The past week has seen the Outlook Therapeutics Inc (NASDAQ:OTLK) stock deliver a singularly strong performance. During the period, the stock has managed to deliver gains of as much 8% amidst significant interest and it may be the right time for investors to start looking into it a bit more closely.
Trading Data
On Tuesday, OTLK stock up by 0.72% to $1.40 with 1.90 million shares, compared to its average volume of 1.55 million shares. The stock has moved within a range of $1.3200 – 1.4300 after opening trade at $1.40.
Outlook Therapeutics (OTLK) Issues Corporate Update and Business Outlook
Yesterday, the biopharmaceutical firm was in the news after it made an announcement with regards to its business outlook for this year. The President and Chief Executive Officer of the company, C Russell Trenary III spoke about the outlook. He started off by stating that the previous 12 months had proven to be ‘transformational’ for Outlook.
He went on to state that the work that the company managed to accomplish in 2021 gave it the momentum to progress towards the vital BLA submission. He noted that the BLA submission is going to be made at some point in the current quarter only. It was a major announcement from the company and could lead to further positivity among investors with regards to the stock. At this point in time, it may be a good idea to add the stock to your watch lists and watch for the price action today.
Key Quote
“The past twelve months have been truly transformational for Outlook Therapeutics. Building off of that momentum, we continue to progress toward our targeted BLA submission this quarter and ultimately potential FDA approval. Now more than ever, we believe that ONS-5010 has the opportunity to address a significant unmet need among the retina community and the potential to provide physicians with a safe, effective, and FDA-approved version of bevacizumab that meets standards required for ophthalmic injections. With the potential for impactful milestones on the horizon, we believe we are positioning ourselves for success and remain dedicated to advancing this program to unlock the full potential of Outlook Therapeutics,” commented Mr. C. Russell Trenary III, President and Chief Executive Officer of Outlook Therapeutics. “We look forward to an exciting year for Outlook Therapeutics and our continued efforts to bring ONS-5010 for wet AMD over the finish line.”
Technical Data
OTLK stock is trading below the 50-Day and 200-Day Moving averages of $1.43 and $2.10 respectively. However, the stock is trading above the 20-Day moving average of $1.34.
