Outlook Therapeutics, Inc. (NASDAQ: OTLK) announced it secured $18.4 million in new non-convertible note financing from Atlas Sciences, LLC and amended terms of an existing convertible note with Avondale Capital, LLC.

The company expects to receive $17 million in net proceeds from the new note after accounting for original issue discount. Outlook Therapeutics plans to use these proceeds to pay down a portion of its existing convertible note, reducing that balance and leaving approximately $10.8 million of principal and interest remaining.

Under the amendment to the existing convertible note, the maturity date has been extended to December 31, 2026, with no other changes to terms. The lender confirmed the existing note is not in default.

The new note carries an interest rate equal to the Prime Rate plus 3%, subject to a minimum interest rate of 9.5% per annum, and matures on June 16, 2027.

Outlook Therapeutics is a biopharmaceutical company focused on developing ONS-5010/LYTENAVA for treating retinal diseases. The company has received European Commission and MHRA marketing authorization for LYTENAVA (bevacizumab gamma) and has commenced commercial launch in Germany, Austria, and the UK for wet age-related macular degeneration treatment.

In the United States, ONS-5010/LYTENAVA (bevacizumab-vikg) remains investigational and has not received regulatory approval.