24/7 Market News Snapshot 28 February, 2025 – Outlook Therapeutics, Inc. Common Stock (NASDAQ:OTLK)

February 28, 2025

DENVER, Colo., 28 February, 2025 (247marketnews.com) – (Nasdaq:OTLK) are discussed in this article.
Outlook Therapeutics, Inc. (Nasdaq:OTLK), a leading biopharmaceutical company, successfully opened trading today at $1.39 and is currently priced at $1.545, marking a remarkable increase of about 11.96% from yesterday’s close of $1.38. With trading volume reaching 1.03 million shares, this surge indicates heightened investor interest and possibly bullish market sentiment. The stock’s movement above its previous session’s high suggests a potential breakout, leading traders to monitor key resistance levels around $1.60 while maintaining support near the opening price of $1.39. Sustained momentum may hinge on new developments or forthcoming earnings reports.

In a significant advancement for the company, Outlook Therapeutics has attained regulatory approval in the European Union and the United Kingdom for the first authorized use of a specialized ophthalmic formulation of bevacizumab to treat wet age-related macular degeneration (wet AMD). The recent resubmission of its Biologics License Application (BLA) to the U.S. Food and Drug Administration (FDA) for ONS-5010, intended to be branded as LYTENAVA™ (bevacizumab-vikg), represents a critical milestone in the company’s strategy to fulfill patient needs for effective treatments in this area.

Lawrence Kenyon, Chief Financial Officer and Interim CEO, highlighted the significance of this resubmission, emphasizing the team’s commitment to addressing the FDA’s requirements and incorporating compelling evidence to support ONS-5010’s approval. Grounded in the successful NORSE EIGHT trial, which demonstrated the product’s efficacy and safety profile, the application also presents additional data concerning chemistry, manufacturing, and controls as requested. With an FDA decision expected within six months, the outlook for ONS-5010 remains optimistic. If cleared, it will be the first approved ophthalmic formulation of bevacizumab for retinal conditions, enhancing treatment options for patients—a transformative moment for both Outlook Therapeutics and the field of retinal disease management.

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