Outlook Therapeutics, Inc. (Nasdaq: OTLK) announced the pricing of an underwritten public offering of 55,555,556 shares of common stock and accompanying warrants to purchase up to 55,555,556 additional shares, at a combined price of $0.99 per share and warrant.

The warrants carry an exercise price of $1.10 per share, become exercisable immediately, and expire five years from the date of issuance. The offering is expected to close on Aug. 14, 2026, subject to market and other conditions.

The company also granted underwriters a 30-day option to purchase up to 8,333,333 additional shares and/or warrants at the public offering price, less underwriting discounts and commissions.

Gross proceeds from the offering are expected to be approximately $55.0 million, before deducting underwriting discounts, commissions, and offering expenses, and excluding any exercise of the underwriters' option or accompanying warrants.

Outlook Therapeutics said it intends to use the net proceeds to support the commercial launch of LYTENAVA (bevacizumab-vikg) in the United States, as well as for working capital and general corporate purposes.

Piper Sandler and BTIG are acting as joint bookrunning managers for the offering. Brookline Capital Markets, a division of Arcadia Securities, LLC, is serving as lead manager.

The securities are being offered under a shelf registration statement on Form S-3 filed with the Securities and Exchange Commission on March 28, 2024, and declared effective on April 5, 2024.