$OTLK
Outlook Therapeutics, Inc.

2021 Q3 Form 10-Q Financial Statement

#000155837021011701 Filed on August 13, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 Q2 2020 Q2
Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $3.501M $2.930M $3.290M
YoY Change 46.48% -10.95% 79.78%
% of Gross Profit
Research & Development $9.935M $8.545M $8.488M
YoY Change 30.38% 0.67% 95.58%
% of Gross Profit
Depreciation & Amortization $50.67K $40.91K $50.96K
YoY Change -36.66% -19.73% -93.86%
% of Gross Profit
Operating Expenses $13.44M $11.47M $11.88M
YoY Change 34.22% -3.4% 92.22%
Operating Profit -$11.47M -$11.88M
YoY Change -3.4%
Interest Expense $119.8K -$692.2K -$440.0K
YoY Change -699.15% 57.32% -59.26%
% of Operating Profit
Other Income/Expense, Net -$88.67K -$29.33K -$130.0K
YoY Change -180.61% -77.44% -106.74%
Pretax Income -$13.40M -$12.20M -$6.286M
YoY Change 35.12% 94.03% 20.42%
Income Tax $0.00 $0.00 -$3.271M
% Of Pretax Income
Net Earnings -$13.40M -$12.20M -$3.015M
YoY Change 35.12% 304.55% -32.1%
Net Earnings / Revenue
Basic Earnings Per Share -$0.07 -$0.03
Diluted Earnings Per Share -$78.79K -$0.07 -$0.03
COMMON SHARES
Basic Shares Outstanding 175.3M 168.4M 90.76M
Diluted Shares Outstanding 168.4M 90.76M

Balance Sheet

Concept 2021 Q3 2021 Q2 2020 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.48M $19.69M $23.95M
YoY Change 15.45% -17.78% 70.71%
Cash & Equivalents $14.48M $19.69M $23.95M
Short-Term Investments
Other Short-Term Assets $7.031M $12.21M $4.280M
YoY Change 29.96% 185.17% -10.46%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $21.51M $31.90M $28.24M
YoY Change 19.86% 12.95% 50.13%
LONG-TERM ASSETS
Property, Plant & Equipment $163.6K $204.5K $570.0K
YoY Change -50.0% -64.12% -95.91%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $853.7K $464.7K
YoY Change
Other Assets $174.6K $194.4K $1.430M
YoY Change -86.51% -86.41% 197.92%
Total Long-Term Assets $1.303M $984.7K $2.000M
YoY Change -27.14% -50.76% -86.11%
TOTAL ASSETS
Total Short-Term Assets $21.51M $31.90M $28.24M
Total Long-Term Assets $1.303M $984.7K $2.000M
Total Assets $22.81M $32.88M $30.24M
YoY Change 15.6% 8.74% -8.94%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.196M $2.672M $5.010M
YoY Change -8.29% -46.68% 67.56%
Accrued Expenses $1.726M $3.492M $7.510M
YoY Change -77.75% -53.5% 68.01%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $930.7K $11.58M $4.080M
YoY Change -74.78% 183.75% -16.22%
Total Short-Term Liabilities $6.752M $19.64M $18.45M
YoY Change -57.5% 6.44% -20.54%
LONG-TERM LIABILITIES
Long-Term Debt $10.90M $21.70K $590.0K
YoY Change 1047.57% -96.32% -82.7%
Other Long-Term Liabilities $549.9K $472.5K $230.0K
YoY Change 685.59% 105.41% -97.1%
Total Long-Term Liabilities $11.45M $494.2K $820.0K
YoY Change 1022.72% -39.74% -92.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.752M $19.64M $18.45M
Total Long-Term Liabilities $11.45M $494.2K $820.0K
Total Liabilities $18.20M $20.13M $19.28M
YoY Change 7.68% 4.42% -44.23%
SHAREHOLDERS EQUITY
Retained Earnings -$342.9M -$329.5M
YoY Change 18.35%
Common Stock $347.5M $342.2M
YoY Change 18.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.607M $12.75M $10.97M
YoY Change
Total Liabilities & Shareholders Equity $22.81M $32.88M $30.24M
YoY Change 15.6% 8.74% -8.94%

Cashflow Statement

Concept 2021 Q3 2021 Q2 2020 Q2
OPERATING ACTIVITIES
Net Income -$13.40M -$12.20M -$3.015M
YoY Change 35.12% 304.55% -32.1%
Depreciation, Depletion And Amortization $50.67K $40.91K $50.96K
YoY Change -36.66% -19.73% -93.86%
Cash From Operating Activities -$8.990M -$20.19M -$5.950M
YoY Change -25.58% 239.38% -42.29%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 -$900.0K
YoY Change
Cash From Investing Activities $0.00 -$900.0K
YoY Change 500.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.775M 2.719M 26.16M
YoY Change 472.04% -89.61% 7.57%
NET CHANGE
Cash From Operating Activities -8.990M -20.19M -5.950M
Cash From Investing Activities 0.000 -900.0K
Cash From Financing Activities 3.775M 2.719M 26.16M
Net Change In Cash -5.215M -17.47M 19.31M
YoY Change -54.34% -190.49% 39.32%
FREE CASH FLOW
Cash From Operating Activities -$8.990M -$20.19M -$5.950M
Capital Expenditures $0.00
Free Cash Flow -$5.950M
YoY Change -41.44%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 10pt 0pt;">1.     Organization and Description of Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Outlook Therapeutics, Inc. (“Outlook” or the “Company”) was incorporated in New Jersey on January 5, 2010, started operations in July 2011, reincorporated in Delaware by merging with and into a Delaware corporation in October 2015 and changed its name to “Outlook Therapeutics, Inc.” in November 2018. The Company is a late clinical-stage biopharmaceutical company focused on developing and commercializing ONS-5010, an ophthalmic formulation of bevacizumab for use in retinal indications. The Company is based in Iselin, New Jersey.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The Company has been actively monitoring the novel coronavirus (“COVID-19”) pandemic and its impact globally. Given the Company’s current infrastructure needs and current strategy, the Company was able to transition to remote working with limited impact on productivity, as shelter-in-place and similar government orders were imposed. All development activities are currently active in support of the Company’s Biologics License Application (“BLA”) registration program for ONS-5010 for wet age-related macular degeneration (“wet AMD”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">The full extent to which the COVID-19 pandemic will directly or indirectly impact the Company’s business, results of operations and financial condition will depend on future developments that are highly uncertain, including as a result of new information that may emerge concerning COVID-19 and the actions taken to contain it or treat COVID-19. Management believes the financial results for the nine months ended June 30, 2021 were not significantly impacted by COVID-19.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt;"><span style="visibility:hidden;">​</span></p>
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