Estados financieros detallados de Outlook Therapeutics, Inc. (OTLK): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
Márgenes de los últimos 12 meses: margen bruto 195.6%, margen operativo 47.8%, margen neto 52.5%.
Al precio actual de $0.68, OTLK presenta beneficios negativos (P/E no significativo) y un ROE del 222.01%. La capitalización bursátil es de $127M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $3.0M | $3.8M | $3.1M | $8.1M | 0 | 0 | 0 | 0 | 0 | $1.4M |
| Coste de Ventas | 0 | $23.8M | $18.5M | $23.8M | $554069 | 0 | $204694 | 0 | 0 | $756330 |
| Beneficio Bruto | 0 | 0 | 0 | -$15.7M | -$554069 | 0 | -$204694 | 0 | 0 | $657205 |
| I+D | $32.8M | $23.8M | $18.5M | $23.8M | $26.3M | $39.0M | $42.3M | $26.5M | $41.8M | $27.8M |
| Generales y Administrativos | $21.6M | $15.9M | $14.2M | $9.4M | $8.1M | $12.8M | $20.7M | $26.7M | $29.9M | $39.9M |
| Gastos Operativos | $21.6M | $39.7M | $32.7M | $44.4M | $34.4M | $51.7M | $62.9M | $53.1M | $71.7M | $67.7M |
| Beneficio Operativo | -$51.3M | -$35.9M | -$29.6M | -$36.3M | -$35.0M | -$51.7M | -$63.1M | -$53.1M | -$71.7M | -$67.1M |
| EBITDA | -$49.0M | -$30.0M | -$26.8M | -$31.1M | -$34.4M | -$52.0M | -$64.4M | -$56.4M | -$72.1M | -$63.6M |
| Gastos por Intereses | $1.9M | $5.6M | $3.9M | $3.5M | $1.8M | $936127 | $1.5M | $2.5M | $3.2M | $283128 |
| Beneficio Antes de Impuestos | -$53.2M | -$38.3M | -$33.7M | -$37.9M | -$38.5M | -$53.2M | -$66.0M | -$59.0M | -$75.4M | -$64.0M |
| Impuestos | $103000 | $501500 | -$3.6M | -$3.4M | -$3.3M | $2000 | $2800 | $2800 | $2800 | -$1.6M |
| Beneficio Neto | -$53.3M | -$38.8M | -$30.1M | -$34.5M | -$35.2M | -$53.2M | -$66.1M | -$59.0M | -$75.4M | -$62.4M |
| BPA | $-587.20 | $-267.20 | $-194.80 | $-39.60 | $-13.47 | $-7.00 | $-6.23 | $-4.80 | $-4.06 | $-1.79 |
| BPA Diluido | $-587.20 | $-288.00 | $-85.00 | $-39.60 | $-13.47 | $-7.00 | $-6.23 | $-4.80 | $-4.06 | $-1.79 |
| Acciones en Circulación (Diluidas) | $107581 | $150261 | $354026 | $909591 | $3.6M | $7.6M | $10.6M | $12.5M | $18.5M | $25.5M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | -$91787 | -$1.2M | $127439 | $9000 |
| Beneficio Bruto | -$1.0M | -$1.2M | -$21888 | -$8000 |
| Beneficio Operativo | -$17.3M | -$13.5M | -$14.0M | -$10.8M |
| EBITDA | -$14.6M | -$13.5M | -$14.0M | -$20.3M |
| Beneficio Neto | -$13.3M | -$23.1M | -$4.5M | -$20.3M |
| BPA | $-0.52 | $-0.38 | $-0.17 | $-0.80 |
| BPA Diluido | $-0.52 | $-0.38 | $-0.17 | $-0.80 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $2.4M | $3.2M | $1.7M | $8.0M | $12.5M | $14.5M | $17.4M | $23.4M | $14.9M | $8.1M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cuentas por Cobrar | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $1.5M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $3.3M |
| Activos Corrientes | $5.7M | $3.9M | $3.3M | $13.5M | $17.9M | $21.5M | $27.5M | $31.0M | $27.4M | $17.4M |
