Osmotica Pharmaceuticals PLC (OSMT) is a leading innovative pharmaceutical company that develops and commercializes formulations targeting underserved patients. One of the main product candidates of the company is M-72 for the treatment of attention deficit hyperactivity disorder. Osmolex ER can treat Parkinson’s disease, Arbaclofen for treatment of multiple sclerosis spasticity, and OS870 for the cure of neurodegenerative diseases. The company also makes products for women’s reproductive health. UPNEEQ, a 0.1% ophthalmic solution as the medication of droopy eyelid or acquired blepharoptosis.
The price of OSMT Stock during the regular trading of December 20, 2021, was $1.03 with a rise of 4.67%. At last check in the aftermarket, the price of stock further inclined by 3.88%.
Events and Happenings
On December 20, 2021, OSMT reported that the company’s top management will represent the company at the Virtual H.C. Wainwright Bioconnect Conference on January 10, 2022.
On November 15, 2021, OSMT reported the financial outcomes for the third quarter ended September 30, 2021. Some of the key highlights are as follows
Third-quarter 2021 total revenue was $2.2 million, as opposed to the revenue of $25.8 million for Q3 2020, with a significant decrease.
Net Loss per Share
Basic and diluted net loss per share was $17 million or $0.28 per share for Q3 2021 as opposed to the same period prior year when it was $8.6 million or $0.14 per share.
Total current assets reported for the period of Q3 2021 were $23.3 million.
On November 15, 2021, OSMT reported that the top company management represented the company at the Jefferies London Healthcare Conference 2021 virtually held on November 18, 2021. On October 13, 2021, OSMT informed that on October 12, 2021, the company shut the underwritten public offering of 14,000,000 ordinary shares of the Company and warrants at a public offering price of $2.50 per share and warrant. The warrants had an exercise price of $3.10 per share and will expire three and a half years from the date of issue.
On October 07, 2021, OSMT reported about its entry into a note purchase contract for $100 million of older secured notes with funds managed by Athyrium Capital Management.
On September 22, 2021, OSMT reported that the top management of the company represented the company at a virtually held Cantor Global Healthcare Conference on September 27, 2021. On September 02, 2021, OSMT reported another presence of company officials at the 23rd H.C. Wainwright Annual Global Investment Conference held on September 13, 2021.
Although the OSMT stock declined 29% from the past month, yet the company is gaining its lost momentum and is coming on track as seen in the regular trading and aftermarket sessions. This positive output is possibly due to some announcements made by the company regarding its appearance at global conferences. The investors are hopeful that the company will reap the benefits of its fruitful efforts towards attracting investors.