was generated from customers based outside of Australia. The Group does not have any major customers. All property, plant and equipment are located in Australia .

Revenue

Revenue	12 Months Ended
	Jun. 30, 2022
Revenue [Abstract]
Revenue	Note 7. Revenue 2022 2021 2020 US$ US$ US$ Sales-based royalties 90,683 68,613 59,061 Total Revenue 90,683 68,613 59,061

Other Income

Other Income	12 Months Ended
	Jun. 30, 2022
Analysis Of Income And Expense [Abstract]
Other Income	Note 8. Other Income 2022 2021 2020 US$ US$ US$ Grant and other income 108,322 26,950 41,629 Total other income 108,322 26,950 41,629

Research and Development Expens

Research and Development Expenses	12 Months Ended
	Jun. 30, 2022
Disclosure Of Research And Development Expenses [Abstract]
Research and Development Expenses	Note 9. Research and Development Expenses 2022 2021 2020 US$ US$ US$ Research project costs 78,654,217 25,891,851 12,064,008 Total research and development expenses 78,654,217 25,891,851 12,064,008 The research project costs relate to the research programs in respect to the treatment of eye diseases by OPT‑302.

Expenses

Expenses	12 Months Ended
	Jun. 30, 2022
Expense By Nature [Abstract]
Expenses	Note 10. Expenses 2022 2021 2020 US$ US$ US$ Administrative expenses Employee benefits expenses: Salaries and fees 2,931,243 1,794,840 1,424,237 Cash bonuses 376,649 479,501 193,588 Superannuation 171,899 188,543 141,019 Share-based payments expense 5,251,572 3,897,638 732,688 Total employee benefits expense 8,731,363 6,360,522 2,491,532 Other expenses: Insurance 4,205,106 4,419,433 335,786 Investor relations costs 328,026 285,071 254,212 Audit and accounting 496,652 647,549 221,410 Travel expenses 13,616 1,459 44,521 Payroll tax 172,884 18,766 134,845 Legal fees 1,252,014 83,605 372,431 Advisory fees 156,978 393,843 416,082 Consultancy costs 1,619,824 367,070 — Other expenses 846,098 714,328 334,262 Total other expenses 9,091,198 6,931,124 2,113,549 Depreciation of: Equipment and furniture 11,917 15,012 14,581 Leasehold improvements — — 344 Right-of-use assets 66,465 91,656 81,611 Total depreciation expense 78,382 106,668 96,536 Loss on disposal of non-current assets 169 1,434 1,243 Total administrative expenses 17,901,112 13,399,748 4,702,860

Finance Income

Finance Income	12 Months Ended
	Jun. 30, 2022
Material Income And Expense [Abstract]
Finance Income	Note 11. Finance Income 2022 2021 2020 US$ US$ US$ Interest income 235,468 372,001 480,453 Total finance income 235,468 372,001 480,453

Net Foreign Exchange Loss

Net Foreign Exchange Loss	12 Months Ended
	Jun. 30, 2022
Net Foreign Exchange Loss Gain [Abstract]
Net Foreign Exchange Loss	Note 12. Net Foreign Exchange Loss 2022 2021 2020 US$ US$ US$ Net foreign exchange loss (2,813,993 ) (11,011,961 ) (265,989 ) Total net foreign exchange loss (2,813,993 ) (11,011,961 ) (265,989 ) Exchange differences arising on the translation of monetary items are recognized in the Statements of Profit and Loss and other Comprehensive Income, except where deferred in equity as a qualifying cash flow or net investment hedge. After the Company’s US IPO where the Company raised US$128 million, the Company entered into an Australian dollar denominated term deposit worth US$100 million (AUD141.9million) maturing on February 3, 2021. The Company simultaneously entered into a foreign currency exchange contract under which the term deposit converted back to US dollars at effectively the same foreign exchange rate as when the term deposit was entered into. As the Group’s functional currency was the Australian dollar (A$) until December 31, 2020, the Group recorded a foreign exchange loss of US$9milion in relation to this transaction.

Income Taxes

Income Taxes	12 Months Ended
	Jun. 30, 2022
Major Components Of Tax Expense Income [Abstract]
Income Taxes	Note 13. Income Taxes 2022 2021 2020 US$ US$ US$ (a) Income tax benefit The major components of income tax benefit are: Statement of Profit or Loss and Other Comprehensive Income Current tax Current income tax credit 6,299,286 4,938,846 5,708,767 6,299,286 4,938,846 5,708,767 Deferred tax In respect of the current year — — — Total income tax benefit recognized in the Statement of Profit or Loss and Other Comprehensive Income 6,299,286 4,938,846 5,708,767 (b) Current tax receivable June 30, 2022 June 30, 2021 June 30, 2020 US$ US$ US$ Research and Development Tax Incentive Credit receivable 6,299,286 4,972,898 5,868,152 (c) Numerical reconciliation between aggregate income tax benefit recognized in the Statement of Profit of Loss and Other Comprehensive Income and benefit calculated per the statutory income tax rate A reconciliation between income tax benefit and the product of accounting loss before income tax multiplied by the Group’s applicable income tax rate is as follows: 2022 2021 2020 US$ US$ US$ Accounting loss before tax (99,116,657 ) (50,283,342 ) (16,831,966 ) At the Company's statutory income tax rate of 30% (2020:27.5%) 29,734,997 15,085,003 4,628,791 R&D tax incentive on eligible expenses 6,299,286 4,938,846 5,708,767 Non-deductible R&D expenditure (4,344,335 ) (3,420,951 ) (3,624,766 ) Other non-deductible expenses - share-based payment expense (1,575,472 ) (1,169,291 ) (201,489 ) Amount of temporary differences and carried forward tax losses not recognized (23,815,190 ) (10,494,761 ) (802,536 ) 6,299,286 4,938,846 5,708,767 (d) Recognized deferred tax assets and liabilities in statement of financial position June 30, 2022 June 30, 2021 June 30, 2020 Deferred income tax at June 30 relates to the following: Deferred tax liabilities: Interest and royalty income receivable (future assessable income) (17,085 ) (2,344,514 ) (70,925 ) (17,085 ) (2,344,514 ) (70,925 ) Deferred tax assets related to temporary differences: Recognition of tax losses — 1,508,764 — Accrued expenses and other liabilities 198,607 205,458 303,383 Employee provisions 161,159 152,675 128,812 Other miscellaneous items 306,531 477,617 430,839 666,297 2,344,514 863,034 Net deferred tax assets 649,212 — 792,109 Less: temporary differences not recognized (649,212 ) — (792,109 ) Net deferred tax recognized in the statement of financial position — — — (e) Unrecognized temporary differences Temporary differences with respect to deferred tax assets associated with intellectual property and other miscellaneous items which have a low probability of realization are unrecognized. These amounted to US$649,212 at year end (2021: nil). (f) Carry forward unrecognized tax losses The Group had income tax losses of US$37,717,792 and capital losses of US$412,122 at year end (2021: income tax losses of US$20,846,641 and capital losses of US$672,934) for which no deferred tax asset is recognized on the consolidated statement of financial position as they are currently not considered probable of realization. These tax losses are available indefinitely for offset against future assessable income subject to continuing to meet relevant statutory tests. (g) Franking credit balance Franking credits are a type of tax credit in Australia that is available to the Group’s shareholder to reduce double taxation on any dividends paid by the Group. The franking account balance at the end of the financial year at 30% (2021: 30%) is A$227,371 (2021: A$227,371), which represents the amount of franking credits available for the subsequent financial year. Franking credits are not recognized in the consolidated statement of financial position.

Earnings per Share

Earnings per Share	12 Months Ended
	Jun. 30, 2022
Earnings Per Share [Abstract]
Earnings per Share	Note 14. Earnings per Share 2022 2021 2020 US$ US$ US$ The following reflects the income used in the basic and diluted earnings per share computations: (a) Earnings used in calculating earnings per share Net loss attributable to ordinary equity holders of the parent (92,817,371 ) (45,344,496 ) (11,123,199 ) (b) Weighted average number of shares Weighted average number of ordinary shares on issue for basic earnings per share 351,560,199 320,432,814 260,795,745 Effect of dilution: Share options — — — Weighted average number of ordinary shares adjusted for the effect of dilution 351,560,199 320,432,814 260,795,745 Loss per share (basic and diluted in cents) (26.40 ) (14.15 ) (4.27 ) There have been no transactions involving ordinary shares or potential ordinary shares that would significantly change the number of ordinary shares or potential ordinary shares outstanding between the reporting date and the date of completion of this financial report. Diluted earnings per share is calculated as net loss divided by the weighted average number of ordinary shares and dilutive potential ordinary shares. Options granted under the Long Term Incentive (LTIP) and Non‑Executive Director Share and Option (NED Plan) plans would generally be included in the calculation due to the conditions of the issuance being satisfied. As the Group is in a loss position, the options are anti‑dilutive and, accordingly, the basic loss per share is the same as the diluted loss per share. A total number of 22,988,000 options/rights outstanding June 30, 2022 and 925,000 ADS options were anti‑dilutive and were therefore excluded from the weighted average number of ordinary shares for the purpose of diluted earnings per share. These options related to the following option plans. Fully paid ordinary shares have no par value, cary one vote per share and carry the riht to dividends. No cash dividends have been paid, delared or recommended during or since the end of the financial year by the Company. 2022 2021 2020 NED Plan 14,000,000 10,000,000 6,000,000 LTIP 7,388,000 6,644,000 12,044,000 21,388,000 16,644,000 18,044,000 2022 2021 2020 NED Plan — — — LTIP 1,600,000 — — 1,600,000 — — 2022 2021 2020 NED Plan — — — LTIP 925,000 — — 925,000 — — As of June 30, 2022, 12,857,589 outstanding options and rights were exercisable as of that date (2021: 11,394,000 2020: 18,044,000). As at June 30, 2022 nil outstanding ADS options were exercisable as of that date (2021: nil, 2020: nil).

Current Assets - Cash and Cash

Current Assets - Cash and Cash Equivalents	12 Months Ended
	Jun. 30, 2022
Current Assets Cash And Cash Equivalents [Abstract]
Current Assets - Cash and Cash Equivalents	Note 15. Current Assets – Cash and Cash Equivalents June 30, 2022 June 30, 2021 US$ US$ Cash at bank and in hand 11,853,883 15,538,510 Short-term deposits 32,777,410 102,654,667 Total cash and cash equivalents 44,631,293 118,193,177 Cash at bank earns interest at floating rates based on daily bank deposit rates. The carrying amounts of cash and cash equivalents represent fair value. Short term‑deposits are with two major Australian banks and are made for varying periods of between 30 and 90 days, depending on the immediate cash requirements of the Group, and earn interest at a fixed rate for the respective short‑term deposit periods. At year end, the average rate was 0.43% (2021: 0.24%, 2020: 1.01%). ,.

Current Assets - Receivables

Current Assets - Receivables	12 Months Ended
	Jun. 30, 2022
Current Assets Receivables [Abstract]
Current Assets - Receivables	Note 16. Current Assets - Receivables June 30, 2022 June 30, 2021 US$ US$ Interest receivable 56,952 37,905 GST receivable 1 157,060 136,239 Other receivable 1 43,656 391,142 Total current receivables 257,668 565,286 1 The GST and other receivables are non‑interest bearing. There were no receivables with a material expected credit loss recorded during the financial year (2021: nil).

Current Assets - Prepayments

Current Assets - Prepayments	12 Months Ended
	Jun. 30, 2022
Current Prepayments [Abstract]
Current Assets - Prepayments	Note 17. Current Assets - Prepayments June 30, 2022 June 30, 2021 US$ US$ R&D Contract Research Organization 7,428,599 12,551,398 Insurance 1,086,847 1,820,059 Other prepayments 204,749 14,698 Total current prepayments 8,720,195 14,386,155 The R&D Contract Research Organization prepayment consists of prepayments on the Phase 3 clinical trial for OPT‑302 in order to secure sites across the world and start patient recruitment. These prepayments covered the initial startup of the Phase 3 clinical trials and other key milestones and are expected to be consumed within the next 12 months. The Insurance amount relates to specific Phase 3 Clinical trial insurance in place for various sites around the world covering periods to 2024. The non‑current portion of the prepayments are recorded as non‑current assets. Refer Note 18.

Non-Current Assets - Prepayment

Non-Current Assets - Prepayments	12 Months Ended
	Jun. 30, 2022
Disclosure Of Noncurrent Assets Prepayments [Abstract]
Non-Current Assets - Prepayments	Note 18. Non-Current Assets - Prepayments June 30, 2022 June 30, 2021 US$ US$ Insurance 110,295 174,541 Total non-current prepayments 110,295 174,541 The non‑current prepayment amount relates to specific Phase 3 Clinical trial insurance in place for various sites around the world covering periods to 2024.

Current Liabilities _ Payables

Current Liabilities – Payables	12 Months Ended
	Jun. 30, 2022
Current Liabilities Payables [Abstract]
Current Liabilities – Payables	Note 19. Current Liabilities – Payables June 30, 2022 June 30, 2021 US$ US$ Accounts Payable (unsecured) 1 11,402,164 2,417,719 Payroll related tax liability 43,334 83,799 Total current payables 11,445,498 2,501,518 1 Accounts Payable are non‑interest bearing and are normally settled on 30 day terms.

Current Liabilities - Provision

Current Liabilities - Provisions	12 Months Ended
	Jun. 30, 2022
Current Provisions [Abstract]
Current Liabilities - Provisions	Note 20. Current Liabilities - Provisions June 30, 2022 June 30, 2021 US$ US$ Annual leave 383,220 289,043 Long service leave 212,983 202,959 Total current provisions 596,203 492,002

Non-Current Liabilities - Provi

Non-Current Liabilities - Provisions	12 Months Ended
	Jun. 30, 2022
Noncurrent Provisions [Abstract]
Non-Current Liabilities - Provisions	Note 21. Non-Current Liabilities - Provisions June 30, 2022 June 30, 2021 US$ US$ Long service leave 27,974 16,915 Total non-current provisions 27,974 16,915

Contributed Equity

Contributed Equity	12 Months Ended
	Jun. 30, 2022
Contributed Equity [Abstract]
Contributed Equity	Note 22. Contributed Equity June 30, 2022 June 30, 2021 June 30, 2020 US$ US$ US$ (a) Ordinary shares Issued and fully paid at June 30 235,277,217 234,147,526 113,852,364 Movement in ordinary shares: Opening balance 234,147,526 113,852,364 80,331,016 Issue of shares on exercise of options granted under the LTIP 1,129,691 3,271,542 284,828 Issue of shares on Nasdaq listing net of issuance cost $10,126,959 — 105,477,591 — Issue of shares on exercise of pre-funded warrants net of issuance cost $1,099,412 — 11,546,029 — Transfer from option reserve — — — 235,277,217 234,147,526 113,852,364 Ordinary shares on issue: No: No: No: Opening balance 351,003,541 269,157,769 249,414,839 Issue of shares on exercise of options granted under the LTIP 1,149,001 5,845,804 — Issues of shares on Nasdaq listing — 68,506,400 — Issue of share on exercise of pre-funded warrants — 7,493,568 — 352,152,542 351,003,541 269,157,769 Fully paid ordinary shares have no par value, carry one vote per share and carry the right to dividends. No cash dividends have been paid, declared or recommended during or since the end of the financial year by the Company. We have not declared or paid any dividends on our ordinary shares. We intend to retain any earnings for use in our business and do not currently intend to pay cash dividends on our ordinary shares. Dividends, if any, on our outstanding ordianry shares will be declared by and subject to the discretion of our board of directors, and subject to Australian law Issued capital at June 30, 2022 amounted to US$235,277,217 (352,152,542 fully paid ordinary shares) net of share issue costs and tax. During the year ended June 30, 2021 the Company issued 68,506,400 ordinary shares on Nasdaq listing for net proceeds of US$105,477,591 as well as issued 7,493,568 pre‑funded warrants for net proceeds of US$11,546,029. At June 30, 2022, the company had 7,500,000 Non-Executive Director options that remain unexercised with expiry of November 2022 for 3,000,000 options, October 2024 for 2,000,000 options, January 2025 for 1,500,000 options, October 2025 for 500,000 options and April 2026 for 500,000 options. At June 30, 2021, the company had 6,750,000 Non‑Executive Director options that remain unexercised with expiry of November 2022 for 3,000,000 options, October 2024 for 1,000,000 options and January 2022 for 750,000 options. Options granted to directors and employees The company has two share‑based payment schemes, the Long-Term Incentive Plan (LTIP) and Non‑Executive Director Share and Option Plan. Options to subscribe for the Company’s shares have been granted under these plans to certain employees and directors. The company granted 8,400,000 options/rights and 925,000 American Depository Shares (ADS) options over ordinary shares under these plans during the year ended June 30, 2022 (Note 30). These options/rights had a weighted average fair value at grant date of $0.781 per options and the ADS options had a weighted average fair value at grant date of $6.75. During the year ended June 30, 2022, 2,056,000 options granted under the LTIP and NED Plan were exercised for $ 1,129,691 ($ 257,175 for cash and $ 872,516 via cashless conversion). The company granted 7,000,000 options over ordinary shares under these plans during the year ended June 30, 2021 (note 30). These options had a weighted average fair value at their grant date of US$1.03 per option. During June 30, 2021 8,400,000 options granted under the LTIP and NED Plan were exercised for US$3,271,542. No options were granted under the Plans during the year ended June 30, 2020. June 30, 2022 June 30, 2021 June 30, 2020 US$ US$ US$ (b) Pre-funded warrants Movement in pre-funded warrants: Opening balance — — — Issue of pre-funded warrants in a US initial public offering — 12,645,441 — Cost of issue of pre-funded warrants — (1,099,412 ) — Issue of shares on exercise of pre-funded warrants — (11,546,029 ) — — — — Pre-funded warrants on issue: No: No: No: Opening balance — — — Issue of pre-funded warrants in a US Initial public offering — 7,493,600 — Exercise of pre-funded warrants — (7,493,568 ) — Forfeiture on exercise — (32 ) — — — — The Company issued 7,493,600 pre‑funded warrants for US$11,546,029 net of issue costs in respect of the US initial public offering in fiscal year 2021. The pre‑funded warrants were unquoted, having no voting or dividend rights and are exercisable to ADS’s at an exercise price of US$0.00001 per pre‑funded warrant on a one for one basis with no expiry date. On June 21, 2021 all pre-funded warrants were exercised, converting to ADS’s. (c) Capital management The Group is not subject to any externally imposed capital requirements. When managing share capital, management’s objective is to ensure the entity continues as a going concern as well as to provide benefits to shareholders and for other stakeholders. In order to maintain or achieve an appropriate capital structure, the Company may issue new shares or reduce its share capital, subject to the provisions of the Company’s constitution. The Group only commits to significant R&D expenditure when this is fully funded either by existing funds or further equity raises.

