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Osmotica Pharmaceuticals announced the pricing of a public offering of 14,000,000 ordinary shares and warrants at $2.50 per share, targeting gross proceeds of $35 million. The warrants, strike price of $3.10, are immediately exercisable and expire in three and a half years. The underwriter, H.C. Wainwright & Co., holds a 30-day option to purchase 2,100,000 additional shares and/or warrants. The offering is expected to close on October 12, 2021, subject to customary conditions. This capital infusion aims to support the company's strategic initiatives.
Osmotica Pharmaceuticals plc (Nasdaq: OSMT) has initiated an underwritten public offering of its ordinary shares and warrants. The company is granting the underwriter a 30-day option to purchase additional shares or warrants, which equals 15% of the offering size. The offering is contingent upon market conditions, with no guarantee on completion or specific terms. H.C. Wainwright & Co. serves as the book-running manager. A shelf registration statement has been filed with the SEC, allowing for the public offering to be conducted through a prospectus supplement available on the SEC's website.
Osmotica Pharmaceuticals (Nasdaq: OSMT) will present at the Cantor Virtual Global Healthcare Conference on September 27, 2021, at 10:00 a.m. Eastern Time. CEO Brian Markison, COO JD Schaub, and CFO Andrew Einhorn will lead the presentation, which will be available via live webcast and archived for 30 days on Osmotica’s website. The company focuses on developing and commercializing products for underserved patient populations, with their recent launch of UPNEEQ, approved for treating droopy eyelids in adults.
Osmotica Pharmaceuticals (Nasdaq: OSMT) announced that CEO Brian Markison and COO James Schaub will present at the H.C. Wainwright 23rd Annual Global Investment Conference on September 13, 2021. The presentation will be available on demand and can be accessed through a webcast link provided in the announcement. Osmotica specializes in developing products for underserved markets and launched UPNEEQ for treating droopy eyelids in September 2020. The webcast will be archived for 30 days on the company's website.
Osmotica Pharmaceuticals has successfully completed the sale of its legacy business, including US subsidiaries and its Marietta, Georgia manufacturing facility, to Alora Pharmaceuticals for approximately $111 million. This divestiture is a key strategic move to focus on UPNEEQ, the first FDA-approved treatment for acquired ptosis in adults. The proceeds will be used to significantly reduce the company's debt. CEO Brian Markison highlighted the intention to accelerate commercial growth for UPNEEQ and establish a new category in ocular aesthetics.
Osmotica Pharmaceuticals (OSMT) reported a significant second quarter for 2021, with total revenue reaching $11.5 million, including a $10 million milestone payment from Santen Pharmaceutical. The company noted a nearly 100% increase in Upneeq prescriptions from the first quarter, with over 7,000 unique prescribers now on board. However, net loss from continuing operations was $22 million, up from $17.5 million in Q2 2020. As of June 30, 2021, Osmotica held $99.8 million in cash but reported $214.7 million in debt.
Osmotica Pharmaceuticals plc (Nasdaq: OSMT) announced that CEO Brian Markison and COO James Schaub will present at the H.C. Wainwright Ophthalmology Virtual Conference on August 17, 2021. The presentation will be available on demand and archived for 30 days on the Company’s website. Osmotica focuses on developing specialty products for underserved markets, with subsidiaries including RVL Pharmaceuticals for ophthalmic products. The Company operates in the U.S. and Hungary.
Osmotica Pharmaceuticals (Nasdaq: OSMT) will announce its 2021 second quarter financial results on August 16, 2021, after U.S. markets close. A conference call led by CEO Brian Markison, COO James Schaub, and CFO Andrew Einhorn will follow the announcement at 4:30 p.m. ET. Investors can access the call via toll-free numbers or international lines, and a replay will be available on the company’s website. Osmotica focuses on developing specialty products for underserved markets, operating in both the U.S. and Hungary.
Osmotica Pharmaceuticals announced that J. Aaron Green will join RVL Pharmaceuticals as Vice President of Sales and Market Development, effective July 6, 2021. Aaron brings over 20 years of experience in eye care and medical aesthetics, previously serving in leadership roles at Galderma and Alcon Laboratories. His appointment is seen as a strategic move to bolster RVL's growth in ocular aesthetics and expand the market for UPNEEQ. Brian Markison, CEO, expressed confidence in Aaron's capabilities to enhance organizational strength during this pivotal growth period.
Osmotica Pharmaceuticals has announced a definitive agreement with Alora Pharmaceuticals for the acquisition of its legacy products and manufacturing operations in Marietta, Georgia, for up to $170 million. The deal includes an upfront cash payment of $110 million and potential milestone payments of $60 million. Osmotica will retain its ophthalmology and aesthetics business, including its flagship product UPNEEQ, and arbaclofen ER tablets for MS spasticity. This transaction is expected to close in Q3 2021 and aims to reduce debt and enhance commercialization of UPNEEQ.
