“FDA Delivers Stunning Blow: Outlook’s Ambitious Quest for Wet AMD Treatment Thwarted, Shares Plummet”
In a surprising turn of events, the FDA cast a shadow over Outlook Therapeutics’ aspirations by rejecting their groundbreaking ophthalmic bevacizumab solution, ONS-5010. This experimental treatment had been poised to revolutionize the management of wet age-related macular degeneration.
The Complete Response Letter issued by the regulatory body raised red flags over “several CMC issues,” echoing concerns that emerged during meticulous pre-approval manufacturing inspections. Despite ONS-5010’s triumphant performance in the Phase III NORSE TWO trial, meeting primary safety and efficacy benchmarks, the FDA voiced reservations about the “lack of substantial evidence” within Outlook’s Biologics License Application (BLA).
Undaunted by this setback, the New Jersey-based biotech is preparing to initiate a formal dialogue with the FDA. CEO Russel Trenary’s resolute commitment shines through as he expresses the company’s intention to “further understand the BLA deficiencies and how best to resolve them.” Anticipation hangs in the air as Outlook awaits this pivotal meeting, ready to unveil their strategic roadmap for the way forward.
The news triggered seismic waves in the stock market, with Outlook’s shares plummeting by a staggering 74% during pre-market trading on Wednesday. This dramatic response reflects the market’s recognition of the high stakes entwined with ONS-5010’s journey.
The foundation of Outlook’s BLA was anchored in the NORSE clinical development program, featuring the pivotal NORSE TWO study. This study showcased ONS-5010’s prowess, pitted against Genentech’s Lucentis (ranibizumab), by revealing significantly improved vision gains. The BLA also weaved in data from the expansive NORSE ONE clinical experience trial and the illuminating NORSE THREE open-label safety study.
At the heart of ONS-5010’s potential lies its active ingredient, bevacizumab—an impactful monoclonal antibody christened Avastin by Roche’s Genentech. This agent, with its knack for halting the VEGF signaling protein and disrupting its interaction with cell surface receptors, effectively hinders the growth of fresh blood vessels.
This mechanism of action has already reaped accolades in the cancer realm, securing approvals in domains like colorectal cancer, non-small cell lung cancer, and breast cancer. However, bevacizumab’s odyssey in the realm of ocular ailments is often off-label, diverging from the FDA’s explicit nod.
Nonetheless, the anti-VEGF approach has demonstrated its mettle in the realm of wet age-related macular degeneration. Genentech’s Lucentis and Vabysmo (faricimab) have already embraced this pathway with remarkable success, while Bayer’s Eylea (aflibercept), a stalwart intravitreal decoy receptor, deftly targets both VEGF and PIGF proteins.
Eylea’s resounding dominance over the wet AMD arena is evident through its staggering H1 2023 sales, raking in approximately $1.75 billion—a notable 1.4% escalation from the preceding year’s counterpart. Nipping at its heels, Vabysmo generated nearly $1.1 billion in revenue during the initial half of this year. In stark contrast, Lucentis has grappled with the loss of its primary patents’ shield in the U.S., precipitating a stark 50% drop in sales.
As the tug-of-war for supremacy in the wet AMD landscape intensifies, Outlook’s journey encapsulates both the exhilaration of innovation and the tenacious spirit to surmount hurdles on the quest for medical breakthroughs.