(AOF) – Outlook Therapeutics is expected to rise in pre-market on Wall Street after the publication of improving results. The annual loss per share stood at $0.24 compared to $0.31 a year ago. As of September 30, 2023, Outlook Therapeutics had cash and cash equivalents of $23.4 million. The biotech is working to obtain approval from the Food and Drug Administration (FDA) for the first ophthalmic formulation of bevacizumab for the treatment of retinal diseases.
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Oncology, priority of pharmaceutical giants
Sanofi’s stock market disappointment recorded at the end of October 2023 underlines the new direction for the group, which has now set oncology as its number 1 priority. Efforts in this segment, where therapies are advancing the fastest, notably involve investments in R&D which weigh on profitability. Sanofi therefore announced a drop in its earnings per share in 2024 and the abandonment of its objective of an operating margin of 32% in 2025. Merck has just unveiled a new alliance. It will pay up to $22 billion to the Japanese group Daiichi Sankyo as part of a partnership on experimental cancer treatments. While some experts estimate that the United States represents nearly half of global oncology spending (drugs and treatments), or $196 billion in 2022, Chinese spending in this area has more than doubled in five years, going from 5 to 11.8 billion dollars.