Outlook Therapeutics (OTLK) has disclosed a new risk, in the Litigation & Legal Liabilities category.
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Outlook Therapeutics faces a significant legal challenge as it has been named, along with certain officers, in a securities class action lawsuit alleging violations of the Securities Exchange Act of 1934. This litigation stems from purportedly false and misleading statements regarding their Biologics License Application (BLA) for ONS-5010, a proposed treatment for wet AMD. With the lawsuit in its early stages, the company is unable to estimate potential costs and cannot predict the outcome. The legal proceedings could divert management’s focus, incur hefty legal fees, and if resolved unfavorably, materially impact Outlook Therapeutics’ operations and stock price.
The average OTLK stock price target is $2.00, implying 372.70% upside potential.
To learn more about Outlook Therapeutics’ risk factors, click here.
