Outlook Therapeutics (NASDAQ: OTLK) Craters 83% on FDA Setback - TipRanks.com

Biopharmaceutical company Outlook Therapeutics experienced a significant decline in stock value after the FDA issued a letter stating that it could not approve the company's application for an investigational drug due to various issues and a lack of evidence.

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Relevant topic timeline:

8/30/2023

EGY, GNS and OTLK among pre-market losers

Outlook Therapeutics plummets 78%, FibroGen declines 23%, and other stocks see significant drops after various earnings releases and study results, while UP Fintech Holding reports positive Q2 results.

8/30/2023

US FDA declines to approve Outlook Therapeutics' eye disease drug

The U.S. Food and Drug Administration has declined to approve Outlook Therapeutics' experimental eye disease drug due to manufacturing issues observed during inspections, causing the company's shares to plummet by 78%.