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

Osmotica Pharmaceuticals plc OSMT will change its name to RVL Pharmaceuticals plc and start trading under the new ticker 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.