Why Osmotica Pharmaceuticals Jumped Today
On Thursday, Osmotica Pharmaceuticals (NASDAQ: OSMT) -- a small-cap biopharmaceutical company -- announced that the U.S. Food and Drug Administration (FDA) had approved Upneeq, a therapy the company developed for the treatment of acquired blepharoptosis. This approval seems to have investors excited, and it may have been the catalyst for Osmotica's shares soaring on Friday. The company closed the day up by 25.3%.
Acquired blepharoptosis is a condition that affects a patient's upper eyelid. And until now, there were no approved therapies for this disease. According to Osmotica, the market for Upneeq could be very lucrative. The company argues that millions of people have acquired blepharoptosis in the U.S. alone, with many more suffering from this condition in the rest of the world. According to one study, about 11.5% of adults over the age of 50 have acquired blepharoptosis.
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Source Fool.com
