RVL Pharmaceuticals (RVLPQ) 10-Q 8 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 07, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Document Period End Date	Jun. 30, 2019
Entity Registrant Name	Osmotica Pharmaceuticals plc
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	true
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		52,518,924
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001739426
Amendment Flag	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 63,736,997	$ 70,834,496
Trade accounts receivable, net	68,142,413	56,423,866
Inventories, net	27,875,268	24,383,021
Prepaid expenses and other current assets	14,220,119	20,743,685
Total current assets	173,974,797	172,385,068
Property, plant and equipment, net	31,084,436	31,263,432
Operating lease assets	6,375,357
Intangibles, net	330,887,844	490,389,723
Goodwill	100,854,816	100,854,816
Other non‑current assets	658,069	751,927
Total assets	643,835,319	795,644,966
Current liabilities:
Trade accounts payable	18,916,544	24,869,593
Accrued liabilities	75,524,908	87,236,940
Current portion of long‑term debt, net of deferred financing costs	991,459	1,774,199
Current portion of obligation under finance leases, ASC842	130,505
Current portion of obligation under finance leases, ASC840		119,344
Current portion of lease liability	2,206,038
Income taxes payable - current portion	134,405	393,552
Total current liabilities	97,903,859	114,393,628
Long‑term debt, net of non‑current deferred financing costs	267,365,629	266,802,911
Long-term portion of obligation under finance lease, ASC842	101,363
Long‑term portion of obligation under finance leases, ASC840		137,949
Long-term portion of lease liability	4,382,686
Income taxes payable - long-term portion	1,803,512	1,803,512
Deferred taxes	14,367,524	26,237,841
Total liabilities	385,924,573	409,375,841
Commitments and contingencies (See Note 12)
Shareholders' Equity
Ordinary shares ($0.01 nominal value 400,000,000 shares authorized, 52,518,924 share issued and outstanding at June 30, 2019 and December 31, 2018)	525,189	525,189
Additional paid in capital	492,445,699	489,949,791
Accumulated deficit	(233,213,959)	(102,359,672)
Accumulated other comprehensive loss	(1,846,183)	(1,846,183)
Total shareholders' equity	257,910,746	386,269,125
Total liabilities and shareholders' equity	$ 643,835,319	$ 795,644,966

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parentheticals)	Jun. 30, 2019$ / sharesshares	Jun. 30, 2019€ / sharesshares	Dec. 31, 2018$ / sharesshares	Dec. 31, 2018€ / sharesshares
CONSOLIDATED BALANCE SHEETS
Ordinary shares, nominal value (in dollars per share) | $ / shares	$ 0.01		$ 0.01
Ordinary shares, number of shares authorized	400,000,000	400,000,000	400,000,000	400,000,000
Ordinary shares, number of shares issued	52,518,924	52,518,924	52,518,924	52,518,924
Ordinary shares, number of shares outstanding	52,518,924	52,518,924	52,518,924	52,518,924
Preferred shares, nominal value (in dollars per share) | $ / shares	$ 0.01		$ 0.01
Preferred shares, number of shares authorized	40,000,000	40,000,000	40,000,000	40,000,000
Preferred shares, number of shares issued	0	0	0	0
Preferred shares, number of shares outstanding	0	0	0	0
Euro deferred shares, nominal value (in euros per share) | € / shares		€ 1		€ 1
Euro deferred shares, number of shares authorized	25,000	25,000	25,000	25,000
Euro deferred shares, number of shares issued	0	0	0	0
Euro deferred shares, number of shares outstanding	0	0	0	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues	$ 57,532,381	$ 71,858,902	$ 114,658,727	$ 131,659,752
Cost of goods sold (inclusive of amortization of intangibles)	32,643,961	33,676,464	61,847,242	67,338,130
Gross profit	24,888,420	38,182,438	52,811,485	64,321,622
Selling, general and administrative expenses	25,512,488	16,675,943	47,168,154	33,837,905
Research and development expenses	5,360,196	8,866,779	15,124,456	18,941,080
Impairment of intangibles	125,765,610		125,765,610
Total operating expenses	156,638,294	25,542,722	188,058,220	52,778,985
Operating income (loss)	(131,749,874)	12,639,716	(135,246,735)	11,542,637
Interest expense and amortization of debt discount	4,551,590	5,241,360	9,052,208	10,084,399
Other non-operating expense (gain)	14,734	(309,145)	(542,213)	(446,598)
Total other non-operating expense (gain)	(4,566,324)	(4,932,215)	(8,509,995)	(9,637,801)
Income (loss) before income taxes	(136,316,198)	7,707,501	(143,756,730)	1,904,836
Income tax benefit (expense)	11,662,211	(1,819,402)	12,902,443	(624,083)
Net income (loss)	(124,653,987)	5,888,099	(130,854,287)	1,280,753
Other comprehensive loss, net
Change in foreign currency translation adjustments		(722,230)		(1,090,344)
Comprehensive income ( loss)	$ (124,653,987)	$ 5,165,869	$ (130,854,287)	$ 190,409
Income (loss) per share attributable to shareholders
Income (loss) per share basic and diluted	$ (2.37)	$ 0.14	$ (2.49)	$ 0.03
Weighted average shares basic and diluted
Weighted average shares basic and diluted	52,518,924	42,855,722	52,518,924	42,855,722
Product Revenue
Revenues	$ 56,215,280	$ 71,985,642	$ 112,615,222	$ 130,819,848
Royalty Revenue
Revenues	779,776	(210,548)	1,500,983	752,280
Licensing and Contract Revenue
Revenues	$ 537,325	$ 83,808	$ 542,522	$ 87,624

CONSOLIDATED STATEMENTS OF OP_2

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS (Parentheticals) - shares	Oct. 21, 2018	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Statement [Abstract]
Weighted average ordinary units			1,000,367	1,000,367
Option shares multiple	42.84	42.84		42.84

