Outlook Therapeutics shares rise 10.8% intraday after securing $18.4M note and extending Avondale debt maturity.

Outlook Therapeutics surged 10.80% intraday following the announcement of a $18.4 million non-convertible note with Atlas Sciences and an amendment to its Avondale convertible note. The new financing, netting $17 million after a $1.36 million discount, will reduce the existing Avondale debt to $10.8 million and extend its maturity to December 31, 2026. The new note, with a 9.5% minimum interest rate and a 15-month term, provides liquidity while restructuring debt obligations. The move signals improved financial flexibility, reducing immediate repayment pressure and aligning with the company’s focus on commercializing LYTENAVA™ for wet AMD in Europe and advancing U.S. regulatory efforts. The refinancing and debt management measures were broadly interpreted as positive catalysts for investor confidence.