Outlook Therapeutics Inc - OTLK STOCK NEWS

Outlook Therapeutics (OTLK) reported financial results for Q1 FY2025 and provided key updates. The company plans to resubmit its ONS-5010 BLA in Q1 2025, with potential FDA approval expected in Q3 2025. Commercial launches of LYTENAVA™ (bevacizumab gamma) are planned for Germany and UK in Q2 2025, marking the first authorized ophthalmic formulation of bevacizumab for wet AMD treatment in these regions.

For Q1 FY2025, OTLK reported net income of $17.4 million ($0.72 per share), compared to a net loss of $11.2 million ($0.86 per share) in the same period last year. The company had cash and cash equivalents of $5.7 million as of December 31, 2024, with additional $17.8 million received in January 2025 from warrant exercises.

In the NORSE EIGHT trial, while ONS-5010 missed the primary endpoint at week 8, it met non-inferiority margins at week 12, showing mean visual acuity improvements and similar anatomical response compared to ranibizumab.

Outlook Therapeutics (OTLK) announced that Dr. Jennifer Kissner, SVP Clinical Development, participated in a Virtual Investor segment to discuss the NORSE EIGHT clinical trial results. The segment focuses on the complete 12-week safety and efficacy data for ONS-5010, their ophthalmic bevacizumab formulation for wet AMD treatment.

The company, which has already secured regulatory approval in the European Union and United Kingdom for the first authorized ophthalmic bevacizumab formulation to treat wet age-related macular degeneration, plans to resubmit its Biologics License Application (BLA) in Q1 2025. NORSE EIGHT represents the second of two adequate and well-controlled clinical trials evaluating ONS-5010 in wet AMD patients.

Outlook Therapeutics (OTLK) has appointed Faisal G. Sukhtian as Chairman of the Board of Directors, replacing Randy Thurman who will continue as Lead Independent Director. The change comes at a important time as the company prepares to launch LYTENAVA™, their ophthalmic formulation of bevacizumab for wet AMD treatment, which has received regulatory approval in the EU and UK.

Sukhtian, who has served on OTLK's board since 2017, brings extensive experience in operations, strategy development, and M&A in the biopharma sector. He currently serves as Executive Director at GMS Holdings and holds board positions at several companies including Genepharm and MS Pharma. The company is focusing on completing FDA resubmission in the United States while preparing for the European launch of LYTENAVA™.

Outlook Therapeutics (OTLK) presented data from its NORSE EIGHT clinical trial evaluating ONS-5010 for wet AMD treatment at the Hawaiian Eye and Retina 2025 Meeting. The trial compared ONS-5010 with ranibizumab in newly diagnosed wet AMD patients.

Key results showed ONS-5010 achieved mean BCVA improvements of +3.3, +4.2, and +5.5 letters at Months 1, 2, and 3 respectively. The treatment demonstrated non-inferiority to Lucentis at 4 and 12 weeks, though it didn't meet the pre-specified non-inferiority endpoint at week 8. Anatomical response showed similar results between treatments, with central retinal thickness reduction of -123.9 microns for ONS-5010 versus -127.3 microns for ranibizumab.

The company plans to resubmit its BLA in Q1 2025. ONS-5010 has already received Marketing Authorization in the EU and UK, with European launch planned for first half of 2025.

Outlook Therapeutics (OTLK) has announced its participation in the upcoming LIVE! with Webull Corporate Connect: Healthcare Investment Webinar on January 29, 2025, at 2:00 PM ET. Lawrence A. Kenyon, the company's Executive Vice President, CFO and Interim CEO, will be presenting at the virtual event.

The announcement comes following the company's significant achievement of obtaining regulatory approval in the European Union (EU) and the United Kingdom (UK) earlier this year for their groundbreaking ophthalmic formulation of bevacizumab. This marks the first authorized use of such a formulation for treating wet age-related macular degeneration (wet AMD).

Outlook Therapeutics (OTLK) has announced complete 12-week efficacy and safety results for its NORSE EIGHT clinical trial evaluating ONS-5010 in wet AMD patients. The trial demonstrated non-inferiority to ranibizumab at week 12, with ONS-5010 showing a mean 5.5 letter improvement in BCVA compared to 6.5 letters for ranibizumab.

The company plans to resubmit its Biologics License Application (BLA) in Q1 2025. While the trial didn't meet its week 8 primary endpoint, the 12-week data showed consistent improvement and comparable safety to ranibizumab. ONS-5010 has already received marketing authorization in the EU and UK, with European launch planned for first half of 2025.

Additionally, OTLK has entered into warrant inducement transactions expected to generate up to $20.4 million in gross proceeds, which will fund clinical development programs, European commercial launch, and working capital.

Outlook Therapeutics (OTLK) announced that Jedd Comiskey, Senior Vice President and Head of Europe, participated in a Virtual Investor segment discussing the recent NICE recommendation of LYTENAVA™ (bevacizumab gamma) for treating wet age-related macular degeneration (wet AMD).

LYTENAVA™ is significant as it represents the first and only authorized ophthalmic formulation of bevacizumab for wet AMD treatment in adults in both the EU and UK. The company has secured regulatory approvals in these regions earlier this year, with an initial 10-year market exclusivity period.

Outlook Therapeutics (OTLK) reported financial results for fiscal year 2024, highlighting the approval of LYTENAVA™ as the first authorized ophthalmic formulation of bevacizumab for wet AMD treatment in the EU and UK. The company plans its first commercial launch in H1 2025, following NICE recommendation. Key developments include upcoming NORSE EIGHT efficacy data expected in January 2025 and BLA resubmission planned for Q1 2025.

Financial results show a net loss of $75.4 million ($4.06 per share) compared to $59.0 million ($4.72 per share) in the previous year. Cash position stands at $14.9 million as of September 30, 2024.

Outlook Therapeutics (OTLK) announced operational streamlining initiatives following internal strategic review. The company will implement a 23% workforce reduction, expecting annual savings of $1.4 million. This decision follows the recent EU and UK regulatory approvals of LYTENAVA™ (bevacizumab gamma) for wet AMD treatment.

LYTENAVA™ received NICE recommendation and has secured 10 years of market exclusivity in the EU and UK as the first authorized ophthalmic formulation of bevacizumab. The company plans to resubmit its BLA application to the FDA in Q1 2025, following the full NORSE EIGHT trial results expected in January 2025.