STATEMENTS OF CHANGES IN EQUITY

STATEMENTS OF CHANGES IN EQUITY - USD ($)	Ordinary shares	Additional Paid-in Capital [Member]	Accumulated deficit	Partners' capital [Member]	Accumulated other comprehensive loss	Total
Increase (Decrease) in Partners' Capital [Roll Forward]
Cumulative effect of change in accounting standard				$ 1,047,477		$ 1,047,477
Partners' Capital, Beginning Balance at Dec. 31, 2017				436,416,914	$ (633,146)	435,783,768
Increase (Decrease) in Partners' Capital [Roll Forward]
Partners’ distributions				(2,026)		(2,026)
Partners' Capital, Ending Balance at Mar. 31, 2018				432,855,019	(1,001,260)	431,853,759
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss				(4,607,346)		(4,607,346)
Change in foreign currency translation					(368,114)	(368,114)
Partners' Capital, Beginning Balance at Dec. 31, 2017				436,416,914	(633,146)	435,783,768
Partners' Capital, Ending Balance at Jun. 30, 2018				438,743,118	(1,723,490)	437,019,628
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss						1,280,753
Change in foreign currency translation						(1,090,344)
Partners' Capital, Beginning Balance at Mar. 31, 2018				432,855,019	(1,001,260)	431,853,759
Partners' Capital, Ending Balance at Jun. 30, 2018				438,743,118	(1,723,490)	437,019,628
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss				$ 5,888,099		5,888,099
Change in foreign currency translation					(722,230)	(722,230)
Shares, Outstanding	52,518,924
Stockholders' equity, beginning balance at Dec. 31, 2018	$ 525,189	$ 489,949,791	$ (102,359,672)		(1,846,183)	386,269,125
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss			(6,200,300)			(6,200,300)
Share compensation, value		1,168,863				1,168,863
Stockholders' equity, ending balance at Mar. 31, 2019	525,189	491,118,654	(108,559,972)		(1,846,183)	381,237,688
Stockholders' equity, beginning balance at Dec. 31, 2018	525,189	489,949,791	(102,359,672)		(1,846,183)	386,269,125
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss						(130,854,287)
Stockholders' equity, ending balance at Jun. 30, 2019	$ 525,189	492,445,699	(233,213,959)		(1,846,183)	257,910,746
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares, Outstanding	52,518,924
Stockholders' equity, beginning balance at Mar. 31, 2019	$ 525,189	491,118,654	(108,559,972)		(1,846,183)	381,237,688
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss			(124,653,987)			(124,653,987)
Share compensation, value		1,327,045				1,327,045
Stockholders' equity, ending balance at Jun. 30, 2019	$ 525,189	$ 492,445,699	$ (233,213,959)		$ (1,846,183)	$ 257,910,746
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Shares, Outstanding	52,518,924

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (130,854,287)	$ 1,280,753
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	35,991,509	40,866,608
Share compensation	2,495,908
Impairment of intangibles	125,765,610
Deferred income tax benefit	(11,870,317)	(4,309,577)
Loss on sale of fixed assets	53,326
Bad debt provision	(157,175)	(239,604)
Amortization of deferred financing and loan origination fees	656,574	839,107
Change in operating assets and liabilities:
Trade accounts receivable, net	(11,561,372)	(23,112,006)
Inventories, net	(3,492,247)	(9,078,808)
Prepaid expenses and other current assets	6,523,566	5,800,117
Trade accounts payable	(5,953,049)	(5,419,606)
Accrued and other current liabilities	(11,757,817)	(6,680,941)
Net cash used in operating activities	(4,159,771)	(53,957)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchase of property, plant and equipment	(2,091,148)	(2,181,262)
Net cash used in investing activities	(2,091,148)	(2,181,262)
CASH FLOWS FROM FINANCING ACTIVITIES:
Payments to affiliates		(2,026)
Payments on finance lease obligations, ASC842	(63,843)
Payments on finance lease obligations, ASC840		(54,391)
Proceeds from insurance financing loan	1,314,246	974,699
Repayment of insurance financing loan	(2,096,983)	(194,960)
Repayment of debt		(4,093,376)
Net cash used in financing activities	(846,580)	(3,370,054)
Net change in cash and cash equivalents	(7,097,499)	(5,605,273)
Effect on cash of changes in exchange rate		(729,633)
Cash and cash equivalents, beginning of period	70,834,496	34,743,152
Cash and cash equivalents, end of period	63,736,997	28,408,246
Supplemental disclosure of cash and non‑cash transactions:
Cash paid for interest	8,271,400	9,669,384
Cash paid for taxes	$ 365,332	$ 265,447

