What caused OTLK's net profit surge in Q3 2024?

Outlook Therapeutics (OTLK) experienced a significant surge in net profit in Q3 2024, primarily driven by two key factors: 1. **Financial Support from Warrant Exercises**: The company received approximately $5.5 million from the conversion of certain warrants, which not only boosted its cash position but also reduced the outstanding convertible notes balance significantly. This financial injection allowed Outlook Therapeutics to manage its expenses more effectively, contributing to the net profit surge. 2. **Cost Management and Expense Reduction**: The company reported a decrease in its outstanding convertible notes balance to approximately $30.3 million, indicating effective cost management. Additionally, the cash position of $32 million, coupled with expected proceeds from warrant exercises, supported the company's financial stability and reduced financial burdens, thereby enhancing profitability. In summary, the net profit surge in Q3 2024 was primarily caused by financial support from warrant exercises and cost management.