Osmotica Pharmaceuticals plc (OSMT) Preliminary Results Fail to Beat Placebo

On March 27, 2019, after the markets closed, Osmotica Pharmaceuticals plc (OSMT) announced preliminary results for a second Phase 3 clinical trial of arbaclofen extended-release tablets that failed to beat placebo as measured by the Clinical Global Impression of Change. On this news, shares of Osmotica fell $2.74, or nearly 41%, to close at $4.00 on March 28, 2019, and has yet to recover.