Outlook Therapeutics, Inc. Common Stock

ISELIN, N.J., April 15, 2024 (GLOBE NEWSWIRE) -- Outlook Therapeutics, Inc. (Nasdaq: OTLK), a biopharmaceutical company working to achieve the first approval for an ophthalmic formulation of bevacizumab for the treatment of retinal diseases in the US and the EU, today announced that it has closed its previously announced private placement with Syntone Ventures, LLC, an existing stockholder, for upfront gross proceeds of approximately $5.0 million from the issuance and sale of shares of the Company’s common stock and accompanying warrants, before deducting offering expenses. In addition, Outlook Therapeutics has the potential to receive additional gross proceeds of up to $8 million upon the full cash exercise of the warrants issued in the private placement, before deducting offering expenses.

Related tickers: OTLK.

Although U.S. stocks closed mixed on Thursday, there were a few notable insider trades. When insiders purchase shares, it indicates their confidence in the company's prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision. Below is a look at a few recent notable insider purchases. For more, check out Benzinga's insider transactions platform. CION Investment The Trade: CION Investment Corporation (NYSE: CION) Co-Chairman & Co-CEO Mark Gatto acquired ...

Related tickers: RKT, OTLK, CION.