Outlook Therapeutics, Inc. (OTLK) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

High Risk
Significant dilution risk
Last updated: May 29, 2026

Risk Assessment Details

Potential Dilution: 100.54% of current shares
Recent Dilution: 490.67% (2 years)
Historical Dilution Factor: significant recent dilution
Outstanding Shares
120M
Potential Supply
120M
Additional shares possible
Splits
None
Past 2 years

Summary

OTLK currently has 121M outstanding shares. with significant dilution risk as 122M authorized shares could dilute existing holders by 100.5%. The company has significantly diluted shareholders by 490.67% over the past 2 years, indicating aggressive capital raising.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
May 29, 2026

8-K filing: Outlook Therapeutics, Inc. completed a registered direct offering of 8,539,709 shares of common stock to GMS Ventures and Investments.

120M 120M
May 28, 2026

8-K filing: Outlook Therapeutics, Inc. entered into a securities purchase agreement for a registered direct offering of 8,539,709 shares of common stock at $0.5855 per share and amended existing warrants. ($5.0M proceeds)

120M 120M
May 15, 2026

10-Q filing | 120.9M shares outstanding

120M 120M
Mar 25, 2026

8-K filing: Outlook Therapeutics, Inc. completed a public offering of common stock and warrants on March 25, 2026, issuing 20,000,000 shares of common stock and accompanying warrants at a combined price of $0.25 per share, resulting in gross proceeds of approximately $5.0 million and net proceeds of approximately $4.0 million. ($5.0M proceeds)

24M 220M
Aug 14, 2025

10-Q filing | 23.9M shares outstanding

24M 220M
May 23, 2025

8-K filing: Outlook Therapeutics, Inc. entered into an underwriting agreement for the issuance and sale of 9,285,714 shares of common stock and accompanying warrants to purchase up to 18,571,428 shares of common stock at a combined offering price of $1.40 per share and warrant, with GMS Ventures and Investments committing to purchase shares and warrants for approximately $6.0 million; the offering is expected to close on or about May 27, 2025. ($13.0M proceeds)

24M 220M
May 15, 2025

10-Q filing | 23.9M shares outstanding

24M 220M
Mar 20, 2025

S-3 filing: This S-3 filing registers 21,720,655 shares of common stock for resale by selling stockholders, including shares issuable upon exercise of warrants and conversion of a promissory note.

24M 220M
Feb 28, 2025

S-3 filing: The filing is an S-3 registration statement for the offer and resale of up to 7,074,637 shares of common stock issuable upon the exercise of outstanding Tranche A warrants held by the selling stockholders.

24M 200M
Feb 14, 2025

10-Q filing | 24.2M shares outstanding

24M 190M
Jan 16, 2025

8-K filing: Outlook Therapeutics, Inc. entered into warrant exercise inducement offer letter agreements with certain holders of existing warrants to purchase 7,074,637 shares of common stock at a reduced exercise price of $2.51 per share, in exchange for new warrants to purchase up to 14,149,274 shares of common stock at an exercise price of $2.26 per share; Additionally, Syntone Ventures, LLC agreed to exercise its existing warrants to purchase 1,071,429 shares of Common Stock for an aggregate Reduced Exercise Price of approximately $2.51 in exchange for the Company's agreement to issue new warrants to purchase up to 2,142,858 shares of Common Stock. ($20.5M proceeds)

24M 190M
Dec 27, 2024

10-K filing | 23.9M shares outstanding

24M 190M
Aug 14, 2024

10-Q filing | 13.0M shares outstanding

13M 200M
May 15, 2024

10-Q filing | 14.3M shares outstanding

14M 200M
Apr 26, 2024

S-3 filing: Resale of common stock by selling stockholder.

260M 0
Apr 15, 2024

8-K filing: Outlook Therapeutics, Inc. closed a private placement with Syntone Ventures LLC, issuing 714,286 shares of common stock and warrants to purchase 1,071,429 shares at $7.00 per share and warrant.

260M 0
Mar 28, 2024

S-3 filing: The company is filing an S-3 to register the offering of common stock, preferred stock, debt securities, and warrants up to a total aggregate offering price of $300,000,000.

260M 0
Mar 25, 2024

S-3 filing: This S-3 filing registers 21,428,556 shares of common stock for resale by selling stockholders, including shares held outright and those issuable upon the exercise of warrants from a private placement on March 18, 2024; the company will not receive proceeds from the sale of these shares, but may receive proceeds from warrant exercises.

260M 0
Feb 14, 2024

10-Q filing | 260.3M shares outstanding

260M 0
Dec 22, 2023

10-K filing | 250.2M shares outstanding

250M 0
Aug 14, 2023

S-3 filing: This is an S-3 filing registering common stock issuable upon the exercise of placement agent warrants, with the company intending to use proceeds from warrant exercises for development, commercialization, working capital and general corporate purposes.

