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OTLK.US
id: 864

Outlook Therapeutics (OTLK) Eye Treatment Case

D. New Jersey
Court
2:23-cv-21862
Case number
29 Dec 2022
Class period Start
29 Aug 2023
Class period End
02 Jan 2024
Lead Plaintiff motion deadline
  • Outlook announced promising results for ONS-5010, suggesting FDA approval was near. However, they faced FDA setbacks and withdrew their application.
  • On August 30, 2023, the truth came out, leading to a 80% $OTLK fall.
Outlook Therapeutics announced positive data for ONS-5010 (its main product for wet AMD and retina diseases) in August 2021, suggesting it was ready for FDA approval, but then they withdrew and resubmitted their application due to FDA requests.

The lawsuit claims that throughout this time, Outlook provided false information about ONS-5010's effectiveness and manufacturing issues.

As a result, the FDA recently rejected their application, causing $OTLK fall by 80% and $297M loss of market cap, damaging shareholders.

Given all the information, investors have reasons to suspect that Outlook's eye treatment faced manufacturing and FDA approval issues that weren't properly disclosed.
Case Status
Lead Plaintiff Appointed
Alleged Offence
Mismanagement
Misleading Statements
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
30 August 2023
Filing date
03 November 2023
Lead Plaintiff Deadline
02 January 2024
Collecting participants…

OUTLOOK THERAPEUTICS INC

Outlook Therapeutics, Inc., operates as a clinical-stage biopharmaceutical company, focuses on developing and commercializing monoclonal antibodies for various ophthalmic indications. Its lead prod...

    Ticker
    OTLK.US
    ISIN
    US69012T2069
    CIK
    1649989
    Sector
    Healthcare
    Industry
    Biotechnology
    Country
    USA
    Address
    Building F, Iselin, NJ, United States, 08852