Accumulated Losses and Reserves

Accumulated Losses and Reserves	12 Months Ended
	Jun. 30, 2022
Disclosure Of Reserves Within Equity [Abstract]
Accumulated Losses and Reserves	Note 23. Accumulated Losses and Reserves 2022 2021 2020 US$ US$ US$ (a) Movements in accumulated losses were as follows: Balance at July 1 (124,123,982 ) (78,779,486 ) (67,656,287 ) Net loss for the year (92,817,371 ) (45,344,496 ) (11,123,199 ) Balance at June 30 (216,941,353 ) (124,123,982 ) (78,779,486 ) (b) Reserves Fair value of Investments reserve (i) 1,085,411 1,085,411 551,409 Share-based payments reserve (ii) 8,466,706 4,087,650 3,116,080 Foreign translation reserve (iii) 20,089,163 20,089,163 5,827,605 Total reserves 29,641,280 25,262,224 9,495,094 (i) Movement in fair value of investments reserve: Opening balance 1,085,411 551,409 517,700 Fair value on gains on investments in financial assets — 469,767 41,098 Exchange on translation — 64,235 (7,389 ) Closing balance 1,085,411 1,085,411 551,409 (ii) Movement in share-based payments reserve: Opening balance 4,087,650 3,116,080 2,401,769 Share-based payments expense 5,251,572 3,897,638 732,688 Exercise of options (872,516 ) (3,271,542 ) (284,828 ) Exchange on translation — 345,474 266,451 Closing balance 8,466,706 4,087,650 3,116,080 (iii) Movement in foreign translation reserve: Opening balance 20,089,163 5,827,605 6,257,941 (Gains)/loss on translation — 14,261,558 (430,336 ) Closing balance 20,089,163 20,089,163 5,827,605 (c) Nature and purpose of reserves Fair value of investments reserve This reserve records fair value changes on listed investments. Share‑based payment reserve This reserve is used to record the value of equity benefits provided to executives and employees as part of their remuneration. Foreign currency translation reserve The reserve records the value of foreign currency movements on translation of financial statements from A$ to US$

Financial Risk Management Objec

Financial Risk Management Objectives and Policies	12 Months Ended
	Jun. 30, 2022
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Abstract]
Financial Risk Management Objectives and Policies	Note 24. Financial Risk Management Objectives and Policies The Group’s principal financial assets comprise cash, receivables, short‑term deposits and investments in listed shares. The Group manages its exposure to key financial risks, including interest rate and currency risk in accordance with the Group’s financial risk management practices. The objective is to support the delivery of the Group’s financial targets whilst protecting future financial security. The Group’s other various financial assets and liabilities, such as receivables and payables, arise directly from its operations. The main risks arising from the Group’s financial assets and liabilities are interest rate risk, foreign currency risk, equity securities price risk and liquidity risk. The Group uses different methods to measure and manage different types of risks to which it is exposed. These include monitoring levels of exposure to interest rate and foreign exchange risk and assessments of market forecasts for interest rates and foreign exchange rates. Liquidity risk is monitored through future rolling cash flow forecasts. The board reviews and agrees policies for managing each of these risks as summarized below. Risk exposures and responses The Group has investigated the main financial risk areas which could impact on its financial assets and determined the impact on post tax (losses) or profits for a range of sensitivities. These can be seen in the post-tax (loss)/profit impact for each risk area. For each risk area, the equity impact relates solely to reserve movements and excludes movements in accumulated losses as the impact of these can be seen within the post-tax (loss)/profit impact. (i) Interest rate risk The Group’s exposure to market interest rates relates primarily to the short‑term deposits. The deposits are held with two of Australia’s largest banks. The objective of managing interest rate risk is to minimize the Group’s exposure to fluctuations in interest rates that might impact its interest income and cash flow. To manage interest rate risk, the Group invests the majority of its cash in short‑term deposits for varying periods of between 30 days and 90 days, depending on the short and long‑term cash requirements of the Group which is determined based on the Group’s cash flow forecast. This consideration also takes into account the costs associated with recalling a term deposit should early access to cash and cash equivalents be required. Cash is not locked into long‑term deposits at fixed rates so as to mitigate the risk of earning interest below the current floating rate. The Group does not have any borrowings (2021: nil). The following sensitivity analysis (an annual effect) is based on the interest rate risk exposures at June 30, 2022 and 2021. At June 30, 2022, 2021 and 2020, if interest rates moved, with all variables held constant, post tax (loss)/profit and equity would have been affected as illustrated in the following table: Post tax (loss)/profit impact 2022 2021 2020 US$ US$ US$ Judgments of reasonably possible movements +0.50% (50 basis points) (2021:+0.50%) 114,859 359,442 137,676 -0.50% (50 basis points) (2021:-0.50%) (114,859 ) (359,442 ) (137,676 ) The post-tax figures include an offset for unrecognized tax losses (bringing the tax effect to nil) for the year ended June 30, 2022 (2021: nil ,2020: nil). Significant assumptions used in the interest rate sensitivity analysis include: • The reasonably possible movement of 0.5% was calculated by taking the interest rates as of balance date, moving these by plus and minus 0.5% and then re‑calculating the interest on term deposits with the ‘new‑interest‑rate’. • The net exposure at balance date is representative of what the Group was and is expecting to be exposed to in the next twelve months from balance date . (ii) Foreign currency risk As a result of services provided by non‑related entities in Australia, Canada, United Kingdom and Europe, part of the Group’s monetary assets and liabilities are affected by movements in the exchange rate. The Group does not enter into any hedging transactions. At the reporting date, the Group has the following exposure to foreign currencies. : Consolidated 2022 AUD EURO GBP CAD Financial assets Cash 26,697,582 — — — Receivables 7,827,565 — — — Financial liabilities Payables (1,213,469 ) (435,698 ) (3,037 ) (13,419 ) Other financial liabilities — — — — Net exposure 33,311,678 (435,698 ) (3,037 ) (13,419 ) Consolidated 2021 AUD EURO GBP CAD Financial assets Cash 35,646,457 — — — Receivables 5,513,541 — — — Financial liabilities Payables (1,276,164 ) (41,872 ) — (1,290 ) Other financial liabilities — — — — Net exposure 39,883,834 (41,872 ) — (1,290 ) The following sensitivity is based on the foreign currency risk exposures in existence at June 30, 2022 and 2021. At June 30, 2022 and 2021, had the United States dollar (2020: Australian dollar) moved with all other variables held constant, post tax (loss) profit and equity would have been affected as illustrated in the table below: Post tax (loss)/profit impact 2022 2021 2020 US$ US$ US$ Judgments of reasonably possible movements Consolidated AUD/USD +10% (2021:+10%) (2,119,834 ) (2,538,062 ) 219,569 AUD/USD -10% (2021:-10%) 2,590,908 3,102,076 (268,361 ) The reasonably possible movements at June 30, 2022 are lower than at June 30, 2021 and higher than June 30, 2020 due mainly to net exposure to the Australian dollar due cash at bank deposits. There was minimum or insignificant exposure to the GBP, Euro and CAD during the current financial year. Significant assumptions used in the foreign currency exposure sensitivity analysis include: (i) The reasonably possible movement of 10% was calculated by taking the currency spot rates as of balance date, moving these by 10% and then re‑converting the currencies into US with the ‘new‑spot‑rate’. (ii) The net exposure at balance date is representative of what the Group was and is expecting to be exposed to in the next twelve months from balance date. (iii) Management believes the balance date risk exposures are representative of the risk exposure inherent in the financial instruments. (iii) Credit risk Credit risk is associated with those financial assets of the Group which comprise cash and cash equivalents, receivables and listed investments. The Group’s exposure to credit risk arises from default of the counter party, with a maximum exposure equal to the carrying amount of these investments. Credit risk is considered minimal as the Group transacts with reputable recognized Australian banks. (iv) Liquidity risk Liquidity risk arises from the financial liabilities of the Group and the Group’s subsequent ability to meet their obligations to repay their financial liabilities as and when they fall due. The Group manages liquidity risk by maintaining adequate reserves and by monitoring forecast and actual cash flows and by matching the maturity profiles of financial assets and liabilities. The financial liabilities of the Group relate to trade payables that are all expected to be paid within 12 months. With the funding agreement that was entered on August 12, 2022 the Group may incur a total payment equal to approximately four times the funding provided, consisting of seven payments, with the first payment due shortly after Regulatory Approval and the remaining six payments payable over a six-year period thereafter, and variable payments equal to 7% of net sales of OPT-302 for the treatment of wet AMD for each calendar quarter. Refer to Subsequent event Note 31 for further information on the transaction. The Group’s objective is to maintain an appropriate cash asset balance to fund its operations.

Related Party Disclosures

Related Party Disclosures	12 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Related Party Disclosures	Note 25. Related Party Disclosures (a) Subsidiarie s The consolidated financial statements include the financial statements of Opthea Limited and its subsidiaries in the following table: Parent entity % equity interest June 30, 2022 June 30, 2021 June 30, 2020 % % % Vegenics Pty Ltd 1 100 100 100 Opthea US Inc 2 100 100 — (1) Opthea Limited is the ultimate parent entity. Vegenics Pty Ltd is incorporated in Australia and has the same financial year as Opthea Limited. (2) Opthea Limited is the ultimate parent entity. Opthea US Inc was incorporated in the United States in May 2021 and has the same financial year as Opthea Limited. (b) Transactions with related parties Balances and transactions between the Company and its subsidiaries, a related party of the Company, have been eliminated on consolidation and are not disclosed in this note.

Commitments

Commitments	12 Months Ended
	Jun. 30, 2022
Commitments [Abstract]
Commitments	Note 26. Commitments (i) Research projects and license commitments The Group has entered into research and development contracts and intellectual property license agreements with various third parties in respect of services for the Phase 3 wet AMD clinical trial and the clinical grade manufacture of OPT‑302. Expenditure commitments relating to these, and intellectual property license agreements are payable as follows: 2022 2021 2020 US$ US$ US$ Within one year 39,947,900 26,377,778 7,660,325 After one year but not more than five years 8,007,202 2,347,060 293,815 After more than five years 45,000 — 75,000 48,000,102 28,724,838 8,029,140 Currently, the biggest Research contract has a 60 day termination clause and all commitments have been limited to a six month commitment. (ii) Commercial commitments 2022 2021 2020 US$ US$ US$ Within one year 507,874 — — After one year but not more than five years — — — After more than five years — — — 507,874 — — Currently, the biggest contract has a 60 day termination clause and all commitments have been limited to a twelve month commitment.

Contingencies

Contingencies	12 Months Ended
	Jun. 30, 2022
Disclosure Of Contingent Liabilities [Abstract]
Contingencies	Note 27. Contingencies The Group is party to various research agreements with respect to which a commitment to pay is contingent on the achievement of research milestones. Assuming all milestones are achieved within the time‑frames stipulated in the contracts, those which could become payable in less than one year total US$nil (2021: US$nil) and those which could become payable in more than one year total US$11,512,675 (2020: US$11,548,205). Under these license/collaboration agreements, payments are to be made only if certain research and clinical development milestones are achieved and royalties may become payable on any eventual sales of products developed under these agreements. The group had a bank guarantee outstanding at June 30, 2022 in respect of a rental deposit for its office premises of US$39,478 (2021: US$43,000).

Cash Flow Statements Reconcilia

Cash Flow Statements Reconciliation	12 Months Ended
	Jun. 30, 2022
Cash Flow Statement Reconciliation [Abstract]
Cash Flow Statements Reconciliation	Note 28 Cash Flow Statements Reconciliation 2022 2021 2020 US$ US$ US$ (a) Reconciliation to cash at the end of the year Cash at bank and in hand (note 15) 44,631,293 118,193,177 42,650,858 44,631,293 118,193,177 42,650,858 (b) Reconciliation of net loss after tax to net cash flows from operations Net loss for the year (92,817,371 ) (45,344,496 ) (11,123,199 ) Adjustments for: Income tax benefit recognized in profit or loss (6,299,286 ) (4,938,846 ) (5,708,767 ) Net loss of disposal of non-current assets 169 — — Depreciation of non-current assets 11,917 15,012 14,926 Depreciation of right-of-use assets 66,465 91,656 81,611 Share-based payments expense 5,251,572 3,897,638 732,688 Net exchange differences 2,813,993 11,011,961 265,989 1,844,830 10,077,421 (4,613,553 ) Changes in: Payables 8,511,607 (1,552,443 ) (125,492 ) Receivables 307,618 (369,712 ) 12,127 Prepayments 5,730,207 (14,231,546 ) (30,994 ) Provisions 115,259 40,510 72,794 Net cash flows used in operating activities before tax (76,307,850 ) (51,380,266 ) (15,808,317 ) R&D tax incentive received 4,972,898 5,834,099 10,118,697 Net cash flows used in operating activities (71,334,952 ) (45,546,167 ) (5,689,620 ) 2022 2021 2020 US$ US$ US$ (c) Reconciliation of borrowings arising from financing activities Balance at July 1 93,852 167,460 — Non-cash addition 251,189 Payment of lease liabilities (85,578 ) (87,373 ) (66,781 ) Exchange on translation (8,274 ) 13,765 (16,948 ) Balance at June 30 — 93,852 167,460 1 Non‑cash addition represents the new lease on the Company’s office premises in Melbourne, Australia that commenced on July 15, 2019 and is renewable July 15, 2022.

Key Management Personnel

Key Management Personnel	12 Months Ended
	Jun. 30, 2022
Disclosure Of Transactions Between Related Parties [Abstract]
Key Management Personnel	Note 29. Key Management Personnel (a) Compensation of Key Management Personnel 2022 2021 2020 US$ US$ US$ Short-term employee benefits 1,555,658 1,099,081 680,954 Post-employment benefits 56,105 79,550 64,632 Share-based payments expense 4,664,767 3,897,638 420,751 6,276,530 5,076,269 1,166,337 (b) Other transactions and balances with director and key management personnel and their related parties There were no director and key management personnel related party transactions during the current or prior financial year.

