$OTLK Secures Funding to Support ONS-5010 / LYTENAVA™

NASDAQ:OTLK   Outlook Therapeutics, Inc.
Outlook Therapeutics Increases Previously Announced Bought Deal Offering of Common Stock to $35.0 Million

announced today that, due to demand, the underwriter has agreed to increase the size of the previously announced public offering and purchase on a firm commitment basis 35,000,000 shares of common stock of Outlook Therapeutics, at a price to the public of $1.00 per share, less underwriting discounts and commissions.

Outlook Therapeutics Announces Closing of $35.0 Million Bought Deal

Outlook Therapeutics’ Recent Financing Secures Funding to Support ONS-5010 / LYTENAVA™ (bevacizumab-vikg) Through Planned BLA Submission

The combined net proceeds from these stock offerings are expected to provide sufficient capital to fund operations through the expected filing of the Biologics License Application (BLA) for ONS-5010 for wet age-related macular degeneration (wet AMD), which is planned for the end of calendar 2021.

“Not only have we secured enough capital to significantly extend our cash runway through important upcoming milestones in 2021, but we have provided ourselves with more time to unlock the greatest value and potential for ONS-5010, the company, and our stockholders. We believe we are now in an improved position that will allow us to both maximize the value of this asset and to provide an FDA-approved ophthalmic formulation of bevacizumab to patients.”

Extensive market research indicates that ONS-5010, if approved, will be a significant therapy in the retinal anti-VEGF market, currently estimated to be in excess of $13 billion worldwide.

Clinical Progress of ONS-5010 On Track-

Therapeutics expects to report pivotal safety and efficacy data in the third calendar quarter of 2021.


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