$OTLK
Outlook Therapeutics, Inc.

2021 Q3 Form 10-K Financial Statement

#000155837021017007 Filed on December 23, 2021

View on sec.gov

Income Statement

Concept 2021 Q3 2021 2020 Q3
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 $12.77M $2.390M
YoY Change 46.48% 28.07% -14.03%
% of Gross Profit
Research & Development $9.935M $38.96M $7.620M
YoY Change 30.38% 47.89% 2.14%
% of Gross Profit
Depreciation & Amortization $50.67K $163.6K $80.00K
YoY Change -36.66% -25.43% -91.01%
% of Gross Profit
Operating Expenses $13.44M $51.73M $10.01M
YoY Change 34.22% 40.41% -2.25%
Operating Profit -$51.73M
YoY Change 40.41%
Interest Expense $119.8K -$982.5K -$20.00K
YoY Change -699.15% -44.18% -90.48%
% of Operating Profit
Other Income/Expense, Net -$88.67K -$452.2K $110.0K
YoY Change -180.61% -122.84% -35.29%
Pretax Income -$13.40M -$53.16M -$9.920M
YoY Change 35.12% 38.04% -22.07%
Income Tax $0.00 $2.000K $0.00
% Of Pretax Income
Net Earnings -$13.40M -$53.16M -$9.920M
YoY Change 35.12% 50.86% -1.78%
Net Earnings / Revenue
Basic Earnings Per Share -$0.35
Diluted Earnings Per Share -$78.79K -$0.35 -$81.34K
COMMON SHARES
Basic Shares Outstanding 175.3M 152.7M
Diluted Shares Outstanding 152.7M

Balance Sheet

Concept 2021 Q3 2021 2020 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $14.48M $14.48M $12.54M
YoY Change 15.45% 15.45% 56.36%
Cash & Equivalents $14.48M $12.54M
Short-Term Investments
Other Short-Term Assets $7.031M $7.031M $5.410M
YoY Change 29.96% 29.96% -1.46%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $21.51M $21.51M $17.94M
YoY Change 19.86% 19.89% 32.92%
LONG-TERM ASSETS
Property, Plant & Equipment $163.6K $275.1K $327.2K
YoY Change -50.0% -43.87% -89.71%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $853.7K $853.7K
YoY Change -5.15%
Other Assets $174.6K $174.6K $1.294M
YoY Change -86.51% -55.23% 181.4%
Total Long-Term Assets $1.303M $1.303M $1.789M
YoY Change -27.14% -27.19% -50.86%
TOTAL ASSETS
Total Short-Term Assets $21.51M $21.51M $17.94M
Total Long-Term Assets $1.303M $1.303M $1.789M
Total Assets $22.81M $22.81M $19.73M
YoY Change 15.6% 15.62% 15.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.196M $2.196M $2.395M
YoY Change -8.29% -8.1% 5.04%
Accrued Expenses $1.726M $1.769M $7.757M
YoY Change -77.75% -77.73% 67.91%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $930.7K $930.7K $3.690M
YoY Change -74.78% -74.78% -23.6%
Total Short-Term Liabilities $6.752M $6.752M $15.89M
YoY Change -57.5% -57.51% -21.69%
LONG-TERM LIABILITIES
Long-Term Debt $10.90M $10.90M $950.0K
YoY Change 1047.57% 1047.57% -72.22%
Other Long-Term Liabilities $549.9K $549.9K $70.00K
YoY Change 685.59% 685.59% -98.33%
Total Long-Term Liabilities $11.45M $11.45M $1.020M
YoY Change 1022.72% 1022.72% -86.61%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.752M $6.752M $15.89M
Total Long-Term Liabilities $11.45M $11.45M $1.020M
Total Liabilities $18.20M $18.20M $16.91M
YoY Change 7.68% 7.65% -39.4%
SHAREHOLDERS EQUITY
Retained Earnings -$342.9M -$289.7M
YoY Change 18.35%
Common Stock $347.5M $292.5M
YoY Change 18.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $4.607M $4.607M $2.826M
YoY Change
Total Liabilities & Shareholders Equity $22.81M $22.81M $19.73M
YoY Change 15.6% 15.62% 15.13%

Cashflow Statement

Concept 2021 Q3 2021 2020 Q3
OPERATING ACTIVITIES
Net Income -$13.40M -$53.16M -$9.920M
YoY Change 35.12% 50.86% -1.78%
Depreciation, Depletion And Amortization $50.67K $163.6K $80.00K
YoY Change -36.66% -25.43% -91.01%
Cash From Operating Activities -$8.990M -$54.25M -$12.08M
YoY Change -25.58% 70.66% 103.37%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $46.30M $1.000M
YoY Change 30.68%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.775M 56.19M 660.0K
YoY Change 472.04% 51.02% -1200.0%
NET CHANGE
Cash From Operating Activities -8.990M -54.25M -12.08M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 3.775M 56.19M 660.0K
Net Change In Cash -5.215M 1.941M -11.42M
YoY Change -54.34% -57.05% 90.33%
FREE CASH FLOW
Cash From Operating Activities -$8.990M -$54.25M -$12.08M
Capital Expenditures $0.00
Free Cash Flow -$12.08M
YoY Change 103.37%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">1.     Organization and Operations</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Description of the Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt;">Outlook Therapeutics, Inc., (formerly Oncobiologics, 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="margin-bottom:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;margin:0pt 0pt 12pt 0pt;">The Company has been actively monitoring the 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;">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 year ended September 30, 2021 were not significantly impacted by COVID-19.</p>
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