Share-Based Payments

Share-Based Payments	12 Months Ended
	Jun. 30, 2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract]
Share-Based Payments	Note 30. Share-Based Payments (a) Recognized share-based payment expenses The expense recognized for share‑based payments during the year is shown in the table below: 2022 2021 2020 US$ US$ US$ Expense arising from equity-settled share-based payment transactions: Director and employee services received 5,251,572 3,897,638 732,688 5,251,572 3,897,638 732,688 (b) Non‑executive director and employee share option plans During the 2015 financial year, the Group introduced an ownership‑based compensation scheme for non‑executive directors, executives and senior employees, the Long-Term Incentive Plan (LTIP) and Non‑Executive Directors Share and Option Plan (NED Plan). In accordance with the terms of the plans, as approved by shareholders at the 2014 annual general meeting, eligible non‑executive directors, executives and senior employees with the Group may be granted options to purchase ordinary shares. Each employee share option converts into one ordinary share of Opthea Limited on exercise. No amounts are paid or payable by the recipient on receipt of the option. The options carry neither rights to dividends nor voting rights and are not transferable. Options may be exercised at any time from the date of vesting to the date of their expiry. The number of options granted is subject to approval by the board and rewards executives and senior employees to the extent of the Group’s and the individual’s achievement judged against both qualitative and quantitative criteria as determined by the board on a case by case basis. The vesting condition of options granted under the LTIP and NED Plan is continuous service. Options/Rights services Grant date Grant date fair value US$ Exercise price US$ Expiry date Vesting date LTIP - director FY2016 March 7,2016 0.140 0.360 March 7, 2021 June 30, 2016 LTIP - director FY2019 November 29, 2018 0.150 0.625 November 29, 2022 November 29, 2019 LTIP - employees FY2016 March 31, 2016 0.180 0.370 January 1, 2022 January 1, 2017 LTIP - employees FY2018 August 23, 2017 0.260 0.920 January 1, 2023 June 30, 2018 LTIP - employees FY2019 April 3, 2019 0.180 0.608 April 3, 2023 April 3, 2021 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 October 19, 2021 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 October 19, 2022 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 October 19, 2023 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 January 31, 2023 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 November 30, 2022 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 April 30, 2023 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 April 30, 2023 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 September 30, 2024 LTIP - employees FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2021 LTIP - employees FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2022 LTIP - employees FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2023 LTIP - employees FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2024 LTIP - employees FY2022 June 6, 2022 0.553 1.460 June 5, 2032 June 6, 2022 LTIP - employees FY2022 June 6, 2022 0.553 1.460 June 5, 2032 June 6, 2023 LTIP - employees FY2022 June 6, 2022 0.553 1.460 June 5, 2032 June 6, 2024 LTIP - employees FY2022 June 6, 2022 0.553 1.460 June 5, 2032 June 6, 2025 NED Plan FY2016 March 7,2016 0.140 0.360 March 7, 2021 June 30, 2016 NED Plan FY2019 November 29, 2018 0.150 0.625 November 29, 2022 November 29, 2019 NED Plan FY2021 October 12, 2020 1.050 3.240 October 11, 2024 October 12, 2020 NED Plan FY2021 October 12, 2020 1.050 3.240 October 11, 2024 October 12, 2021 NED Plan FY2021 October 12, 2020 1.050 3.240 October 11, 2024 October 12, 2022 NED Plan FY2021 October 12, 2020 1.050 3.240 October 11, 2024 October 12, 2023 NED Plan FY2021 October 12, 2020 1.240 2.160 October 11, 2024 October 12, 2020 NED Plan FY2021 October 12, 2020 1.240 2.160 October 11, 2024 October 12, 2021 NED Plan FY2021 October 12, 2020 1.240 2.160 October 11, 2024 October 12, 2022 NED Plan FY2021 October 12, 2020 1.240 2.160 October 11, 2024 October 12, 2023 NED Plan FY2021 January 19, 2021 0.880 1.560 January 18, 2025 January 19, 2021 NED Plan FY2021 January 19, 2021 0.880 1.560 January 18, 2025 January 19, 2022 NED Plan FY2021 January 19, 2021 0.880 1.560 January 18, 2025 January 19, 2023 NED Plan FY2021 January 19, 2021 0.880 1.560 January 18, 2025 January 19, 2024 NED Plan FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2021 NED Plan FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2022 NED Plan FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2023 NED Plan FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2024 NED Plan FY2022 April 21, 2022 0.397 0.755 April 20, 2026 April 21, 2022 NED Plan FY2022 April 21, 2022 0.397 0.755 April 20, 2026 April 21, 2023 NED Plan FY2022 April 21, 2022 0.397 0.755 April 20, 2026 April 21, 2024 NED Plan FY2022 April 21, 2022 0.397 0.755 April 20, 2026 April 21, 2025 There has been no alteration of the terms and conditions of the above share‑based payment arrangements since the grant date. (c) Fair value of share options granted Where relevant, the expected life used in the model has been adjusted based on management’s best estimate for the effects of non‑transferability, exercise restrictions (including the probability of meeting conditions attached to the option), and behavioral considerations. Expected volatility is based on the historical share price volatility over the past 4 or 5 years. Options/Rights services Grant date share price US$ Exercise price US$ Fair value per option US$ Expected volatility Option life Dividend yield Risk free interest rate Model used LTIP - director FY2016 0.280 0.360 0.140 65.00 % 5 years 0 % 2.09 % Binomial LTIP - director FY2019 0.420 0.625 0.150 58.00 % 4 years 0 % 2.04 % Binomial LTIP - employees FY2016 0.540 0.370 0.180 65.00 % 5 years 0 % 2.09 % Binomial LTIP - employees FY2018 0.340 0.920 0.260 66.00 % 5 years 0 % 2.09 % Binomial LTIP - employees FY2019 0.480 0.608 0.180 57.00 % 4 years 0 % 2.04 % Binomial LTIP - employees FY2022 0.955 0.948 0.526 74.78 % 4 years 0 % 0.25 % Binomial LTIP - employees FY2022 0.955 nil 0.955 n/a 10 years 0 % n/a n/a LTIP - employees FY2022 0.901 1.460 0.553 75.00 % 6.5 years 0 % 3.40 % Binomial NED Plan FY2016 0.280 0.360 0.140 65.00 % 5 years 0 % 2.09 % Binomial NED Plan FY2019 0.420 0.625 0.150 58.00 % 4 years 0 % 2.04 % Binomial NED Plan FY2021 2.190 2.160 1.240 77.25 % 4 years 0 % 0.25 % Binomial NED Play FY2021 2.190 3.240 1.050 77.25 % 4 years 0 % 0.25 % Binomial NED Plan FY2021 1.560 1.560 0.880 77.01 % 4 years 0 % 0.25 % Binomial NED Plan FY2022 0.955 0.945 0.526 74.78 % 4 years 0 % 0.25 % Binomial NED Plan FY2022 0.741 0.755 0.397 75.00 % 3.5 years 0 % 2.70 % Binomial Fair value of ADS options granted Where relevant, the expected life used in the model has been adjusted based on management’s best estimate for the effects of non‑transferability, exercise restrictions (including the probability of meeting conditions attached to the option), and behavioral considerations. Expected volatility is based on the historical share price volatility over the past 4 or 5 years. ADS Options Grant date share price US$ Exercise price US$ Fair value per ADS option US$ Expected volatility ADS Option life Dividend yield Risk free interest rate Model used LTIP - employee 2022 7.240 7.625 4.970 75.00 % 7 years 0 % 1.40 % Binomial LTIP - employee 2022 7.500 7.515 5.228 75.00 % 7 years 0 % 1.70 % Binomial LTIP - employee 2022 5.925 6.009 4.116 75.00 % 7 years 0 % 1.70 % Binomial LTIP - employee 2022 5.915 6.090 4.171 75.00 % 7 years 0 % 2.90 % Binomial LTIP - employee 2022 7.000 7.116 4.953 75.00 % 7 years 0 % 2.90 % Binomial LTIP - employee 2022 7.309 7.445 5.175 75.00 % 7 years 0 % 3.00 % Binomial LTIP - employee 2022 5.500 5.522 3.886 75.00 % 7 years 0 % 3.40 % Binomial (d) Movements in share options during the year The following reconciles the share/rights options outstanding at the beginning and end of the year: 2022 2021 2020 Number of options and rights Weighted average exercise price US$ Number of options and rights Weighted average exercise price US$ Number of options and rights Weighted average exercise price US$ Balance at beginning of year 16,644,000 1.28 18,044,000 0.50 18,919,000 0.50 Granted during the year: To employees and directors under the LTIP and NED Plan 8,400,000 0.77 7,000,000 2.21 — — Exercised during the year (2,056,000 ) 0.55 (8,400,000 ) 0.36 (875,000 ) 0.37 Expired during the year — — — — — — Balance at end of the year 22,988,000 1.16 16,644,000 1.28 18,044,000 0.50 Exercisable at end of year 12,857,589 0.97 11,394,000 0.86 18,044,000 0.50 The share options outstanding at the end of the year had a weighted average exercise price of US $0.97 (2021: US$0.86, 2020: US$0.50) and a weighted average remaining contractual life of 567 days (2021: 628 days, 2020: 626 days). Movements in ADS options during the year The following reconciles the ADS options outstanding at the beginning and end of the year: 2022 2021 2020 Number of options and rights Weighted average exercise price US$ Number of options and rights Weighted average exercise price US$ Number of options and rights Weighted average exercise price US$ Balance at beginning of year — — — — — — Granted during the year: To employees and directors under the LTIP and NED Plan 925,000 6.75 — — — — Exercised during the year — — — — — — Expired during the year — — — — — — Balance at end of the year 925,000 6.75 — — — — Exercisable at end of year — — — — — —

Events After the Balance Sheet

Events After the Balance Sheet Date	12 Months Ended
	Jun. 30, 2022
Disclosure Of Nonadjusting Events After Reporting Period [Abstract]
Events After the Balance Sheet Date	Note 31. Events After the Balance Sheet Date DEVELOPMENT AGREEMENT AND PIPE FUNDING On August 12, 2022 (the “Effective Date”), Opthea Limited (“Opthea”) entered into a Development Funding Agreement (the “Agreement”) with Ocelot SPV LP (“Investor”), an affiliate of Carlyle and Abingworth, working together with Carlyle and Abingworth’s recently formed development company Launch Therapeutics, pursuant to which Investor agrees to provide funding to Opthea to support its development of OPT-302 for the treatment of wet (neovascular) age-related macular degeneration (“wet AMD”). Pursuant to the Agreement, Investor has committed to provide Opthea US$120 million in funding which may be increased up to US$170 million at Investor’s option, of which US$50 million will be paid shortly after Opthea receives the proceeds from the first tranche of the PIPE (as defined below), with the remainder being funded in two additional tranches to be paid on December 31, 2022 and December 31, 2023, respectively. Pursuant to the Agreement, Opthea will be required to use commercially reasonable efforts to develop OPT-302 for the treatment of wet AMD in accordance with the Agreement, including pursuant to certain development timelines set forth therein. In return, Opthea will pay to Investor (1) upon the first to occur of regulatory approval of OPT-302 for the treatment of wet AMD in the United States, United Kingdom or European Union (“Regulatory Approval”), fixed payments equal to a total of approximately two times the funding provided, consisting of seven payments, with the first payment due shortly after Regulatory Approval and the remaining six payments payable over a six-year period thereafter, and (2) variable payments equal to 7 % of net sales of OPT-302 for the treatment of wet AMD for each calendar quarter. At the time that Investor receives an aggregate of four times the funding provided (US$ 680 million if Investor funds the full US$ 170 million under the Agreement) (the “Cap”), Opthea’s payment obligations under the Agreement will be fully satisfied. Opthea has the option to satisfy its payment obligations to Investor upon Regulatory Approval or a change of control of Opthea by paying an amount equal to the present value of the remaining payments payable to Investor subject to a mid-single-digit discount rate. Opthea also has an option to buy out the remaining payments at any time by paying an amount equal to the remaining payments due subject to a proposed discount rate, which Investor may accept or reject. Upon a change of control of Opthea, an acceleration payment of a specified multiple of the funding provided is payable, net of payments already made to Investor and creditable against future payments to Investor. Opthea will grant Investor a security interest in all of its assets (other than intellectual property not related to OPT-302). The security interest will terminate when Investor receives payments and/or change of control acceleration payments equal to two times the funding provided or upon certain terminations of the Agreement (the “Release Date”). The Agreement also includes customary representations and warranties and covenants, including certain negative covenants regarding limitations on incurrence of indebtedness, liens, investments, restricted payments, sales of assets, and royalty sales. The negative covenants will terminate upon the Release Date. The Agreement terminates upon the payment of all payments owing to Investor, unless earlier terminated by Investor if: • Opthea fails to comply with certain covenants and agreements set forth in the Agreement, including failure to make required payments or develop OPT-302 as set forth in the Agreement; • Opthea suffers a material adverse event; • there is a material adverse patent impact on Opthea’s intellectual property covering OPT-302; • there are certain irresolvable disagreements within the joint steering committee overseeing Opthea’s development of OPT-302; • the security interests of Opthea are invalidated or terminated other than as set forth in the Agreement; or • any Phase 3 clinical trial of OPT-302 is completed or terminated and (1) the primary endpoint is not met or (2) Investor reasonably determines that the results of any such trial do not support regulatory approval. The Agreement may also be earlier terminated by Opthea if Investor fails to fund as provided in the Agreement. The Agreement may be terminated by either party (i) if the other party materially breaches the Agreement (“Material Breach”), (ii) if OPT-302 fails to receive regulatory approval in the United States or European Union, (iii) upon the bankruptcy of the other party, (iv) if a serious safety concern arises in an OPT-302 clinical trial or (vi) upon a change of control of Opthea. In certain instances, upon the termination of the Agreement, Opthea will be obligated to pay Investor a multiple of the amounts paid to Opthea under the Agreement, including specifically, • up to the Cap in the event that Investor terminates the agreement due to (w) failure by Opthea to comply with certain covenants and agreements set forth in the Agreement, including failure to make required payments or develop OPT-302 as set forth in the Agreement, (x) the bankruptcy of Opthea, (y) a safety concern resulting from gross negligence on the part of Opthea or due to a safety concern that was material on the Effective Date and the material data showing such safety concern was not publicly known, disclosed to Investor, or in the diligence room made available to Investor or (z) the security interests of Investor being invalidated or terminated other than as set forth in the Agreement; • several multiples of such amounts in the event the Agreement is terminated due to Material Breach by Opthea; and • a small multiple of such amounts in the event of certain irresolvable disagreements within the executive review committee overseeing Opthea’s development of OPT-302. In addition, if following certain events of termination of the Agreement, Opthea continues to develop OPT-302 for the treatment of wet AMD and obtains Regulatory Approval, it will make the payments to Investor as if the Agreement had not been terminated, less any payments made upon termination. The Agreement also provides that Opthea will use reasonable best efforts to complete a private placement of its ordinary shares or American Depositary Shares ("ADS’s") representing its ordinary shares (at a ratio of 8 ordinary shares per ADS) for gross proceeds of at least US$70 million, which Opthea expects will be satisfied through the PIPE (as described below). The Agreement also includes a minimum cash requirement, and Opthea may need to obtain additional funding to meet this requirement in the future, including prior to the expected readout of top-line results for its Phase 3 clinical trials. To the extent that Opthea raises additional capital through the sale of equity or convertible debt securities to meet this requirement, Opthea’s equity holders will be diluted. The foregoing description of the Agreement does not purport to be complete and is qualified in its entirety by the full text of the Agreement, a copy of which is filed as an exhibit to this Form 20-F for the fiscal year ended June 30, 2022. Concurrently with the execution of the Agreement, Opthea entered into binding commitments for the private placement of ordinary shares to be issued pursuant to Regulation S under, and Section 4(a)(2) of, the Securities Act of 1933, as amended (the “Securities Act”), as the case may be, for aggregate gross proceeds of approximately US$90 million (the “PIPE”) and a price per ordinary share of AU$1.15 (approximately US$0.81). The PIPE consists of two tranches. The first tranche was for AU$60.7 million (US$41.9 million), or 52.8 million ordinary shares, which amount represents the amount of new ordinary shares that Opthea was allowed to issue without obtaining shareholder approval under ASX Listing Rules. The first tranche was receipted on August 24, 2022. Opthea issued a Notice of Meeting to its Shareholders to convene a general meeting of shareholders which was held on September 26, 2022 where Opthea obtained shareholder approval to issue and consummate the second tranche, which will be for US$47.5 million, or 59 million shares which is expected to be received by September 30, 2022. In addition to the above, on September 26, 2022, Opthea announced the completion of the Share Purchase Plan which raised US$618 thousand (AU$940 thousand) or 817,824 ordinary shares. The Company is still assessing the accounting treatment of the above transactions. APPROVAL OF ADVANCED OVERSEAS FINDING CERTIFICATE On August 29, 2022, the Company obtained an Advanced Overseas Finding Certificate from AusIndustry for additional overseas research activities for OPT-302. This allows the company to claim a portion of the overseas costs incurred for OPT-302 to be included as part of this Research and Development tax incentive. This is a non-adjusting subsequent event. Besides the above-mentioned subsequent events, no matters or circumstances have arisen since the end of the reporting period, which significantly affected, or may significantly affect, the operations of the Group, the results of those operations, or the state of affairs of the Group in future financial years.

