Outlook Therapeutics Announces Closing of $57.5 Million Bought Deal, Including Full Exercise of Underwriter’s Option to Purchase Additional Shares
November 29 2021 - 4:15PM
Outlook Therapeutics, Inc. (Nasdaq: OTLK) (“Outlook Therapeutics”),
a late clinical-stage biopharmaceutical company working to develop
and launch the first FDA-approved ophthalmic formulation of
bevacizumab-vikg for use in retinal indications, today announced
the closing of its previously announced underwritten public
offering of 46,000,000 shares of common stock of the Company at a
price to the public of $1.25 per share, which includes the exercise
in full of the underwriter’s option to purchase additional shares.
H.C. Wainwright & Co. acted as the sole
book-running manager for the offering.
The gross proceeds to Outlook Therapeutics,
before deducting underwriting discounts and commissions and
offering expenses, are $57.5 million. Outlook
Therapeutics intends to use the net proceeds from the offering
for working capital and general corporate purposes, including in
support of its ONS-5010 development program. The proceeds from this
offering are expected to provide funding through the anticipated
approval of the ONS-5010 biologics license application (BLA)
expected in the first calendar quarter of 2023.
The shares of common stock are being offered by
Outlook Therapeutics pursuant to a shelf registration statement on
Form S-3 (File No. 333-254778) originally filed with the Securities
and Exchange Commission (the “SEC”) on March 26, 2021 and declared
effective by the SEC on April 1, 2021. The offering of the shares
of common stock was made only by means of a prospectus, including a
prospectus supplement, forming a part of the effective registration
statement. A final prospectus supplement and accompanying
prospectus relating to, and describing the terms of, the offering
have been filed with the SEC and are available on the SEC's website
at http://www.sec.gov and may also be obtained by contacting H.C.
Wainwright & Co., LLC at 430 Park Avenue, 3rd Floor, New York,
NY 10022, by telephone at (212) 856-5711 or e-mail
at placements@hcwco.com.
This press release shall not constitute an offer
to sell or a solicitation of an offer to buy these securities, nor
shall there be any sale of these securities in any state or other
jurisdiction in which such offer, solicitation or sale would be
unlawful prior to the registration or qualification under the
securities laws of any such state or other jurisdiction.
About Outlook Therapeutics,
Inc.
Outlook Therapeutics is a biopharmaceutical
company working to develop and launch ONS-5010/ LYTENAVA™
(bevacizumab-vikg) as the first FDA-approved ophthalmic formulation
of bevacizumab for use in retinal indications, including wet AMD,
DME and BRVO. If ONS-5010 ophthalmic bevacizumab is
approved, Outlook Therapeutics expects to commercialize
it as the first and only FDA-approved ophthalmic formulation of
bevacizumab for use in treating retinal diseases in the United
States, United Kingdom, Europe, Japan and other
markets. Outlook Therapeutics expects to submit ONS-5010
ophthalmic bevacizumab to the U.S. FDA as a new BLA under
the PHSA 351(a) regulatory pathway. For more information, please
visit www.outlooktherapeutics.com.Forward-Looking
Statements
This press release contains forward-looking
statements. All statements other than statements of historical
facts are “forward-looking statements,” including those relating to
future events. In some cases, you can identify forward-looking
statements by terminology such as “intend,” “will,” “potential,”
“may,” “might,” “should,” “expect,” “plan,” “anticipate,”
“project,” “believe,” “estimate,” “predict” or “continue,” the
negative of terms like these or other comparable terminology, and
other words or terms of similar meaning. These include, without
limitation, statements related to the use and adequacy of the
proceeds from the offering. Although Outlook Therapeutics believes
that it has a reasonable basis for the forward-looking statements
contained herein, they are based on current expectations about
future events affecting Outlook Therapeutics and are subject to
risks, uncertainties and factors relating to its operations and
business environment, all of which are difficult to predict and
many of which are beyond its control. These risk factors include
those risks detailed in Outlook Therapeutics’ filings with the
Securities and Exchange Commission. These risks may cause actual
results to differ materially from those expressed or implied by
forward-looking statements in this press release. All
forward-looking statements included in this press release are
expressly qualified in their entirety by the foregoing cautionary
statements. You are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date hereof.
Outlook Therapeutics does not undertake any obligation to update,
amend or clarify these forward-looking statements whether as a
result of new information, future events or otherwise, except as
may be required under applicable securities law.
CONTACTS:Media
Inquiries:Harriet UllmanVice
PresidentLaVoieHealthScienceT:
617-669-3082hullman@lavoiehealthscience.com Investor
Inquiries: Jenene
ThomasChief Executive OfficerJTC Team, LLCT:
833.475.8247 OTLK@jtcir.com
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