09:16 AM EDT, 05/28/2024 (MT Newswires) -- Outlook Therapeutics ( OTLK ) said Tuesday that the European Commission has granted marketing authorization for Lytenava, the biopharmaceutical company's ophthalmic formulation of bevacizumab, to treat wet age-related macular degeneration in the EU.

"This is a landmark milestone for us," President and Chief Executive Russell Trenary said in a statement. "The EU represents the second largest wet AMD market in the world, and we look forward to continuing our efforts to bring to the EU market the first and only on-label, ophthalmic bevacizumab for the treatment of wet AMD."

Shares of Outlook Therapeutics ( OTLK ) were up more than 1% in recent premarket activity.

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