社区

Outlook shares plunged more than 22% in early trading.Outlook Therapeutics Inc has increased the size of the previously announced public offering to 40 million shares at $1.25 per share, for gross proceeds of $50 million. The offer price represents a discount of almost 20% from the last close price of $1.56 on Tuesday.

Previously, the Company offered 8 million shares at $1.25 per share.

The offering will close by November 29.

H.C. Wainwright & Co. is acting as the sole book-running manager for the offering.

GMS Ventures and Investments, an affiliate of Outlook Therapeutics' largest stockholder and strategic partner, BioLexis Pte. Ltd., has indicated an interest in purchasing directly or through an affiliate up to $20 million of the shares in the offering.

Outlook Therapeutics will use the net proceeds for working capital and general corporate purposes, including supporting its ONS-5010 development program.

Recently, Outlook presented pivotal safety and efficacy data from the Phase 3 NORSE TWO trial for ONS-5010 at the Retinal Subspecialty Day, AAO 2021 Annual Conference.

ONS-5010 is an investigational ophthalmic formulation of bevacizumab for use in wet age-related macular degeneration (wet AMD) and other retinal indications,

Outlook Therapeutics plans to submit a marketing application in Q1 of 2022.