After discovering a number of insider transactions, Outlook Therapeutics Inc. (NASDAQ: OTLK) shares rose 10.24% in after-hours trading to $1.40 at the last check. The stock closed Tuesday’s regular session up 2.42% to $1.27.
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Which insider trade led OTLK stock to rise?
Outlook Therapeutics (OTLK) Director Hilzinger KURT J purchased 88,797 shares of its stock during several transactions over the past 10 days. The shares were purchased for an average price of $1.233 each, resulting in a total purchase value of $110,501. The Director now owns 361,914 shares of OTLK stock directly, as of the close of the acquisition.
Recent developments
Recently, Outlook Therapeutics and AmerisourceBergen entered into a strategic partnership. As part of the collaboration, ONS-5010 / LYTENAVA (bevacizumab-vikg) will be launched commercially in the United States, if U.S. Food and Drug Administration (FDA) approval is obtained.
- The company will provide third-party logistics (3PL) and distribution services as well as medical information and pharmacovigilance services.
- Aside from patient services and field solutions, AmerisourceBergen’s commercialization support will expand as OTLK moves towards a possible launch in the United States and if ONS-5010 is approved by FDA.
- It is a critical step in OTLK’s pre-commercial strategy execution to enter into a partnership with AmerisourceBergen for ONS-5010, following its recent Biologics License Application (BLA) submission.
- Through its extensive reach and access to the vast majority of anti-VEGF providers, AmerisourceBergen is the leading specialty pharma distributor.
- Outlook Therapeutics’ commercial reach should be significantly enhanced as a result of this.
- As part of OTLK’s pre-commercial launch preparations, AmerisourceBergen will assist them in maximizing commercial success and increasing patient access, and pending FDA approval will leverage its portfolio of commercialization solutions.
- In order to meet the specific needs and objectives of its partners, AmerisourceBergen provides support across the entire product lifecycle.
In what ways will the collaboration benefit OTLK?
Outlook Therapeutics (OTLK) expects to significantly increase market access and efficient distribution of ONS-5010 if the FDA approves the agreement with AmerisourceBergen. In addition, AmerisourceBergen’s partnership will allow OTLK to deliver high-quality customer service to retina specialists more quickly. The launch of ONS-5010 in international markets will be supported by a relationship between Outlook Therapeutics and AmerisourceBergen. The acquisition of Alliance Healthcare, one of the leading wholesalers of healthcare products in Europe, by AmerisourceBergen in 2021 expanded the company’s global distribution capabilities.