The company faces a critical liquidity risk with a current ratio of 0.54 and a deeply negative equity position of $29.0 trillion, reflecting significant erosion of shareholder value.
| Total Current Assets | 20.9T | 17.39M | 27.42M | 30.98M | 27.52M | 21.51M | 17.94M | 13.5M | 3.3M | 3.9M | 5.68M | 3.15M | 15.16M |
| Cash & Short-Term Investments | 8.68M | 8.08M | 14.93M | 23.39M | 17.4M | 14.48M | 12.54M | 8.02M | 1.72M | 3.19M | 2.35M | 2.35M | 9.07M |
| Cash Only | 8.68M | 8.08M | 14.93M | 23.39M | 17.4M | 14.48M | 12.54M | 8.02M | 1.72M | 3.19M | 2.35M | 2.35M | 9.07M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.72M | 1.49M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.3M | 4.3M |
| Days Sales Outstanding | 1.66K | 384.99 | - | - | - | - | - | - | - | - | - | 300.74 | 173.41 |
| Inventory | 3.34T | 3.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 194.91M | 1.61K | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 9.81T | 4.48M | 12.49M | 7.59M | 0 | 324 | 0 | 1.7M | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 987.7B | 1.2M | 1.41M | 1.32M | 1.01M | 1.3M | 1.79M | 3.63M | 18.98M | 16.83M | 18.03M | 8.46M | 19.84M |
| Property, Plant & Equipment | 198.97B | 225.51K | 274.64K | 26.17K | 70.36K | 275.05K | 494.24K | 3.18M | 18.49M | 16.09M | 16.96M | 8.01M | 17.76M |
| Fixed Asset Turnover | 0.00x | 6.27x | - | - | - | - | - | 2.56x | 0.17x | 0.24x | 0.18x | 0.65x | 0.51x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 2.13M | 552.18K | 693.19K | 793.93K | 804.93K | 853.66K | 900K | 0 | 0 | 0 | 216.09K | 0 | 0 |
| Other Non-Current Assets | 788.72B | 417.52K | 439.28K | 501.3K | 132.01K | 174.59K | 394.45K | 457.48K | 491.04K | 740.36K | 852.8K | 447.55K | 2.08M |
| Total Assets | 21.89T | 18.58M | 28.82M | 32.3M | 28.53M | 22.81M | 19.73M | 17.13M | 22.28M | 20.73M | 23.71M | 11.6M | 35.01M |
| Asset Turnover | 0.00x | 0.08x | - | - | - | - | - | 0.48x | 0.14x | 0.18x | 0.13x | 0.45x | 0.26x |
| Asset Growth % | 99999819.27% | -35.52% | -10.77% | 13.23% | 25.06% | 15.6% | 15.16% | -23.1% | 7.47% | -12.54% | 104.3% | -66.85% | - |
| Total Current Liabilities | 38.88T | 45.81M | 42.55M | 46.73M | 19.73M | 6.75M | 15.89M | 20.29M | 32.04M | 28.74M | 20.44M | 20.21M | 37.04M |
| Accounts Payable | 13.64M | 10.19M | 7.97M | 6.57M | 3.49M | 2.2M | 2.39M | 2.28M | 3.61M | 10.95M | 5.07M | 11.56M | 11.56M |
| Days Payables Outstanding | 2.41K | 4.92K | 25.55K | 54.31K | 6.23K | 3.06K | 1.58K | 34.93 | 71.2 | 167.93 | - | - | - |
| Short-Term Debt | 62B | 29.95M | 29.44M | 35.55M | 10.92M | 904.2K | 3.66M | 11.34M | 17.86M | 4.67M | 5.2M | 14.96M | 14.96M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.74M | 3.09M | 1.21M | 1.5M | 1.98M |
| Other Current Liabilities | 38.82T | 3.03M | 0 | 1.83M | 1.45M | -217 | 3.21M | 5.56M | 4.17M | 3.69M | 2.16M | -12.44M | 2.98M |
| Current Ratio | 0.54x | 0.38x | 0.64x | 0.66x | 1.39x | 3.19x | 1.13x | 0.67x | 0.10x | 0.14x | 0.28x | 0.16x | 0.41x |
| Quick Ratio | 0.45x | 0.31x | 0.64x | 0.66x | 1.39x | 3.19x | 1.13x | 0.67x | 0.10x | 0.14x | 0.28x | 0.16x | 0.41x |
| Cash Conversion Cycle | 194.9M | -2.92K | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 12T | 4.96M | 59.35M | 6.22K | 61.41K | 11.45M | 1.02M | 7.61M | 11.05M | 22.72M | 8.47M | 14.94M | 27.22M |
| Long-Term Debt | 156.96B | 0 | 0 | 0 | 0 | 10.89M | 904.2K | 50.28K | 98.49K | 13.38M | 2.23M | 4.92M | 4.92M |
| Capital Lease Obligations | 721.89K | 188.8K | 246.92K | 0 | 4.27K | 43.01K | 42.48K | 3.37M | 3.45M | 28.07K | 320.74K | 1.22M | 1.22M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.45M | 2.27M | 0 | 4.66M | 14.43M |
| Other Non-Current Liabilities | 11.85T | 4.77M | 59.1M | 6.22K | 57.14K | 522.92K | 70.77K | 4.2M | 4.74M | 4.84M | 761.33K | 2.43M | 284.71K |
| Total Liabilities | 50.89T | 50.77M | 101.9M | 46.74M | 19.79M | 18.2M | 16.91M | 27.9M | 43.09M | 51.46M | 28.91M | 35.15M | 64.26M |
| Total Debt | 36.89M | 30.19M | 29.74M | 35.56M | 10.96M | 11.9M | 8.8M | 14.95M | 21.93M | 18.42M | 8.73M | 15.17M | 21.96M |
| Net Debt | 28.22M | 22.11M | 14.81M | 12.16M | -6.44M | -2.57M | -3.74M | 6.93M | 20.21M | 15.23M | 6.38M | 12.82M | 12.89M |
| Debt / Equity | -0.00x | - | - | - | 1.25x | 2.58x | 3.11x | - | - | - | - | - | - |
| Debt / EBITDA | -0.61x | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.47x | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -198.39x | -224.96x | -22.87x | -36.81x | -43.42x | -55.26x | -20.93x | -9.94x | -7.67x | -5.82x | -27.73x | -20.27x | -13.75x |
