Outlook Therapeutics to Cut 23% Workforce to Lower Costs

MT Newswires Live12-14

Outlook Therapeutics (OTLK) late Friday disclosed plans to streamline and lower expenses at the biopharmaceutical company, including a 23% workforce reduction.

The job cuts are expected to generate around $1.4 million in yearly savings for the company, it said.

Outlook also said the National Institute for Health and Care Excellence in the UK has recommended the company's Lytenava medication to treat wet age-related macular degeneration

The company also said it plans to resubmit the biologics license application for Lytenava in the US during Q1 2025 after receiving full efficacy and safety results from clinical testing expected in January.

Outlook previously had said trial data likely would not support a regulatory application for Lyteneva, but preliminary results from the current trial have indicated it improved vision in wet AMD patients with a favorable safety profile.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap

Leave a comment

{"i18n":{"language":"en_US"},"isChannel":false,"data":{"share":"https://ttm.financial/m/news/2491586710?lang=en_US&edition=fundamental","thumbnail":"","is_english":true,"pubTime":"2024-12-14 06:00","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2491586710","market":"sg","top_or_hot":-1,"title":"Outlook Therapeutics to Cut 23% Workforce to Lower Costs","media":"MT Newswires Live","content":"<html><body><p> Outlook <a href=\"https://laohu8.com/S/LENZ\">Therapeutics</a> (OTLK) late Friday disclosed plans to streamline and lower expenses at the biopharmaceutical company, including a 23% workforce reduction.</p><p>The job cuts are expected to generate around $1.4 million in yearly savings for the company, it said.</p><p>Outlook also said the National Institute for Health and Care Excellence in the UK has recommended the company's Lytenava medication to treat wet age-related macular degeneration</p><p>The company also said it plans to resubmit the biologics license application for Lytenava in the US during Q1 2025 after receiving full efficacy and safety results from clinical testing expected in January.</p><p>Outlook previously had said trial data likely would not support a regulatory application for Lyteneva, but preliminary results from the current trial have indicated it improved vision in wet AMD patients with a favorable safety profile.</p></body></html>","source":"mtnewswires_news","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Outlook Therapeutics to Cut 23% Workforce to Lower Costs</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nOutlook Therapeutics to Cut 23% Workforce to Lower Costs\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-14 06:00 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.mtnewswires.com/><strong>MT Newswires Live</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Outlook Therapeutics (OTLK) late Friday disclosed plans to streamline and lower expenses at the biopharmaceutical company, including a 23% workforce reduction.The job cuts are expected to generate ...</p>\n\n<a href=\"https://www.mtnewswires.com/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"OTLK","symbol_name":"Outlook Therapeutics, Inc.","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2491586710","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2491586710","pubTimestamp":1734127253,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Outlook Therapeutics  late Friday disclosed plans to streamline and lower expenses at the biopharmaceutical company, including a 23% workforce reduction.The job cuts are expected to generate around $1.4 million in yearly savings for the company, it said.Outlook also said the National Institute for Health and Care Excellence in the UK has recommended the company's Lytenava medication to treat wet age-related macular degenerationThe company also said it plans to resubmit the biologics license application for Lytenava in the US during Q1 2025 after receiving full efficacy and safety results from clinical testing expected in January.Outlook previously had said trial data likely would not support a regulatory application for Lyteneva, but preliminary results from the current trial have indicated it improved vision in wet AMD patients with a favorable safety profile.","collect":0,"end_time":0,"defaultTopTitle":"","property":[],"viewcount":null,"language":"en","relate_stocks":{"OTLK":"Outlook Therapeutics, Inc.","LENZ":"Therapeutics","BK4139":"生物科技"},"translate_title":"Outlook Therapeutics将裁员23%以降低成本","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"LENZ":1,"OTLK":0.9},"content_text":"Outlook Therapeutics (OTLK) late Friday disclosed plans to streamline and lower expenses at the biopharmaceutical company, including a 23% workforce reduction.The job cuts are expected to generate around $1.4 million in yearly savings for the company, it said.Outlook also said the National Institute for Health and Care Excellence in the UK has recommended the company's Lytenava medication to treat wet age-related macular degenerationThe company also said it plans to resubmit the biologics license application for Lytenava in the US during Q1 2025 after receiving full efficacy and safety results from clinical testing expected in January.Outlook previously had said trial data likely would not support a regulatory application for Lyteneva, but preliminary results from the current trial have indicated it improved vision in wet AMD patients with a favorable safety profile.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2491586710"}