** Shares of Outlook Therapeutics OTLK.O rise 8.6% to $1.25 premarket

** Drugmaker says the U.S. FDA has accepted for review its resubmitted marketing application for ONS-5010, branded as Lytenava, after the U.S. FDA declined to approve it in December

** OTLK's treatment, Lytenava, targets wet age-related macular degeneration, a common eye disease that causes vision loss due to leaking blood vessels in the retina

** The resubmission has been classified as a Class 1 review, with a target action date of July 29, co says

** Lytenava is a specific, officially authorized formulation of FDA-approved drug bevacizumab

** Up to last close, stock down 26.6% this year