Outlook Therapeutics Swings to $23.1M Net Loss in Q1 FY2026

Outlook Therapeutics reported a net loss of $23.1 million for the three months ending December 31, 2025, a sharp reversal from net income of $17.4 million in the same quarter last year. The Delaware-based biotech posted a loss of $0.38 per share compared to earnings of $0.72 per share a year earlier. Read more earnings reports.

The operating loss narrowed to $13.5 million from $21.6 million in the prior-year quarter. The company slashed research and development expenses by 62% to $3.6 million from $9.7 million, while selling, general and administrative costs dropped 28% to $8.6 million from $11.9 million.

Cash burn from operations widened to $14.9 million in the quarter from $11.0 million a year ago. The company raised $15.5 million through financing activities during the period, compared to $1.7 million in the year-ago quarter. Cash and restricted cash stood at $8.7 million as of December 31, up from $5.7 million a year earlier but down from $14.9 million at the start of fiscal 2026.

Total assets declined to $18.2 million from $18.6 million at the end of September. Current liabilities climbed to $49.1 million from $45.8 million over the same span. The company ended the quarter with a stockholders' deficit of $38.5 million, widening from $32.2 million three months earlier.

Accounts receivable fell sharply to $114,609 from $1.5 million at September 30. Inventory increased modestly to $3.5 million from $3.3 million. Accounts payable dropped to $7.3 million from $10.2 million during the quarter.

The company's accumulated deficit reached $628.8 million as of December 31. Common shares outstanding rose to 64.6 million from 53.9 million at the end of the prior quarter, reflecting dilution from financing activities.