260M 0
Aug 14, 2023

10-Q filing | 256.9M shares outstanding

260M 0
May 15, 2023

10-Q filing | 256.7M shares outstanding

260M 0
Feb 14, 2023

10-Q filing | 256.7M shares outstanding

260M 0
Dec 29, 2022

10-K filing | 212.1M shares outstanding

210M 0
Dec 23, 2022

8-K filing: Outlook Therapeutics, Inc. entered into purchase agreements to sell 28,460,831 shares of common stock at $0.8784 per share in a registered direct offering, resulting in gross proceeds of approximately $25 million. ($25.0M proceeds)

220M 0
Dec 22, 2022

8-K filing: Outlook Therapeutics, Inc. entered into a Securities Purchase Agreement with Streeterville Capital, LLC, issuing an unsecured convertible promissory note with a face amount of $31,820,000 for gross proceeds of approximately $30 million, with the closing expected on December 28, 2022. ($30.0M proceeds)

220M 0
Aug 10, 2022

10-Q filing | 220.5M shares outstanding

220M 0
May 13, 2022

10-Q filing | 219.1M shares outstanding

220M 0
Feb 14, 2022

10-Q filing | 224.3M shares outstanding

220M 0
Dec 23, 2021

10-K filing | 176.5M shares outstanding

180M 0
Nov 29, 2021

8-K filing: Outlook Therapeutics, Inc. closed a public offering of 40,000,000 shares of common stock at $1.25 per share, with an additional 6,000,000 shares sold upon full exercise of the underwriter's option, resulting in net proceeds of approximately $54.0 million.

130M 30M
Aug 13, 2021

10-Q filing | 127.2M shares outstanding

130M 30M
May 14, 2021

10-Q filing | 173.6M shares outstanding

170M 0
Mar 26, 2021

S-3 filing: The company may offer shares of its common stock and preferred stock, various series of debt securities and/or warrants to purchase any of such securities, either individually or in combination, up to a total dollar amount of $250,000,000 from time to time under this prospectus.

170M 0
Feb 16, 2021

10-Q filing | 173.4M shares outstanding

170M 0
Feb 11, 2021

8-K filing: Outlook Therapeutics, Inc. sold 1,013,627 shares of Common Stock to GMS Ventures and Investments at a price of $1.00 per share, for gross proceeds of $1,013,627, in a private placement that closed on February 10, 2021. ($1.01M proceeds)

130M 0
Feb 02, 2021

8-K filing: Outlook Therapeutics, Inc. completed a firm commitment offering of 35,000,000 shares of common stock at $1.00 per share on February 2, 2021, with H.C. Wainwright & Co., LLC as the sole book-running manager. ($35.0M proceeds)

130M 0
Dec 23, 2020

10-K filing | 127.2M shares outstanding

130M 0
Aug 14, 2020

10-Q filing | 127.2M shares outstanding

130M 0
Jun 23, 2020

8-K filing: Outlook Therapeutics, Inc. completed a registered direct offering of 8,407,411 shares of common stock at $1.215 per share, resulting in gross proceeds of approximately $10.2 million, and a private placement with Syntone Ventures LLC of 823,045 shares at $1.215 per share, for gross proceeds of approximately $1.0 million. ($11.2M proceeds)

91M 0
May 28, 2020

8-K filing: Outlook Therapeutics, Inc. entered into a Stock Purchase Agreement with Syntone Ventures LLC to sell 16,000,000 shares of common stock at $1.00 per share for gross proceeds of $16.0 million. ($16.0M proceeds)

91M 0
May 15, 2020

10-Q filing | 91.4M shares outstanding

91M 0
Apr 08, 2020

S-1 filing: This prospectus relates to the resale by the selling stockholders of up to 4,331,103 shares of common stock issuable upon the exercise of certain outstanding warrants.

43M 4.3M
Mar 24, 2020

8-K filing: On March 23, 2020, the Company issued 29,358,621 shares of its common stock upon conversion of 68,112 shares of Series A-1 Preferred outstanding and held by BioLexis Pte. Ltd. Effective March 19, 2020, the Company is issuing an aggregate of 7,244,739 shares of Common Stock to the four principals of MTTR pursuant to the terms of previously disclosed consulting agreements.

43M 0
Feb 24, 2020

8-K filing: Outlook Therapeutics, Inc. entered into securities purchase agreements to sell and issue 7,598,426 shares of common stock at $1.016 per share, and also agreed to sell warrants to purchase up to 3,799,213 shares in a concurrent private placement; GMS Ventures will purchase 2,460,630 shares of common stock and warrants. ($10.22M proceeds)

43M 0
Feb 14, 2020

10-Q filing | 43.1M shares outstanding

43M 0
Jan 31, 2020

8-K filing: Outlook Therapeutics amended warrants held by BioLexis to acquire 4,657,852 shares, reducing the exercise price to $0.232 per share, which BioLexis then exercised for approximately $1.1 million. They also entered into agreements with MTTR LLC to issue shares subject to stockholder approval. ($1.1M proceeds)

N/A 0
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