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Outlook Therapeutics

OTLK Lead: Approved 11 Biotech Distilled articles ↓ 57 filings & releases ↓ Cash $11.2M (Jun 30, 2026) ↓ 11 verdicts ↓ 1 timing quote ↓
Ophthalmology Protein

Market cap $106M 243.4M shares (10-Q, Aug 14, 2026) × $0.436 close Nov 6, 2026

Most recent annual filing: 2025-12-19

Catalyst timeline

6 trackedQuarter catalyst calendar →
  1. ONS-5010/LYTENAVA corporate update2H 2026ONS-5010/LYTENAVA corporate update, 2H 2026, notable
  2. OTLK corporate updateDec 31, 2026OTLK corporate update, Dec 31, 2026, routine
  3. Avondale March 2025 Note corporateDec 31, 2026Avondale March 2025 Note corporate, Dec 31, 2026, routine
  4. ONS-5010/LYTENAVA commercial launch2027ONS-5010/LYTENAVA commercial launch, 2027, notable
  5. OTLK corporate updateJun 16, 2027OTLK corporate update, Jun 16, 2027, routine
  6. Atlas March 2026 Note corporateJun 16, 2027Atlas March 2026 Note corporate, Jun 16, 2027, routine

Bar width shows how precise the guidance is — a pin is a stated date, a wide band a six-month window. Deeper blue means more of the thesis rides on the event; it is not a view on the stock.

Pipeline (3 active programs)

Capital (as filed)

Cash
$11.2M cash and cash equivalents · Jun 30, 2026 (10-Q)
Operating cash flow
−$21.0M quarter Mar 31, 2026 → Jun 30, 2026, year-to-date difference (10-Q)
As stated in coverage
$51.1M cash per the update of Aug 27, 2026 — the company's own words as read there, not the filed figure

Offering documents (4)

Cash, investments and operating cash flow are the company's own XBRL facts as filed with the SEC, each shown with its period end and tag. As-stated figures come from the company's own words as read in Biotech Distilled coverage, dated, and routinely count securities and planned financing that a balance sheet does not. Offering rows are the SEC cover pages as filed. Not investment advice. Figures as of Nov 7, 2026.

Biotech Distilled coverage (11)

Articles open on Substack. Some are subscriber-only; those marked ★ Distilled Pro are for Distilled Pro members.

Verdict history (11 calls)

Every verdict Biotech Distilled has published on Outlook Therapeutics, oldest first — the full history, never a selection. How calls are scored: the track record.

  1. 2026-05-27 Watch Outlook Therapeutics (OTLK) – Scientific Deep Dive for ONS-5010/LYTENAVA The FDA appeal win is a real regulatory upgrade but the balance sheet is a calamity; the trade is a speculative binary event play for traders only, with a hard stop at the Avondale conversion floor.
  2. 2026-05-28 Watch UPDATE: Outlook Therapeutics (OTLK) — The Anchor Doubles Down (and Reprices His Warrants) GMS anchor raise materially relieves floor risk but repriced warrants compress the ceiling; traders who took the appeal trade should scale out into strength and run the remainder on house money into PDUFA.
  3. 2026-06-02 Watch UPDATE: Outlook Therapeutics (OTLK) — The Clock Starts BLA resubmission filed on schedule confirms the thesis; PDUFA now ~August 1, but traders should continue trimming into strength and run the remainder on house money into the binary print.
  4. 2026-06-16 Watch UPDATE: Outlook Therapeutics (OTLK) — The PDUFA Date Is July 29 The trade is now late, not early — the stock has done most of the approval-rerate move before the event; the asymmetry that defined the entry in May is largely spent and new entries face compressed upside with open downside.
  5. 2026-07-24 Avoid UPDATE: Outlook Therapeutics (OTLK) — Approved. Five Days Early. Now the Real Trade Starts. FDA approval is in; the regulatory binary is retired and the muted +6.4% reaction confirms the market front-ran the print — traders should scale out into strength over the next five sessions per the original execution plan.
  6. 2026-07-24 Watch UPDATE: Outlook Therapeutics (OTLK) — Six Trading Days to PDUFA, and the Supply Stack Just Got Named Regulatory path narrows to a single date but exit architecture is now visible in filings; the resale S-3 names the sellers and the supply overhang makes new entries unattractive while existing holders should keep trimming.
  7. 2026-08-13 Avoid UPDATE: Outlook Therapeutics (OTLK) - The Bill for the Approval Comes Due Warrant-sweetened underwritten offering at a 21.7% discount to the approval close, $14.6M of undisclosed ATM sales, $11.2M cash, and surviving going-concern language confirm the dilution thesis; scale-out discipline from July 24 was correct.
  8. 2026-08-14 Avoid UPDATE: Outlook Therapeutics (OTLK) - $55 Million, and the Market Sends the Invoice $55M gross recapitalization solves near-term solvency but massively dilutes the equity claim; the stock is 36% below the approval close and the watch list stays a watch list pending actual U.S. unit numbers.
  9. 2026-08-19 Avoid UPDATE: Outlook Therapeutics (OTLK) - The 10-Q Nobody Wanted to Read European revenue of $8,700 on 750 units with product expiring in the channel is the first hard commercial data point and it points the wrong way; going concern survived the $55M raise and the commercial arc is now challenged.
  10. 2026-08-27 Avoid UPDATE: Outlook Therapeutics (OTLK) - The CFO Walks Three Weeks After the Raise CFO exits nineteen days after buying into the $55M deal with full option acceleration and without-cause severance; not a thesis break but a concerning annotation on top of unproven commercial execution.
  11. 2026-09-19 Avoid UPDATE: Outlook Therapeutics (OTLK) — The Price Tag Is $485 $485 WAC lands inside the bull-case ASP band and management did not blink on price, but a list price is a hypothesis — the test runs through Q1 FY27 and the missing J-Code compounds the pricing challenge; watch list stays until actual U.S. units print.

Every verdict Biotech Distilled has published on this company, in order, with the post it came from — the full history, never a selection. Position figures are the same ones shown on /track-record, computed by the same method. Editorial opinion, not investment advice.

Timing, in the company's words (1 quote from 1 filing)

Sentences quoted verbatim from the company's SEC filings, newest filing first. Each sits under the filing it appeared in; the "matched to" tag names the calendar row it was read for.

Timing sentences quoted from the company's own SEC filings, each under the filing it appeared in. The 'matched to' tag is the calendar row the sentence was read for; the filing is the source. Not investment advice.

Filings & releases (57)

SEC filings from EDGAR and press releases captured from the company's investor-relations site, newest first. Releases captured from May 26, 2026; filings from March 2026. Summaries come from the BD update that read the document; "BD extracted" counts point at the pipeline table above. All companies →

8 more filings (13G holder notices, S-8, proxy material, SEC correspondence …)