As previously reported, Capital One analyst Zegbeh Jallah upgraded Outlook Therapeutics to Overweight from Equalweight with a $5 price target after Outlook released its FY23 financial and corporate update. The FDA is only requiring a short additional Phase 3 study for Lytenava in wet AMD, which is “great feedback,” according to the analyst. Approval of Lytenava has been delayed, but if approved it will still be the only on-label Avastin, says the analyst, who calls the EMA’s decision due in the first half of 2024 and potential approval of Lytenava in the EU “a call option.”
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