Less than six months of cash at the latest burn — the company must raise, cut, or both, soon.
Radar 53 (elevated attention) · dilution pressure elevated · listing risk low · governance risk low · runway 2.0 mo · strongest signal: Share count +25% (Mar 31, 2026)
Direction is stated for existing shareholders (▼ more shares / survival or listing risk; ▲ insiders or holders buying). It is a characterization of the filings, not a forecast or a recommendation.
Outlook Therapeutics closed a $55M public offering on August 14, 2026, selling 55,555,556 shares with accompanying warrants at $0.99 combined price (~$51.1M net proceeds after fees). This followed FDA approval of LYTENAVA in July 2026 for wet AMD treatment. Concurrently, four insiders executed open-market purchases totaling ~$2.6M between July 29 and August 14, including CEO Bob Jahr (151,515 shares at $0.00) and largest holder Ghiath Sukhtian (2,525,252 shares at $0.99). The company reported $11.2M cash as of June 30, 2026 (preliminary, unaudited), implying ~2 months runway based on $45.9M annualized burn from the March 31, 2026 10-Q (now 140 days stale).
Runway = liquidity ÷ monthly operating burn at the latest reported period · balance sheet 171 days old. A financing after the balance-sheet date is the main reason a figure can be stale — check the timeline below for offerings since then.
Last 30 days of filing signals plus current balance-sheet flags, newest first. ▼ pressure · ▲ support · hover a score for its components; every row links to the filing.
| Date | Signal | Evidence | Score |
|---|---|---|---|
| Aug 27, 2026 | · Officer/director change | 8-K Item 5.02 filed 2026-08-27 (accepted 16:11 ET) filing | 23 |
| Mar 31, 2026 | ▼ Share count +25% | Shares outstanding 83,067,190 (2026-02-13) -> 120,863,252 (2026-05-12), +46% filing | 36 |
| Mar 31, 2026 | ▼ Runway < 6 months | ~2.0 months runway: liquidity $7,748,226 as of 2026-03-31, burn $45,911,688/yr (annualized 181-day YTD operating cash flow [companyfacts]) filing | 35 |
| Mar 31, 2026 | ▼ Negative equity | Stockholders' equity $-28,994,771 as of 2026-03-31 filing | 31 |
| Mar 31, 2026 | ▼ Cash < current liabilities | Liquidity $7,748,226 vs current liabilities $38,883,990 filing | 22 |