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Here is why Osmotica Pharmaceuticals plc (OSMT) stock plummeted in the after-hours on Wednesday?

DTSS Stock

DTSS Stock

Osmotica Pharmaceuticals plc (OSMT) shares plunged 22.88% in after-hours on Wednesday, October 6, 2021, and closed the daily trading at $2.36. In the regular trading session of Wednesday, OSMT’s stock price remained unchanged. OSMT shares have fallen 47.24% over the last 12 months, and they have moved up by 8.51% in the past week. Over the past three months, the stock has gained 4.79%, while over the past six months, it has declined 5.56%.

Let’s see is there any recent news behind its recent loss?


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OSMT Proposed Underwritten Public Offering

On October 06, 2021, Osmotica Pharmaceuticals plc (OSMT) commenced an underwritten public offering of its ordinary shares and warrants to purchase its ordinary shares. the underwriters can buy 15% more shares within a one-month time limit at the same price. The offer is subject to market and other conditions.

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OSMT participation in the recent investor conference

Osmotica Pharmaceuticals plc recently participated at the Cantor Virtual Global Healthcare Conference which was held on September 27, 2021. The company was presented by Brian Markison, Chief Executive Officer, James “JD” Schaub, Chief Operating Officer, and Andrew Einhorn, Chief Financial Officer, during the event.

OSMT also participated at the H.C. Wainwright 23rd Annual Global Investment Conference which was held on September 13, 2021. Brian Markison, Chief Executive Officer, and James “JD” Schaub, Chief Operating Officer presented the company during the event.

OSMT closed the deal with Alora Pharmaceuticals

On August 30, 2021, Osmotica Pharmaceuticals plc (OSMT) closed the previously announced sale of its legacy business, including certain of the Company’s US subsidiaries dedicated to the legacy and its Marietta, Georgia, manufacturing facility, to Alora Pharmaceuticals, LLC. The total proceeds of $111 million from the sale will be used to retire a substantial portion of the Company’s outstanding debt.

OSMT recent financial results announcement

On August 16, 2021, Osmotica Pharmaceuticals plc (OSMT) announced its financial results for the three months ended June 30, 2021.

Q2 2021 financial highlights

Conclusion

In our opinion, the proposed underwritten public offering of common stock was the reason behind its plummeting in the after-hours on Wednesday. we hope that it will return towards positivity in the coming trading sessions.

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