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Outlook Therapeutics Stock Jumps 12% Overnight as FDA Approves Lytenava for Wet AMD

2026-07-27 08:14:00

Outlook Therapeutics received FDA approval for Lytenava on Friday, its eye drug for treating wet age-related macular degeneration (wet AMD), marking a major regulatory milestone for the company. OTLK stock jumped 12% overnight and rose 6% on Friday to $1.41. The approval came ahead of the FDA's July 29 target date, following an appeal in May that ruled no additional clinical trials were needed. Lytenava is the first and only FDA-approved bevacizumab formulation developed specifically for use in the eye. According to Koyfin, the 12-month average analyst price target stands at $5.50, implying 290% upside from current levels, with targets ranging from $0.50 to $10.

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