Outlook Therapeutics, Inc. (OTLK) announced that it has proposed a best-efforts public offering of its common stock and accompanying warrants, a move that comes as the company's shares hover at a fresh 52-week low.
The offering, managed exclusively by H.C. Wainwright & Co. is subject to market conditions and customary closing requirements, with no assurance on its completion or final size.
The company stated that proceeds from the offering will be directed toward working capital and general corporate purposes, underscoring the importance of fresh funding as it continues to advance its lead program, ONS-5010/LYTENAVA (bevacizumab-vikg).
LYTENAVA is the first ophthalmic formulation of bevacizumab to receive European Commission and UK approvals for wet age-related macular degeneration (AMD), and has already been launched commercially in Germany, Austria, and UK. In the United States, the therapy remains investigational, with Outlook positioning it as a potential first FDA-approved ophthalmic bevacizumab for retinal diseases.
The offering is being made under the company's shelf registration statement, with a preliminary prospectus supplement filed with the SEC. Outlook emphasized that while the financing is intended to strengthen its balance sheet, the transaction's outcome will depend on prevailing market conditions.
OTLK has traded between $0.29 and $3.39 over the past year. The stock closed Monday's trading at $0.31, down 8.91%. In the overnight session that stock fell further to $0.21, down 32.11%, touching a new 52-week low.
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