| Inmovilizado Material | $17.0M | $16.1M | $18.5M | $3.2M | $494235 | $275054 | $70360 | $26172 | $274645 | $225508 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $23.7M | $20.7M | $22.3M | $17.1M | $19.7M | $22.8M | $28.5M | $32.3M | $28.8M | $18.6M |
| Cuentas por Pagar | $5.1M | $11.0M | $3.6M | $2.3M | $2.4M | $2.2M | $3.5M | $6.6M | $8.0M | $10.2M |
| Deuda a Corto | $5.2M | $4.7M | $17.9M | $11.3M | $3.7M | $904200 | $10.9M | $35.6M | $29.4M | $29.9M |
| Pasivos Corrientes | $20.4M | $28.7M | $32.0M | $20.3M | $15.9M | $6.8M | $19.7M | $46.7M | $42.6M | $45.8M |
| Deuda a Largo | $2.2M | $13.4M | $98487 | $50285 | $904200 | $10.9M | 0 | 0 | 0 | 0 |
| Pasivos Totales | $28.9M | $51.5M | $43.1M | $27.9M | $16.9M | $18.2M | $19.8M | $46.7M | $101.9M | $50.8M |
| Reservas | -$147.4M | -$186.2M | -$216.3M | -$254.5M | -$289.7M | -$342.9M | -$408.9M | -$467.9M | -$543.3M | -$605.7M |
| Patrimonio Neto | -$5.2M | -$30.7M | -$20.8M | -$10.8M | $2.8M | $4.6M | $8.7M | -$14.4M | -$73.1M | -$32.2M |
| Deuda Total | $8.7M | $18.4M | $21.9M | $14.9M | $8.8M | $11.9M | $11.0M | $35.6M | $29.7M | $30.2M |
| Deuda Neta | $6.4M | $15.2M | $20.2M | $6.9M | -$3.7M | -$2.6M | -$6.4M | $12.2M | $14.8M | $22.1M |
| Capital Circulante | -$14.8M | -$24.8M | -$28.7M | -$6.8M | $2.1M | $14.8M | $7.8M | -$15.8M | -$15.1M | -$28.4M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $8.1M | $8.7M | $7.7M | $11.2M |
| Activos Totales | $18.6M | $18.2M | $21.9M | $26.2M |
| Pasivos Totales | $50.8M | $56.8M | $50.9M | $36.6M |
| Patrimonio Neto | -$32.2M | -$38.5M | -$29.0M | -$10.4M |
| Deuda Total | $30.2M | $36.9M | $27.2M | $18.4M |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$53.3M | -$38.8M | -$46.1M | -$34.5M | -$35.2M | -$53.2M | -$66.1M | -$59.0M | -$75.4M | -$62.4M |
| Amortizaciones | $2.4M | $2.7M | -$3.1M | $3.4M | $554069 | $262140 | $204694 | $44188 | $113859 | $117052 |
| Compensación en Acciones | $12.5M | $8.6M | $2.0M | $1.3M | $2.8M | $4.9M | $7.7M | $5.5M | $5.4M | $8.9M |
| Cambio en Capital Circulante | -$7.0M | $11.2M | -$13.7M | -$13.2M | -$1.3M | -$7.1M | -$1.7M | $4.8M | -$3.0M | $4.9M |
| Flujo de Caja Operativo | -$45.5M | -$15.5M | -$33.0M | -$32.3M | -$31.8M | -$54.3M | -$56.7M | -$43.0M | -$68.8M | -$51.8M |
| Inversiones (CapEx) | -$1.1M | -$292086 | -$2.8M | -$437307 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | -$900000 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | -$16.98B | -$1.89T | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$46.6M | -$15.8M | -$35.8M | -$32.7M | -$31.8M | -$54.3M | -$56.7M | -$43.0M | -$68.8M | -$51.8M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$12.4M | -$14.9M | -$7.8M | -$22.0M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$12.4M | -$14.9M | -$7.8M | -$22.0M |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $1.8M | $881150 | $757484 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | +27.9% | -19.0% | +163.8% | -100.0% | | | | | |
