Outlook Therapeutics Regains Compliance with Nasdaq Minimum Bid Price Requirement

Rhea-AI Summary

On June 11, 2020, Outlook Therapeutics (Nasdaq: OTLK) announced it has regained compliance with Nasdaq's minimum bid price requirement. The company's stock closed at $1.00 or above for 10 consecutive trading days, resolving the compliance issue. Outlook Therapeutics is focused on developing the first FDA-approved ophthalmic formulation of bevacizumab for retinal indications, aiming to commercialize ONS-5010 / LYTENAVA™ for treating conditions like wet AMD and DME across multiple markets.

Positive

• Regained compliance with Nasdaq's minimum bid price requirement.
• Stock closed at $1.00 or greater for 10 consecutive trading days.

Negative

• None.

MONMOUTH JUNCTION, N.J., June 11, 2020 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc. (Nasdaq: OTLK) (the Company), a late clinical-stage biopharmaceutical company working to develop the first FDA-approved ophthalmic formulation of bevacizumab for use in retinal indications, announced today that it has received notification from Nasdaq that it has regained compliance with the minimum bid price for continued listing on the Nasdaq Capital Market, as the closing bid price of the Company’s common stock has been at $1.00 or greater for 10 consecutive trading days.  Accordingly, this matter is now closed.

About Outlook Therapeutics, Inc.

Outlook Therapeutics is a late clinical-stage biopharmaceutical company working to develop the first FDA-approved ophthalmic formulation of bevacizumab for use in retinal indications, including wet AMD, DME and BRVO. If ONS-5010 / LYTENAVA™ (bevacizumab-vikg), its investigational ophthalmic formulation of bevacizumab, is approved, Outlook Therapeutics expects to commercialize it as the first and only approved ophthalmic formulation of bevacizumab for use in treating approved retinal diseases in the United States, Europe, Japan and other markets. Outlook Therapeutics expects to file ONS-5010 with the U.S. FDA as a new BLA under the PHSA 351(a) regulatory pathway. For more information, please visit www.outlooktherapeutics.com.

CONTACTS:

Outlook Therapeutics:
Lawrence A. Kenyon
LawrenceKenyon@outlooktherapeutics.com

Investor Inquiries:
Jenene Thomas
Chief Executive Officer
JTC Team, LLC
T: 833.475.8247 
OTLK@jtcir.com

Media Inquiries:
Emmie Twombly
Media Relations Specialist
LaVoie Health Science
M: 857.389.6042
etwombly@lavoiehealthscience.com

FAQ

What is the latest news for Outlook Therapeutics (OTLK) as of June 2020?

On June 11, 2020, Outlook Therapeutics announced it has regained compliance with Nasdaq's minimum bid price requirement.

How does the compliance regain affect Outlook Therapeutics' stock price?

Regaining Nasdaq compliance may stabilize Outlook Therapeutics' stock price and investor confidence.

What is the significance of ONS-5010 for Outlook Therapeutics (OTLK)?

ONS-5010 is expected to be the first FDA-approved ophthalmic formulation of bevacizumab for treating retinal diseases.

What retinal conditions will ONS-5010 target?

ONS-5010 is aimed at treating wet AMD, DME, and BRVO.