Organization and Nature of Oper

Organization and Nature of Operations	6 Months Ended
	Jun. 30, 2019
Organization and Nature of Operations
Organization and Nature of Operations	Note 1. Organization and Nature of Operations Osmotica Pharmaceuticals plc (formerly known as Lilydale Limited and Osmotica Pharmaceuticals Limited) is an Irish public limited company. Osmotica Holdings S.C.Sp. acquired Osmotica Pharmaceuticals plc on April 30, 2018 for the purpose of facilitating an offering of ordinary shares in an initial public offering (“IPO”). On October 22, 2018, Osmotica Pharmaceuticals plc completed its IPO, in which it issued and allotted 7,647,500 ordinary shares at a public offering price of $7.00 per share. The number of shares issued in the IPO reflected the exercise in full of the underwriters’ option to purchase 997,500 additional ordinary shares. In addition, the Company issued and allotted 2,014,285 ordinary shares at the public offering price in a private placement to investment funds affiliated with Avista Capital Partners, Altchem Limited and an entity controlled by the Company’s Chief Financial Officer. The aggregate net proceeds from the IPO and the private placement were approximately $58.1 million after deducting underwriting discounts and commissions and estimated offering expenses. Immediately prior to the IPO and prior to the commencement of trading of Osmotica Pharmaceuticals plc’s ordinary shares on the Nasdaq Global Select Market, Osmotica Holdings S.C.Sp. undertook a series of restructuring transactions that resulted in Osmotica Pharmaceuticals plc being the direct parent of Osmotica Holdings S.C.Sp with each holder of common units of Osmotica Holdings S.C.Sp. receiving approximately 42.84 ordinary shares of Osmotica Pharmaceuticals plc in exchange for each such common unit. In addition, each holder of an option to purchase common units of Osmotica Holdings S.C.Sp. received an option to purchase the number of ordinary shares of Osmotica Pharmaceuticals plc determined by multiplying the number of units underlying such option by approximately 42.84 (rounded down to the nearest whole share) and dividing the exercise price per unit for such option by approximately 42.84 (rounded up to the nearest whole cent). These transactions are referred to as the “Reorganization”. Until the Reorganization, Osmotica Pharmaceuticals plc did not conduct any operations (other than activities incidental to its formation, the Reorganization and the pursuit of an initial public offering). Upon the completion of the Reorganization, the historical consolidated financial statements of Osmotica Holdings S.C.Sp. became the historical financial statements of Osmotica Pharmaceuticals plc. Accordingly, the accompanying unaudited condensed consolidated financial information as of and for the three and six months ended June 30, 2018 included herein reflect the financial information of Osmotica Holdings S.C.Sp. Osmotica Holdings S.C.Sp.is a Luxembourg special limited partnership, formed on December 3, 2015 in connection with a business combination (the “Merger”), effective February 3, 2016, pursuant to a definitive agreement among Osmotica Holdings S.C.Sp., Vertical/Trigen Holdings, LLC (“Vertical/Trigen”) and its members, and Osmotica Holdings Corp Limited and its shareholders, among others. Osmotica Holdings S.C.Sp. and several other holding companies and partnerships were formed as a result of the Merger. Pursuant to the Merger, Vertical/Trigen was deemed to be the accounting acquirer. Osmotica is a fully integrated biopharmaceutical company focused on the development and commercialization of specialty products that target markets with underserved patient populations. Unless otherwise indicated or required by the context, references throughout to “Osmotica,” or the “Company”, refer to (i) prior to the completion of the Reorganization, Osmotica Holdings S.C.Sp. and its consolidated subsidiaries, including, from and after April 30, 2018, Osmotica Pharmaceuticals plc, and (ii) following the completion of the Reorganization, Osmotica Pharmaceuticals plc and its consolidated subsidiaries, including Osmotica Holdings S.C.Sp.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2019
Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation and Summary of Significant Accounting Policies	Note 2. Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation —The accompanying unaudited condensed consolidated financial statements included herein have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and under the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim reporting. In management’s opinion, the interim financial data presented includes all adjustments (consisting solely of normal recurring items) necessary for fair presentation. All intercompany accounts and transactions have been eliminated. Certain information required by GAAP has been condensed or omitted in accordance with rules and regulations of the SEC. Operating results for the three and six months ended June 30, 2019, are not necessarily indicative of the results that may be expected for any future period or for the year ending December 31, 2019 or any period thereafter. The accompanying Condensed Consolidated Balance Sheet data as of December 31, 2018 was derived from the audited consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2018. Except for the lease accounting policy that was updated as a result of adopting Accounting Standards Update (“ASU”) No. 2016‑02, ( Leases Accounting Standards Codification (“ASC”) Topic 842), the Company’s significant accounting policies have not changed substantially from those previously described in the notes to the consolidated financial statements for the year ended December 31, 2018 that are included in the Company’s most recent Annual Report on Form 10-K. Basic and Diluted Loss per Share —Basic and diluted net loss per share is determined by dividing net loss by the weighted average ordinary shares outstanding during the period. For all periods presented with a net loss, the shares underlying the ordinary share options have been excluded from the calculation because their effect would be anti‑dilutive. Therefore, the weighted-average shares outstanding used to calculate both basic and diluted loss per share are the same for periods with a net loss. The following potentially dilutive securities have been excluded from the computation of diluted weighted average shares outstanding as they would be anti‑dilutive as of June 30, 2019 and 2018: Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Restricted stock units 1,438,016 — 1,438,016 — Options to purchase ordinary shares 3,169,222 3,028,788 (a) 3,169,222 3,015,936 (a) (a) Represents 70,700 units for the three months ended June 30, 2018 and 70,400 units for the six months ended June 30, 2018 multiplied by approximately 42.84 (rounded down to the nearest whole share), which was the ratio at which common units of Osmotica Holdings S.C.Sp. were converted to ordinary shares of Osmotica Pharmaceuticals plc immediately prior to the Company’s initial public offering. See Note , Organization and Nature of Operations. Fair Value of Financial Instrument s—The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable and short and long‑term debt. The fair values of cash and cash equivalents, accounts receivable, accounts payable and debt approximate book value because of the short maturity of these financial instruments. The valuation hierarchy is composed of three levels. The classification within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The levels within the valuation hierarchy are described below: Level 1 — Assets and liabilities with unadjusted, quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2 — Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 — Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets or liabilities. Segment Reporting —The Company operates in one business segment which focuses on developing and commercializing pharmaceutical products that target markets with underserved patient populations. The Company’s business offerings have similar economic and other characteristics, including the nature of products, manufacturing and acquiring processes, types of customers, distribution methods and regulatory environment. The chief operating decision maker (“CODM”) reviews profit and loss information on a consolidated basis to assess performance and make overall operating decisions. The condensed consolidated financial statements reflect the financial results of the Company’s one reportable operating segment. The Company has no significant revenues or tangible assets outside of the United States. Recently Adopted Accounting Standards The FASB issued ASU 2016‑02, “ Leases (Topic 842)” in February 2016 and subsequent ASUs in 2018 and 2019 (collectively referred to as “Topic 842”) on the treatment of leases, which guidance is effective for annual reporting periods beginning after December 15, 2019 and early adoption is permitted. Under Topic 842, lessees will be required to recognize the following for all leases (with the exception of short‑term leases) at the commencement date: 1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis, and 2) a right‑of‑use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Entities are allowed to apply Topic 842 using a modified retrospective approach either (1) retrospectively to each reporting period presented in the financial statements with the cumulative effect adjustment recognized at the beginning of the earliest comparative period; or (2) retrospectively at the beginning of the period of adoption through a cumulative-effective adjustment. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply. On January 1, 2019, the Company adopted Topic 842 using the modified retrospective basis with a cumulative-effect adjustment at the beginning of the period of adoption and therefore did not revise prior period information or disclosure. Further, the Company elected the package of practical expedients upon transition that allows the Company not to reassess the lease classification for expired and existing leases, whether initial direct costs qualify for capitalization for any expired or existing leases or whether any expired contracts are or contain leases. The adoption of ASU 2016-02 resulted in the recognition of operating leases and lease liabilities of approximately $6.2 million on the consolidated balance sheet as of January 1, 2019. The operating leases and lease liabilities primarily related to real estate leases. The impact of the adoption of Topic 842 on the accompanying condensed consolidated balance sheet as of January 1, 2019 was as follows (in thousands): December 31, 2018 Adoption adjustment January 1, 2019 Operating lease assets $ — $ 6,245,147 $ 6,044,528 Deferred rent liability 200,619 (200,619) — Current portion of lease liability — 1,709,138 1,709,138 Long-term portion of lease liability — 4,536,009 4,536,009 See Note 11, Leases for additional information. In February 2018, the FASB issued ASU 2018‑02, Income Statement — Reporting Comprehensive Income (Topic 220) — Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This standard allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act and requires certain disclosures about stranded tax effects. This standard is effective for the Company for annual periods beginning after December 15, 2018 and should be applied either in the period of adoption or retrospectively. The Company adopted that standard effective January 1, 2019 and concluded there was no financial statement impact related to ASU 2018-02. Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduces a new methodology for accounting for credit losses on financial instruments, including available-for-sale debt securities. The guidance establishes a new “expected loss model ” that requires entities to estimate current expected credit losses on financial instruments by using all practical and relevant information. Any expected credit losses are to be reflected as allowances rather than reductions in the amortized cost of available-for-sale debt securities. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods therein. The Company is evaluating the impact of this new accounting standard and does not expect its impact to be material. .

