Outlook Therapeutics falls after starting equity offering

Shares of Outlook Therapeutics OTLK.O down ~13% post-market as it looks to raise equity

New Jersey-based biopharma commences offering of stock and accompanying warrants; deal size not disclosed

Co intends to use net offering proceeds to support commercialization of its eye-disease drug, Lytenava, in the U.S., and for working capital and other purposes

Piper Sandler and BTIG joint bookrunners

On Jul 24, U.S. FDA approved the drug to treat wet age-related macular degeneration (AMD)

OTLK closed down 2.7% at $1.10 on Weds, down 30% YTD

Co has ~187 mln shares outstanding