Outlook Therapeutics Inc Stock Price, News & Analysis

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.

Outlook Therapeutics (OTLK) has completed patient enrollment in its NORSE 2 trial for ONS-5010 (bevacizumab-vikg), aiming to develop the first FDA-approved ophthalmic formulation of bevacizumab for retinal diseases. The trial enrolled 227 patients across 39 sites, with pivotal safety and efficacy data expected in Q3 2021. ONS-5010 addresses a significant market need, potentially valuing at $9.1 billion. The company plans to submit for FDA approval under the 351(a) regulatory pathway, with hopes for commercialization in multiple markets.

Outlook Therapeutics announced the closure of its registered direct offering of 8,407,411 shares at a price of $1.215 per share, totaling approximately $10.2 million. The proceeds will support the company's ONS-5010 development program. Additionally, a private placement of 823,045 shares for about $1.0 million is expected to close on or around July 21, 2020. Both offerings involve shares sold under a shelf registration previously filed with the SEC.

Outlook Therapeutics (Nasdaq: OTLK) is advancing ONS-5010 / LYTENAVA™ (bevacizumab-vikg), aimed to be the first FDA-approved ophthalmic bevacizumab formulation for retinal diseases. Key milestones include topline results from the NORSE 1 trial projected for August 2020 and NORSE 2's enrollment nearing completion. The company plans to initiate the NORSE 3 safety study in Q4 2020. The FDA has approved the clinical protocols for additional trials (NORSE 4, 5, and 6) targeting various retinal conditions. If successful, ONS-5010 could tap into a $9.1 billion anti-VEGF market.

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.

Outlook Therapeutics, Inc. (Nasdaq: OTLK) announced that its President, CEO, and CFO, Lawrence A. Kenyon, will present at the Virtual Investor Fireside Chat Series on June 17, 2020, at 2:00 PM ET. The event aims to discuss the company’s progress in developing the first FDA-approved ophthalmic formulation of bevacizumab for retinal indications such as wet AMD and DME. A live Q&A session will follow, allowing attendees to interact directly with management. A webcast replay will be available two hours post-event for one year.

Outlook Therapeutics (OTLK) announced the closing of a $16 million private placement of common stock priced at $1.00 per share, a 34% premium. The funds will be directed towards working capital and its development program for ONS-5010, an investigational ophthalmic formulation aimed at treating wet AMD. The company will also contribute $0.9 million to a planned 80%-owned joint venture in China with Syntone Ventures to commercialize ONS-5010. Outlook Therapeutics aims for FDA approval to be the first approved ophthalmic formulation of bevacizumab.

Outlook Therapeutics, Inc. (Nasdaq: OTLK) has entered a Stock Purchase Agreement with Syntone Ventures for a $16 million private placement of common stock at $1.00 per share, aimed at advancing the development of its investigational drug ONS-5010 / LYTENAVA™. A joint venture will also be formed with Syntone Technologies to develop ONS-5010 in China. The Company plans to utilize $0.9 million from this funding to support the joint venture and expects additional contributions in the coming years. The deal may enhance the commercialization potential of its product.