Summary of Accounting Policies

Summary of Accounting Policies (Policies)	12 Months Ended
	Jun. 30, 2022
Description Of Business And Summary Of Significant Accounting Policies [Abstract]
Basis of measurement	Basis of measurement The consolidated financial statements have been prepared on a historical cost basis, except for the investments classified as financial assets, which have been measured at fair value. All amounts are presented in United States dollars unless otherwise stated. Functional currency An entity’s functional currency is the currency of the primary economic environment in which the entity operates. During 2021, the Group’s operations continued to move further towards being US$ denominated and several other factors during the period have also contributed to the Group changing its functional currency during the year, such as the completion of U.S. initial public offering (IPO) and the Nasdaq listing in October 2020, opening a US subsidiary in May 2021 for a planned expansion into the US, and expanding the Board of Directors with the appointment of now five US based Directors. A significant element in the Group’s assessment to change the functional currency resulted from the significant increase in expenses denominated in US dollars relating to advanced clinical trials since the commencement of Phase 3 trials in March 2021. These changes, as well as the fact that the Group’s principal source of financing is now the U.S. capital market and all of the Group’s budgeting and planning is conducted solely in dollars led to the Company determining that the U.S. dollar (US$) best represents the currency of the primary economic environment in which the entity now operates. Accordingly, the Group changed its functional currency from Australian dollar (A$) to U.S. dollar (US$) effective January 1, 2021. Presentation Currency Following the change in functional currency, the Group changed its presentation currency from Australian dollars (A$) to US$. The change in presentation currency was made to better reflect the Group’s business activities and to enhance access to U.S. capital markets. Prior to the change, the Group reported its financial statements in Australian dollars (A$). A change in presentation currency is a change in accounting policy which is accounted for retrospectively during 2021. In making this change in presentation currency, the Group followed the requirements set out in IAS 21 The Effects of Changes in Foreign Exchange Rates Change in Presentation of Other Income The Group changed its presentation of Other income by reclassifying interest income out of Other income and into Finance Income – interest income to better reflect the nature of the related amounts as finance income. This reclassification had no effect on the reported results of operations.
Basis of consolidation	Basis of consolidation The consolidated financial statements incorporate the financial statements of the Company and its subsidiaries. Control is achieved when the Company: • Has power over the investee; • Is exposed, or has rights, to variable returns from its involvement with the investee; and • Has the ability to use its power to affect its returns. Consolidation of a subsidiary begins when the Company obtains control over the subsidiary and ceases when the Company loses control of the subsidiary. All intragroup assets and liabilities, equity, income, expenses and cash flows relating to transactions between members of the Group are eliminated in full on consolidation.
Foreign currency translation	Foreign currency translation i. Functional and presentation currency As of January 1, 2021 the Group determined that its functional and presentation currency had changed from Australian Dollars to United States Dollars. Therefore, the functional and presentation currency of the Group is the United States dollars (US$). ii. Transactions and balances Transactions in foreign currencies are initially recorded in the functional currency by applying the exchange rates ruling in place at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated at the rate of exchange ruling in place at the reporting date. Non‑monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate as of the date of the initial transaction. Non‑monetary items measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined.
Financial assets and liabilities	Financial assets and liabilities Recognition and derecognition of financial assets Purchases and sales of financial assets that require delivery of assets within the time frame generally established by regulation or convention in the marketplace are recognized on the trade date, i.e., the date that the Group commits to purchase the asset. Financial assets are derecognized when the right to receive cash flows from the financial assets has expired or when the entity transfers substantially all the risks and rewards of the financial assets. If the entity neither retains nor transfers substantially all of the risks and rewards, it derecognizes the asset if it has transferred control of the assets. When financial assets are recognized initially, they are measured at fair value, plus directly attributable transaction costs. Cash and cash equivalents Cash and cash equivalents in the statement of financial position comprise cash at bank and in hand and short‑term deposits with an original maturity of three months or less that are readily convertible to known amounts of cash and which are subject to an insignificant risk of changes in value. For the purposes of the statement of cash flows, cash and cash equivalents consist of cash and cash equivalents as defined above. Other receivables Other receivables generally comprise bank interest receivable, other receivables from external parties and Goods and Services Tax (GST) credits receivable and are recognized and carried at original invoice amount less an allowance for any uncollectible amounts. The amounts are usually received within 30 to 60 days of recognition. The Group measures the loss allowance for receivables at an amount equal to lifetime expected credit losses (ECL). The ECL on receivables are estimated under the simplified approach as permitted under IFRS 9 “Financial Instruments.” This uses a provision matrix by reference to past experience of the debtor and an analysis of the debtor’s current financial position, adjusted for factors that are specific to the debtors and general economic conditions of the industry in which the debtors operate. The Group writes off a receivable when there is information indicating that the debtor is in severe financial difficulty and there is no realistic prospect of recovery. Investments Investments in financial assets comprise of the Group’s non‑current investments in listed companies. On initial recognition, the Group may make an irrevocable election (on an instrument‑by‑instrument basis) to designate investments in equity instruments as fair value through other comprehensive income (FVTOCI). Designation at FVTOCI is not permitted if the equity instrument is held for trading. Investments in equity instruments at FVTOCI are initially measured at fair value plus transaction costs. Subsequently, they are measured at fair value with gains or losses arising from changes in the fair value recognized in other comprehensive income and accumulated in the fair value of investments reserve. The fair values of investments in financial assets that are actively traded in organized financial markets is determined by reference to quoted market bid prices at the close of business on the reporting date. The cumulative gain or loss is not reclassified to profit or loss on disposal of the equity instruments. Dividends on these investments in equity instruments are recognized in profit or loss in accordance with International Financial Reporting Standards. Finance income Almost all of the Group’s finance income is earned on short‑term bank deposits, and as such, finance income is recognized when the Group’s right to receive the payment is established. Payables Payables are carried at amortized cost and due to their short‑term nature, they are not discounted. They represent liabilities for goods and services provided to the Group prior to the end of the financial year that are unpaid and arise when the Group becomes obliged to make future payments in respect of the purchase of these goods and services. The amounts are unsecured and are usually paid within 30 days of recognition.
Plant and equipment	Plant and equipment Plant and equipment are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Depreciation is calculated on a straight‑line basis over their useful economic lives as follows: • Equipment and furniture – 3 to 10 years; and • Leasehold improvements – 8 years or the term of the lease if shorter. The assets’ residual values, useful lives and amortization methods are reviewed, and adjusted if appropriate, at each financial year end. An item of plant and equipment is derecognized upon disposal or when no further economic benefits are expected from its use or disposal.
Research and development costs	Research and development costs Research costs are expensed as incurred. An intangible asset arising from the development expenditure on an internal project will only be recognized when the Group can demonstrate the technical feasibility of completing the intangible asset so that it will be available for use or sale, its intention to complete and its ability to use or sell the asset, how the asset will generate future economic benefits, the availability of resources to complete the development and the ability to measure reliably the expenditure attributable to the intangible asset during its development. As of June 30, 2022, 2021 and 2020, the Group is in the research phase and has not capitalized any development costs to date.
Provisions and employee benefits	Provisions and employee benefits i. Wages, salaries, annual leave and sick leave Liabilities for wages and salaries, including non‑monetary benefits and annual leave expected to be settled within 12 months of the reporting date are recognized in current provisions in respect of employees’ services up to the reporting date. They are measured at the amounts expected to be paid when the liabilities are settled. Expenses for non‑accumulating sick leave are recognized when the leave is taken and are measured at the rate paid or payable. ii. Long service leave The liability for long service leave is recognized in the provision for employee benefits and measured as the present value of expected future payments to be made in respect of services provided by employees up to the reporting date. Consideration is given to expected future wage and salary levels, experience of employee departures, and periods of service. Expected future payments are discounted using market yields at the reporting date on bonds with terms to maturity that match, as closely as possible, the estimated future cash outflows.
Share based payment transactions	Share‑based payment transactions The Group provides benefits to directors and employees (including key management personnel) of the Group in the form of share‑based payments, whereby employees render services in exchange for shares or rights over shares (equity‑settled transactions). The cost of these equity‑settled transactions with employees is measured by reference to the fair value at the date at which they are granted. Binomial models are used to value the options issued. The cost of the equity‑settled transactions is recognized, together with a corresponding increase in equity, over the period in which the performance conditions are fulfilled (the vesting period), ending on the date on which the relevant employees become fully entitled to the award (the vesting date). The charge to profit or loss for the period is the cumulative amount less the amounts already charged in previous periods. There is a corresponding credit to equity. Until an award has vested, any amounts recorded are contingent and will be adjusted if more or fewer awards vest than were originally anticipated to do so.
Contributed equity	Contributed equity Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Revenue recognition	Revenue recognition License revenue in connection with licensing of the Group’s intellectual property (including patents) to customers is recognized as a right to use the Group’s intellectual property as it exists at the point in time in which the license is granted. This is because the contracts for the license of intellectual property are distinct and do not require, nor does the customer reasonably expect, that the Group will undertake further activities that significantly affect the intellectual property to which the customer has the rights. Although the Group is entitled to sales‑based royalties from the eventual sales of goods and services to third parties using the intellectual property licensed, these royalty arrangements do not in themselves indicate that the customer would reasonably expect the Group to undertake such activities, and no such activities are undertaken or contracted in practice. Accordingly, the promise to provide rights to the Group’s intellectual property is accounted for as a performance obligation satisfied at a point in time. The following consideration is received in exchange for licenses of intellectual property: • Up‑front license fees – these are fixed amounts and are recognized at the point in time when the Group transfers the intellectual property to the customer. • Sales‑based royalties – these are variable consideration amounts promised in exchange for the license of intellectual property and are recognized when the sales to third parties occur given the performance obligation to transfer the intellectual property to the customer is already satisfied. During the years ended June 30, 2022, 2021 and 2020, the Group’s only revenue related to sales‑based royalties.
Income tax	Income tax Current tax Current tax assets and liabilities for the current and prior periods are measured at the amount expected to be recovered from or paid to the taxation authorities based on the current period’s taxable income. The tax rates and tax laws used to compute the amount are those that are enacted or substantively enacted by the reporting date. Research and development tax incentive The Research and Development (R&D) Tax Incentive Scheme is an Australian Federal Government program under which eligible companies with annual aggregated revenue of less than A$20 million can receive cash amounts equal to 43.5% of eligible research and development expenditures from the Australian Taxation Office (ATO). The R&D Tax Incentive Scheme incentive relates to eligible expenditure incurred in Australia and, under certain circumstances, overseas on the development of the Group’s lead candidate, OPT‑302. The R&D tax incentive is applied annually to eligible expenditure incurred during the Group’s financial year following annual application to AusIndustry, an Australian governmental agency, and subsequent filing of its Income Tax Return with the ATO after the financial year end. The Group estimates the amount of R&D tax incentive after the completion of the financial year based on eligible Australia and overseas expenditures incurred during that year. The Group has presented incentives in respect of the R&D Tax Incentive Scheme within income tax benefit in the Statements of Profit or Loss and Other Comprehensive Income by analogizing with IAS 12 “Income Taxes”. Deferred tax Deferred income tax is provided on all temporary differences at the reporting date between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes. Deferred income tax liabilities are recognized for all taxable temporary differences except when the deferred income tax liability arises from the initial recognition of goodwill or of an asset or liability in a transaction that is not a business combination and that, at the time of the transaction, affects neither the accounting profit nor taxable profit or loss. Deferred income tax assets are recognized for all deductible temporary differences, carry forward of unused tax assets (or credits) and unused tax losses, to the extent that it is probable that taxable profit will be available against which the deductible temporary differences, and the carry forward of unused tax credits and unused tax losses can be utilized, except when the deferred income tax asset relating to the deductible temporary differences arises from the initial recognition of an asset or liability in a transaction that is not a business combination and, at the time of the transaction, affects neither the accounting profit or taxable profit or loss. The carrying amount of deferred income tax assets is reviewed at each reporting date and reduced to the extent that it is no longer probable that sufficient taxable profit will be available to allow all or part of the deferred income tax asset to be utilized. Unrecognized deferred income tax assets are reassessed at each reporting date and are recognized to the extent that it has become probable that future taxable profit will allow the deferred tax asset to be recovered. Deferred income tax assets and liabilities are measured at the tax rates that are expected to apply to the year when the asset is realized or the liability is settled, based on tax rates (and tax laws) that have been enacted or substantively enacted at balance date. Income taxes relating to items recognized directly in equity are recognized directly in equity and not in profit or loss.
Tax consolidation legislation	Tax consolidation legislation Tax consolidation is a system adopted by the ATO that treats a group of entities as a single entity for tax purposes. Opthea Limited and its 100% owned Australian domiciled subsidiary formed a tax consolidated group effective July 1, 2003. The head entity, Opthea Limited, and its controlled entity, Vegenics Pty Ltd, are current members of the tax consolidated group and account for their own current and deferred tax amounts. Members of the tax consolidated group have adopted the “separate taxpayer within group” method to allocate the current and deferred tax amounts to each entity within the Group. This method requires adjustments for transactions and events occurring within the tax consolidated group that do not give rise to a tax consequence for the Group or that have a different tax consequence at the level of the Group. This method requires adjustments for transactions and events occurring within the tax consolidated group that do not give rise to a tax consequence for the Group or that have a different tax consequence at the level of the Group. The head entity which is the parent entity, in assuming the net unused tax losses and unused relevant tax credits, has recognized reductions to investments in subsidiaries and where the amount of tax losses assumed is in excess of the carrying value of the investment, the parent has recognized the difference as a distribution from subsidiaries in profit or loss.
Other taxes	Other taxes Revenues, expenses, assets and liabilities are recognized net of the amount of GST except: • When the GST incurred on a purchase of goods and services is not recoverable from the taxation authority, in which case the GST is recognized as part of the cost of acquisition of the asset or as part of the expense item as applicable; and • Receivables and payables are stated with the amount of GST included. The net amount of GST recoverable from, or payable to the taxation authority is included as part of receivables or payables in the statement of financial position. Cash flows are included in the statement of cash flows on a gross basis and the GST component of cash flows arising from investing and financing activities, which is recoverable from, or payable to, the taxation authority is classified as part of operating cash flows. Commitments and contingencies are disclosed net of the amount of GST recoverable from, or payable to, the taxation authority.

Application of New and Revise_2

Application of New and Revised Accounting Standards (Tables)	12 Months Ended
	Jun. 30, 2022
Disclosure Of Voluntary Change In Accounting Policy [Abstract]
Summary of New and Revised Accounting Standards and Interpretations on Issue But not Yet Effective	At the date of authorization of the financial statements, the Group has not applied the following new and revised International Accounting Standards, Interpretations and amendments that have been issued but are not yet effective: Standard/amendments Effective for annual reporting periods beginning on or after IFRS 1, IAS 1 – Classification of Liabilities as Current or Non-current and Classification of Liabilities as Current and Non-current - Deferral of Effective Dated January 1,2023 IAS 8 – Disclosure of Accounting Policies and Definition of Accounting Estimates January 1,2023 IFRS 16, IFRS 9, IFRS 1 and IAS 41 – Annual Improvements 2018-2020 and Other Amendments January 1,2023 IFRS 9 and IFRS 17 – Initial application - Comparative information January 1,2023 IFRS 1, IAS 12 - Deferred tax related to Assets and Liabilities arising from a Single Transaction January 1,2023

Revenue (Tables)

Revenue (Tables)	12 Months Ended
	Jun. 30, 2022
Revenue [Abstract]
Summary of Revenue	2022 2021 2020 US$ US$ US$ Sales-based royalties 90,683 68,613 59,061 Total Revenue 90,683 68,613 59,061

Other Income (Tables)

Other Income (Tables)	12 Months Ended
	Jun. 30, 2022
Analysis Of Income And Expense [Abstract]
Schedule of Other Income	2022 2021 2020 US$ US$ US$ Grant and other income 108,322 26,950 41,629 Total other income 108,322 26,950 41,629

Research and Development Expe_2

Research and Development Expenses (Tables)	12 Months Ended
	Jun. 30, 2022
Disclosure Of Research And Development Expenses [Abstract]
Summary of Research and Development Expenses	2022 2021 2020 US$ US$ US$ Research project costs 78,654,217 25,891,851 12,064,008 Total research and development expenses 78,654,217 25,891,851 12,064,008

Expenses (Tables)

Expenses (Tables)	12 Months Ended
	Jun. 30, 2022
Expense By Nature [Abstract]
Summary of Expenses	2022 2021 2020 US$ US$ US$ Administrative expenses Employee benefits expenses: Salaries and fees 2,931,243 1,794,840 1,424,237 Cash bonuses 376,649 479,501 193,588 Superannuation 171,899 188,543 141,019 Share-based payments expense 5,251,572 3,897,638 732,688 Total employee benefits expense 8,731,363 6,360,522 2,491,532 Other expenses: Insurance 4,205,106 4,419,433 335,786 Investor relations costs 328,026 285,071 254,212 Audit and accounting 496,652 647,549 221,410 Travel expenses 13,616 1,459 44,521 Payroll tax 172,884 18,766 134,845 Legal fees 1,252,014 83,605 372,431 Advisory fees 156,978 393,843 416,082 Consultancy costs 1,619,824 367,070 — Other expenses 846,098 714,328 334,262 Total other expenses 9,091,198 6,931,124 2,113,549 Depreciation of: Equipment and furniture 11,917 15,012 14,581 Leasehold improvements — — 344 Right-of-use assets 66,465 91,656 81,611 Total depreciation expense 78,382 106,668 96,536 Loss on disposal of non-current assets 169 1,434 1,243 Total administrative expenses 17,901,112 13,399,748 4,702,860

Finance Income (Tables)

Finance Income (Tables)	12 Months Ended
	Jun. 30, 2022
Material Income And Expense [Abstract]
Summary of Finance Income	2022 2021 2020 US$ US$ US$ Interest income 235,468 372,001 480,453 Total finance income 235,468 372,001 480,453

Net Foreign Exchange Loss (Tabl

Net Foreign Exchange Loss (Tables)	12 Months Ended
	Jun. 30, 2022
Net Foreign Exchange Loss Gain [Abstract]
Summary of Net Foreign Exchange Loss	2022 2021 2020 US$ US$ US$ Net foreign exchange loss (2,813,993 ) (11,011,961 ) (265,989 ) Total net foreign exchange loss (2,813,993 ) (11,011,961 ) (265,989 )

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Jun. 30, 2022
Major Components Of Tax Expense Income [Abstract]
Summary of Income Tax Benefit and Current Tax Receivable	2022 2021 2020 US$ US$ US$ (a) Income tax benefit The major components of income tax benefit are: Statement of Profit or Loss and Other Comprehensive Income Current tax Current income tax credit 6,299,286 4,938,846 5,708,767 6,299,286 4,938,846 5,708,767 Deferred tax In respect of the current year — — — Total income tax benefit recognized in the Statement of Profit or Loss and Other Comprehensive Income 6,299,286 4,938,846 5,708,767 (b) Current tax receivable June 30, 2022 June 30, 2021 June 30, 2020 US$ US$ US$ Research and Development Tax Incentive Credit receivable 6,299,286 4,972,898 5,868,152
Summary of Reconciliation Between Income Tax Benefit and the Product of Accounting Loss Before Income Tax Multiplied by the Group?s Applicable Income Tax Rate	A reconciliation between income tax benefit and the product of accounting loss before income tax multiplied by the Group’s applicable income tax rate is as follows: 2022 2021 2020 US$ US$ US$ Accounting loss before tax (99,116,657 ) (50,283,342 ) (16,831,966 ) At the Company's statutory income tax rate of 30% (2020:27.5%) 29,734,997 15,085,003 4,628,791 R&D tax incentive on eligible expenses 6,299,286 4,938,846 5,708,767 Non-deductible R&D expenditure (4,344,335 ) (3,420,951 ) (3,624,766 ) Other non-deductible expenses - share-based payment expense (1,575,472 ) (1,169,291 ) (201,489 ) Amount of temporary differences and carried forward tax losses not recognized (23,815,190 ) (10,494,761 ) (802,536 ) 6,299,286 4,938,846 5,708,767
Summary of Recognized Deferred Tax Assets and Liabilities in Statement of Financial Position	(d) Recognized deferred tax assets and liabilities in statement of financial position June 30, 2022 June 30, 2021 June 30, 2020 Deferred income tax at June 30 relates to the following: Deferred tax liabilities: Interest and royalty income receivable (future assessable income) (17,085 ) (2,344,514 ) (70,925 ) (17,085 ) (2,344,514 ) (70,925 ) Deferred tax assets related to temporary differences: Recognition of tax losses — 1,508,764 — Accrued expenses and other liabilities 198,607 205,458 303,383 Employee provisions 161,159 152,675 128,812 Other miscellaneous items 306,531 477,617 430,839 666,297 2,344,514 863,034 Net deferred tax assets 649,212 — 792,109 Less: temporary differences not recognized (649,212 ) — (792,109 ) Net deferred tax recognized in the statement of financial position — — —

Earnings per Share (Tables)

Earnings per Share (Tables)	12 Months Ended
	Jun. 30, 2022
Earnings Per Share [Line Items]
Summary of Income Used in Basic and Diluted Earnings Per Share Computation	2022 2021 2020 US$ US$ US$ The following reflects the income used in the basic and diluted earnings per share computations: (a) Earnings used in calculating earnings per share Net loss attributable to ordinary equity holders of the parent (92,817,371 ) (45,344,496 ) (11,123,199 ) (b) Weighted average number of shares Weighted average number of ordinary shares on issue for basic earnings per share 351,560,199 320,432,814 260,795,745 Effect of dilution: Share options — — — Weighted average number of ordinary shares adjusted for the effect of dilution 351,560,199 320,432,814 260,795,745 Loss per share (basic and diluted in cents) (26.40 ) (14.15 ) (4.27 )
Options
Earnings Per Share [Line Items]
Summary of Option Plans	These options related to the following option plans. 2022 2021 2020 NED Plan 14,000,000 10,000,000 6,000,000 LTIP 7,388,000 6,644,000 12,044,000 21,388,000 16,644,000 18,044,000
Performance Rights
Earnings Per Share [Line Items]
Summary of Option Plans	These options related to the following option plans. 2022 2021 2020 NED Plan — — — LTIP 1,600,000 — — 1,600,000 — —
A D S Options
Earnings Per Share [Line Items]
Summary of Option Plans	These options related to the following option plans. 2022 2021 2020 NED Plan — — — LTIP 925,000 — — 925,000 — —

Current Assets - Cash and Cas_2

Current Assets - Cash and Cash Equivalents (Tables)	12 Months Ended
	Jun. 30, 2022
Current Assets Cash And Cash Equivalents [Abstract]
Summary of Cash and Cash Equivalents	June 30, 2022 June 30, 2021 US$ US$ Cash at bank and in hand 11,853,883 15,538,510 Short-term deposits 32,777,410 102,654,667 Total cash and cash equivalents 44,631,293 118,193,177

Current Assets - Receivables (T

Current Assets - Receivables (Tables)	12 Months Ended
	Jun. 30, 2022
Current Assets Receivables [Abstract]
Summary of Current Assets - Receivables	June 30, 2022 June 30, 2021 US$ US$ Interest receivable 56,952 37,905 GST receivable 1 157,060 136,239 Other receivable 1 43,656 391,142 Total current receivables 257,668 565,286 1 The GST and other receivables are non‑interest bearing. There were no receivables with a material expected credit loss recorded during the financial year (2021: nil).

Current Assets - Prepayments (T

Current Assets - Prepayments (Tables)	12 Months Ended
	Jun. 30, 2022
Current Prepayments [Abstract]
Summary of Current Assets Prepayments	June 30, 2022 June 30, 2021 US$ US$ R&D Contract Research Organization 7,428,599 12,551,398 Insurance 1,086,847 1,820,059 Other prepayments 204,749 14,698 Total current prepayments 8,720,195 14,386,155

Non-Current Assets - Prepayme_2

Non-Current Assets - Prepayments (Tables)	12 Months Ended
	Jun. 30, 2022
Disclosure Of Noncurrent Assets Prepayments [Abstract]
Summary of Non-Current Assets - Prepayments	June 30, 2022 June 30, 2021 US$ US$ Insurance 110,295 174,541 Total non-current prepayments 110,295 174,541

Current Liabilities _ Payables

Current Liabilities – Payables (Tables)	12 Months Ended
	Jun. 30, 2022
Current Liabilities Payables [Abstract]
Summary of Current Liabilities Payables	June 30, 2022 June 30, 2021 US$ US$ Accounts Payable (unsecured) 1 11,402,164 2,417,719 Payroll related tax liability 43,334 83,799 Total current payables 11,445,498 2,501,518 1 Accounts Payable are non‑interest bearing and are normally settled on 30 day terms.

