Outlook Therapeutics Announces Pricing of $55.0 Million Public Offering of Common Stock and Warrants

ISELIN, N.J., Aug. 12, 2026 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc. (Nasdaq: OTLK) (“Outlook Therapeutics”), a biopharmaceutical company focused on the development and commercialization of LYTENAVA™ (bevacizumab-vikg, bevacizumab gamma) for the treatment of retinal diseases, today announced the pricing of an underwritten public offering of 55,555,556 shares of its common stock and accompanying warrants to purchase up to an aggregate of 55,555,556 shares of its common stock. The combined public offering price of each share of common stock and accompanying warrant to purchase one share is $0.99. The accompanying warrants have an exercise price of $1.10 per share, will become exercisable immediately and will expire five years from the date of issuance. Outlook Therapeutics also granted the underwriters an option for a period of 30 days to purchase up to 8,333,333 additional shares of its common stock and/or warrants to purchase up to 8,333,333 additional shares of its common stock at the public offering price, less the underwriting discounts and commissions. All of the securities in the offering are to be sold by Outlook Therapeutics. The offering is expected to close on August 14, 2026 subject to market and other conditions.

Piper Sandler and BTIG are acting as joint bookrunning managers for the offering, and Brookline Capital Markets, a division of Arcadia Securities, LLC, is acting as lead manager.

The aggregate gross proceeds to Outlook Therapeutics from the offering are expected to be approximately $55.0 million, before deducting underwriting discounts and commissions and offering expenses payable by Outlook Therapeutics and excluding any exercise of the underwriter's option to purchase additional securities and assuming no exercise of the accompanying warrants. Outlook Therapeutics intends to use the net proceeds from the offering, together with existing cash and cash equivalents, to support the commercial launch of LYTENAVA™ in the United States, as well as for working capital and general corporate purposes.

The securities described above are being offered by Outlook Therapeutics pursuant to a “shelf” registration statement on Form S-3 (File No. 333-278340) that was originally filed with the Securities and Exchange Commission (the “SEC”) on March 28, 2024, and declared effective on April 5, 2024. The offering is being made only by means of a prospectus supplement and an accompanying prospectus that form a part of the effective registration statement. A final prospectus supplement and an accompanying prospectus related to the offering will be filed with the SEC and will be available on the SEC’s website at www.sec.gov. Copies of the final prospectus supplement and the accompanying prospectus, when available, may also be obtained from Piper Sandler & Co., 350 North 5th Street, Suite 1000, Minneapolis, Minnesota 55401, Attention: Prospectus Department, by telephone at (800) 747-3924, or by e-mail at prospectus@psc.com, or from BTIG, LLC, 65 East 55th Street, New York, New York 10022 or by telephone at (212) 593-7555, or by email at ProspectusDelivery@btig.com.

This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, 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 focused on the development and commercialization of LYTENAVA™ (bevacizumab-vikg (U.S.), bevacizumab gamma (E.U.)). LYTENAVA™ is the only ophthalmic formulation of bevacizumab to receive U.S. FDA approval and European Commission and MHRA Marketing Authorization for the treatment of wet AMD. Outlook Therapeutics commenced commercial launch of LYTENAVA™ (bevacizumab gamma) in Germany, Austria, and the UK as a treatment for wet AMD.

This press release contains statements that may or are considered “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 “anticipate,” “believe,” “continue,” “expect,” “may,” “on track,” “plan,” “potential,” “target,” “will,” or “would” the negative of terms like these or other comparable terminology, and other words or terms of similar meaning. These include statements regarding, among others, Outlook Therapeutics’ expectations regarding the completion of the offering and the expected use of proceeds therefrom, the commercial launch of LYTENAVA™ in the United States and Europe, and other statements that are not historical fact. 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 fluctuations in Outlook Therapeutics’ stock price, changes in market conditions and satisfaction of customary closing conditions related to the offering, risks associated with developing and commercializing pharmaceutical product candidates, the content and timing of decisions by regulatory bodies, as well as those risks detailed in Outlook Therapeutics’ filings with the SEC, including Exhibit 99.1 to the Current Report on Form 8-K filed by Outlook Therapeutics with the SEC on August 12, 2026, as supplemented by subsequent reports Outlook Therapeutics files with the SEC, which include uncertainty of market conditions and future impacts related to macroeconomic factors, including as a result of the global geopolitical conflict, tariffs, and trade tensions, fluctuations in interest rates and inflation, and potential future bank failures on the global business environment. 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.

Jenene Thomas

Chief Executive Officer

JTC Team, LLC