{"success":true,"data":{"pressRelease":{"id":"4694","rtpr_id":"nGNXT85Ty","ticker":"OTLK","exchange":"NASDAQ","all_tickers":["OTLK"],"title":"Outlook Therapeutics Announces $5.0 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules","author":"Globe Newswire","published_at":"2026-04-22T12:30:00.387Z","article_body":"ISELIN, N.J., April 22, 2026 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc.\n(https://www.globenewswire.com/Tracker?data=bQzyIbuY1S1c8NNDMh4A2hzE87gcFpSJZ7r8zCcRTMd_D70oO2OVWYfq-cQ1QPidf64g6OJlsXr8xP3fruIvRv-6UCaW_IZlxHqsjY_0rWxrJ2y40_0oowvlZvqouJFG)\n(Nasdaq: OTLK) (“Outlook Therapeutics” or the “Company”), a\nbiopharmaceutical company focused on enhancing the standard of care for\nbevacizumab for the treatment of retina diseases, today announced that it has\nentered into a definitive agreement for the purchase and sale of an aggregate\nof 16,129,033 shares of its common stock (or pre-funded warrants in lieu\nthereof) at an offering price of $0.31 per share of common stock (or per\npre-funded warrants in lieu thereof) in a registered direct offering priced\nat-the-market under Nasdaq rules. Additionally, in a concurrent private\nplacement, the Company will issue unregistered warrants to purchase up to an\naggregate of 16,129,033 shares of common stock at an exercise price of $0.31\nper share. The unregistered warrants will become exercisable on the later of\n(i) the date of stockholder approval of the issuance of the shares underlying\nthe warrants and (ii) the effective date of an amendment to the Company’s\ncertificate of incorporation to increase the authorized shares of the Company\nand will expire five years following the later of (x) the date the\nunregistered warrants are first exercisable and (y) the effective date of the\nregistration statement registering the resale of the shares of common stock\nissuable upon exercise of the unregistered warrants. The closing of the\noffering is expected to occur on or about April 23, 2026, subject to the\nsatisfaction of customary closing conditions.\n\nH.C. Wainwright & Co. is acting as the exclusive placement agent for the\noffering.\n\nThe aggregate gross proceeds to the Company from the offering are expected to\nbe approximately $5.0 million, before deducting the placement agent’s fees\nand other offering expenses payable by the Company. The potential additional\ngross proceeds to the Company from the unregistered warrants, if fully\nexercised on a cash basis, would be approximately $5.0 million. No assurance\ncan be given that any of the unregistered warrants will be exercised for cash.\nThe Company intends to use the net proceeds from this offering primarily for\nworking capital and general corporate purposes.\n\nThe shares of common stock (or the pre-funded warrants in lieu thereof and the\npre-funded warrant shares issuable thereunder) (but excluding the unregistered\nwarrants and the shares of common stock issuable thereunder) are being offered\nand sold by the Company in a registered direct offering pursuant to a\n“shelf” registration statement on Form S-3 (File No. 333-278340) that was\noriginally filed with the Securities and Exchange Commission (the “SEC”)\non March 28, 2024 and became effective on April 5, 2024. The offering of\nthe shares of common stock (or the pre-funded warrants in lieu thereof and the\nshares of common stock issuable thereunder) in the registered direct offering\nis being made only by means of a base prospectus and prospectus supplement\nthat forms a part of the effective registration statement. A final prospectus\nsupplement relating to the registered direct offering will be filed with\nthe SEC and will be available on the SEC’s website at www.sec.gov.\nElectronic copies of the final prospectus supplement and the accompanying base\nprospectus, when available, may also be obtained from H.C. Wainwright & Co.,\nLLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212)\n856-5711 or e-mail at placements@hcwco.com.\n\nThe unregistered warrants described above are being offered and sold by the\nCompany in a transaction not involving a public offering under Section 4(a)(2)\nof the Securities Act of 1933, as amended (the “Securities Act”), and/or\nRegulation D promulgated thereunder and, along with the shares of common stock\nissuable thereunder, have not been registered under the Securities Act or\napplicable state securities laws. Accordingly, the unregistered warrants and\nthe shares of common stock issuable thereunder may not be reoffered or resold\nin the United States except pursuant to an effective registration statement\nor an applicable exemption from the registration requirements of the\nSecurities Act and such applicable state securities laws.