Revenues

Revenues	6 Months Ended
	Jun. 30, 2019
Revenues Abstract
Revenues	Note 3. Revenues The Company’s performance obligations are to provide its pharmaceutical products based upon purchase orders from distributors. The performance obligation is satisfied at a point in time, typically upon delivery, when the customer obtains control of the pharmaceutical product. The Company invoices its customers after the products have been delivered and invoice payments are generally due within 60 days of invoice date. The following table disaggregates revenue from contracts with customers by pharmaceutical products: Three Months Ended June 30, Six Months Ended June 30, Pharmaceutical Product 2019 2018 2019 2018 Venlafaxine ER $ 18,293,122 $ 19,662,452 $ 39,900,211 $ 34,484,004 Methylphenidate ER 17,100,286 39,146,241 37,889,769 67,325,502 Lorzone 4,063,375 3,972,248 8,331,893 8,211,922 Divigel 6,919,856 4,983,321 12,416,516 9,932,868 OB Complete 2,675,592 2,749,705 4,606,108 5,100,697 Other 7,163,049 1,471,675 9,470,725 5,764,855 Net product sales 56,215,280 71,985,642 112,615,222 130,819,848 Royalty revenue 779,776 (210,548) 1,500,983 752,280 License and contract revenue 537,325 83,808 542,522 87,624 Total revenues $ 57,532,381 $ 71,858,902 $ 114,658,727 $ 131,659,752 When the Company receives consideration from a customer, or such consideration is unconditionally due from a customer prior to the transfer of products to the customer under the terms of a contract, the Company records a contract liability. The Company classifies contract liabilities as deferred revenue. The Company had no deferred revenue as of June 30, 2019. Upon adoption of ASC Topic 606, the Company did not have any contract assets or liabilities. The Company has elected to apply the exemption under paragraph 606‑10‑50‑14(a) related to remaining performance obligations as all open purchase orders are expected to be satisfied with a period of one year from the date of the purchase order. Contract assets primarily relate to rights to consideration for goods or services transferred to the customer when the right is conditional on something other than the passage of time. Contract assets are transferred to accounts receivable when the rights become unconditional. The Company had no contract assets as of June 30, 2019. The Company has no costs to obtain or fulfill contracts meeting the capitalization criteria under ASC Topic 340, Other Assets and Deferred Costs.

