|3.90's a/h Full DD: Outlook Therapeutics Announces FDA Acceptance of IND for ONS-5010|
Enrollment of U.S. patients in the ONS-5010-002 Phase 3 clinical trial expected to be initiated in calendar Q2 2019
CRANBURY, N.J., April 1, 2019 – Outlook Therapeutics, Inc. (NASDAQ:OTLK) (the “Company”) announced today the U.S. Food and Drug Administration (FDA) acceptance and activation of the Investigational New Drug (IND) application for the Company’s lead product candidate, ONS-5010, an innovative monoclonal antibody (mAb) therapeutic product candidate being developed for wet age related macular degeneration (wet AMD), diabetic macular edema (DME) and branch retinal vein occlusion (BRVO). The Company is now able to begin enrolling patients with wet AMD in the U.S. portion of its ONS-5010-002 Phase 3 clinical trial.
“We look forward to initiating the enrollment of U.S. patients for our Phase 3 ONS-5010-002 trial now that the FDA has accepted our IND. Patient enrollment for the study is already underway in Australia and New Zealand, which was initiated earlier this month,” said Lawrence A. Kenyon, President and Chief Executive Officer. “We remain on track with our plan to submit ONS-5010 for regulatory approval in multiple markets in 2020.”
ONS-5010-002 is the second of two adequate and well controlled Phase 3 clinical trials evaluating ONS-5010 against ranibizumab (Lucentis®) for wet AMD and will enroll approximately 180 patients (90 in each arm). Patients enrolled in the ONS-5010-002 study will be treated for 11 months. The primary outcome of the study is a statistically significant improvement in mean visual acuity of five letters or more for ONS-5010 over ranibizumab.
If approved by regulators, ONS-5010 has the potential to mitigate the risks associated with off-label use of Avastin® or other drugs. Off label use of Avastin® is currently estimated to account for approximately 50% of all wet AMD prescriptions in the United States.
ONS-5010 is a proprietary ophthalmic formulation of bevacizumab to be administered as an intravitreal injection for the treatment of wet AMD and other retina diseases. Bevacizumab is a full length humanized anti-VEGF (Vascular Endothelial Growth Factor) antibody that inhibits VEGF and associated angiogenic activity. The Company’s proprietary ophthalmic bevacizumab product candidate is an anti-VEGF recombinant humanized monoclonal antibody (or mAb) formulated as a single use vial for IVT injection. By inhibiting the VEGF receptor from binding, bevacizumab prevents the growth and maintenance of tumor blood vessels.
About Outlook Therapeutics, Inc.
Outlook Therapeutics is a clinical-stage biopharmaceutical company focused on developing its lead clinical program, ONS-5010, a proprietary ophthalmic bevacizumab product candidate for the treatment of wet age related macular degeneration (wet AMD) and other retina diseases. ONS-5010 is currently in Phase 3 clinical trials outside the United States for patients suffering from wet AMD. For more information, please visit www.outlooktherapeutics.com.
The main wet AMD drugs right now are Genentech's Lucentis, Regeneron Pharmaceuticals Inc's (REGN) Eylea and Avastin, also by Genentech. Avastin, an oncology drug used off label to treat wet AMD, is popular among providers and payers because it's cheaper than Lucentis and Eylea.
However, risk of contamination has been a concern for the FDA, and Oppenheimer thinks ONS-5010 could one day end up taking over Avastin's large share of the AMD space.
New SVP experienced in Global Clinical Development -
Outlook Therapeutics Announces Addition of Jennifer M. Kissner, Ph.D. as Senior Vice President, Clinical Development
------------------- "Opportunities multiply as they are seized" -- Sun Tzu circa 500 B.C. -------------------