\n\nThe Company also has agreed to amend certain outstanding warrants to purchase\nup to an aggregate of 2,142,854 shares of the Company's common stock that were\npreviously issued to an investor on January 16, 2025, with an exercise price\nof $2.26 per share, effective upon the closing of the offering, such that the\namended warrants will have a reduced exercise price of $0.31 per share, will\nbe exercisable beginning on the effective date of stockholder approval of the\nissuance of the shares upon exercise of the amended warrants and will expire\nfive years from the effective date of such stockholder approval.\n\nThis press release shall not constitute an offer to sell or a solicitation of\nan offer to buy any of the securities described herein, nor shall there be any\nsale of these securities in any state or other jurisdiction in which such\noffer, solicitation or sale would be unlawful prior to the registration or\nqualification under the securities laws of any such state or other\njurisdiction.\n\nAbout Outlook Therapeutics, Inc.\n\nOutlook Therapeutics is a biopharmaceutical company focused on the development\nand commercialization of ONS-5010/LYTENAVA™ (bevacizumab-vikg, bevacizumab\ngamma) to enhance the standard of care for bevacizumab for the treatment of\nretina diseases. LYTENAVA™ (bevacizumab gamma) is the first ophthalmic\nformulation of bevacizumab to receive European Commission and MHRA Marketing\nAuthorization for the treatment of wet AMD. Outlook Therapeutics commenced\ncommercial launch of LYTENAVA™ (bevacizumab gamma) in Germany, Austria, and\nthe UK as a treatment for wet AMD.\n\nIn the United States, ONS-5010/LYTENAVA™ (bevacizumab-vikg) is\ninvestigational. If approved in the United States, ONS-5010/LYTENAVA™, would\nbe the first approved ophthalmic formulation of bevacizumab for use in retinal\nindications, including wet AMD.\n\nForward-Looking Statements\n\nThis press release contains statements that may or are considered\n“forward-looking statements”. All statements other than statements of\nhistorical facts are “forward-looking statements,” including those\nrelating to future events. In some cases, you can identify forward-looking\nstatements by terminology such as “anticipate,” “believe,”\n“continue,” “expect,” “may,” “on track,” “plan,”\n“potential,” “target,” “will,” or “would” the negative of\nterms like these or other comparable terminology, and other words or terms of\nsimilar meaning.\n\nThese include statements concerning, among others, the use of proceeds from\nthe offering, the potential exercise of the unregistered warrants, the\nCompany’s receipt of stockholder approval for (i) the issuance of the shares\nof common stock issuable upon the exercise of the unregistered warrants, the\namendment to the Company’s certificate of incorporation to increase the\nauthorized shares of common stock, and (iii) the amendment of existing\noutstanding warrants held by an investor, the potential of\nONS-5010/LYTENAVA™ as a treatment for retina diseases, the potential for\nONS-5010 to receive approval from the FDA, and other statements that are not\nhistorical fact. Although Outlook Therapeutics believes that it has a\nreasonable basis for the forward-looking statements contained herein, they are\nbased on current expectations about future events affecting Outlook\nTherapeutics and are subject to risks, uncertainties, and factors relating to\nits operations and business environment, all of which are difficult to predict\nand many of which are beyond its control. These risk factors include those\nrisks associated with the satisfaction of customary closing conditions with\nrespect to the registered direct offering and concurrent private placement,\nthe use of proceeds from the registered direct offering and concurrent private\nplacement, the receipt of the requisite stockholder approvals, the exercise of\nthe unregistered warrants and the receipt of proceeds therefrom, developing\nand commercializing pharmaceutical product candidates, risks in obtaining\nnecessary regulatory approvals, the content and timing of decisions by\nregulatory bodies, as well as those risks detailed in Outlook Therapeutics’\nfilings with the Securities and Exchange Commission (the SEC), including the\nAnnual Report on Form 10-K for the fiscal year ended September 30, 2025, filed\nwith the SEC on December 19, 2025, as supplemented by subsequent reports\nOutlook Therapeutics files with the SEC, which include uncertainty of market\nconditions and future impacts related to macroeconomic factors, including as a\nresult of the global geopolitical conflict, tariffs, and trade tensions,\nfluctuations in interest rates and inflation, and potential future bank\nfailures on the global business environment. These risks may cause actual\nresults to differ materially from those expressed or implied by\nforward-looking statements in this press release. All forward-looking\nstatements included in this press release are expressly qualified in their\nentirety by the foregoing cautionary statements. You are cautioned not to\nplace undue reliance on these forward-looking statements, which speak only as\nof the date hereof. Outlook Therapeutics does not undertake any obligation to\nupdate, amend or clarify these forward-looking statements whether as a result\nof new information, future events or otherwise, except as may be required\nunder applicable securities law.