Accounts Receivable, Sales and

Accounts Receivable, Sales and Allowances	6 Months Ended
	Jun. 30, 2019
Accounts Receivable, Sales and Allowances
Accounts Receivable, Sales and Allowances	Note 4. Accounts Receivable, Sales and Allowances The nature of the Company’s business inherently involves, in the ordinary course, significant amounts and substantial volumes of transactions and estimates relating to allowances for product returns, chargebacks, rebates, doubtful accounts and discounts given to customers. This is typical of the pharmaceutical industry and not necessarily specific to the Company. Depending on the product, the end‑user customer, the specific terms of national supply contracts and the particular arrangements with the Company’s wholesale customers, certain rebates, chargebacks and other credits are deducted from the Company’s accounts receivable. The process of claiming these deductions depends on wholesalers reporting to the Company the amount of deductions that were earned under the terms of the respective agreement with the end‑user customer (which in turn depends on the specific end‑user customer, each having its own pricing arrangement, which entitles it to a particular deduction). This process can lead to partial payments against outstanding invoices as the wholesalers take the claimed deductions at the time of payment. Accounts receivable result primarily from sales of pharmaceutical products, amounts due under revenue sharing, license and royalty arrangements, which inherently involves, in the ordinary course of business, estimates relating to allowances for product returns, chargebacks, rebates, doubtful accounts and discounts given to customers. Credit is extended based on the customer’s financial condition, and, generally, collateral is not required. The Company ages its accounts receivable using the corresponding sale date of the transaction and considers accounts past due based on terms agreed upon in the transaction, which is generally 30 to 60 days for branded and generic sales, depending on the customer and the products purchased. With the exception of the provision for doubtful accounts, which is reflected as part of selling, general and administrative expense, the provisions for the following customer reserves are reflected as a reduction of revenues in the accompanying Condensed Consolidated Statements of Operations and Comprehensive Loss. Trade accounts receivable, net consisted of the following: June 30, December 31, 2019 2018 Gross trade accounts receivable Trade accounts receivable $ 128,549,144 $ 146,419,682 Royalty accounts receivable 156,580 238,960 Other receivable 617,639 1,562,287 Less reserves for: Chargebacks (35,408,296) (38,861,232) Commercial rebates (22,204,635) (49,231,445) Discounts and allowances (3,397,311) (3,510,242) Doubtful accounts (170,708) (194,144) Total trade accounts receivable, net $ 68,142,413 $ 56,423,866 The Company recorded the following adjustments to gross product sales: Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Gross product sales $ 251,405,374 $ 245,572,890 $ 482,953,560 $ 462,651,386 Less provisions for: Chargebacks (136,802,341) (93,063,695) (238,035,802) (173,425,722) Government and managed care rebates (7,538,243) (4,757,168) (10,061,497) (10,342,866) Commercial rebates (40,204,675) (63,397,053) (104,802,934) (123,388,006) Product returns (4,151,074) (5,713,789) (5,177,413) (11,561,103) Discounts and allowances (5,092,440) (5,356,544) (9,793,665) (10,441,944) Advertising and promotions (1,401,321) (1,298,999) (2,467,027) (2,671,897) Net product sales $ 56,215,280 $ 71,985,642 $ 112,615,222 $ 130,819,848 The activity in the Company’s allowance for customer deductions against trade accounts receivable was as follows: Discounts Commercial and Doubtful Chargebacks Rebates Allowances Accounts Total Balance at December 31, 2018 $ 38,861,232 $ 49,231,445 $ 3,510,242 $ 194,144 $ 91,797,063 Provision 238,035,802 104,802,934 9,793,665 (157,175) 352,475,226 Charges processed (241,488,738) (131,829,744) (9,906,596) 133,739 (383,091,339) Balance at June 30, 2019 $ 35,408,296 $ 22,204,635 $ 3,397,311 $ 170,708 $ 61,180,950 The activity in the Company’s accrued liabilities for customer deductions by account was as follows: Government and Product Managed Care Returns Rebates Total Balance at December 31, 2018 $ 48,463,509 $ 9,980,876 $ 58,444,385 Provision 5,177,413 10,061,497 15,238,910 Charges processed (6,513,688) (12,744,283) (19,257,971) Balance at June 30, 2019 $ 47,127,234 $ 7,298,090 $ 54,425,324 Provisions and utilizations of provisions activity in the current period which relate to the prior period revenues are not provided because to do so would be impracticable. The current systems and processes of the Company do not capture the chargeback and rebate settlements by the period in which the original sales transaction was recorded. The Company uses a combination of factors and applications to estimate the dollar amount of reserves for chargebacks and rebates at each month end. Variable consideration is included in the transaction price only to the extent a significant reversal in the amount of cumulative revenue recognized is not probable of occurring when the uncertainty associated with the variable consideration is subsequently resolved. The Company regularly monitors the reserves based on an analysis of the Company’s product sales and most recent claims, wholesaler inventory, current pricing, and anticipated future pricing changes. If amounts are different from the estimate due to changes from estimated rates, accrual rate adjustments are considered prospectively when determining provisions in accordance with authoritative GAAP.

Inventories

Inventories	6 Months Ended
	Jun. 30, 2019
Inventories
Inventories	Note 5. Inventories The components of inventories, net of allowances, were as follows: June 30, December 31, 2019 2018 Finished goods $ 15,523,131 $ 15,577,104 Work in process 1,358,960 1,138,906 Raw materials and supplies 10,993,177 7,667,011 $ 27,875,268 $ 24,383,021 The Company maintains an allowance for excess and obsolete inventory, as well as inventory where its cost is in excess of its net realizable value. The activity in the allowance for excess, obsolete, and net realizable value inventory account was as follows: June 30, December 31, 2019 2018 Balance at beginning of period $ 1,561,082 $ 3,066,620 Provision 2,154,408 2,926,472 Charges processed (1,430,030) (4,432,010) Balance at end of period $ 2,285,460 $ 1,561,082

