Outlook Therapeutics, Inc. · Biotech

OTLK

High riskNext report: Around Dec 18 (est.)

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The short version

A company still losing money, with high risk. Institutions are adding.

Watch out for

Late quarterly report notice
About 2 months of cash left at its current burn
Owes more than it owns (negative equity)

Money moves

No insider buying or selling in the last 30 days
Institutions added 91% to their holdings in the quarter ending June 2026 (47 bought, 20 sold)

Facts from SEC filings, not a recommendation.

The business over time

Last 12 quarters, from SEC filings

Profit, Jun '26

-$20.3M

Sep '23Tap a barJun '26

Last 12 months: -$61.1M.

Price

Price chart by TradingView.

Business quality

The checklist Warren Buffett-style investors use. Annual numbers for 2025.

1/6Weak

MissDebt under half of equityNot relying on borrowed money.Owes more than it owns
MissNet margin 10%+Keeps at least 10 cents of profit from each dollar of sales.Losses many times its sales
MissProfitable every yearSteady profits, not one good year.0 of 10 years
MissFree cash flow positiveBrings in more cash than it spends to run and grow.-$51.8M
PassShare count not growingNot diluting owners. Falling means buybacks.-1.6% in 3 years
MissGross margin 40%+Pricing power: sells for well above what it costs to make.4.0%

Revenue: $1.4M
Current ratio: 0.35x; short-term assets / bills due
Free cash flow: -$51.8M; -3666.7% of revenue

From annual reports filed with the SEC. Not in this company's SEC data, so not scored: return on equity 15%+. A checklist is a starting point for research, not a verdict.

Latest quarter

Quarter ended Jun 30, 2026

Reported Aug 14

EPS: -$0.15; vs -$0.55
Free cash flow: -$21.0M
Share count: +270.0%; vs a year ago

Insider rating

Last 90 days

No open-market insider buys or sells in the last 90 days.

Weekly insider trend

No trades to chart yet.

Filing buzz

Last 7 days vs normal

0/ 100

This week: 0
Normal week: 1.8
vs normal: 0.0x

SEC filings of any kind. 50 means a normal week.

Institutional ownership

Accumulating+90.6%

Institutions added 90.6% to their holdings. 47 bought, 20 sold. 3 quarters of net buying in a row.

Shares held by institutions20.5M

Sep '24Jun '26

Safety check

From SEC filings

Share count growthYearly rate, last 3 years

-2.2%

Cash runwayAt last year's cash burn

3 months

Debt to equityLatest balance sheet: debt compared with what owners have

Owes more than it owns

Shares outstandingLatest reported

243M

Why high risk

Losing money, losses are large next to sales
About 3 months of cash left at its current burn
Owes more than it owns (negative equity)
Bills due within a year exceed short-term assets
Revenue down 82.6% from the year before
6 offering filings in 6 months (may sell new shares)
Exchange listing notice (a delisting warning or a move to another exchange)
Late quarterly report notice

Earnings reports

Last 12

Next reportAround Dec 18 (est.)Estimated from the same quarter last year

Results filedAug 14
Results filedAug 12
Results filedMay 18
Results filedMay 13
Results filedFeb 17

Flags and big holders

Offerings 6 months, flags 12 months, holders 90 days

New 5%+ holder (passive)Oct 13 · View filing ↗Big holder Listing standards noticeSep 30 · View filing ↗Red flag New 5%+ holder (passive)Aug 19 · View filing ↗Big holder Late quarterly report noticeAug 17 · View filing ↗Red flag 5%+ holder update (active)Aug 14 · View filing ↗Activist Offering prospectusAug 14 · View filing ↗Offering Offering prospectusAug 12 · View filing ↗Offering Offering prospectusJul 21 · View filing ↗Offering Shelf offering registrationJul 17 · View filing ↗Offering Listing standards noticeJun 26 · View filing ↗Red flag Offering prospectusMay 29 · View filing ↗Offering Offering prospectusMay 13 · View filing ↗Offering Listing standards noticeFeb 18 · View filing ↗Red flag

Insider trades

Open-market buys and sells, last 90 days

No open-market buys or sells in 90 days. Grants and option exercises are left out.

"Owns after" is the insider's holding right after the trade. Pre-planned (10b5-1) sales are set up months ahead, a weaker signal.

Latest filings

Straight from SEC EDGAR

New 5%+ holder (passive)Oct 13 · Form SCHEDULE 13G ↗Listing standards noticeSep 30 · Form 8-K ↗Other company newsSep 18 · Form 8-K ↗New insiderSep 2 · Form 3 ↗

Stock awardKevin Michael LundquistChief Financial Officer

500,000 shares

Now owns 500,000 shares
Exercise price $0.63
Employee Stock Option (Right to Buy)
Filed 1 day after trade

Sep 1Form 4 ↗

Leadership changeAug 27 · Form 8-K ↗New 5%+ holder (passive)Aug 19 · Form SCHEDULE 13G ↗Quarterly reportAug 18 · Form 10-Q ↗Late quarterly report noticeAug 17 · Form NT 10-Q ↗Earnings resultsAug 14 · Form 8-K ↗Offering prospectusAug 14 · Form 424B5 ↗Other company newsAug 14 · Form 8-K ↗

BoughtLawrence A KenyonChief Financial Officer, Director

101,010 shares

+1699% of holdings
Now owns 106,956 shares
Exercise price $1.10
Filed same day

Aug 14Form 4 ↗

BoughtGhiath M. SukhtianDirector, 10% owner

2,525,252 shares at $0.99 · $2.5M

+11% of holdings
Now owns 24,617,320 shares
Exercise price $1.10
Held See footnote
Filed 2 days after trade
Joint filing with 1 other

Aug 12Form 4 ↗

5%+ holder update (active)Aug 14 · Form SCHEDULE 13D/A ↗

Source: SEC EDGAR filings. For informational purposes. Not investment advice.

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