Current Liabilities - Provisi_2

Current Liabilities - Provisions (Tables)	12 Months Ended
	Jun. 30, 2022
Current Provisions [Abstract]
Summary of Current Provisions	June 30, 2022 June 30, 2021 US$ US$ Annual leave 383,220 289,043 Long service leave 212,983 202,959 Total current provisions 596,203 492,002

Non-Current Liabilities - Pro_2

Non-Current Liabilities - Provisions (Tables)	12 Months Ended
	Jun. 30, 2022
Noncurrent Provisions [Abstract]
Summary of Non-Current Liabilities - Provisions	June 30, 2022 June 30, 2021 US$ US$ Long service leave 27,974 16,915 Total non-current provisions 27,974 16,915

Contributed Equity (Tables)

Contributed Equity (Tables)	12 Months Ended
	Jun. 30, 2022
Contributed Equity [Abstract]
Summary of Contributed Equity	June 30, 2022 June 30, 2021 June 30, 2020 US$ US$ US$ (a) Ordinary shares Issued and fully paid at June 30 235,277,217 234,147,526 113,852,364 Movement in ordinary shares: Opening balance 234,147,526 113,852,364 80,331,016 Issue of shares on exercise of options granted under the LTIP 1,129,691 3,271,542 284,828 Issue of shares on Nasdaq listing net of issuance cost $10,126,959 — 105,477,591 — Issue of shares on exercise of pre-funded warrants net of issuance cost $1,099,412 — 11,546,029 — Transfer from option reserve — — — 235,277,217 234,147,526 113,852,364 Ordinary shares on issue: No: No: No: Opening balance 351,003,541 269,157,769 249,414,839 Issue of shares on exercise of options granted under the LTIP 1,149,001 5,845,804 — Issues of shares on Nasdaq listing — 68,506,400 — Issue of share on exercise of pre-funded warrants — 7,493,568 — 352,152,542 351,003,541 269,157,769 June 30, 2022 June 30, 2021 June 30, 2020 US$ US$ US$ (b) Pre-funded warrants Movement in pre-funded warrants: Opening balance — — — Issue of pre-funded warrants in a US initial public offering — 12,645,441 — Cost of issue of pre-funded warrants — (1,099,412 ) — Issue of shares on exercise of pre-funded warrants — (11,546,029 ) — — — — Pre-funded warrants on issue: No: No: No: Opening balance — — — Issue of pre-funded warrants in a US Initial public offering — 7,493,600 — Exercise of pre-funded warrants — (7,493,568 ) — Forfeiture on exercise — (32 ) — — — —

Accumulated Losses and Reserv_2

Accumulated Losses and Reserves (Tables)	12 Months Ended
	Jun. 30, 2022
Disclosure Of Reserves Within Equity [Abstract]
Summary of Accumulated Losses and Reserves	2022 2021 2020 US$ US$ US$ (a) Movements in accumulated losses were as follows: Balance at July 1 (124,123,982 ) (78,779,486 ) (67,656,287 ) Net loss for the year (92,817,371 ) (45,344,496 ) (11,123,199 ) Balance at June 30 (216,941,353 ) (124,123,982 ) (78,779,486 ) (b) Reserves Fair value of Investments reserve (i) 1,085,411 1,085,411 551,409 Share-based payments reserve (ii) 8,466,706 4,087,650 3,116,080 Foreign translation reserve (iii) 20,089,163 20,089,163 5,827,605 Total reserves 29,641,280 25,262,224 9,495,094 (i) Movement in fair value of investments reserve: Opening balance 1,085,411 551,409 517,700 Fair value on gains on investments in financial assets — 469,767 41,098 Exchange on translation — 64,235 (7,389 ) Closing balance 1,085,411 1,085,411 551,409 (ii) Movement in share-based payments reserve: Opening balance 4,087,650 3,116,080 2,401,769 Share-based payments expense 5,251,572 3,897,638 732,688 Exercise of options (872,516 ) (3,271,542 ) (284,828 ) Exchange on translation — 345,474 266,451 Closing balance 8,466,706 4,087,650 3,116,080 (iii) Movement in foreign translation reserve: Opening balance 20,089,163 5,827,605 6,257,941 (Gains)/loss on translation — 14,261,558 (430,336 ) Closing balance 20,089,163 20,089,163 5,827,605

Financial Risk Management Obj_2

Financial Risk Management Objectives and Policies (Tables)	12 Months Ended
	Jun. 30, 2022
Interest rate risk [member]
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items]
Summary of Judgments of Reasonably Possible Movements	At June 30, 2022, 2021 and 2020, if interest rates moved, with all variables held constant, post tax (loss)/profit and equity would have been affected as illustrated in the following table: Post tax (loss)/profit impact 2022 2021 2020 US$ US$ US$ Judgments of reasonably possible movements +0.50% (50 basis points) (2021:+0.50%) 114,859 359,442 137,676 -0.50% (50 basis points) (2021:-0.50%) (114,859 ) (359,442 ) (137,676 )
Currency Risk
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items]
Summary of Judgments of Reasonably Possible Movements	At June 30, 2022 and 2021, had the United States dollar (2020: Australian dollar) moved with all other variables held constant, post tax (loss) profit and equity would have been affected as illustrated in the table below: Post tax (loss)/profit impact 2022 2021 2020 US$ US$ US$ Judgments of reasonably possible movements Consolidated AUD/USD +10% (2021:+10%) (2,119,834 ) (2,538,062 ) 219,569 AUD/USD -10% (2021:-10%) 2,590,908 3,102,076 (268,361 )
Summary of Exposure to Foreign Currency Risk	At the reporting date, the Group has the following exposure to foreign currencies. : Consolidated 2022 AUD EURO GBP CAD Financial assets Cash 26,697,582 — — — Receivables 7,827,565 — — — Financial liabilities Payables (1,213,469 ) (435,698 ) (3,037 ) (13,419 ) Other financial liabilities — — — — Net exposure 33,311,678 (435,698 ) (3,037 ) (13,419 ) Consolidated 2021 AUD EURO GBP CAD Financial assets Cash 35,646,457 — — — Receivables 5,513,541 — — — Financial liabilities Payables (1,276,164 ) (41,872 ) — (1,290 ) Other financial liabilities — — — — Net exposure 39,883,834 (41,872 ) — (1,290 )

Related Party Disclosures (Tabl

Related Party Disclosures (Tables)	12 Months Ended
	Jun. 30, 2022
Related Party Transactions [Abstract]
Summary of Consolidated Financial Statements Include Financial Statements of Opthea Limited and Subsidiaries	The consolidated financial statements include the financial statements of Opthea Limited and its subsidiaries in the following table: Parent entity % equity interest June 30, 2022 June 30, 2021 June 30, 2020 % % % Vegenics Pty Ltd 1 100 100 100 Opthea US Inc 2 100 100 — (1) Opthea Limited is the ultimate parent entity. Vegenics Pty Ltd is incorporated in Australia and has the same financial year as Opthea Limited. (2) Opthea Limited is the ultimate parent entity. Opthea US Inc was incorporated in the United States in May 2021 and has the same financial year as Opthea Limited.

Commitments (Tables)

Commitments (Tables)	12 Months Ended
	Jun. 30, 2022
Commitments [Abstract]
Summary of Expenditure Commitments Relating to Services for Clinical Trial and Intellectual Property License Agreements	Expenditure commitments relating to these, and intellectual property license agreements are payable as follows: 2022 2021 2020 US$ US$ US$ Within one year 39,947,900 26,377,778 7,660,325 After one year but not more than five years 8,007,202 2,347,060 293,815 After more than five years 45,000 — 75,000 48,000,102 28,724,838 8,029,140
Summary of Commercial Commitments	(ii) Commercial commitments 2022 2021 2020 US$ US$ US$ Within one year 507,874 — — After one year but not more than five years — — — After more than five years — — — 507,874 — —

Cash Flow Statements Reconcil_2

Cash Flow Statements Reconciliation (Tables)	12 Months Ended
	Jun. 30, 2022
Cash Flow Statement Reconciliation [Abstract]
Summary of Cash Flow Statements Reconciliation	2022 2021 2020 US$ US$ US$ (a) Reconciliation to cash at the end of the year Cash at bank and in hand (note 15) 44,631,293 118,193,177 42,650,858 44,631,293 118,193,177 42,650,858 (b) Reconciliation of net loss after tax to net cash flows from operations Net loss for the year (92,817,371 ) (45,344,496 ) (11,123,199 ) Adjustments for: Income tax benefit recognized in profit or loss (6,299,286 ) (4,938,846 ) (5,708,767 ) Net loss of disposal of non-current assets 169 — — Depreciation of non-current assets 11,917 15,012 14,926 Depreciation of right-of-use assets 66,465 91,656 81,611 Share-based payments expense 5,251,572 3,897,638 732,688 Net exchange differences 2,813,993 11,011,961 265,989 1,844,830 10,077,421 (4,613,553 ) Changes in: Payables 8,511,607 (1,552,443 ) (125,492 ) Receivables 307,618 (369,712 ) 12,127 Prepayments 5,730,207 (14,231,546 ) (30,994 ) Provisions 115,259 40,510 72,794 Net cash flows used in operating activities before tax (76,307,850 ) (51,380,266 ) (15,808,317 ) R&D tax incentive received 4,972,898 5,834,099 10,118,697 Net cash flows used in operating activities (71,334,952 ) (45,546,167 ) (5,689,620 ) 2022 2021 2020 US$ US$ US$ (c) Reconciliation of borrowings arising from financing activities Balance at July 1 93,852 167,460 — Non-cash addition 251,189 Payment of lease liabilities (85,578 ) (87,373 ) (66,781 ) Exchange on translation (8,274 ) 13,765 (16,948 ) Balance at June 30 — 93,852 167,460 1 Non‑cash addition represents the new lease on the Company’s office premises in Melbourne, Australia that commenced on July 15, 2019 and is renewable July 15, 2022.

Key Management Personnel (Table

Key Management Personnel (Tables)	12 Months Ended
	Jun. 30, 2022
Disclosure Of Transactions Between Related Parties [Abstract]
Schedule of Compensation of Key Management Personnel	(a) Compensation of Key Management Personnel 2022 2021 2020 US$ US$ US$ Short-term employee benefits 1,555,658 1,099,081 680,954 Post-employment benefits 56,105 79,550 64,632 Share-based payments expense 4,664,767 3,897,638 420,751 6,276,530 5,076,269 1,166,337

Share-Based Payments (Tables)

Share-Based Payments (Tables)	12 Months Ended
	Jun. 30, 2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Summary of Recognized Share Based Payment Expenses	The expense recognized for share‑based payments during the year is shown in the table below: 2022 2021 2020 US$ US$ US$ Expense arising from equity-settled share-based payment transactions: Director and employee services received 5,251,572 3,897,638 732,688 5,251,572 3,897,638 732,688
Summary of Fair Value of Share Options Granted	Options/Rights services Grant date Grant date fair value US$ Exercise price US$ Expiry date Vesting date LTIP - director FY2016 March 7,2016 0.140 0.360 March 7, 2021 June 30, 2016 LTIP - director FY2019 November 29, 2018 0.150 0.625 November 29, 2022 November 29, 2019 LTIP - employees FY2016 March 31, 2016 0.180 0.370 January 1, 2022 January 1, 2017 LTIP - employees FY2018 August 23, 2017 0.260 0.920 January 1, 2023 June 30, 2018 LTIP - employees FY2019 April 3, 2019 0.180 0.608 April 3, 2023 April 3, 2021 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 October 19, 2021 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 October 19, 2022 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 October 19, 2023 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 January 31, 2023 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 November 30, 2022 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 April 30, 2023 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 April 30, 2023 LTIP - employees FY2022 October 19, 2021 0.955 0.000 October 18, 2031 September 30, 2024 LTIP - employees FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2021 LTIP - employees FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2022 LTIP - employees FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2023 LTIP - employees FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2024 LTIP - employees FY2022 June 6, 2022 0.553 1.460 June 5, 2032 June 6, 2022 LTIP - employees FY2022 June 6, 2022 0.553 1.460 June 5, 2032 June 6, 2023 LTIP - employees FY2022 June 6, 2022 0.553 1.460 June 5, 2032 June 6, 2024 LTIP - employees FY2022 June 6, 2022 0.553 1.460 June 5, 2032 June 6, 2025 NED Plan FY2016 March 7,2016 0.140 0.360 March 7, 2021 June 30, 2016 NED Plan FY2019 November 29, 2018 0.150 0.625 November 29, 2022 November 29, 2019 NED Plan FY2021 October 12, 2020 1.050 3.240 October 11, 2024 October 12, 2020 NED Plan FY2021 October 12, 2020 1.050 3.240 October 11, 2024 October 12, 2021 NED Plan FY2021 October 12, 2020 1.050 3.240 October 11, 2024 October 12, 2022 NED Plan FY2021 October 12, 2020 1.050 3.240 October 11, 2024 October 12, 2023 NED Plan FY2021 October 12, 2020 1.240 2.160 October 11, 2024 October 12, 2020 NED Plan FY2021 October 12, 2020 1.240 2.160 October 11, 2024 October 12, 2021 NED Plan FY2021 October 12, 2020 1.240 2.160 October 11, 2024 October 12, 2022 NED Plan FY2021 October 12, 2020 1.240 2.160 October 11, 2024 October 12, 2023 NED Plan FY2021 January 19, 2021 0.880 1.560 January 18, 2025 January 19, 2021 NED Plan FY2021 January 19, 2021 0.880 1.560 January 18, 2025 January 19, 2022 NED Plan FY2021 January 19, 2021 0.880 1.560 January 18, 2025 January 19, 2023 NED Plan FY2021 January 19, 2021 0.880 1.560 January 18, 2025 January 19, 2024 NED Plan FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2021 NED Plan FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2022 NED Plan FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2023 NED Plan FY2022 October 19, 2021 0.526 0.948 October 18, 2025 October 19, 2024 NED Plan FY2022 April 21, 2022 0.397 0.755 April 20, 2026 April 21, 2022 NED Plan FY2022 April 21, 2022 0.397 0.755 April 20, 2026 April 21, 2023 NED Plan FY2022 April 21, 2022 0.397 0.755 April 20, 2026 April 21, 2024 NED Plan FY2022 April 21, 2022 0.397 0.755 April 20, 2026 April 21, 2025 Options/Rights services Grant date share price US$ Exercise price US$ Fair value per option US$ Expected volatility Option life Dividend yield Risk free interest rate Model used LTIP - director FY2016 0.280 0.360 0.140 65.00 % 5 years 0 % 2.09 % Binomial LTIP - director FY2019 0.420 0.625 0.150 58.00 % 4 years 0 % 2.04 % Binomial LTIP - employees FY2016 0.540 0.370 0.180 65.00 % 5 years 0 % 2.09 % Binomial LTIP - employees FY2018 0.340 0.920 0.260 66.00 % 5 years 0 % 2.09 % Binomial LTIP - employees FY2019 0.480 0.608 0.180 57.00 % 4 years 0 % 2.04 % Binomial LTIP - employees FY2022 0.955 0.948 0.526 74.78 % 4 years 0 % 0.25 % Binomial LTIP - employees FY2022 0.955 nil 0.955 n/a 10 years 0 % n/a n/a LTIP - employees FY2022 0.901 1.460 0.553 75.00 % 6.5 years 0 % 3.40 % Binomial NED Plan FY2016 0.280 0.360 0.140 65.00 % 5 years 0 % 2.09 % Binomial NED Plan FY2019 0.420 0.625 0.150 58.00 % 4 years 0 % 2.04 % Binomial NED Plan FY2021 2.190 2.160 1.240 77.25 % 4 years 0 % 0.25 % Binomial NED Play FY2021 2.190 3.240 1.050 77.25 % 4 years 0 % 0.25 % Binomial NED Plan FY2021 1.560 1.560 0.880 77.01 % 4 years 0 % 0.25 % Binomial NED Plan FY2022 0.955 0.945 0.526 74.78 % 4 years 0 % 0.25 % Binomial NED Plan FY2022 0.741 0.755 0.397 75.00 % 3.5 years 0 % 2.70 % Binomial ADS Options Grant date share price US$ Exercise price US$ Fair value per ADS option US$ Expected volatility ADS Option life Dividend yield Risk free interest rate Model used LTIP - employee 2022 7.240 7.625 4.970 75.00 % 7 years 0 % 1.40 % Binomial LTIP - employee 2022 7.500 7.515 5.228 75.00 % 7 years 0 % 1.70 % Binomial LTIP - employee 2022 5.925 6.009 4.116 75.00 % 7 years 0 % 1.70 % Binomial LTIP - employee 2022 5.915 6.090 4.171 75.00 % 7 years 0 % 2.90 % Binomial LTIP - employee 2022 7.000 7.116 4.953 75.00 % 7 years 0 % 2.90 % Binomial LTIP - employee 2022 7.309 7.445 5.175 75.00 % 7 years 0 % 3.00 % Binomial LTIP - employee 2022 5.500 5.522 3.886 75.00 % 7 years 0 % 3.40 % Binomial
Summary of Share/Rights Options Outstanding	The following reconciles the share/rights options outstanding at the beginning and end of the year: 2022 2021 2020 Number of options and rights Weighted average exercise price US$ Number of options and rights Weighted average exercise price US$ Number of options and rights Weighted average exercise price US$ Balance at beginning of year 16,644,000 1.28 18,044,000 0.50 18,919,000 0.50 Granted during the year: To employees and directors under the LTIP and NED Plan 8,400,000 0.77 7,000,000 2.21 — — Exercised during the year (2,056,000 ) 0.55 (8,400,000 ) 0.36 (875,000 ) 0.37 Expired during the year — — — — — — Balance at end of the year 22,988,000 1.16 16,644,000 1.28 18,044,000 0.50 Exercisable at end of year 12,857,589 0.97 11,394,000 0.86 18,044,000 0.50
American Depository Shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Summary of Share/Rights Options Outstanding	The following reconciles the ADS options outstanding at the beginning and end of the year: 2022 2021 2020 Number of options and rights Weighted average exercise price US$ Number of options and rights Weighted average exercise price US$ Number of options and rights Weighted average exercise price US$ Balance at beginning of year — — — — — — Granted during the year: To employees and directors under the LTIP and NED Plan 925,000 6.75 — — — — Exercised during the year — — — — — — Expired during the year — — — — — — Balance at end of the year 925,000 6.75 — — — — Exercisable at end of year — — — — — —