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	6 Months Ended
	Jun. 30, 2019
Goodwill and Other Intangible Assets
Goodwill and Other Intangible Assets	Note 6. Goodwill and Other Intangible Assets The Company tests goodwill and indefinite‑lived intangible assets for impairment annually as of October 1 st , or more frequently whenever events or changes in circumstances indicate that the asset might be impaired. During the second quarter of 2019 circumstances and events related to the pricing of certain of our generic products prompted the Company to evaluate certain of our intangible assets for impairment. Following such evaluation, the Company determined that the net present value of certain intangible assets had decreased below their carrying value and thus impaired the intangible assets. Product Rights, Developed Technologies and Distribution Rights have therefore been impaired by $ 17,920,049 , $57,165,587 and $ 50,679,974 , respectively due to lower than expected cash flows, and the decision to discontinue selling one product. The price erosion as described above as well as the impairment recognized on the intangible assets prompted the Company to additionally evaluate goodwill for impairment. Based on this evaluation, the Company determined that the fair value of goodwill exceeded its carrying value and as a result, no impairment of goodwill was recognized. The carrying value of goodwill was $100,854,816 as of June 30, 2019 and December 31, 2018, net of impairment charges of $86,318,000 recognized in 2018. The following table sets forth the major categories of the Company’s intangible assets and the weighted‑average remaining amortization period for those assets that were not already fully amortized: June 30, 2019 Weighted Average Remaining Gross Net Amortization Carrying Accumulated Carrying Period Amount Amortization Impairment Amount (Years) Distribution Rights $ 98,433,377 $ (20,863,650) $ (50,679,974) $ 26,889,753 11.0 Product Rights 348,599,941 (136,957,469) (17,920,049) 193,722,423 3.6 Tradenames 13,485,000 (2,682,241) — 10,802,759 15.5 Developed Technology 125,460,333 (32,821,837) (57,165,587) 35,472,909 11.7 IPR&D 64,000,000 — — 64,000,000 Indefinite Lived $ 649,978,651 $ (193,325,197) $ (125,765,610) $ 330,887,844 December 31, 2018 Weighted Average Gross Net Remaining Carrying Accumulated Carrying Amortization Amount Amortization Impairment Amount Period (Years) Distribution Rights $ 98,433,377 $ (17,229,374) $ — $ 81,204,003 12.0 Product Rights 326,530,149 (109,056,754) — 217,473,395 4.0 Tradenames 13,485,000 (2,329,284) — 11,155,716 16.0 Developed Technology 138,133,333 (30,973,516) (10,303,208) 96,856,609 12.6 IPR&D 91,300,000 — (7,600,000) 83,700,000 Indefinite Lived $ 667,881,859 $ (159,588,928) $ (17,903,208) $ 490,389,723 The gross carrying amount in the tables above are inclusive of $28,299,941 and $17,886,772 in 2019 and 2018, respectively and $10,379,892 and $6,156,564 of accumulated amortization for assets that have been fully impaired in 2019 and 2018, respectively. Changes in the net carrying amount of intangible assets were as follows: Distribution Product Developed Rights Rights Tradenames Technology IPR&D Total December 31, 2018 $ 81,204,003 $ 217,473,395 $ 11,155,716 $ 96,856,609 $ 83,700,000 $ 490,389,723 Amortization (3,634,276) (25,530,923) (352,957) (4,218,113) — (33,736,269) Impairments (50,679,974) (17,920,049) — (57,165,587) — (125,765,610) Reclassifications (A) — 19,700,000 — — (19,700,000) — June 30, 2019 $ 26,889,753 $ 193,722,423 $ 10,802,759 $ 35,472,909 $ 64,000,000 $ 330,887,844 (A) IPR&D in the amount of $19.7 million related to Osmolex ER was reclassified to Product Rights in the first quarter of 2019 when the product was launched. Osmolex ER was fully impaired during the second quarter of 2019. As part of the Company’s goodwill and intangible asset impairment assessments, the Company estimates the fair values of the reporting unit and intangible assets using an income approach that utilizes a discounted cash flow model, or, where appropriate, a market approach. The discounted cash flow models are dependent upon the Company’s estimates of future cash flows and other factors. These estimates of future cash flows involve assumptions concerning (i) future operating performance, including future sales, long‑term growth rates, operating margins, variations in the amounts, allocation and timing of cash flows and the probability of achieving the estimated cash flows and (ii) future economic conditions. These assumptions are based on significant inputs not observable in the market and thus represent Level 3 measurements within the fair value hierarchy. The discount rates applied to estimated cash flows for the Company’s interim indefinite-lived asset impairment test for the three months ended June 30, 2019 was 17%. The Company believes the discount rates and other inputs and assumptions are consistent with those that a market participant would use. Any impairment charges resulting from annual or interim goodwill and intangible asset impairment assessments are recorded to Impairment of intangible assets in the Condensed Consolidated Statements of Operations and Comprehensive Loss. Amortization expense of $16,868,134 and $19,302,132 for the three months ended June 30, 2019 and 2018, respectively, and $33,736,269 and $38,674,805 for the six months ended June 30, 2019 and 2018, respectively was recorded as cost of goods sold. The amortization expense of acquired intangible assets for each of the following periods are expected to be as follows: Amortization Years ending December 31 Expense Remainder of 2019 $ 26,901,570 2020 50,339,141 2021 44,894,160 2022 38,005,544 2023 35,834,234 Thereafter 70,913,195 Total $ 266,887,844

Accrued Liabilities

Accrued Liabilities	6 Months Ended
	Jun. 30, 2019
Accrued Liabilities Abstract
Accrued Liabilities	Note 7. Accrued Liabilities Accrued liabilities consist of the following: June 30, December 31, 2019 2018 Accrued product returns $ 47,127,234 $ 48,463,509 Accrued royalties 2,450,149 3,597,957 Accrued compensation 6,551,636 8,672,913 Accrued government and managed care rebates 7,298,090 9,980,876 Accrued research and development 3,649,115 8,337,812 Accrued expenses and other liabilities 7,625,466 7,362,941 Customer coupons 823,218 719,578 Deferred revenue — 101,354 Total $ 75,524,908 $ 87,236,940 In the ordinary course of business, the Company enters into contractual agreements with wholesalers pursuant to which the wholesalers distribute sales of Company products to customers and provide sales data to the Company. In return the wholesalers charge the Company a fee for services and other customary rebates and chargebacks based on distribution sales of Company products through the wholesalers and downstream customers.

