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flag FDA rejects Outlook Therapeutics' eye drug, causing stock to plummet by nearly 70%.

flag The FDA rejected Outlook Therapeutics' application for its eye drug ONS-5010 (Lytenava) to treat wet age-related macular degeneration, citing insufficient evidence of effectiveness. flag The decision caused the company's stock to drop by nearly 70%. flag While ONS-5010 is approved in Europe, the FDA recommended submitting additional confirmatory evidence of efficacy for future approval attempts.

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