Outlook Therapeutics Announces Strategic Workforce Reduction to Streamline Operations

Workforce Reduction:
Outlook Therapeutics is reducing its workforce by 23% to streamline operations and extend its cash runway23.

Cost Savings:
The reduction is expected to result in annual savings of $1.4 million, excluding the costs of the workforce reduction23.

Strategic Focus:
The company is focusing on the commercial launch of LYTENAVA (bevacizumab gamma) in Europe and the UK, following recent regulatory approvals23.

Regulatory Approvals:
LYTENAVA has received Marketing Authorization from the European Commission and the Medicines and Healthcare products Regulatory Agency (MHRA) in the UK for the treatment of wet AMD23.

Future Plans:
Outlook Therapeutics plans to resubmit its BLA application to the FDA in the first quarter of 2025, following the full results of the NORSE EIGHT clinical trial expected in January 202523.

Sources:

2. https://www.globenewswire.com/news-release/2024/12/13/2997055/0/en/Outlook-Therapeutics-Streamlines-Operations.html

3. https://www.stocktitan.net/news/OTLK/outlook-therapeutics-streamlines-034mnc3rxhcl.html