This Analyst Upgrades Vision Disorder-Focused Outlook Therapeutics' Prospects After FDA Agreement Despite Investor Concerns
Portfolio Pulse from Vandana Singh
Outlook Therapeutics (NASDAQ:OTLK) has completed Type A Meetings with the FDA, agreeing on a clinical trial design for ONS-5010, a treatment for wet AMD. The trial could allow for resubmission of the ONS-5010 BLA by end of 2024 and approval by mid-2025. HC Wainwright upgraded the stock to Buy from Neutral and increased the price target from $1 to $2. The new study is estimated to cost $35-40 million, necessitating additional financing.
November 03, 2023 | 7:25 pm
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POSITIVE IMPACT
Outlook Therapeutics' agreement with the FDA on a clinical trial design for ONS-5010 could lead to approval by mid-2025. This has led to an upgrade from HC Wainwright, which could positively impact the stock price.
The agreement with the FDA on a clinical trial design for ONS-5010 is a significant step towards approval, which could boost investor confidence and the stock price. The upgrade from HC Wainwright further supports this positive outlook.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100