Outlook Therapeutics launches public offering of stock and warrants

Outlook Therapeutics, Inc. (Nasdaq: OTLK) announced a proposed underwritten public offering of common stock and accompanying warrants, according to a press release from the biopharmaceutical company.

The company has also granted underwriters a 30-day option to purchase up to 15% additional shares and/or warrants under the same terms. All securities in the offering are to be sold by Outlook Therapeutics. The company did not disclose the size or pricing of the offering.

Piper Sandler and BTIG are acting as joint bookrunning managers for the offering.

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

The offering is being made pursuant to 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.

LYTENAVA™ has received U.S. FDA approval and European Commission and MHRA Marketing Authorization for the treatment of wet age-related macular degeneration. The company has commenced commercial launch of the product in Germany, Austria, and the United Kingdom.

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