Outlook Therapeutics (OTLK) Stock Jumps 12% as FDA Greenlights Lytenava

TLDR

• The FDA approved Lytenava (bevacizumab-vikg) for wet AMD on July 24, two days ahead of the July 29 target date.
• Lytenava is the first and only FDA-approved ophthalmic bevacizumab formulation for wet AMD in the U.S.
• OTLK jumped ~8.9% in pre-market trading Monday, after rising 6% on Friday to $1.41.
• BTIG upgraded OTLK from Neutral to Buy with a $4.00 price target.
• The 12-month average analyst price target is $5.50, implying roughly 290% upside from current levels.

Outlook Therapeutics stock surged in pre-market trading Monday after the FDA approved Lytenava for wet age-related macular degeneration — a milestone the company had been working toward through multiple regulatory cycles.

Outlook Therapeutics, Inc., OTLK

OTLK climbed roughly 8.9% in pre-open trading after gaining 6% on Friday to close at $1.41. The FDA decision arrived on July 24, two business days ahead of the official July 29 PDUFA target date.

Lytenava (bevacizumab-vikg) is now the first and only FDA-approved ophthalmic formulation of bevacizumab developed specifically for wet AMD in the United States.

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