Outlook Therapeutics prices $55 million stock and warrant offering

Outlook Therapeutics priced a public offering of 55,555,556 shares of common stock paired with warrants to buy an equal number of shares, at a combined price of $0.99 per share and warrant, according to a prospectus supplement dated August 12, 2026. The purchase warrants carry an exercise price of $1.10 per whole share and expire five years from issuance.¹ Underwriters expect to deliver the securities on or about August 14, 2026.¹ The company estimated net proceeds of approximately $51.1 million, or about $58.8 million if underwriters fully exercise their option to buy additional shares.¹

Outlook said it intends to use the net proceeds together with its existing cash and cash equivalents to support the US commercial rollout of LYTENAVA, in addition to general working capital needs.¹

In July 2026 the FDA approved LYTENAVA for wet age-related macular degeneration in the US, a decision that gives the product 12 years of US regulatory exclusivity.¹ The company said it is preparing for a commercial launch in the US before the end of 2026.¹

On the balance sheet, Outlook estimated it had approximately $11.2 million in cash and cash equivalents as of June 30, 2026¹, though that figure has not been reviewed by its outside accountants and is preliminary.¹ As of March 31, 2026, the company owed $19.8 million combining principal, accrued interest and exit fees tied to a promissory note it took out with Atlas Sciences LLC in March 2026.¹ Outlook warned that if its cash plus this offering's proceeds are not enough to fund operations for at least 12 months from the prospectus date, doubt about its ability to continue as a going concern could persist.¹