Outlook Therapeutics Announces Closing of $1.0 Million Private Placement Priced At-The-Market Under Nasdaq Rules
July 17 2020 - 8:05AM
Outlook Therapeutics, Inc. (Nasdaq: OTLK), a late clinical-stage
biopharmaceutical company working to develop the first FDA-approved
ophthalmic formulation of bevacizumab-vikg for use in
retinal indications, today announced the successful closing of its
previously announced private placement of 823,045 shares of common
stock at a purchase price of $1.215 per share, for aggregate gross
proceeds of approximately $1.0 million, to Syntone Ventures LLC, a
U.S.-based affiliate of Syntone Technologies Group Co. Ltd.
The securities were priced at-the-market under Nasdaq
rules.
Outlook Therapeutics intends to use the net
proceeds from the financing for working capital and general
corporate purposes, including in support of its ONS-5010
development program.
The securities described above were offered by
Outlook Therapeutics in a private placement under Section 4(a)(2)
of the Securities Act of 1933, as amended (the “Act”) and/or
Regulation D promulgated thereunder, and such securities have not
been registered under the Act or applicable state securities laws.
Accordingly, such securities may not be offered or sold in the
United States except pursuant to an effective registration
statement or an applicable exemption from the registration
requirements of the Act and such applicable state securities
laws.
This press release shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be
any sale of these securities in any jurisdiction in which such
offer, solicitation or sale would be unlawful prior to the
registration or qualification under the securities laws of any such
jurisdiction.
About Syntone Technologies Group Co. Ltd.
Syntone Technologies Group Co. Ltd., based in
Hebei, China, is part of a larger group of enterprises which have
significant operations in China concentrated in oil and gas but
also including real estate and emerging technology. These
enterprises have experience investing outside of China, including
in the United States. Syntone has identified biotechnology as an
area of interest for investment to provide an opportunity for
Chinese patients to experience the benefits provided by these
therapies. Syntone Ventures LLC is a wholly-owned U.S.-based
subsidiary of Syntone Technologies Group Co. Ltd.
About Outlook Therapeutics,
Inc.
Outlook Therapeutics is a late clinical-stage
biopharmaceutical company working to develop the first FDA-approved
ophthalmic formulation of bevacizumab-vikg for use in retinal
indications, including wet AMD, DME and BRVO. If ONS-5010 /
LYTENAVA™ (bevacizumab-vikg), its investigational ophthalmic
formulation of bevacizumab, is approved, Outlook Therapeutics
expects to commercialize it as the first and only approved
ophthalmic formulation of bevacizumab for use in treating approved
retinal diseases in the United States, United Kingdom, Europe,
Japan and other markets. Outlook Therapeutics expects to file
ONS-5010 with the U.S. FDA as a new BLA under the PHSA 351(a)
regulatory pathway.
CONTACTS:
Outlook Therapeutics: Lawrence A. Kenyon
LawrenceKenyon@outlooktherapeutics.com
Investor
Inquiries:
Jenene Thomas Chief Executive Officer JTC Team, LLC T:
833.475.8247 OTLK@jtcir.com
Media Inquiries:Jessica MorrisAccount
ExecutiveLaVoie Health ScienceM:
857-701-9731jmorris@lavoiehealthscience.com
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