Financing Arrangements

Financing Arrangements	6 Months Ended
	Jun. 30, 2019
Financing Arrangements
Financing Arrangements	Note 8. Financing Arrangements The composition of the Company’s debt and financing obligations is as follows: June 30, December 31, 2019 2018 CIT Bank, N.A. Term Loan, net of deferred financing costs of $3,994,309 and $4,557,025 as of June 30, 2019 and December 31, 2018, respectively $ 267,365,629 $ 266,802,911 Note payable — insurance financing 991,459 1,774,199 Total debt and financing obligations 268,357,088 268,577,110 Less: current portion (991,459) (1,774,199) Long-term debt $ 267,365,629 $ 266,802,911 Term Loan As of June 30, 2019, the interest rate was 6.15% for the Company’s Term A Loan and 6.65% for the Term B Loan. As of December 31, 2018, the interest rate was 6.09% for the Term A Loan and 6.59% for the Term B Loan. The Company was in compliance with all covenants of the Term Loan Agreement as of June 30, 2019. Revolving Facility As of June 30, 2019 there were no amounts drawn under the $50 million Revolving Facility with CIT Bank, N.A.

Concentrations and Credit Risk

Concentrations and Credit Risk	6 Months Ended
	Jun. 30, 2019
Concentrations and Credit Risk
Concentrations and Credit Risk	Note 9. Concentrations and Credit Risk In the three and six months ended June 30, 2019 and 2018, a significant portion of the Company’s gross product sales reported were through three customers, and a significant portion of the Company’s accounts receivable as of June 30, 2019 and December 31, 2018 were due from these customers as well. The following table sets forth the percentage of the Company’s gross sales and accounts receivable attributable to these customers for the periods indicated: Gross Product Gross Product Sales Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Amerisource Bergen 7 % 7 % 7 % 7 % Cardinal Health 59 % 55 % 57 % 55 % McKesson 31 % 34 % 33 % 34 % Combined Total 97 % 96 % 97 % 96 % Gross Account Receivables June 30, December 31, 2019 2018 Amerisource Bergen 6 % 6 % Cardinal Health 68 % 61 % McKesson 23 % 29 % Combined Total 97 % 96 % Purchasing For the three and six months ended June 30, 2019, one supplier accounted for more than 96% and 83%, respectively, of the Company’s purchases of raw materials for products that are manufactured by the Company. For the three and six months ended June 30, 2018, one supplier accounted for approximately 97% and 89%, respectively, of the Company’s purchases of raw materials for products that are manufactured by the Company. The Company purchases various Active Pharmaceutical Ingredient, or API of finished products at contractual minimum levels through agreements with third parties. Individually, none of these agreements are material to the Company, therefore, the Company does not believe at this time that any of the purchase obligations represent levels above the normal course of business.

Incentive Plans

Incentive Plans	6 Months Ended
	Jun. 30, 2019
Incentive Plans
Incentive Plans	Note 10. Incentive Plans The Company recognized share-based compensation expense of $1,327,045 and $0 during the three months ended June 30, 2019 and 2018, respectively, and $2,495,908 and $0 during the six months ended June 30, 2019 and 2018, respectively. As of June 30, 2019, the total remaining unrecognized compensation cost related to non-vested share-based compensation awards amounted to $12,952,690. During the three and six months ended on June 30, 2019, the Company granted 69,185 and 1,443,520, respectively, of restricted stock units. As of June 30, 2019 there were 1,438,016 restricted stock units outstanding and the weighted-average remaining requisite service period of the non-vested stock options was 1.7 years and for non-vested restricted stock units was 3.69 years.

