Notable News to Watch: Outlook Therapeutics, Inc. (NASDAQ:OTLK)

On 17 Sep 2019, shares of Outlook Therapeutics, Inc. (NASDAQ:OTLK) plunged/surged -2.30% in trading session and finally closed at $1.7000. The company most recent volume stood at 405,758 shares as compared to average volume of 842,795 shares. Over the one year trading period, the stock has a high price of $10.9600 and its low price is recorded at $0.8500.

Outlook Therapeutics, Inc. (OTLK) recently stated business highlights and financial results for its third quarter ended June 30, 2019.

Financial Highlights for the Fiscal Third Quarter Ended June 30, 2019
For the fiscal third quarter ended June 30, 2019, the Company stated a net loss attributable to ordinary stockholders of $4.6M, or $0.20 per basic and diluted share, contrast to a net loss attributable to ordinary stockholders of $9.1M, or $2.10 per basic and diluted share, for the third quarter of fiscal 2018.

For the fiscal third quarter ended June 30, 2019, the Company stated an adjusted net loss attributable to ordinary stockholders of $5.5M, or $0.24 per basic and diluted share, as contrast to an adjusted net loss attributable to ordinary stockholders of $7.1M, or $1.64 per basic and diluted share, in the third quarter of fiscal 2018.  Adjusted net loss attributable to ordinary stockholders in the third quarter of fiscal 2019 includes $0.8M of depreciation and amortization, $0.4M of non-cash interest expense, $0.4M of loss on extinguishment of debt, a $1.9M decrease in the fair value of warrant liability, $0.8M of income tax benefit from the sale of state tax NOLs, $0.1M of loss on disposal of property and equipment, and $0.2M stock dividend for the Company’s Series A-1 convertible preferred stock. For the third quarter of fiscal 2018, adjusted net loss attributable to ordinary stockholders included $0.2M of stock-based compensation expense, $0.8M of depreciation and amortization, $0.2M of non-cash interest expense, a $0.1M increase in the fair value of warrant liability, and a $0.7M stock dividend for the Company’s Series A convertible preferred stock.

At June 30, 2019, the Company had cash of $14.0M, contrast to $1.7M at September 30, 2018. In April 2019, the Company completed a public offering of ordinary stock and warrants for net proceeds of about $26.2M, after payment of fees, expenses and underwriting discounts and commissions.

OTLK current ratio was 0.80. Return on equity (ROE) was noted as 177.60% while return on investment (ROI) was 778.50%. The stock institutional ownership stands at 7.60%.

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