Hi,
according your schematic the current is limited to 5V/50Ohms = 100mA.
The driver is rated for 400mA continous current, therefore I don´t think the problem is "high current".
Wrong PCB layout, long wiring, stray inductance, dirty supply voltage, dirty signal voltage....comes into my mind.
Show us the PCB layout.
You use the "Test circuit" from the datasheet. But there is also a "recommended driver circuitry". It is not that lossy than your circuit.
What´s your data rate and fiber length?
Klaus