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Tuesday, June 6, 2023

How Did The Outlook Therapeutics (OTLK) Stock Rise In The After-Hours Session?

After an application was approved, shares of Outlook Therapeutics Inc. (NASDAQ: OTLK) were up 12.70% to trade at $0.99 at the time of the most recent check.

Which OTLK applications are verified?

The European Medicines Agency (EMA) has approved ONS-5010 / LYTENAVA’s marketing authorization application, according to Outlook Therapeutics (OTLK) (bevacizumab-vikg). It is a wet age-related macular degeneration experimental ophthalmic dose of bevacizumab (wet AMD). The Committee for Medicinal Products for Human Use (CHMP) of the EMA is now prepared to formally assess the MAA, with an anticipated decision date of early 2024.

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Outlook Therapeutics is one step closer to providing doctors and their patients with the initial and only on-label, ophthalmic bevacizumab to cure wet AMD in 2022 with the EMA’s validation of MAA. The firm thinks ONS-5010 is well-positioned to offer a preferential possible treatment for the retina community and improve the standard of care in the anti-VEGF sector, in addition to the U.S. FDA’s recent acceptance of its BLA and OTLK’s intended system toward commercial launch, pending clearance.

Results from OTLK’s wet AMD trial strategy for ONS-5010, which comprises of three finished registration clinical studies called NORSE ONE, NORSE TWO, and NORSE THREE, are used to support the MAA submission. If accepted, ONS-5010 in wet AMD is anticipated to have an initial eight-year period of regulatory monopoly in the European Union (EU). If OTLK seeks approvals for other indications, the regulatory monopoly for ONS-5010 may be extended by a further two years. Outlook Therapeutics is examining country-by-country the viability of direct commercialization and joint ventures in Europe.

How will this be handled by OTLK moving forward?

This is a key accomplishment as Outlook Therapeutics (OTLK) works to present ONS-5010 as a crucial therapeutic alternative for the treatment of retinal disorders and carry out its development plan. To produce top-notch paperwork for submission that may be utilized for additional regulatory review procedures in other parts of the world, OTLK carefully engaged with European specialists.

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