Outlook Therapeutics received a third complete response letter from the U.S. FDA for ONS‑5010, its bevacizumab biosimilar formulated for wet age‑related macular degeneration. The company’s stock plunged on the news as analysts flagged limited runway and a narrowing window for remediation given competitor approvals. BioWorld and other trade outlets noted the third CRL as a major setback that may imperil the program absent new data or engagement with regulators.