Basis of Accounting - Additiona

Basis of Accounting - Additional Information (Details) $ in Thousands						12 Months Ended
	Sep. 26, 2022 USD ($) shares	Sep. 26, 2022 AUD ($) shares	Aug. 24, 2022 USD ($)	Aug. 24, 2022 AUD ($)	Aug. 12, 2022 USD ($)	Jun. 30, 2022 USD ($) Tranche	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)	Jun. 30, 2019 USD ($)
Disclosure Of Reclassifications Or Changes In Presentation [Line Items]
Loss after income tax						$ 92,817,371	$ 45,344,496	$ 11,123,199
Net cash outflows from operating activities						71,334,952	45,546,167	5,689,620
Cash and cash equivalents						44,631,293	118,193,177	42,650,858	$ 15,121,820
Current assets						59,908,442	138,117,516
Net current asset position						$ 47,866,741	135,011,031
Aggregate proceeds from private placement of ordinary shares							$ 105,477,591	$ 32,951,692
Number of tranches | Tranche						2
Events after Reporting Period
Disclosure Of Reclassifications Or Changes In Presentation [Line Items]
Proceeds from issuance of ordinary shares	$ 618,000	$ 940
Events after Reporting Period | Ordinary shares [member]
Disclosure Of Reclassifications Or Changes In Presentation [Line Items]
Number of ordinary shares issued | shares	817,824	817,824
Development Funding Agreement | Events after Reporting Period
Disclosure Of Reclassifications Or Changes In Presentation [Line Items]
Funding initial payment					$ 50,000,000
Development Funding Agreement | Events after Reporting Period | Bottom of Range
Disclosure Of Reclassifications Or Changes In Presentation [Line Items]
Amount committed by investor					120,000,000
Development Funding Agreement | Events after Reporting Period | Top of Range
Disclosure Of Reclassifications Or Changes In Presentation [Line Items]
Amount committed by investor					170,000,000
Private Placement of Ordinary Shares (PIPE) | Events after Reporting Period
Disclosure Of Reclassifications Or Changes In Presentation [Line Items]
Aggregate proceeds from private placement of ordinary shares					$ 90,000,000
Private Placement of Ordinary Shares (PIPE) | Events after Reporting Period | First Tranche
Disclosure Of Reclassifications Or Changes In Presentation [Line Items]
Aggregate proceeds from private placement of ordinary shares			$ 41,900,000	$ 60,700
Private Placement of Ordinary Shares (PIPE) | Events after Reporting Period | Second Tranche
Disclosure Of Reclassifications Or Changes In Presentation [Line Items]
Aggregate proceeds from private placement of ordinary shares	$ 47,500,000

Summary of Accounting Policie_2

Summary of Accounting Policies - Additional Information (Details)	12 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 AUD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Effect on consolidated financial statements resulted in an addition to foreign currency translation reserve	$ 14,300,000
Unsecured amount payable payment period	30 days	30 days
Sales	$ 90,683		$ 68,613	$ 59,061
Percentage of cash amount equal to eligible research and development expenditures	43.50%	43.50%
Australian Domiciled Subsidiary
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Ownership percentage in subsidiary	100%	100%
Leasehold Improvements
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Useful economic lives	8 years	8 years
Bottom of Range
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Other receivable collection period	30 days	30 days
Bottom of Range | Equipment and Furniture
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Useful economic lives	3 years	3 years
Top of Range
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Other receivable collection period	60 days	60 days
Top of Range | Research and Development Tax Incentive Scheme
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Sales		$ 20,000,000
Top of Range | Equipment and Furniture
Description Of Business And Summary Of Significant Accounting Policies [Line Items]
Useful economic lives	10 years	10 years

Critical Accounting Judgement_2

Critical Accounting Judgements and Key Sources of Estimation Uncertainty - Additional Information (Details)	12 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 AUD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
Critical Accounting Judgements And Key Sources Of Estimation Uncertainty [Line Items]
Research and development expense	$ 78,654,217		$ 25,891,851	$ 12,064,008
Percentage of cash amount equal to eligible research and development expenditures	43.50%	43.50%
Research and development tax incentive credit receivable	$ 6,299,286		4,972,898	5,868,152
Research and development tax incentive description	The R&D tax incentive is considered an income tax offset which will be offset against the Group’s tax obligation if and when the Group returns to a net tax payable position. In addition, whilst the Group is currently eligible to receive cash payments under the scheme since its consolidated revenue is currently below A$20 million, if and when the Group generates revenue in excess of A$20 million the R&D tax incentive will become non‑refundable and can only be offset against any future income tax payable by the Group.	The R&D tax incentive is considered an income tax offset which will be offset against the Group’s tax obligation if and when the Group returns to a net tax payable position. In addition, whilst the Group is currently eligible to receive cash payments under the scheme since its consolidated revenue is currently below A$20 million, if and when the Group generates revenue in excess of A$20 million the R&D tax incentive will become non‑refundable and can only be offset against any future income tax payable by the Group.
Revenue	$ 90,683		68,613	59,061
Research and Development Tax Incentive Scheme | Top of Range
Critical Accounting Judgements And Key Sources Of Estimation Uncertainty [Line Items]
Revenue		$ 20,000,000
Research and Development Tax Incentive Scheme | Bottom of Range | Non Refundable
Critical Accounting Judgements And Key Sources Of Estimation Uncertainty [Line Items]
Revenue		$ 20,000,000
Development Cost Capitalized
Critical Accounting Judgements And Key Sources Of Estimation Uncertainty [Line Items]
Research and development expense	$ 0		$ 0	$ 0

Application of New and Revise_3

Application of New and Revised Accounting Standards - Summary of New and Revised Accounting Standards and Interpretations on Issue But not Yet Effective (Details)	12 Months Ended
	Jun. 30, 2022
IFRS 1, IAS 1– Classification of Liabilities as Current or Non-current and Clossification of Liabilities as Current and Non-current - Deferral of Effective Dated
Disclosure Of Voluntary Change In Accounting Policy [Line Items]
Effective for annual reporting periods beginning on or after	Jan. 01, 2023
IAS 8- Disclosure of Accounting Policies and Definition of Accounting Estimates
Disclosure Of Voluntary Change In Accounting Policy [Line Items]
Effective for annual reporting periods beginning on or after	Jan. 01, 2023
IFRS 16, IFRS 9, IFRS 1 and IAS 41 - Annual Improvements 2018-2020 and Other Amendments
Disclosure Of Voluntary Change In Accounting Policy [Line Items]
Effective for annual reporting periods beginning on or after	Jan. 01, 2023
IFRS 9 and IFRS 17 Initial Application Comparative Information
Disclosure Of Voluntary Change In Accounting Policy [Line Items]
Effective for annual reporting periods beginning on or after	Jan. 01, 2023
IFRS 1, IAS 12- Deferred Tax related to Assets and Liabilities arising from a Single Transaction
Disclosure Of Voluntary Change In Accounting Policy [Line Items]
Effective for annual reporting periods beginning on or after	Jan. 01, 2023

Segment Information - Additiona

Segment Information - Additional Information (Details)	12 Months Ended
	Jun. 30, 2022 USD ($) Industry Geographicalarea Segment	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
Disclosure Of Operating Segments [Abstract]
Number of operating segment | Industry	1
Number of geographical area | Geographicalarea	2
Number of reporting segment | Segment	1
Royalty income | $	$ 90,683	$ 68,613	$ 59,061

Revenue - Summary of Revenue (D

Revenue - Summary of Revenue (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Revenue [Abstract]
Sales-based royalties	$ 90,683	$ 68,613	$ 59,061
Revenue	$ 90,683	$ 68,613	$ 59,061

Other Income - Schedule of Othe

Other Income - Schedule of Other Income (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Analysis Of Income And Expense [Abstract]
Grant and other income	$ 108,322	$ 26,950	$ 41,629
Total other income	$ 108,322	$ 26,950	$ 41,629

Research and Development Expe_3

Research and Development Expenses - Summary of Research and Development Expenses (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Research And Development Expenses [Abstract]
Research project costs	$ 78,654,217	$ 25,891,851	$ 12,064,008
Total research and development expenses	$ 78,654,217	$ 25,891,851	$ 12,064,008

Expenses - Summary of Expenses

Expenses - Summary of Expenses (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Employee benefits expenses:
Salaries and fees	$ 2,931,243	$ 1,794,840	$ 1,424,237
Cash bonuses	376,649	479,501	193,588
Superannuation	171,899	188,543	141,019
Share-based payments expense	5,251,572	3,897,638	732,688
Total employee benefits expense	8,731,363	6,360,522	2,491,532
Other expenses:
Insurance	4,205,106	4,419,433	335,786
Investor relations costs	328,026	285,071	254,212
Audit and accounting	496,652	647,549	221,410
Travel expenses	13,616	1,459	44,521
Payroll tax	172,884	18,766	134,845
Legal fees	1,252,014	83,605	372,431
Advisory fees	156,978	393,843	416,082
Consultancy costs	1,619,824	367,070
Other expenses	846,098	714,328	334,262
Total other expenses	9,091,198	6,931,124	2,113,549
Depreciation of:
Equipment and furniture	11,917	15,012	14,581
Leasehold improvements			344
Right-of-use assets	66,465	91,656	81,611
Total depreciation expense	78,382	106,668	96,536
Loss on disposal of non-current assets	169	1,434	1,243
Total administrative expenses	$ 17,901,112	$ 13,399,748	$ 4,702,860

Finance Income - Summary of Fin

Finance Income - Summary of Finance Income (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Material Income And Expense [Abstract]
Interest income	$ 235,468	$ 372,001	$ 480,453
Total finance income	$ 235,468	$ 372,001	$ 480,453

Net Foreign Exchange Loss - Sum

Net Foreign Exchange Loss - Summary of Net Foreign Exchange Loss (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Net Foreign Exchange Loss Gain [Abstract]
Net foreign exchange loss	$ (2,813,993)	$ (11,011,961)	$ (265,989)
Total net foreign exchange loss	$ (2,813,993)	$ (11,011,961)	$ (265,989)

Net Foreign Exchange Loss - Add

Net Foreign Exchange Loss - Additional Information (Details) - 12 months ended Jun. 30, 2022 $ in Millions, $ in Millions	USD ($)	AUD ($)
Net Foreign Exchange Loss Gain [Line Items]
Term deposit	$ 100	$ 141.9
Term deposit maturity date	Feb. 03, 2021
Foreign exchange loss	$ 9
US IPO
Net Foreign Exchange Loss Gain [Line Items]
Aggregate gross proceeds for IPO	$ 128

Income Taxes - Summary of Incom

Income Taxes - Summary of Income Tax Benefit and Current Tax Receivable (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Current tax
Current income tax credit	$ 6,299,286	$ 4,938,846	$ 5,708,767
Total	6,299,286	4,938,846	5,708,767
Deferred tax
Total income tax benefit recognized in the Statement of Profit or Loss and Other Comprehensive Income	6,299,286	4,938,846	5,708,767
(b) Current tax receivable
Research and development tax incentive credit receivable	$ 6,299,286	$ 4,972,898	$ 5,868,152

Income Taxes - Summary of Recon

Income Taxes - Summary of Reconciliation Between Income Tax Benefit and the Product of Accounting Loss Before Income Tax Multiplied by the Group's Applicable Income Tax Rate (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates [Abstract]
Accounting loss before tax	$ (99,116,657)	$ (50,283,342)	$ (16,831,966)
At the Company's statutory income tax rate of 30% (2020:27.5%)	29,734,997	15,085,003	4,628,791
R&D tax incentive on eligible expenses	6,299,286	4,938,846	5,708,767
Non-deductible R&D expenditure	(4,344,335)	(3,420,951)	(3,624,766)
Other non-deductible expenses - share-based payment expense	(1,575,472)	(1,169,291)	(201,489)
Amount of temporary differences and carried forward tax losses not recognized	(23,815,190)	(10,494,761)	(802,536)
Total income tax benefit recognized in the Statement of Profit or Loss and Other Comprehensive Income	$ 6,299,286	$ 4,938,846	$ 5,708,767

Income Taxes - Summary of Rec_2

Income Taxes - Summary of Reconciliation Between Income Tax Benefit and the Product of Accounting Loss Before Income Tax Multiplied by the Group's Applicable Income Tax Rate (Parenthetical) (Details)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Reconciliation Of Accounting Profit Multiplied By Applicable Tax Rates [Abstract]
Income tax rate	30%	27.50%

Income Taxes - Summary of Recog

Income Taxes - Summary of Recognized Deferred Tax Assets and Liabilities in Statement of Financial Position (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Deferred tax liabilities:
Deferred tax liabilities	$ (17,085)	$ (2,344,514)	$ (70,925)
Deferred tax assets related to temporary differences:
Deferred tax assets related to temporary differences	666,297	2,344,514	863,034
Net deferred tax assets	649,212		792,109
Less: temporary differences not recognized	(649,212)		(792,109)
Net deferred tax recognized in the statement of financial position	0	0
Interest and Royalty Income Receivable Future Assessable Income
Deferred tax liabilities:
Deferred tax liabilities	(17,085)	(2,344,514)	(70,925)
Recognition of Tax Losses
Deferred tax assets related to temporary differences:
Deferred tax assets related to temporary differences		1,508,764
Accrued Expenses and Other Liabilities
Deferred tax assets related to temporary differences:
Deferred tax assets related to temporary differences	198,607	205,458	303,383
Employee Provisions
Deferred tax assets related to temporary differences:
Deferred tax assets related to temporary differences	161,159	152,675	128,812
Other Miscellaneous Items
Deferred tax assets related to temporary differences:
Deferred tax assets related to temporary differences	$ 306,531	$ 477,617	$ 430,839

Income Taxes - Additional Infor

Income Taxes - Additional Information (Details)	12 Months Ended
	Jun. 30, 2022 USD ($)	Jun. 30, 2022 AUD ($)	Jun. 30, 2021 USD ($)	Jun. 30, 2021 AUD ($)	Jun. 30, 2020 USD ($)
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets related to temporary differences not recognized	$ (649,212)				$ (792,109)
Income tax losses	37,717,792		$ 20,846,641
Capital losses	412,122		672,934
Net deferred tax recognized in the statement of financial position	$ 0		$ 0
Franking account balance percentage	30%	30%	30%	30%
Franking account balance		$ 227,371		$ 227,371
Intellectual Property and Other Miscellaneous Items
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Line Items]
Deferred tax assets related to temporary differences not recognized	$ 649,212		$ 0

Earnings Per Share - Summary of

Earnings Per Share - Summary of Income Used in Basic and Diluted Earnings Per Share Computation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
(a) Earnings used in calculating earnings per share
Net loss attributable to ordinary equity holders of the parent	$ (92,817,371)	$ (45,344,496)	$ (11,123,199)
(b) Weighted average number of shares
Weighted average number of ordinary shares on issue for basic earnings per share	351,560,199	320,432,814	260,795,745
Effect of dilution:
Weighted average number of ordinary shares adjusted for the effect of dilution	351,560,199	320,432,814	260,795,745
Loss per share (basic and diluted in cents)	$ (26.40)	$ (14.15)	$ (4.27)

Earnings Per Share - Additional

Earnings Per Share - Additional Information (Details)	12 Months Ended
	Jun. 30, 2022 USD ($) shares Vote $ / shares	Jun. 30, 2021 shares	Jun. 30, 2020 shares	Jun. 30, 2019 shares
Earnings Per Share [Line Items]
Number of share options/rights outstanding in share-based payment arrangement	22,988,000	16,644,000	18,044,000	18,919,000
Outstanding options and rights exercisable	12,857,589	11,394,000	18,044,000
Disclosure - Earnings Per Share - Additional Information (Details) [Line Items]
Par value per share | $ / shares	$ 0
Voting right of ordinary shares carrying no par value | Vote	1
Dividends declared ordinary shares | $	$ 0
Dividends paid ordinary shares | $	$ 0
ADS Options
Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from the weighted average number of ordinary shares for the purpose of diluted earnings per share	925,000
Outstanding options and rights exercisable	0	0	0

Earnings Per Share - Summary _2

Earnings Per Share - Summary of Options Plans (Details) - shares	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Options
Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from the weighted average number of ordinary shares for the purpose of diluted earnings per share	21,388,000	16,644,000	18,044,000
Performance Rights
Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from the weighted average number of ordinary shares for the purpose of diluted earnings per share	1,600,000
A D S Options
Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from the weighted average number of ordinary shares for the purpose of diluted earnings per share	925,000
NED Plan | Options
Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from the weighted average number of ordinary shares for the purpose of diluted earnings per share	14,000,000	10,000,000	6,000,000
LTIP | Options
Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from the weighted average number of ordinary shares for the purpose of diluted earnings per share	7,388,000	6,644,000	12,044,000
LTIP | Performance Rights
Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from the weighted average number of ordinary shares for the purpose of diluted earnings per share	1,600,000
LTIP | A D S Options
Earnings Per Share [Line Items]
Anti-dilutive options outstanding excluded from the weighted average number of ordinary shares for the purpose of diluted earnings per share	925,000

Current Assets - Cash and Cas_3

Current Assets - Cash and Cash Equivalents - Summary of Cash and Cash Equivalents (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
Categories Of Current Financial Assets [Abstract]
Cash at bank and in hand	$ 11,853,883	$ 15,538,510
Short-term deposits	32,777,410	102,654,667
Total cash and cash equivalents	$ 44,631,293	$ 118,193,177	$ 42,650,858	$ 15,121,820

Current Assets - Cash and Cas_4

Current Assets - Cash and Cash Equivalents - Additional Information (Details) - Deposit	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Current Assets Cash And Cash Equivalents [Line Items]
Number of Australian banks containing short term deposit	2
Average interest rate of short term deposits	0.43%	0.24%	1.01%
Bottom of Range
Current Assets Cash And Cash Equivalents [Line Items]
Short term deposit period	30 days
Top of Range
Current Assets Cash And Cash Equivalents [Line Items]
Short term deposit period	90 days

Current Assets - Receivables -

Current Assets - Receivables - Summary of Current Assets - Receivables (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Current Assets Receivables [Abstract]
Interest receivable	$ 56,952	$ 37,905
GST receivable	157,060	136,239
Other receivable	43,656	391,142
Total current receivables	$ 257,668	$ 565,286

Current Assets - Receivables _2

Current Assets - Receivables - Summary of Current Assets - Receivables (Parenthetical) (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Current Assets Receivables [Abstract]
Receivables with material expected credit loss	$ 0	$ 0

Current Assets - Prepayments -

Current Assets - Prepayments - Summary of Current Assets Prepayments (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Current Prepayments [Abstract]
R&D Contract Research Organization	$ 7,428,599	$ 12,551,398
Insurance	1,086,847	1,820,059
Other prepayments	204,749	14,698
Total current prepayments	$ 8,720,195	$ 14,386,155

