Osmotica Pharma Announces Rebranding As RVL Pharma, Issues Q4 Sales Outlook

Author: Vandana Singh | January 19, 2022 11:53am

Osmotica Pharmaceuticals plc (NASDAQ:OSMT) will change its name to RVL Pharmaceuticals plc and start trading under the new ticker (NASDAQ:RVLP).

• The Company says that the rebranding reflects RVL's strategy to become a growth company in eye care and medical aesthetics.
• Upon FDA approval in 2020, the Company launched Upneeq (oxymetazoline hydrochloride ophthalmic solution), the first and only FDA-approved ophthalmic solution for acquired blepharoptosis (droopy eyelid(s)) or ptosis. 
• Related: Osmotica Under Pressure On $35M Equity Raise To Pay Off Debt.
• The Company also posted Q4 FY21 net sales for Upneeq grew by approximately 41% sequentially, to $3.1 million.
• The cumulative unique pharmacy prescribers at year-end 2021 was 10,500, +30% Q/Q.
• At year-end 2021, approximately 1,000 eye care providers participated in the direct dispense program.
• Optometry accounted for about 62% of Upneeq's prescriber base, with ophthalmology representing approximately 38%.
• The prescription mix for Upneeq was approximately 60% for 30-count equivalent units and 40% for the 90-count equivalent units in Q4 FY21.
• When combined with the direct dispense program, the Company sold over 39,000 30-count equivalent units in Q4, an approximately 50% increase from the 26,500 30-count equivalent units sold q3 FY21.
• The Company is targeting Q4 FY22 net sales of $20 million and $25 million combined between eyecare and medical aesthetics.
• Price Action: OSMT shares are up 2.70% at $1.14 during the market session on the last check Wednesday.

Posted In: OSMT RVLP