Outlook Therapeutics Inc - OTLK STOCK NEWS

Outlook Therapeutics, a clinical-stage biopharmaceutical company, recently held a KOL Roundtable featuring Dr. Firas Rahhal, who discussed the treatment landscape for wet AMD and the potential of ONS-5010/LYTENAVA™ (bevacizumab-vikg). This investigational drug aims to be the first FDA-approved ophthalmic formulation of bevacizumab. The management provided insights on the ongoing Phase 3 clinical trials and plans for commercialization, expecting to file a BLA in 2021. ONS-5010 could address treatment shortcomings and offer a viable alternative to expensive anti-VEGF therapies currently in use.

Outlook Therapeutics, a clinical-stage biopharmaceutical company, has secured a $10.2 million unsecured promissory note for $10 million in cash proceeds. The funding aims to pay off existing demand notes and support ongoing development of its ophthalmic formulation, ONS-5010, for retinal diseases, including wet AMD. The note carries a 7.5% interest rate and matures on January 1, 2022. Outlook is focused on submitting its Biologics License Application (BLA) for ONS-5010 in late 2021 and seeks a commercial partner by year-end.

Outlook Therapeutics has achieved full enrollment of 195 subjects in the NORSE THREE clinical trial for its investigational product ONS-5010/LYTENAVA™ in under one month, ahead of schedule.

All trials for ONS-5010 for wet AMD are now fully enrolled or completed, aiming for a Biologics License Application (BLA) submission in the second half of 2021. The market potential for ONS-5010 is significant, with an expected entry into the estimated $13 billion global market for anti-VEGF therapies.

Outlook Therapeutics (Nasdaq: OTLK) will host a live KOL Roundtable discussion on October 29, 2020, at 10:00 AM ET. Management, including Lawrence Kenyon and Terry Dagnon, alongside Dr. Firas M. Rahhal, will discuss their lead product, ONS-5010, the first FDA-approved ophthalmic formulation of bevacizumab-vikg for retinal diseases. Investors can access the webcast on their website, with a replay available post-event.

Outlook Therapeutics has initiated an open-label safety study for ONS-5010, an investigational formulation of bevacizumab-vikg aimed at treating wet AMD and other retinal diseases. This study is crucial for gathering safety data to support a new Biologics License Application (BLA) to the FDA, expected to be filed in 2021. Approximately 180 patients will be enrolled, receiving three doses of the drug. If approved, ONS-5010 will become the first FDA-approved ophthalmic formulation of bevacizumab-vikg, addressing a significant market estimated at over $13 billion.

Outlook Therapeutics (Nasdaq: OTLK) announced that Lawrence Kenyon, its President, CEO, and CFO, will participate in the BIO Investor Forum Digital from October 13-15, 2020. The firm aims to develop the first FDA-approved ophthalmic formulation of bevacizumab-vikg (ONS-5010) for retinal diseases such as wet AMD, DME, and BRVO. The corporate presentation will be available on-demand during the conference. Interested investors can schedule virtual one-on-one meetings via the conference portal.

Outlook Therapeutics, a late clinical-stage biopharmaceutical company, has announced that Lawrence Kenyon, the President, CEO, and CFO, will present at two investor conferences in September 2020. The presentations will include a fireside chat and Q&A sessions. Key details are:

• H.C. Wainwright 22nd Annual Global Investment Conference: September 14, 2020, at 4:30 PM EDT
• Oppenheimer Fall Healthcare Life Sciences & MedTech Summit: September 21, 2020, at 2:30 PM EDT

Management will also participate in virtual one-on-one meetings with investors. Webcasts will be available post-event on their website.

Outlook Therapeutics (Nasdaq: OTLK) has successfully completed enrollment for the NORSE 2 clinical trial, enrolling 227 patients for the treatment of wet AMD, with pivotal results expected in Q3 2021. The company reported a net loss of $3 million for Q3 2020, a decrease from $4.6 million in Q3 2019. Adjusted losses totaled $10 million, up from $5.5 million. Cash reserves have improved to $24 million, bolstered by strategic financings totaling $11.2 million. The company continues to advance its investigational drug, ONS-5010, with a BLA submission planned for late 2021.

Outlook Therapeutics (Nasdaq: OTLK) has completed a private placement of 823,045 shares at $1.215 each, raising approximately $1 million. The funds will support working capital and the development of ONS-5010, the first FDA-approved ophthalmic formulation of bevacizumab for retinal diseases. The placement, under Section 4(a)(2) of the Securities Act, was made to Syntone Ventures LLC, a subsidiary of Syntone Technologies Group Co. Ltd. The securities are unregistered and may not be sold in the U.S. without an effective registration statement or applicable exemption.