Outlook Therapeutics, Inc. (Nasdaq: OTLK), a late
clinical-stage biopharmaceutical company working to develop the
first FDA-approved ophthalmic formulation of bevacizumab-vikg for
use in retinal indications, held its previously announced virtual
KOL Roundtable on October 29, 2020 featuring Firas Rahhal, MD, a
partner at Retina-Vitreous Associates Medical Group and Associate
Clinical Professor of Ophthalmology at the UCLA School of Medicine,
and Outlook Therapeutics’ management team – Lawrence Kenyon,
President, CEO and CFO, Terry Dagnon, COO, and Jeff Evanson, CCO.
“Gaining perspective from a practicing clinician
who frequently uses available anti-VEGF treatment options for his
patients provides invaluable insight as we continue to advance the
clinical development of our investigational ophthalmic formulation
of bevacizumab, ONS-5010/LYTENAVA™. We believe ONS-5010, if
approved, is strategically positioned to address many of the
shortcomings in the treatment landscape for wet AMD that were
discussed during the Roundtable, as it would offer patients and
clinicians an approved ophthalmic formulation of a therapeutic that
is already widely used. We thank Dr. Rahhal for taking the time to
join us for our discussion and believe the retina physician point
of view is important when looking at the opportunity Outlook
Therapeutics presents,” commented Mr. Kenyon.
Treatment Background
The Roundtable opened with a discussion of
current treatment options for retinal diseases, including wet
age-related macular degeneration (wet AMD), diabetic macular edema
(DME) and branch retinal vein occlusion (BRVO). Such retinal
diseases are characterized by excessive growth of abnormal blood
vessels under the retina, which if untreated leads to vision loss
and even blindness. Anti-VEGF medications control this abnormal
growth, and for the past 15 years have become the standard of care
for treating these diseases.
Bevacizumab is an anti-VEGF drug, but it is not
approved for ophthalmic use. Although there are three anti-VEGF
drugs currently approved to treat ophthalmic disease, they are
extremely expensive. As a result, physicians who wish to treat
their retinal patients with a less expensive anti-VEGF drug often
use unapproved, repackaged IV bevacizumab from compounding
pharmacists. ONS-5010, if approved, will be the first and only
on-label ophthalmic formulation of bevacizumab-vikg for the
treatment of wet AMD. Payors have also weighed in on the value of
bevacizumab in treating retinal diseases. Many now require use of
off-label bevacizumab as a first-line treatment option before they
will cover more expensive alternatives. The Centers for Medicare
and Medicaid Services has issued guidance to this effect and a few
major payors have also mandated its use. If approved,
ONS-5010/LYTENAVA™ will offer a new, approved treatment option for
wet-AMD in the estimated $13 billion global market for anti-VEGF
retina therapies.
Dr. Rahhal:
The Need for an
Approved Bevacizumab for
Ophthalmic
Use
Dr. Rahhal expanded on his personal experience
over many years of treating patients with retinal diseases. In his
practice, Dr. Rahhal treats approximately 50% of his wet AMD
patients with repackaged IV bevacizumab from compounding
pharmacists, a percentage which he said he believes is reasonably
typical of other U.S. retinal practices. Although he appreciates
the significant cost savings of using off-label bevacizumab, he has
at times encountered problems related to inconsistent potency,
particulate contamination in the syringes, microbial contamination
and syringe malfunctions. Problems can arise, he stated, as a
result of variability across batches from different compounding
pharmacies and from their storage practices. Additionally, silicone
oil droplets can contaminate syringes, which when injected
intravitreally, potentially can lead to an accumulation of silicone
in patients’ eyes, causing vision problems. “In my experience,
there remains an unmet need for an FDA-approved and cGMP-produced
bevacizumab that is specifically formulated for ophthalmic use.
What the team at Outlook Therapeutics has set out to accomplish
with ONS-5010, if approved, would be a valuable addition to the
treatment armamentarium,” commented Dr. Rahhal. “Additionally, I
believe that if Outlook Therapeutics commercializes ONS-5010, if
approved, in a silicone-free, pre-filled syringe that meets the
strict specifications for ophthalmic use, the product would gain
widespread acceptance by the retinal treatment community. I am
excited about the potential of ONS-5010 and look forward to the
read-out of the pivotal data from the Phase 3 study next year. I
believe ONS-5010, if approved, would be a significant improvement
over the off-label bevacizumab that many doctors are already
using.”
Management Update on
Outlook Therapeutics’ Development Program
The Roundtable concluded with an update from
Outlook Therapeutics’ management on the current clinical
development program and anticipated commercialization strategy for
ONS-5010/LYTENAVA™. Management reported that the investigational
compound is currently in Phase 3 registration clinical trials, with
an expected read-out of pivotal data in mid-2021. Results from
these trials will comprise the complete data package that is
expected to be submitted to the U.S. Food and Drug Administration
(FDA) for a new Biologics License Application (BLA) in the second
half of 2021.
