(RTTNews) - Outlook Therapeutics, Inc. (OTLK) announced it has entered into a new $18.4 million non-convertible note financing and amended its existing convertible note agreements, bolstering its cash position as the company advances commercialization of its ophthalmic therapy LYTENAVA.
The financing provides additional runway to support European launches, regulatory activities in the U.S., and continued pipeline development. Management noted that the transaction strengthens liquidity at a pivotal time, as Outlook shifts from a purely clinical-stage biotech into a revenue-generating company.
The company expects to receive $17 million in net proceeds, after original issue discount, leaving approximately $10.8 millions of principal and interest remaining on the existing note. The new note bears interest at a rate equal to the Prime Rate plus 3%, subject to a minimum of 9.5% per annum, and matures on June 16, 2027.
LYTENAVA is an ophthalmic formulation of bevacizumab approved in Europe and the UK for wet age-related macular degeneration (AMD). Outlook is pursuing U.S. approval, having requested a Type A meeting with the FDA following a Complete Response Letter issued in December 2025, which cited manufacturing and inspection deficiencies rather than clinical efficacy concerns. The company has conducted an informal meeting with the FDA to discuss the CRL.
OTLK has traded between $0.34 and $3.39 over the past year. During Monday's trading session, the stock touched a new 52-week low of $0.34 before closing at $0.35, down 10.69%. In overnight trading, the shares rebounded to $0.41, up 16%.
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