\n\nInvestor Inquiries:\nJenene Thomas\nChief Executive Officer\nJTC Team, LLC\nT: 908.824.0775\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/cbff3302-f8d2-466a-beff-8c33252f9c70)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXT85Ty","title":"Outlook Therapeutics Announces $5.0 Million Registered Direct Offering Priced At-the-Market Under Nasdaq Rules","author":"Globe Newswire","ticker":"OTLK","created":"2026-04-22T12:30:00.387Z","tickers":["OTLK"],"exchange":"NASDAQ","article_body":"ISELIN, N.J., April 22, 2026 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc.\n(https://www.globenewswire.com/Tracker?data=bQzyIbuY1S1c8NNDMh4A2hzE87gcFpSJZ7r8zCcRTMd_D70oO2OVWYfq-cQ1QPidf64g6OJlsXr8xP3fruIvRv-6UCaW_IZlxHqsjY_0rWxrJ2y40_0oowvlZvqouJFG)\n(Nasdaq: OTLK) (“Outlook Therapeutics” or the “Company”), a\nbiopharmaceutical company focused on enhancing the standard of care for\nbevacizumab for the treatment of retina diseases, today announced that it has\nentered into a definitive agreement for the purchase and sale of an aggregate\nof 16,129,033 shares of its common stock (or pre-funded warrants in lieu\nthereof) at an offering price of $0.31 per share of common stock (or per\npre-funded warrants in lieu thereof) in a registered direct offering priced\nat-the-market under Nasdaq rules. Additionally, in a concurrent private\nplacement, the Company will issue unregistered warrants to purchase up to an\naggregate of 16,129,033 shares of common stock at an exercise price of $0.31\nper share. The unregistered warrants will become exercisable on the later of\n(i) the date of stockholder approval of the issuance of the shares underlying\nthe warrants and (ii) the effective date of an amendment to the Company’s\ncertificate of incorporation to increase the authorized shares of the Company\nand will expire five years following the later of (x) the date the\nunregistered warrants are first exercisable and (y) the effective date of the\nregistration statement registering the resale of the shares of common stock\nissuable upon exercise of the unregistered warrants. The closing of the\noffering is expected to occur on or about April 23, 2026, subject to the\nsatisfaction of customary closing conditions.\n\nH.C. Wainwright & Co. is acting as the exclusive placement agent for the\noffering.\n\nThe aggregate gross proceeds to the Company from the offering are expected to\nbe approximately $5.0 million, before deducting the placement agent’s fees\nand other offering expenses payable by the Company. The potential additional\ngross proceeds to the Company from the unregistered warrants, if fully\nexercised on a cash basis, would be approximately $5.0 million. No assurance\ncan be given that any of the unregistered warrants will be exercised for cash.\nThe Company intends to use the net proceeds from this offering primarily for\nworking capital and general corporate purposes.\n\nThe shares of common stock (or the pre-funded warrants in lieu thereof and the\npre-funded warrant shares issuable thereunder) (but excluding the unregistered\nwarrants and the shares of common stock issuable thereunder) are being offered\nand sold by the Company in a registered direct offering pursuant to a\n“shelf” registration statement on Form S-3 (File No. 333-278340) that was\noriginally filed with the Securities and Exchange Commission (the “SEC”)\non March 28, 2024 and became effective on April 5, 2024. The offering of\nthe shares of common stock (or the pre-funded warrants in lieu thereof and the\nshares of common stock issuable thereunder) in the registered direct offering\nis being made only by means of a base prospectus and prospectus supplement\nthat forms a part of the effective registration statement. A final prospectus\nsupplement relating to the registered direct offering will be filed with\nthe SEC and will be available on the SEC’s website at www.sec.gov.\nElectronic copies of the final prospectus supplement and the accompanying base\nprospectus, when available, may also be obtained from H.C. Wainwright & Co.,\nLLC at 430 Park Avenue, 3rd Floor, New York, NY 10022, by phone at (212)\n856-5711 or e-mail at placements@hcwco.com.\n\nThe unregistered warrants described above are being offered and sold by the\nCompany in a transaction not involving a public offering under Section 4(a)(2)\nof the Securities Act of 1933, as amended (the “Securities Act”), and/or\nRegulation D promulgated thereunder and, along with the shares of common stock\nissuable thereunder, have not been registered under the Securities Act or\napplicable state securities laws. Accordingly, the unregistered warrants and\nthe shares of common stock issuable thereunder may not be reoffered or resold\nin the United States except pursuant to an effective registration statement\nor an applicable exemption from the registration requirements of the\nSecurities Act and such applicable state securities laws.