Non-Current Assets - Prepayme_3

Non-Current Assets - Prepayments - Summary of Non-Current Assets - Prepayments (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Disclosure Of Noncurrent Assets Prepayments [Abstract]
Insurance	$ 110,295	$ 174,541
Total non-current prepayments	$ 110,295	$ 174,541

Current Liabilities - Payables

Current Liabilities - Payables - Summary of Current Liabilities Payables (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Current Liabilities Payables [Abstract]
Accounts Payable (unsecured)	$ 11,402,164	$ 2,417,719
Payroll related tax liability	43,334	83,799
Total current payables	$ 11,445,498	$ 2,501,518

Current Liabilities - Payable_2

Current Liabilities - Payables - Summary of Current Liabilities Payables (Parenthetical) (Details)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Current Liabilities Payables [Abstract]
Accounts payable settlement terms	30 day terms	30 day terms

Current Liabilities - Provisi_3

Current Liabilities - Provisions - Summary of Current Provisions (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Current Provisions [Abstract]
Annual leave	$ 383,220	$ 289,043
Long service leave	212,983	202,959
Total current provisions	$ 596,203	$ 492,002

Non-Current Liabilities - Pro_3

Non-Current Liabilities - Provisions - Summary of Non-Current Liabilities - Provisions (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021
Noncurrent Provisions [Abstract]
Long service leave	$ 27,974	$ 16,915
Total non-current provisions	$ 27,974	$ 16,915

Contributed Equity - Summary of

Contributed Equity - Summary of Contributed Equity (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Contributed Equity [Line Items]
Issued and fully paid at June 30	$ 235,277,217	$ 234,147,526
Movement in ordinary shares:
Beginning balance	135,285,768	44,567,972	$ 21,852,139
Ending balance	$ 47,977,144	135,285,768	44,567,972
Issues of shares on Nasdaq listing	68,506,400
Movement in pre-funded warrants:
Issue of pre-funded warrants in a US initial public offering		12,645,441
Cost of issue of pre-funded warrants		(1,099,412)
Issue of shares on exercise of pre-funded warrants		$ (11,546,029)
Issue of pre-funded warrants in a US Initial public offering		7,493,600
Exercise of pre-funded warrants		(7,493,568)
Forfeiture on exercise		(32)
Ordinary Shares
Contributed Equity [Line Items]
Issued and fully paid at June 30	$ 235,277,217	$ 234,147,526	113,852,364
Movement in ordinary shares:
Beginning balance	234,147,526	113,852,364	80,331,016
Issue of shares on exercise of options granted under the LTIP	1,129,691	3,271,542	284,828
Issue of shares on Nasdaq listing net of issuance cost $10,126,959		105,477,591
Issue of shares on exercise of pre-funded warrants net of issuance cost $1,099,412		11,546,029
Ending balance	$ 235,277,217	$ 234,147,526	$ 113,852,364
Ordinary Shares on Issue
Movement in ordinary shares:
Opening balance	351,003,541	269,157,769	249,414,839
Issue of shares on exercise of options granted under the LTIP	1,149,001	5,845,804
Issues of shares on Nasdaq listing		68,506,400
Issue of share on exercise of pre-funded warrants		7,493,568
Ending balance	352,152,542	351,003,541	269,157,769

Contributed Equity - Summary _2

Contributed Equity - Summary of Contributed Equity (Parenthetical) (Details)	12 Months Ended
	Jun. 30, 2021 USD ($)
NASDAQ Listing
Contributed Equity [Line Items]
Shares issuance cost	$ 10,126,959
Exercise of Warrants
Contributed Equity [Line Items]
Shares issuance cost	$ 1,099,412

Contributed Equity - Additional

Contributed Equity - Additional Information (Details)	12 Months Ended
	Jun. 30, 2022 USD ($) shares Vote Scheme $ / shares	Jun. 30, 2021 USD ($) shares $ / shares	Jun. 30, 2020 USD ($) shares
Contributed Equity [Line Items]
Par value per share | $ / shares	$ 0
Number of vote per share | Vote	1
Dividends paid ordinary shares | $	$ 0
Issued Capital | $	$ 235,277,217	$ 234,147,526
Fully paid ordinary shares	352,152,542
Shares issued on NASDAQ Listing	68,506,400
Net proceeds from issuance of ordinary shares on Nasdaq listing | $	$ 105,477,591
Issuance of prefunded warrants	7,493,568
Net proceeds from issuance of prefunded warrants | $	$ 11,546,029
Number of non-executive director options unexercised	7,500,000	6,750,000
Number of share based payment schemes | Scheme	2
Number of options granted	8,400,000	7,000,000
Cash received for ordinary shares issued on exercise of options | $	$ 257,175		$ 284,828
Issue of pre-funded warrants in initial public offering		7,493,600
Issue of shares on exercise of pre-funded warrants value, net of issuance cost | $		$ 11,546,029
Warrants exercise price | $ / shares	$ 0.00001
Pre-funded warrants description	The pre‑funded warrants were unquoted, having no voting or dividend rights and are exercisable to ADS’s at an exercise price of US$0.00001 per pre‑funded warrant on a one for one basis with no expiry date.     On June 21, 2021 all pre-funded warrants were exercised, converting to ADS’s.
Options Over Ordinary Shares
Contributed Equity [Line Items]
Number of options granted	8,400,000	7,000,000	0
Weighted average fair value per option at grant date | $ / shares	$ 0.781	$ 1.03
Options Over Ordinary Shares | A D S Options
Contributed Equity [Line Items]
Number of options granted	925,000
Weighted average fair value per option at grant date | $ / shares	$ 6.75
LTIP and NED Plan
Contributed Equity [Line Items]
Number of options granted	2,056,000	8,400,000	0
Cash received for ordinary shares issued on exercise of options | $	$ 1,129,691	$ 3,271,542
LTIP and NED Plan | Cash Conversion
Contributed Equity [Line Items]
Cash received for ordinary shares issued on exercise of options | $	257,175
LTIP and NED Plan | Cashless Conversion
Contributed Equity [Line Items]
Cash received for ordinary shares issued on exercise of options | $	$ 872,516
Expiry of November 2022
Contributed Equity [Line Items]
Number of non-executive director options unexercised	3,000,000	3,000,000
Expiry of October 2024
Contributed Equity [Line Items]
Number of non-executive director options unexercised	2,000,000	1,000,000
Expiry of January 2022
Contributed Equity [Line Items]
Number of non-executive director options unexercised		750,000
Expiry of January 2025
Contributed Equity [Line Items]
Number of non-executive director options unexercised	1,500,000
Expiry of October 2025
Contributed Equity [Line Items]
Number of non-executive director options unexercised	500,000
Expiry of April 2026
Contributed Equity [Line Items]
Number of non-executive director options unexercised	500,000

Accumulated Losses and Reserv_3

Accumulated Losses and Reserves - Summary of Accumulated Losses and Reserves (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Reserves Within Equity [Line Items]
Net loss for the year	$ (92,817,371)	$ (45,344,496)	$ (11,123,199)
Total reserves	29,641,280	25,262,224
Movements in Accumulated Losses
Disclosure Of Reserves Within Equity [Line Items]
Beginning balance	(124,123,982)	(78,779,486)	(67,656,287)
Net loss for the year	(92,817,371)	(45,344,496)	(11,123,199)
Ending balance	(216,941,353)	(124,123,982)	(78,779,486)
Reserves
Disclosure Of Reserves Within Equity [Line Items]
Fair value of Investments reserve	1,085,411	1,085,411	551,409
Share-based payments reserve	8,466,706	4,087,650	3,116,080
Foreign translation reserve	20,089,163	20,089,163	5,827,605
Total reserves	29,641,280	25,262,224	9,495,094
Movement in Fair Value of Investments Reserve
Disclosure Of Reserves Within Equity [Line Items]
Opening balance	1,085,411	551,409	517,700
Fair value on gains on investments in financial assets		469,767	41,098
Exchange on translation		64,235	(7,389)
Closing balance	1,085,411	1,085,411	551,409
Movement in Share-Based Payments Reserve
Disclosure Of Reserves Within Equity [Line Items]
Opening balance	4,087,650	3,116,080	2,401,769
Share-based payments reserve	5,251,572	3,897,638	732,688
Exercise of options	(872,516)	(3,271,542)	(284,828)
Exchange on translation		345,474	266,451
Closing balance	8,466,706	4,087,650	3,116,080
FX Translation Reserve
Disclosure Of Reserves Within Equity [Line Items]
Opening balance	20,089,163	5,827,605	6,257,941
(Gains)/loss on translation		14,261,558	(430,336)
Closing balance	$ 20,089,163	$ 20,089,163	$ 5,827,605

Financial Risk Management Obj_3

Financial Risk Management Objectives and Policies - Summary of Judgments of Reasonably Possible Movements (Details) - Post tax (loss)/profit impact [Member] - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
+0.50% (50 basis points) (2021:+0.50%)
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items]
Judgments of reasonably possible movements	$ 114,859	$ 359,442	$ 137,676
-0.50% (50 basis points) (2021:-0.50%)
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items]
Judgments of reasonably possible movements	(114,859)	(359,442)	(137,676)
AUD/USD +10% (2021:+10%)
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items]
Judgments of reasonably possible movements	(2,119,834)	(2,538,062)	219,569
AUD/USD -10% (2021:-10%)
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items]
Judgments of reasonably possible movements	$ 2,590,908	$ 3,102,076	$ (268,361)

Financial Risk Management Obj_4

Financial Risk Management Objectives and Policies - Summary of Judgments of Reasonably Possible Movements (Parenthetical) (Details)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Abstract]
Judgments of reasonably possible movements percentage	0.50%	0.50%	0.50%
Judgments of reasonably possible movements change in percentage	10%	10%	10%

Financial Risk Management Obj_5

Financial Risk Management Objectives and Policies - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items]
Borrowings	$ 0
Tax effect	$ 0	$ 0	$ 0
Description of interest rate calculation due to reasonably possible movements	The reasonably possible movement of 0.5% was calculated by taking the interest rates as of balance date, moving these by plus and minus 0.5% and then re‑calculating the interest on term deposits with the ‘new‑interest‑rate’.
Description of calculation of reasonably possible movement related to currency risk	The reasonably possible movement of 10% was calculated by taking the currency spot rates as of balance date, moving these by 10% and then re‑converting the currencies into US with the ‘new‑spot‑rate’.
Percentage of net sales	7%
Liquidity risk description	The Group manages liquidity risk by maintaining adequate reserves and by monitoring forecast and actual cash flows and by matching the maturity profiles of financial assets and liabilities. The financial liabilities of the Group relate to trade payables that are all expected to be paid within 12 months. With the funding agreement that was entered on August 12, 2022 the Group may incur a total payment equal to approximately four times the funding provided, consisting of seven payments, with the first payment due shortly after Regulatory Approval and the remaining six payments payable over a six-year period thereafter, and variable payments equal to 7% of net sales of OPT-302 for the treatment of wet AMD for each calendar quarter.
Bottom of Range
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items]
Short term deposit period	30 days
Top of Range
Disclosure Of Risk Management Strategy Related To Hedge Accounting [Line Items]
Short term deposit period	90 days

Financial Risk Management Obj_6

Financial Risk Management Objectives and Policies - Summary of Exposure to Foreign Currency Risk (Details) - Currency Risk - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
AUD
Financial liabilities
Net exposure	$ 33,311,678	$ 39,883,834
AUD | Cash
Financial assets
Changes in financial assets due to foreign currency risk exposure	26,697,582	35,646,457
AUD | Receivables
Financial assets
Changes in financial assets due to foreign currency risk exposure	7,827,565	5,513,541
AUD | Payables
Financial liabilities
Changes in financial liabilities due to foreign currency risk exposure	(1,213,469)	(1,276,164)
EUR
Financial liabilities
Net exposure	(435,698)	(41,872)
EUR | Payables
Financial liabilities
Changes in financial liabilities due to foreign currency risk exposure	(435,698)	(41,872)
GBP
Financial liabilities
Net exposure	(3,037)
GBP | Payables
Financial liabilities
Changes in financial liabilities due to foreign currency risk exposure	(3,037)
CAD
Financial liabilities
Net exposure	(13,419)	(1,290)
CAD | Payables
Financial liabilities
Changes in financial liabilities due to foreign currency risk exposure	$ (13,419)	$ (1,290)

Related Party Disclosures - Sum

Related Party Disclosures - Summary of Consolidated Financial Statements Include Financial Statements of Opthea Limited and Subsidiaries (Details)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2019
Vegenics Pty Ltd
Disclosure Of Equity Interest In Subsidiaries [Line Items]
Ownership percentage in subsidiary	100%	100%	100%
Opthea US Inc
Disclosure Of Equity Interest In Subsidiaries [Line Items]
Ownership percentage in subsidiary	100%	100%

Commitments - Summary of Expend

Commitments - Summary of Expenditure Commitments Relating to Services for Clinical Trial and Intellectual Property License Agreements (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Commitments [Line Items]
Expenditure commitments relating to services for clinical trial and intellectual property license agreements	$ 48,000,102	$ 28,724,838	$ 8,029,140
Within One Year
Commitments [Line Items]
Expenditure commitments relating to services for clinical trial and intellectual property license agreements	39,947,900	26,377,778	7,660,325
After One Year but not more than Five Years
Commitments [Line Items]
Expenditure commitments relating to services for clinical trial and intellectual property license agreements	8,007,202	$ 2,347,060	293,815
After more than Five Years
Commitments [Line Items]
Expenditure commitments relating to services for clinical trial and intellectual property license agreements	$ 45,000		$ 75,000

Commitments - Additional Inform

Commitments - Additional Information (Details)	12 Months Ended
	Jun. 30, 2022
Commitments [Abstract]
Termination clause of biggest research contract	60 days
Maximum commitment term	6 months
Termination clause of biggest contract	60 days
Maximum commercial commitment term	12 months

Commitments - Summary of Commer

Commitments - Summary of Commercial Commitments (Details)	Jun. 30, 2022 USD ($)
Commitments [Line Items]
Commercial commitments	$ 507,874
Within One Year
Commitments [Line Items]
Commercial commitments	$ 507,874

Contingencies - Additional Info

Contingencies - Additional Information (Details) - USD ($)	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Contingent Liabilities [Line Items]
Bank guarantee outstanding in respect of rental deposit	$ 39,478	$ 43,000
Within One Year
Disclosure Of Contingent Liabilities [Line Items]
Amount payable	0	$ 0
More Than One Year
Disclosure Of Contingent Liabilities [Line Items]
Amount payable	$ 11,512,675		$ 11,548,205

Cash Flow Statements Reconcil_3

Cash Flow Statements Reconciliation - Summary of Cash Flow Statements Reconciliation (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2019
(a) Reconciliation to cash at the end of the year
Cash at bank and in hand	$ 44,631,293	$ 118,193,177	$ 42,650,858
Cash and cash equivalents	44,631,293	118,193,177	42,650,858	$ 15,121,820
(b) Reconciliation of net loss after tax to net cash flows from operations
Net loss for the year	(92,817,371)	(45,344,496)	(11,123,199)
Adjustments for:
Income tax benefit recognized in profit or loss	(6,299,286)	(4,938,846)	(5,708,767)
Net loss of disposal of non-current assets	169	1,434	1,243
Depreciation of non-current assets	11,917	15,012	14,926
Depreciation of right-of-use assets	66,465	91,656	81,611
Share-based payments expense	5,251,572	3,897,638	732,688
Net exchange differences	2,813,993	11,011,961	265,989
Adjustments to reconcile profit (loss)	1,844,830	10,077,421	(4,613,553)
Changes in:
Payables	8,511,607	(1,552,443)	(125,492)
Receivables	307,618	(369,712)	12,127
Prepayments	5,730,207	(14,231,546)	(30,994)
Provisions	115,259	40,510	72,794
Net cash flows used in operating activities before tax	(76,307,850)	(51,380,266)	(15,808,317)
R&D tax incentive received	4,972,898	5,834,099	10,118,697
Net cash flows used in operating activities	(71,334,952)	(45,546,167)	(5,689,620)
(c) Reconciliation of borrowings arising from financing activities
Beginning Balance	93,852	167,460
Non-cash addition			251,189
Payment of lease liabilities	(85,578)	(87,373)	(66,781)
Exchange on translation	$ (8,274)	13,765	(16,948)
Ending Balance		$ 93,852	$ 167,460

Key Management Personnel - Sche

Key Management Personnel - Schedule of Compensation of Key Management Personnel (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Transactions Between Related Parties [Abstract]
Short-term employee benefits	$ 1,555,658	$ 1,099,081	$ 680,954
Post-employment benefits	56,105	79,550	64,632
Share-based payments expense	4,664,767	3,897,638	420,751
Key management personnel compensation	$ 6,276,530	$ 5,076,269	$ 1,166,337

Key Management Personnel - Addi

Key Management Personnel - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021
Director and Key Management Personnel
Disclosure Of Transactions Between Related Parties [Line Items]
Related party transactions	$ 0	$ 0

Share-Based Payments - Summary

Share-Based Payments - Summary of Recognized Share Based Payment Expenses (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020
Disclosure Of Detailed Information About Recognized Share Based Payment Expenses [Abstract]
Director and employee services received	$ 5,251,572	$ 3,897,638	$ 732,688

Share-Based Payments - Addition

Share-Based Payments - Additional Information (Details) - USD ($)	12 Months Ended
	Jun. 30, 2022	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2015
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of employee share converts into ordinary share on exercise				1
Amounts paid or payable by recipient on receipt of option				$ 0
Share options outstanding at end of year weighted average exercise price	$ 0.97	$ 0.86	$ 0.50
Weighted average remaining contractual life	567 days	628 days	626 days
Bottom of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Historical share price volatility period	4 years
Bottom of Range | A D S Options
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Historical share price volatility period	4 years
Top of Range
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Historical share price volatility period	5 years
Top of Range | A D S Options
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Historical share price volatility period	5 years

