The FDA decision on Outlook Therapeutics Inc.’s (OTLK) ONS-5010/LYTENAVA, proposed for the treatment of wet age-related macular degeneration, is expected on August 29, 2023.ONS-5010/LYTENAVA is the company’s ophthalmic formulation of Bevacizumab.Bevacizumab, commercially known as Avastin and other trade names, is a drug used in the treatment of different cancer types. It is also used off-label for managing eye conditions such as wet age-related macular degeneration.Given the fact that there are no approved ophthalmic formulations of Bevacizumab, medical practitioners who wish to treat retinal patients with Bevacizumab have resorted to using unapproved repackaged IV bevacizumab supplied by compounding pharmacies. These products come with known risks of contamination and inconsistent potency and availability. If ONS-5010/LYTENAVA receives approval, it can eliminate the necessity to use unapproved repackaged oncologic IV bevacizumab from compounding pharmacies when treating wet age-related macular degeneration, according to the company.OTLK closed Friday’s (Jul.28, 2023) trading at $1.66, up 0.61%.