Full Press Release Details
Outlook Therapeutics Announces FDA Acceptance
Enrollment of U.S. patients in the ONS-5010-002
Phase 3 clinical trial expected to be initiated in calendar Q2 2019
CRANBURY, N.J., April 1, 2019 - Outlook
Therapeutics, Inc. (NASDAQ:OTLK) (the "Company") announced today the U.S. Food and Drug Administration (FDA) acceptance
and activation of the Investigational New Drug (IND) application for the Company's lead product candidate, ONS-5010, an innovative
monoclonal antibody (mAb) therapeutic product candidate being developed for wet age related macular degeneration (wet AMD), diabetic
macular edema (DME) and branch retinal vein occlusion (BRVO). The Company is now able to begin enrolling patients with wet AMD
in the U.S. portion of its ONS-5010-002 Phase 3 clinical trial.
"We look forward to initiating the enrollment of U.S.
patients for our Phase 3 ONS-5010-002 trial now that the FDA has accepted our IND. Patient enrollment for the study is already
underway in Australia and New Zealand, which was initiated earlier this month," said Lawrence A. Kenyon, President and Chief
Executive Officer. "We remain on track with our plan to submit ONS-5010 for regulatory approval in multiple markets in 2020."
ONS-5010-002 is the second of two adequate and well controlled
Phase 3 clinical trials evaluating ONS-5010 against ranibizumab (Lucentis ) for wet AMD and will enroll approximately 180 patients
(90 in each arm). Patients enrolled in the ONS-5010-002 study will be treated for 11 months. The primary outcome of the study is
a statistically significant improvement in mean visual acuity of five letters or more for ONS-5010 over ranibizumab.
If approved by regulators, ONS-5010 has the potential to mitigate
the risks associated with off-label use of Avastin or other drugs. Off label use of Avastin is currently estimated to
account for approximately 50% of all wet AMD prescriptions in the United States.
ONS-5010 is a proprietary ophthalmic formulation of bevacizumab
to be administered as an intravitreal injection for the treatment of wet AMD and other retina diseases. Bevacizumab is a full length
humanized anti-VEGF (Vascular Endothelial Growth Factor) antibody that inhibits VEGF and associated angiogenic activity. The Company's
proprietary ophthalmic bevacizumab product candidate is an anti-VEGF recombinant humanized monoclonal antibody (or mAb) formulated
as a single use vial for IVT injection. By inhibiting the VEGF receptor from binding, bevacizumab prevents the growth and maintenance
of tumor blood vessels.
Outlook Therapeutics, Inc.
Outlook Therapeutics is a clinical-stage biopharmaceutical company focused on developing its lead clinical program, ONS-5010,
a proprietary ophthalmic bevacizumab product candidate for the treatment of wet age related macular degeneration (wet AMD) and
other retina diseases. ONS-5010 is currently in Phase 3 clinical trials outside the United States for patients suffering from
wet AMD. For more information, please visit www.outlooktherapeutics.com.
Forward-Looking Statements
This press release contains forward-looking statements. All
statements other than statements of historical facts are "forward-looking statements," including those relating to
future events. In some cases, you can identify forward-looking statements by terminology such as "may," "might,"
"will," "should," "expect," "plan," "anticipate," "project,"
"believe," "estimate," "predict," "potential," "intend" or "continue,"
the negative of terms like these or other comparable terminology, and other words or terms of similar meaning. These include statements
about the Company's plans for regulatory approval of ONS-5010, its ongoing Phase 3 clinical trials for ONS-5010, including
enrollment in such trials and the outcome of such clinical trials, as well as the ability of ONS-5010 to mitigate off-label use
of Avastin or other drugs if approved. Although the Company believes that it has a reasonable basis for forward-looking statements
contained herein, they are based on current expectations about future events affecting the Company and are subject to risks, uncertainties
and factors relating to its operations and business environment, all of which are difficult to predict and many of which are beyond
its control. These risk factors include those risks associated with developing pharmaceutical product candidates, risks of conducting
clinical trials, and risks in obtaining necessary regulatory approvals, as well as those risks detailed in the Company's
filings with the Securities and Exchange Commission. These risks may cause actual results to differ materially from those expressed
or implied by forward-looking statements in this press release. All forward-looking statements included in this press release are
expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on
these forward-looking statements, which speak only as of the date hereof. The Company does not undertake any obligation to update,
amend or clarify these forward-looking statements whether as a result of new information, future events or otherwise, except as
may be required under applicable securities law.
LifeSci Advisors, LLC