Share-Based Payments - Summar_2

Share-Based Payments - Summary of Fair Value of Share Options Granted (Details)	12 Months Ended
	Jun. 30, 2022 $ / shares
LTIP - Director FY2016
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 0.360
Grant date share price	0.280
Fair value per option US	$ 0.140
Expected volatility	65%
Option life	5 years
Dividend yield	0%
Risk free interest rate	2.09%
Model used	Binomial
LTIP - Director FY2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 0.625
Grant date share price	0.420
Fair value per option US	$ 0.150
Expected volatility	58%
Option life	4 years
Dividend yield	0%
Risk free interest rate	2.04%
Model used	Binomial
LTIP - employees FY2016
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 0.370
Grant date share price	0.540
Fair value per option US	$ 0.180
Expected volatility	65%
Option life	5 years
Dividend yield	0%
Risk free interest rate	2.09%
Model used	Binomial
LTIP - Employees FY2018
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 0.920
Grant date share price	0.340
Fair value per option US	$ 0.260
Expected volatility	66%
Option life	5 years
Dividend yield	0%
Risk free interest rate	2.09%
Model used	Binomial
LTIP - Employees FY2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 0.608
Grant date share price	0.480
Fair value per option US	$ 0.180
Expected volatility	57%
Option life	4 years
Dividend yield	0%
Risk free interest rate	2.04%
Model used	Binomial
LTIP - Employees FY2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 0.948
Grant date share price	0.955
Fair value per option US	$ 0.526
Expected volatility	74.78%
Option life	4 years
Dividend yield	0%
Risk free interest rate	0.25%
Model used	Binomial
LTIP - Employees FY2022 Two
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date share price	$ 0.955
Fair value per option US	$ 0.955
Option life	10 years
Dividend yield	0%
Model used	n/a
LTIP - Employees FY2022 Three
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 1.460
Grant date share price	0.901
Fair value per option US	$ 0.553
Expected volatility	75%
Option life	6 years 6 months
Dividend yield	0%
Risk free interest rate	3.40%
Model used	Binomial
NED Plan FY2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 0.945
Grant date share price	0.955
Fair value per option US	$ 0.526
Expected volatility	74.78%
Option life	4 years
Dividend yield	0%
Risk free interest rate	0.25%
Model used	Binomial
NED Plan FY2022 Two
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 0.755
Grant date share price	0.741
Fair value per option US	$ 0.397
Expected volatility	75%
Option life	3 years 6 months
Dividend yield	0%
Risk free interest rate	2.70%
Model used	Binomial
NED Plan FY2016
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 0.360
Grant date share price	0.280
Fair value per option US	$ 0.140
Expected volatility	65%
Option life	5 years
Dividend yield	0%
Risk free interest rate	2.09%
Model used	Binomial
NED Plan FY2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 0.625
Grant date share price	0.420
Fair value per option US	$ 0.150
Expected volatility	58%
Option life	4 years
Dividend yield	0%
Risk free interest rate	2.04%
Model used	Binomial
NED Plan FY2021
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 2.160
Grant date share price	2.190
Fair value per option US	$ 1.240
Expected volatility	77.25%
Option life	4 years
Dividend yield	0%
Risk free interest rate	0.25%
Model used	Binomial
NED Plan FY2021 Two
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 3.240
Grant date share price	2.190
Fair value per option US	$ 1.050
Expected volatility	77.25%
Option life	4 years
Dividend yield	0%
Risk free interest rate	0.25%
Model used	Binomial
NED Plan FY2021 Three
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 1.560
Grant date share price	1.560
Fair value per option US	$ 0.880
Expected volatility	77.01%
Option life	4 years
Dividend yield	0%
Risk free interest rate	0.25%
Model used	Binomial
LTIP - Employee 2022 | ADS Options
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 7.625
Grant date share price	7.240
Fair value per option US	$ 4.970
Expected volatility	75%
Option life	7 years
Dividend yield	0%
Risk free interest rate	1.40%
Model used	Binomial
LTIP - Employee 2022 Two | ADS Options
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 7.515
Grant date share price	7.500
Fair value per option US	$ 5.228
Expected volatility	75%
Option life	7 years
Dividend yield	0%
Risk free interest rate	1.70%
Model used	Binomial
LTIP - Employee 2022 Three | ADS Options
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 6.009
Grant date share price	5.925
Fair value per option US	$ 4.116
Expected volatility	75%
Option life	7 years
Dividend yield	0%
Risk free interest rate	1.70%
Model used	Binomial
LTIP - Employee 2022 Four | ADS Options
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 6.090
Grant date share price	5.915
Fair value per option US	$ 4.171
Expected volatility	75%
Option life	7 years
Dividend yield	0%
Risk free interest rate	2.90%
Model used	Binomial
LTIP - Employee 2022 Five | ADS Options
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 7.116
Grant date share price	7
Fair value per option US	$ 4.953
Expected volatility	75%
Option life	7 years
Dividend yield	0%
Risk free interest rate	2.90%
Model used	Binomial
LTIP - Employee 2022 Six | ADS Options
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 7.445
Grant date share price	7.309
Fair value per option US	$ 5.175
Expected volatility	75%
Option life	7 years
Dividend yield	0%
Risk free interest rate	3%
Model used	Binomial
LTIP - Employee 2022 Seven | ADS Options
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Exercise price	$ 5.522
Grant date share price	5.500
Fair value per option US	$ 3.886
Expected volatility	75%
Option life	7 years
Dividend yield	0%
Risk free interest rate	3.40%
Model used	Binomial
Non Executive Director and Employee Share Option Plans | LTIP - Director FY2016
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	March 7,2016
Grant date fair value	$ 0.140
Exercise price	$ 0.360
Expiry date	Mar. 07, 2021
Vesting date	Jun. 30, 2016
Non Executive Director and Employee Share Option Plans | LTIP - Director FY2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	November 29, 2018
Grant date fair value	$ 0.150
Exercise price	$ 0.625
Expiry date	Nov. 29, 2022
Vesting date	Nov. 29, 2019
Non Executive Director and Employee Share Option Plans | LTIP - employees FY2016
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	March 31, 2016
Grant date fair value	$ 0.180
Exercise price	$ 0.370
Expiry date	Jan. 01, 2022
Vesting date	Jan. 01, 2017
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2018
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	August 23, 2017
Grant date fair value	$ 0.260
Exercise price	$ 0.920
Expiry date	Jan. 01, 2023
Vesting date	Jun. 30, 2018
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	April 3, 2019
Grant date fair value	$ 0.180
Exercise price	$ 0.608
Expiry date	Apr. 03, 2023
Vesting date	Apr. 03, 2021
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.955
Exercise price	$ 0
Expiry date	Oct. 18, 2031
Vesting date	Oct. 19, 2021
Non Executive Director and Employee Share Option Plans | NED Plan FY2021 Seven
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 12, 2020
Grant date fair value	$ 1.240
Exercise price	$ 2.160
Expiry date	Oct. 11, 2024
Vesting date	Oct. 12, 2022
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Two
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.955
Exercise price	$ 0
Expiry date	Oct. 18, 2031
Vesting date	Oct. 19, 2022
Non Executive Director and Employee Share Option Plans | NED Plan FY2021 Eight
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 12, 2020
Grant date fair value	$ 1.240
Exercise price	$ 2.160
Expiry date	Oct. 11, 2024
Vesting date	Oct. 12, 2023
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Three
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.955
Exercise price	$ 0
Expiry date	Oct. 18, 2031
Vesting date	Oct. 19, 2023
Non Executive Director and Employee Share Option Plans | NED Plan FY2021 Nine
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	January 19, 2021
Grant date fair value	$ 0.880
Exercise price	$ 1.560
Expiry date	Jan. 18, 2025
Vesting date	Jan. 19, 2021
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Four
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.955
Exercise price	$ 0
Expiry date	Oct. 18, 2031
Vesting date	Jan. 31, 2023
Non Executive Director and Employee Share Option Plans | NED Plan FY2021 Ten
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	January 19, 2021
Grant date fair value	$ 0.880
Exercise price	$ 1.560
Expiry date	Jan. 18, 2025
Vesting date	Jan. 19, 2022
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Five
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.955
Exercise price	$ 0
Expiry date	Oct. 18, 2031
Vesting date	Nov. 30, 2022
Non Executive Director and Employee Share Option Plans | NED Plan FY2021 Eleven
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	January 19, 2021
Grant date fair value	$ 0.880
Exercise price	$ 1.560
Expiry date	Jan. 18, 2025
Vesting date	Jan. 19, 2023
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Six
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.955
Exercise price	$ 0
Expiry date	Oct. 18, 2031
Vesting date	Apr. 30, 2023
Non Executive Director and Employee Share Option Plans | NED Plan FY2021 Twelve
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	January 19, 2021
Grant date fair value	$ 0.880
Exercise price	$ 1.560
Expiry date	Jan. 18, 2025
Vesting date	Jan. 19, 2024
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Seven
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.955
Exercise price	$ 0
Expiry date	Oct. 18, 2031
Vesting date	Apr. 30, 2023
Non Executive Director and Employee Share Option Plans | NED Plan FY2022
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.526
Exercise price	$ 0.948
Expiry date	Oct. 18, 2025
Vesting date	Oct. 19, 2021
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Eight
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.955
Exercise price	$ 0
Expiry date	Oct. 18, 2031
Vesting date	Sep. 30, 2024
Non Executive Director and Employee Share Option Plans | NED Plan FY2022 Two
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.526
Exercise price	$ 0.948
Expiry date	Oct. 18, 2025
Vesting date	Oct. 19, 2022
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Nine
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.526
Exercise price	$ 0.948
Expiry date	Oct. 18, 2025
Vesting date	Oct. 19, 2021
Non Executive Director and Employee Share Option Plans | NED Plan FY2022 Three
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.526
Exercise price	$ 0.948
Expiry date	Oct. 18, 2025
Vesting date	Oct. 19, 2023
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Ten
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.526
Exercise price	$ 0.948
Expiry date	Oct. 18, 2025
Vesting date	Oct. 19, 2022
Non Executive Director and Employee Share Option Plans | NED Plan FY2022 Four
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.526
Exercise price	$ 0.948
Expiry date	Oct. 18, 2025
Vesting date	Oct. 19, 2024
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Eleven
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.526
Exercise price	$ 0.948
Expiry date	Oct. 18, 2025
Vesting date	Oct. 19, 2023
Non Executive Director and Employee Share Option Plans | NED Plan FY2022 Five
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	April 21, 2022
Grant date fair value	$ 0.397
Exercise price	$ 0.755
Expiry date	Apr. 20, 2026
Vesting date	Apr. 21, 2022
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Twelve
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 19, 2021
Grant date fair value	$ 0.526
Exercise price	$ 0.948
Expiry date	Oct. 18, 2025
Vesting date	Oct. 19, 2024
Non Executive Director and Employee Share Option Plans | NED Plan FY2022 Six
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	April 21, 2022
Grant date fair value	$ 0.397
Exercise price	$ 0.755
Expiry date	Apr. 20, 2026
Vesting date	Apr. 21, 2023
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Thirteen
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	June 6, 2022
Grant date fair value	$ 0.553
Exercise price	$ 1.460
Expiry date	Jun. 05, 2032
Vesting date	Jun. 06, 2022
Non Executive Director and Employee Share Option Plans | NED Plan FY2022 Seven
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	April 21, 2022
Grant date fair value	$ 0.397
Exercise price	$ 0.755
Expiry date	Apr. 20, 2026
Vesting date	Apr. 21, 2024
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Fourteen
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	June 6, 2022
Grant date fair value	$ 0.553
Exercise price	$ 1.460
Expiry date	Jun. 05, 2032
Vesting date	Jun. 06, 2023
Non Executive Director and Employee Share Option Plans | NED Plan FY2022 Eight
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	April 21, 2022
Grant date fair value	$ 0.397
Exercise price	$ 0.755
Expiry date	Apr. 20, 2026
Vesting date	Apr. 21, 2025
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Fifteen
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	June 6, 2022
Grant date fair value	$ 0.553
Exercise price	$ 1.460
Expiry date	Jun. 05, 2032
Vesting date	Jun. 06, 2024
Non Executive Director and Employee Share Option Plans | LTIP - Employees FY2022 Sixteen
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	June 6, 2022
Grant date fair value	$ 0.553
Exercise price	$ 1.460
Expiry date	Jun. 05, 2032
Vesting date	Jun. 06, 2025
Non Executive Director and Employee Share Option Plans | NED Plan FY2016
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	March 7,2016
Grant date fair value	$ 0.140
Exercise price	$ 0.360
Expiry date	Mar. 07, 2021
Vesting date	Jun. 30, 2016
Non Executive Director and Employee Share Option Plans | NED Plan FY2019
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	November 29, 2018
Grant date fair value	$ 0.150
Exercise price	$ 0.625
Expiry date	Nov. 29, 2022
Vesting date	Nov. 29, 2019
Non Executive Director and Employee Share Option Plans | NED Plan FY2021
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 12, 2020
Grant date fair value	$ 1.050
Exercise price	$ 3.240
Expiry date	Oct. 11, 2024
Vesting date	Oct. 12, 2020
Non Executive Director and Employee Share Option Plans | NED Plan FY2021 Two
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 12, 2020
Grant date fair value	$ 1.050
Exercise price	$ 3.240
Expiry date	Oct. 11, 2024
Vesting date	Oct. 12, 2021
Non Executive Director and Employee Share Option Plans | NED Plan FY2021 Three
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 12, 2020
Grant date fair value	$ 1.050
Exercise price	$ 3.240
Expiry date	Oct. 11, 2024
Vesting date	Oct. 12, 2022
Non Executive Director and Employee Share Option Plans | NED Plan FY2021 Four
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 12, 2020
Grant date fair value	$ 1.050
Exercise price	$ 3.240
Expiry date	Oct. 11, 2024
Vesting date	Oct. 12, 2023
Non Executive Director and Employee Share Option Plans | NED Plan FY2021 Five
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 12, 2020
Grant date fair value	$ 1.240
Exercise price	$ 2.160
Expiry date	Oct. 11, 2024
Vesting date	Oct. 12, 2020
Non Executive Director and Employee Share Option Plans | NED Plan FY2021 Six
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Grant date	October 12, 2020
Grant date fair value	$ 1.240
Exercise price	$ 2.160
Expiry date	Oct. 11, 2024
Vesting date	Oct. 12, 2021

Share-Based Payments - Summar_3

Share-Based Payments - Summary of Share/Rights Options Outstanding (Details)	12 Months Ended
	Jun. 30, 2022 shares $ / shares	Jun. 30, 2021 shares $ / shares	Jun. 30, 2020 shares $ / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract]
Balance, number of options and rights | shares	16,644,000	18,044,000	18,919,000
Number of options granted | shares	8,400,000	7,000,000
Exercised during the year, number of options and rights | shares	(2,056,000)	(8,400,000)	(875,000)
Balance, number of options and rights | shares	22,988,000	16,644,000	18,044,000
Outstanding options and rights exercisable | shares	12,857,589	11,394,000	18,044,000
Balance, weighted average exercise price | $ / shares	$ 1.28	$ 0.50	$ 0.50
To employees and directors under the LTIP and NED Plan, weighted average exercise price | $ / shares	0.77	2.21
Exercised during the year, weighted average exercise price | $ / shares	0.55	0.36	0.37
Balance, weighted average exercise price | $ / shares	1.16	1.28	0.50
Exercisable at end of year, weighted average exercise price | $ / shares	$ 0.97	$ 0.86	$ 0.50

Share-Based Payments - Summar_4

Share-Based Payments - Summary of ADS Options Outstanding (Details)	12 Months Ended
	Jun. 30, 2022 shares $ / shares	Jun. 30, 2021 shares $ / shares	Jun. 30, 2020 shares $ / shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Balance, number of options and rights | shares	16,644,000	18,044,000	18,919,000
Number of options granted | shares	8,400,000	7,000,000
Exercised during the year, number of options and rights | shares	(2,056,000)	(8,400,000)	(875,000)
Balance, number of options and rights | shares	22,988,000	16,644,000	18,044,000
Outstanding options and rights exercisable | shares	12,857,589	11,394,000	18,044,000
Balance, weighted average exercise price | $ / shares	$ 1.28	$ 0.50	$ 0.50
To employees and directors under the LTIP and NED Plan, weighted average exercise price | $ / shares	0.77	2.21
Exercised during the year, weighted average exercise price | $ / shares	0.55	0.36	0.37
Balance, weighted average exercise price | $ / shares	1.16	1.28	0.50
Exercisable at end of year, weighted average exercise price | $ / shares	$ 0.97	$ 0.86	$ 0.50
American Depository Shares
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Line Items]
Number of options granted | shares	925,000
Balance, number of options and rights | shares	925,000
To employees and directors under the LTIP and NED Plan, weighted average exercise price | $ / shares	$ 6.75
Balance, weighted average exercise price | $ / shares	$ 6.75

Events After The Balance Shee_2

Events After The Balance Sheet Date - Additional Information (Details) $ / shares in Units, $ / shares in Units, $ in Thousands					12 Months Ended
	Sep. 26, 2022 USD ($) shares	Sep. 26, 2022 AUD ($) shares	Aug. 12, 2022 USD ($) Tranche $ / shares shares	Aug. 12, 2022 AUD ($) Tranche $ / shares shares	Jun. 30, 2022	Jun. 30, 2021 USD ($)	Jun. 30, 2020 USD ($)
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Percentage of net sales					7%
Net proceeds on issue of shares						$ 105,477,591	$ 32,951,692
Events after Reporting Period
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Proceeds from issuance of ordinary shares	$ 618,000	$ 940
Events after Reporting Period | Ordinary shares [member]
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Number of ordinary shares issued | shares	817,824	817,824
Events after Reporting Period | Development Agreement and Pipe Funding
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Amount committed by investor			$ 170,000,000
Aggregate amount received by investor			680,000,000
Pipeline funding Initial payment			$ 50,000,000
Number of tranches available for remaining payment | Tranche			2	2
Tranche two payment date			Dec. 31, 2022	Dec. 31, 2022
Tranche three payment date			Dec. 31, 2023	Dec. 31, 2023
Percentage of net sales			7%	7%
Proceeds from issuance of ordinary shares	$ 618,000	$ 940
Events after Reporting Period | Development Agreement and Pipe Funding | Ordinary shares [member]
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Number of ordinary shares issued | shares	817,824	817,824
Events after Reporting Period | Development Agreement and Pipe Funding | Private Placement of Ordinary Shares or American Depositary Shares ("ADS’s")
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Number of ordinary shares per ADS			8	8
Net proceeds on issue of shares			$ 70,000,000
Events after Reporting Period | Development Agreement and Pipe Funding | Pipe
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Net proceeds on issue of shares			$ 90,000,000
Price per ordinary share | (per share)			$ 0.81	$ 1.15
Events after Reporting Period | Development Agreement and Pipe Funding | Pipe | First Tranche
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Net proceeds on issue of shares			$ 41,900,000	$ 60,700
Number of new ordinary shares that may be issued | shares			52,800,000	52,800,000
Events after Reporting Period | Development Agreement and Pipe Funding | Pipe | Second Tranche
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Net proceeds on issue of shares			$ 47,500,000
Number of new ordinary shares that may be issued | shares			59,000,000	59,000,000
Events after Reporting Period | Minimum | Development Agreement and Pipe Funding
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Amount committed by investor			$ 120,000,000
Events after Reporting Period | Maximum | Development Agreement and Pipe Funding
Disclosure Of Nonadjusting Events After Reporting Period [Line Items]
Amount committed by investor			$ 170,000,000