\n\nThe Company also has agreed to amend certain outstanding warrants to purchase\nup to an aggregate of 2,142,854 shares of the Company's common stock that were\npreviously issued to an investor on January 16, 2025, with an exercise price\nof $2.26 per share, effective upon the closing of the offering, such that the\namended warrants will have a reduced exercise price of $0.31 per share, will\nbe exercisable beginning on the effective date of stockholder approval of the\nissuance of the shares upon exercise of the amended warrants and will expire\nfive years from the effective date of such stockholder approval.\n\nThis press release shall not constitute an offer to sell or a solicitation of\nan offer to buy any of the securities described herein, nor shall there be any\nsale of these securities in any state or other jurisdiction in which such\noffer, solicitation or sale would be unlawful prior to the registration or\nqualification under the securities laws of any such state or other\njurisdiction.\n\nAbout Outlook Therapeutics, Inc.\n\nOutlook Therapeutics is a biopharmaceutical company focused on the development\nand commercialization of ONS-5010/LYTENAVA™ (bevacizumab-vikg, bevacizumab\ngamma) to enhance the standard of care for bevacizumab for the treatment of\nretina diseases. LYTENAVA™ (bevacizumab gamma) is the first ophthalmic\nformulation of bevacizumab to receive European Commission and MHRA Marketing\nAuthorization for the treatment of wet AMD. Outlook Therapeutics commenced\ncommercial launch of LYTENAVA™ (bevacizumab gamma) in Germany, Austria, and\nthe UK as a treatment for wet AMD.\n\nIn the United States, ONS-5010/LYTENAVA™ (bevacizumab-vikg) is\ninvestigational. If approved in the United States, ONS-5010/LYTENAVA™, would\nbe the first approved ophthalmic formulation of bevacizumab for use in retinal\nindications, including wet AMD.\n\nForward-Looking Statements\n\nThis press release contains statements that may or are considered\n“forward-looking statements”. All statements other than statements of\nhistorical facts are “forward-looking statements,” including those\nrelating to future events. In some cases, you can identify forward-looking\nstatements by terminology such as “anticipate,” “believe,”\n“continue,” “expect,” “may,” “on track,” “plan,”\n“potential,” “target,” “will,” or “would” the negative of\nterms like these or other comparable terminology, and other words or terms of\nsimilar meaning.\n\nThese include statements concerning, among others, the use of proceeds from\nthe offering, the potential exercise of the unregistered warrants, the\nCompany’s receipt of stockholder approval for (i) the issuance of the shares\nof common stock issuable upon the exercise of the unregistered warrants, the\namendment to the Company’s certificate of incorporation to increase the\nauthorized shares of common stock, and (iii) the amendment of existing\noutstanding warrants held by an investor, the potential of\nONS-5010/LYTENAVA™ as a treatment for retina diseases, the potential for\nONS-5010 to receive approval from the FDA, and other statements that are not\nhistorical fact. Although Outlook Therapeutics believes that it has a\nreasonable basis for the forward-looking statements contained herein, they are\nbased on current expectations about future events affecting Outlook\nTherapeutics and are subject to risks, uncertainties, and factors relating to\nits operations and business environment, all of which are difficult to predict\nand many of which are beyond its control. These risk factors include those\nrisks associated with the satisfaction of customary closing conditions with\nrespect to the registered direct offering and concurrent private placement,\nthe use of proceeds from the registered direct offering and concurrent private\nplacement, the receipt of the requisite stockholder approvals, the exercise of\nthe unregistered warrants and the receipt of proceeds therefrom, developing\nand commercializing pharmaceutical product candidates, risks in obtaining\nnecessary regulatory approvals, the content and timing of decisions by\nregulatory bodies, as well as those risks detailed in Outlook Therapeutics’\nfilings with the Securities and Exchange Commission (the SEC), including the\nAnnual Report on Form 10-K for the fiscal year ended September 30, 2025, filed\nwith the SEC on December 19, 2025, as supplemented by subsequent reports\nOutlook Therapeutics files with the SEC, which include uncertainty of market\nconditions and future impacts related to macroeconomic factors, including as a\nresult of the global geopolitical conflict, tariffs, and trade tensions,\nfluctuations in interest rates and inflation, and potential future bank\nfailures on the global business environment. These risks may cause actual\nresults to differ materially from those expressed or implied by\nforward-looking statements in this press release. All forward-looking\nstatements included in this press release are expressly qualified in their\nentirety by the foregoing cautionary statements. You are cautioned not to\nplace undue reliance on these forward-looking statements, which speak only as\nof the date hereof. Outlook Therapeutics does not undertake any obligation to\nupdate, amend or clarify these forward-looking statements whether as a result\nof new information, future events or otherwise, except as may be required\nunder applicable securities law.