Outlook Therapeutics, Inc.
For the period ended Sep 30, 2025. Filed Dec 19, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Dec 19, 2025
OTLK$0.46+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Year ended September 30, | ||||||
| · · 2025 · · 2024 | ||||||
| OPERATING ACTIVITIES | | | | | | |
| Net loss | | $(62,424,863) | | $(75,366,714) | ||
| Adjustments to reconcile net loss to net cash used in operating activities: | | | | | | |
| Amortization | | | 117,052 | | | 113,859 |
| Non-cash interest expense | | | — | | | 2,681,847 |
| Stock-based compensation | | | 8,897,887 | | | 5,385,124 |
| Loss from change in fair value of promissory notes | | | 6,074,586 | | | 2,457,153 |
| Warrant related expenses (Note 10) | | | — | | | 37,490,012 |
| Warrant inducement expenses (Note 10) | | | 33,521,874 | | | — |
| Gain from change in fair value of warrant liability | | | (43,015,831) | | | (38,638,042) |
| Loss on equity method investment | | | 141,007 | | | 100,742 |
| Changes in operating assets and liabilities: | | | | | | |
| Accounts receivable | | | (1,490,931) | | | — |
| Inventory | | | (3,338,404) | | | — |
| Prepaid expenses and other current assets | | | 8,011,949 | | | (4,901,282) |
| Other assets | | | (95,247) | | | (5,900) |
| Operating lease liabilities | | | (50,131) | | | 3,413 |
| Accounts payable | | | 1,666,049 | | | 1,394,202 |
| Accrued expenses | | | 1,710,195 | | | 491,728 |
| Income taxes payable | | | (1,554,629) | | | — |
| Net cash used in operating activities | | | (51,829,437) | | | (68,793,858) |
| | | | | | | |
| FINANCING ACTIVITIES | | | | | | |
| Proceeds from the sale of common stock and warrants to purchase common stock, net of issuance costs | | | 25,396,398 | | | 60,333,681 |
| Proceeds from exercise of common stock warrants | | | 22,631,172 | | | — |
| Proceeds from debt | | | 33,100,000 | | | — |
| Payments of finance lease obligations | | | — | | | (4,267) |
| Repayment of debt | | | (36,142,586) | | | — |
| Net cash provided by financing activities | | | 44,984,984 | | | 60,329,414 |
| Net (decrease) increase in cash and cash equivalents | | | (6,844,453) | | | (8,464,444) |
| Cash and cash equivalents at beginning of year | | | 14,927,538 | | | 23,391,982 |
| Cash and cash equivalents at end of year | | $8,083,085 | | $14,927,538 | ||
| | | | | | | |
| Supplemental disclosure of cash flow information: | | | | | | |
| Cash paid for interest | | $— | | $475,000 | ||
| Supplemental schedule of non-cash financing activities: | | | | | | |
| Convertible promissory note converted into common stock | | $2,525,000 | | $11,250,000 | ||
| Recognition of warrant liability | | $— | | $97,730,836 | ||
| Fair value of common stock warrants exercised reclassified from warrant liability to equity | | $13,262,801 | | $— | ||
| Common stock and warrant issuance costs in accounts payable and accrued expenses | | $924,271 | | $— | ||
| Reclassification of deferred offering costs against ATM proceeds | | $49,092 | | $— | ||
| Right-of-use asset and lease liability recognized for new operating lease liabilities | | $— | | $294,416 | ||
See accompanying notes to consolidated financial statements.
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