Outlook Therapeutics slumps after US FDA declines to approve drug for eye condition

Outlook Therapeutics

28/08/2025 15:58

Updates

** Shares of Outlook Therapeutics OTLK.O slump 54.3% to $1.08

** Stock set for its worst day in over 9 months, if losses hold

** U.S. FDA declines to approve co's drug for a type of eye condition called wet age-related macular degeneration (wet AMD) that causes blurred vision

** OTLK says the FDA's letter included only one deficiency - a lack of substantial evidence of effectiveness

** "It does represent a significant setback for the company," says Chardan Capital Markets analyst Daniil Gataulin

** Including session moves, stock down 41% YTD

 (Reporting by Puyaan Singh and Kamal Choudhury)

 ((Puyaan.Singh@thomsonreuters.com;))