| Crecimiento Beneficio Neto (anual) | | +27.1% | +22.5% | -14.7% | -2.1% | -50.9% | -24.2% | +10.7% | -27.8% | +17.2% |
| Crecimiento BPA (anual) | | +54.5% | +27.1% | +79.7% | +66.0% | +48.0% | +11.0% | +23.0% | +15.4% | +55.9% |
| Cambio en Acciones (anual) | | +39.7% | +135.6% | +156.9% | +298.8% | +110.4% | +38.9% | +18.0% | +48.3% | +37.3% |
| Crecimiento FCF (anual) | | +66.1% | -126.8% | +8.6% | +2.9% | -70.7% | -4.5% | +24.2% | -60.1% | +24.7% |
| Margen Bruto | 0.0% | 0.0% | 0.0% | -192.2% | | | | | | 46.5% |
| Margen Operativo | -1723.1% | -941.2% | -960.0% | -445.6% | | | | | | -4744.3% |
| Margen EBITDA | -1642.7% | -787.8% | -867.7% | -381.9% | | | | | | -4497.7% |
| Margen Neto | -1788.7% | -1019.1% | -974.5% | -423.8% | | | | | | -4416.2% |
| Margen FCF | -1563.1% | -414.4% | -1160.0% | -401.8% | | | | | | -3666.7% |
| Tasa Impositiva Efectiva | -0.2% | -1.3% | 10.8% | 9.0% | 8.5% | -0.0% | -0.0% | -0.0% | -0.0% | 2.4% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-432.98 | $-105.13 | $-101.18 | $-35.98 | $-8.76 | $-7.11 | $-5.34 | $-3.44 | $-3.71 | $-2.03 |
| Dividendo por Acción | $0.00 | $113036.65 | $5329961.64 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $90000 | $150139 | $154000 | $909591 | $3.6M | $7.6M | $10.6M | $12.5M | $18.5M | $25.5M |
Qué mirar en Biotech
La mayoría de biotechs pequeñas pierden dinero. Analizarlas con P/E no tiene sentido — mira caja y pipeline.
- Cash Runway — Meses de caja al ritmo de gasto actual. <18 meses = riesgo de dilución urgente
- Cash burn anual — Ritmo al que queman caja operativa. Comparar con posición de caja para proyectar runway
- Total Debt — Biotech sin ingresos + deuda = receta para bancarrota
- I+D / Capitalización — Cuánto invierten en pipeline vs lo que vale la empresa — indicador de intensidad investigadora
- Market cap / Cash — Si cotiza cerca de su caja, el mercado le da ~0 valor al pipeline — puede ser oportunidad o trampa
Rentabilidad
| Rentabilidad sobre capital | 222.01% |
| Rentabilidad sobre capital invertido | -343.68% |
| Rentabilidad sobre activos | -233.43% |
| Margen bruto | 195.64% |
| Margen operativo | 4783.05% |
| Margen neto | 5254.81% |
Salud financiera
| Deuda / Patrimonio | -1.77 |
| Ratio corriente | 0.81 |
| Piotroski F-Score | 3 |
| Altman Z-Score | -58.86 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -1.16 | -0.82 | -0.80 | -0.75 | -1.07 | -6.20 | -3.92 | -0.92 | -1.32 | -0.59 |
| P/VC | -11.77 | -1.07 | -1.16 | -2.52 | 18.49 | 71.91 | 29.62 | -3.83 | -1.36 | -0.84 |
| P/V | 20.54 | 8.63 | 7.82 | 3.33 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 19.10 |
| Margen Bruto | 0.0% | 0.0% | 0.0% | -192.2% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 46.5% |
| Margen Operativo | -1723.1% | -941.2% | -960.0% | -445.6% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -4744.3% |
| Margen Neto | -1788.7% | -1019.1% | -974.5% | -423.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -4416.2% |