PHILADELPHIA, PA / ACCESSWIRE / October 28, 2019 / Kaskela Law LLC is investigating Osmotica Pharmaceuticals plc ("Osmotica" or the "Company") (OSMT) on behalf of the Company's investors. The investigation seeks to determine whether Osmotica violated the federal securities laws in connection with and following the Company's initial public offering ("IPO") of securities.
In October 2018, Osmotica completed its IPO, selling over 7.6 million shares of common stock to investors at $7.00 per share, for gross proceeds of over $53 million.
Less than six months later, on March 27, 2019, Osmotica announced preliminary clinical trial results for a second Phase III study of Arbaclofen extended-release (ER) tablets for the treatment of spasticity associated with Multiple Sclerosis (MS). Therein, the Company disclosed "mixed" study results, and reported that "Arbaclofen did not demonstrate superiority to placebo as measured by the CGIC (Clinical Global Impression of Change)."
Following this news, shares of the Company's common stock declined $2.74 per share, or over 40% in value, to close on March 28, 2019 at $4.00 per share.
Investors who purchased shares of Osmotica's common stock and suffered an investment loss are encouraged to contact Kaskela Law LLC at (888) 715-1740, or online at http://kaskelalaw.com/case/osmotica-pharmaceuticals/, for additional information about this investigation and their legal rights and options.
Kaskela Law LLC represents investors in securities fraud and shareholder rights litigation. For additional information about Kaskela Law LLC please visit www.kaskelalaw.com. This notice may constitute attorney advertising in certain jurisdictions.
SOURCE: Kaskela Law LLC
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