Outlook Therapeutics’ management emphasized that
they intend to commercialize ONS-5010, if approved, at a
responsible price, and in both unit-dose vials and pre-filled
ophthalmic syringes. In anticipation of a first approval from the
FDA in mid-2022, Outlook Therapeutics is engaged in launch
planning, including distribution, physician and patient outreach,
key opinion leader support and payor community engagement. In
addition to the planned BLA filing in the United States, management
indicated that they are also engaged with regulatory authorities in
Europe and other major markets for anticipated approvals in those
markets. Outlook Therapeutics also expects to initiate registration
clinical trials for ONS-5010 for DME and BRVO.
A webcast replay of the KOL roundtable
discussion is now available on the Events page of the Investors
section of Outlook Therapeutics’ website
(outlooktherapeutics.com).
About ONS-5010 /
LYTENAVA™ (bevacizumab-vikg)
ONS-5010 / LYTENAVA™ (bevacizumab-vikg) is an
investigational ophthalmic formulation of bevacizumab under
development to be administered as an intravitreal injection for the
treatment of wet AMD and other retinal diseases. Because no
currently approved ophthalmic formulations of bevacizumab are
available, clinicians wishing to treat retinal patients with
bevacizumab have had to use unapproved repackaged IV bevacizumab
provided by compounding pharmacists, products that have known risks
of contamination and inconsistent potency and availability. If
approved, ONS-5010 will reduce the need for use of unapproved
repackaged IV bevacizumab from compounding pharmacists for retinal
disease.
ONS-5010 is a full-length, humanized anti-VEGF
(Vascular Endothelial Growth Factor) recombinant monoclonal
antibody (or mAb) that inhibits VEGF and associated angiogenic
activity. VEGF is a protein that promotes the growth of new
abnormal blood vessels. With wet AMD, abnormally high levels of
VEGF are secreted in the eye and lead to loss of vision. Anti-VEGF
injection therapy blocks this growth. Since the advent of anti-VEGF
therapy, it has become the standard-of-care treatment option within
the retina community globally.
About Outlook Therapeutics,
Inc.
Outlook Therapeutics is a late clinical-stage
biopharmaceutical company working to develop ONS-5010/LYTENAVA™
(bevacizumab-vikg) as the first FDA-approved ophthalmic formulation
of bevacizumab-vikg for use in retinal indications, including wet
AMD, DME and BRVO. If ONS-5010 is approved, Outlook Therapeutics
expects to commercialize it as the first and only FDA-approved
ophthalmic formulation of bevacizumab-vikg for use in treating a
range of retinal diseases in the United States, United Kingdom,
Europe, Japan and other markets. Outlook Therapeutics expects to
file ONS-5010 with the U.S. FDA as a new BLA under the PHSA 351(a)
regulatory pathway, initially for 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 “potential,” “may,” “might,”
“will,” “should,” “expect,” “plan,” “anticipate,” “project,”
“believe,” “estimate,” “predict,” “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 ONS-5010’s potential as the first FDA-approved ophthalmic
formulation of bevacizumab-vikg, including benefits therefrom to
patients, payors and physicians, the ability of ONS-5010 to gain
widespread acceptance in the retinal treatment community, the
timing of completion of, and pivotal safety and efficacy data from,
the pivotal Phase 3 trial, the timing of BLA submission and
sufficiency of exposures to support such submission, statements
about commercial launch of ONS-5010, and plans for regulatory
approvals in other markets. Although Outlook Therapeutics believes
that it has a reasonable basis for the forward-looking statements
contained herein, they are based on current expectations about
future events affecting Outlook Therapeutics 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, risks in obtaining
necessary regulatory approvals, and risks of funding such ongoing
development, as well as those risks detailed in Outlook
Therapeutics’ filings with the Securities and Exchange Commission,
which include the uncertainty of future impacts related to the
ongoing COVID-19 pandemic. 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.
Outlook Therapeutics 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.
CONTACTS:Media
Inquiries:Harriet UllmanAssistant Vice
PresidentLaVoieHealthScienceT:
617-669-3082hullman@lavoiehealthscience.com Investor
Inquiries: Jenene
ThomasChief Executive OfficerJTC Team, LLCT:
833.475.8247 OTLK@jtcir.com
Outlook Therapeutics (NASDAQ:OTLK)
Historical Stock Chart
From Mar 2024 to Apr 2024
Outlook Therapeutics (NASDAQ:OTLK)
Historical Stock Chart
From Apr 2023 to Apr 2024