Outlook Therapeutics Closes Final Tranche of $20 Million Private Placement

Outlook Therapeutics (NASDAQ:OTLK) has announced it has closed on the final tranche of its US$20 million private placement of common stock to BioLexis Pte.

As quoted in the press release:

The Company has now received the full $20.0 million from the sale of its common stock to BioLexis under this private placement, which was previously announced on November 6, 2018. The Company intends to use the net proceeds from the private placement primarily for clinical trials for its lead product candidate, ONS-5010, and for working capital and general corporate purposes, including agreed repayments on its senior secured notes.

This news release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful, prior to registration or qualification under the securities laws of any such state or jurisdiction.

Click here to read the full press release.