\n\nInvestor Inquiries:\nJenene Thomas\nChief Executive Officer\nJTC Team, LLC\nT: 908.824.0775\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/cbff3302-f8d2-466a-beff-8c33252f9c70)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-04-22T12:30:00.655849706Z","server_sent_at_ms":1776861000655},"received_at":"2026-04-22T12:30:00.707Z","source_url":null},"analysis":{"id":"3316","press_release_id":"4694","analysis_json":{"industry":{"label":"Pharmaceuticals, Biotechnology & Life Sciences","sector":"Health Care"},"redFlags":["existing warrants amended to reduce exercise price from $2.26 to $0.31","use of proceeds is working capital and general corporate purposes"],"eventType":"offering","narrative":"Outlook Therapeutics announced a $5.0 million registered direct offering, selling 16,129,033 shares of common stock at a price of $0.31 per share. The company also launched a concurrent private placement of unregistered warrants to purchase up to an additional 16,129,033 shares at the same $0.31 exercise price.\n\nIn a separate move, the company agreed to amend 2,142,854 outstanding warrants, drastically reducing the exercise price from $2.26 per share to $0.31 per share.\n\nNet proceeds from the offering are intended to be used primarily for working capital and general corporate purposes.","sentiment":"bearish","agentHooks":{"shouldPost":true,"suggestedAngle":"Financing lifeline secured at the cost of massive warrant dilution and steep price cuts for existing holders."},"keyFigures":{"offeringPrice":0.31,"sharesOffered":16129033,"customDimensions":{"amended_warrant_shares":2142854,"old_warrant_exercise_price":2.26}},"quotedText":"The aggregate gross proceeds to the Company from the offering are expected to be approximately $5.0 million","namedEntities":{"people":[{"name":"Jenene Thomas","role":"Chief Executive Officer"}],"products":["ONS-5010","LYTENAVA","bevacizumab-vikg","bevacizumab gamma"],"companies":[{"name":"Outlook Therapeutics, Inc.","ticker":"OTLK"},{"name":"H.C. Wainwright & Co.","relationship":"placement agent"}],"dollarAmounts":[{"amount":"$5.0 million","context":"aggregate gross proceeds from the offering"},{"amount":"$0.31","context":"offering price per share and warrant exercise price"},{"amount":"$2.26","context":"previous exercise price of outstanding warrants being amended"}]},"materialImpact":{"score":3,"reasoning":"The company is securing necessary liquidity via a $5M direct offering, but the transaction includes significant dilutive elements—specifically a concurrent warrant issuance and the amendment of existing warrants which slashes the exercise price from $2.26 to $0.31."},"tickerRelevance":{"others":[],"primary":"OTLK"},"eventTypeSecondary":["dilution"]},"event_type":"offering","event_type_secondary":["dilution"],"sentiment":"bearish","material_impact_score":3,"narrative":"Outlook Therapeutics announced a $5.0 million registered direct offering, selling 16,129,033 shares of common stock at a price of $0.31 per share. The company also launched a concurrent private placement of unregistered warrants to purchase up to an additional 16,129,033 shares at the same $0.31 exercise price.\n\nIn a separate move, the company agreed to amend 2,142,854 outstanding warrants, drastically reducing the exercise price from $2.26 per share to $0.31 per share.\n\nNet proceeds from the offering are intended to be used primarily for working capital and general corporate purposes.","key_figures":{"offeringPrice":0.31,"sharesOffered":16129033,"customDimensions":{"amended_warrant_shares":2142854,"old_warrant_exercise_price":2.26}},"named_entities":{"people":[{"name":"Jenene Thomas","role":"Chief Executive Officer"}],"products":["ONS-5010","LYTENAVA","bevacizumab-vikg","bevacizumab gamma"],"companies":[{"name":"Outlook Therapeutics, Inc.","ticker":"OTLK"},{"name":"H.C. Wainwright & Co.","relationship":"placement agent"}],"dollarAmounts":[{"amount":"$5.0 million","context":"aggregate gross proceeds from the offering"},{"amount":"$0.31","context":"offering price per share and warrant exercise price"},{"amount":"$2.26","context":"previous exercise price of outstanding warrants being amended"}]},"model_name":"glm-4.7","prompt_hash":"sha256:2f2748f0fcc8c4f2","schema_hash":"sha256:ad96b863d7123008","created_at":"2026-04-22T15:56:43.742Z","global_importance":3,"audience_relevance":3,"importance_components":{"method":"backfill-heuristic","signals":{"bodyLong":false,"headlineTier1":false,"tickerCovered":false,"hadSignificance":false},"version":1,"computedAt":"2026-04-27T11:52:54.160Z"}},"durationMs":94454,"modelName":"glm-4.7"}}