| Total Equity | -28.99T | -32.19M | -73.08M | -14.44M | 8.74M | 4.61M | 2.83M | -10.77M | -20.81M | -30.73M | -5.2M | -23.55M | -29.26M |
| Equity Growth % | -89317215.18% | 55.95% | -406.15% | -265.26% | 89.64% | 63.02% | 126.24% | 48.25% | 32.27% | -490.87% | 77.92% | 19.51% | - |
| Book Value per Share | -354303.38 | -1.26 | -3.94 | -1.15 | 0.82 | 0.60 | 0.78 | -11.84 | -58.78 | -204.49 | -48.34 | -250.65 | -2.24 |
| Total Shareholders' Equity | -28.99T | -32.19M | -73.08M | -14.44M | 8.74M | 4.61M | 2.83M | -10.77M | -20.81M | -30.73M | -5.2M | -23.55M | -28.6M |
| Common Stock | 1.05T | 538.87K | 239.06K | 2.6M | 2.27M | 1.76M | 1.27M | 286.1K | 722.2K | 249.34K | 228.03K | 39.84K | 39.84M |
| Retained Earnings | -633.22T | -605.71M | -543.28M | -467.92M | -408.94M | -342.88M | -289.72M | -254.48M | -216.31M | -186.22M | -147.39M | -45.15M | -94.06M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | -32.3T | 417.67M | -22.81T | -19.73T | 0 | 190.76M | -8.64M | -5.96M | -1.82M | -3.64M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.05K | -654.42K |
Imminent Liquidity and Dilution
As reported in recent financial statements, OTLK's equity position has remained deeply negative, with the most recent quarter showing a deficit of $29.0 trillion, a figure that highlights the severe and ongoing erosion of shareholder value driven by persistent operational losses and clinical development costs.
The consistent negative equity trend suggests that the company is effectively operating in a state of technical insolvency, relying entirely on external capital to fund its regulatory roadmap. Investors should monitor whether this trajectory can be reversed through successful commercialization or if it will continue to necessitate further dilutive financing.
Based on the latest quarterly filings, OTLK maintains a cash balance of approximately $8.7 million, which, when viewed against the company's historical burn rate, suggests a highly constrained liquidity position that leaves little room for operational errors or unexpected delays in the NORSE EIGHT clinical trial.
The current ratio of 0.54 indicates that current liabilities significantly outweigh current assets, signaling a high risk of liquidity stress. This imbalance implies that the company may struggle to meet its short-term obligations without immediate access to additional capital, which could prove costly given the current market environment.
According to the provided balance sheet data, OTLK carries approximately $36.9 million in debt, a significant burden for a pre-commercial entity that lacks consistent revenue streams to service interest or principal repayments, thereby increasing the overall risk profile for equity holders during this critical development phase.
The presence of this debt in a company with minimal assets and negative equity suggests that the firm is heavily reliant on debt financing to bridge its operational gaps. This leverage appears to be a necessity-driven strategy rather than a choice, which may limit management's strategic flexibility in future negotiations.
As evidenced by the extreme fluctuations in total assets and liabilities across recent quarters, the balance sheet appears heavily impacted by non-cash accounting adjustments, which may obscure the true underlying operational health and the actual cash-burn trajectory of the business as it pursues regulatory approval.
The volatility in reported asset values warrants further investigation, as these figures may not represent liquid or recoverable resources. Analysts should be cautious in interpreting these headline numbers, as they likely reflect accounting artifacts rather than the tangible value of the company's intellectual property or manufacturing capabilities.
Quick answers to the most common questions about buying OTLK stock.
As of 2025, Outlook Therapeutics, Inc. (OTLK) had total assets of $18.6M including $17.4M in current assets.
Outlook Therapeutics, Inc. (OTLK) carries total debt of $30.2M, offset by $8.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Outlook Therapeutics, Inc. (OTLK) has total shareholders' equity (book value) of $-32.2M ($-1.26 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Outlook Therapeutics, Inc. (OTLK) reported a current ratio of 0.38x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.