Leases

Leases	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Leases	Note 11. Leases The Company leases its New Jersey office and warehouse facilities under non‑cancelable leases that expire in July 2022 and December 2023, respectively. On September 6, 2018, the Company entered into a sublease agreement that expires November 2023 to lease additional office space in its New Jersey location. The Company leases office and warehouse facilities in Tampa, Florida, under a non‑cancelable lease that expires in October 2023. The Company leases its Argentina office and warehouse facilities under a lease that originally expired in December 31, 2014, but was amended to extend to December 31, 2020. The Company leases its Hungary office and warehouse facilities under a lease that expires on February 14, 2022. The Company also leases its North Carolina office, which lease has been renewed through July 31, 2020. Some of these leases contain options to renew, but for the majority of leases we have concluded that it was not reasonably certain that we would exercise the options to extend the lease or terminate the lease. In 2018, the Company began leasing vehicles under a cancelable fleet lease that has successive one-year renewal terms. We evaluate the term of these leases and recognize the leases over the period which we believe is reasonably certain to exercise . We assess whether an arrangement is a lease or contains a lease at inception. For arrangements considered leases or that contain a lease that is accounted for separately, we determine the classification and initial measurement of the right-of-use asset and lease liability at the lease commencement date, which is the date that the underlying asset becomes available for use. The Company has elected to account for non-lease components associated with our leases and lease components as a single lease component. The Company recognizes a right-of use asset, which represents the Company’s right to use the underlying asset for the lease term, and a lease liability, which represents the present value of the Company’s obligation to make payments arising over the lease term. The present value of the lease payments are calculated using either the implicit interest rate in the lease or an incremental borrowing rate. Our lease assets and liabilities were classified as follows on our Condensed Consolidated Balance Sheet at June 30, 2019: Leases Classification Balance at Assets Operating Operating Lease Assets $ 6,375,357 Finance Property, plant and equipment, net 248,453 Total leased assets $ 6,623,810 Liabilities Current Operating Current portion of lease liability $ 2,206,038 Finance Current portion of obligations under finance leases 130,505 Non-current Operating Long-term portion of lease liability 4,382,686 Finance Long-term portion of obligations under finance leases 101,363 Total lease liabilities $ 6,820,592 The Company recognizes lease expense on a straight-line basis over the lease term. The components of lease cost are as follows: Lease Cost Classification Three months ended Six months ended Operating lease cost SG&A expenses $ 512,727 $ 978,281 R&D expenses 38,575 81,002 Cost of goods sold 91,899 183,106 Finance lease cost Amortization of leased assets Depreciation and amortization 32,479 64,056 Interest on lease liabilities Interest expense 1,091 2,237 Total lease cost $ 676,771 $ 1,308,682 Total rent expense charged to selling, general and administrative expenses was $512,727 and $170,821 for the three months ended June 30, 2019 and 2018, respectively and $978,281 and $328,134 for the six months ended June 30, 2019 and 2018, respectively. Total rent expense charged to research and development was $38,575 and $60,748 for the three months ended June 30, 2019 and 2018, respectively and $81,002 and $146,568 for the six months ended June 30, 2019 and 2018, respectively. The rent expense charged to cost of goods sold was $91,899 and $89,849 for the three months ended June 30, 2019 and 2018, respectively, and $183,106 and $182,816 for the six months ended June 30, 2019 and 2018, respectively. The table below shows the future minimum rental payments, exclusive of taxes, insurance and other costs, under the leases as follows: Years ending December 31 Operating Leases Remainder of 2019 $ 1,238,074 2020 2,485,755 2021 2,049,045 2022 907,013 2023 490,515 Total lease payments 7,170,402 Less: interest 581,678 Present value of lease payments $ 6,588,724 The Company has future minimum lease payments required under the finance leases of $236,084 less interest expense of $4,216 for total present value lease payments of $231,868 for the remainder of the year ended December 31, 2019 through December 31, 2022. The weighted-average remaining lease term and the weighted-average discount rate of our leases were as follows: Lease Term and Discount Rate June 30, 2019 Weighted average remaining lease term (years) Operating leases Finance leases Weighted average discount rate Operating leases % Finance leases % Other Information June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (1,242,389) Operating cash flows from finance leases (2,237) Financing cash flows from finance leases (63,843) Amortization of assets held under the finance lease is included in depreciation expense as a component of selling, general and administrative expenses. For the three and six months ended June 30, 2019, the Company recorded $553,860 and $1,369,479, respectively, of leases assets obtained in exchange for new operating lease liabilities and $20,134 and $38,418, respectively, of leased assets obtained in exchange for new finance lease liabilities.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies
Commitments and Contingencies	Note 12. Commitments and Contingencies Contingent Milestone Payments The Company has entered into strategic business agreements for the development and marketing of finished dosage form pharmaceutical products with various pharmaceutical development companies. Each strategic business agreement includes a future payment schedule for contingent milestone payments and in certain strategic business agreements, minimum royalty payments. The Company will be responsible for contingent milestone payments and minimum royalty payments to these strategic business partners based upon the occurrence of future events. Each strategic business agreement defines the triggering event of its future payment schedule, such as meeting product development progress timelines, successful product testing and validation, successful clinical studies, and various U.S. Food and Drug Administration and other regulatory approvals. The following table lists the Company’s enforceable and legally binding royalty obligations as of June 30, 2019: Royalty Obligations Less than 1 year $ 1,281,250 1 to 3 years 3,093,750 3 to 5 years 2,000,000 More than 5 years 1,583,333 Total $ 7,958,333 The Company is engaged in various supply agreements with third parties which obligate the Company to purchase various API or finished products at contractual minimum levels. None of these agreements are individually or in the aggregate material to the Company. Further, the Company does not believe at this time that any of the purchase obligations represent levels above that of normal business demands. Legal Proceedings The Company is a party in legal proceedings and potential claims arising from time to time in the ordinary course of its business. The amount, if any, of ultimate liability with respect to such matters cannot be determined. Despite the inherent uncertainties of litigation, management of the Company believes that the ultimate disposition of such proceedings and exposures will not have a material adverse impact on the financial condition, results of operations, or cash flows of the Company. On February 16, 2018, the Company received FDA approval for its amantadine extended release tablets under the trade name OSMOLEX ER. On that same date the Company filed in the Federal District Court for the District of Delaware a Complaint for Declaratory Judgment of Noninfringement of certain patents owned by Adamas Pharmaceuticals, Inc. (Osmotica Pharmaceutical US LLC and Vertical Pharmaceuticals, LLC vs. Adamas Pharmaceuticals, Inc. and Adamas Pharma, LLC). Adamas was served with the Complaint on February 21, 2018. Adamas filed an answer on April 13, 2018 denying the allegations in the Complaint and reserving the ability to raise counterclaims as the litigation progresses. On September 20, 2018, Adamas filed an amended answer to the Company’s Complaint for Declaratory Judgment of Noninfringement, with counterclaims alleging infringement of certain patents included in the Company’s Complaint and requesting that the court grant Adamas damages, injunctive relief and attorneys’ fees. The action is ongoing, but was stayed on May 23, 2019 at the parties’ joint request. On April 30, 2019, Osmotica Pharmaceuticals plc was served with a complaint in an action entitled Leo Shumacher, et al., v. Osmotica Pharmaceuticals plc, et al ., Superior Court of New Jersey, Somerset County No. SOM-L-000540-19. On May 10, 2019, a Complaint entitled Jeffrey Tello, et al., v. Osmotica Pharmaceuticals plc, et al., Superior Court of New Jersey, Somerset County No. SOM-L-000617-19 was filed in the same court as the Shumacher action. The complaints name Osmotica Pharmaceuticals plc, certain of its directors and officers and the underwriters of its initial public offering as defendants in putative class actions alleging violations of Sections 11 and 15 of the Securities Act of 1933 related to the disclosures contained in the registration statement and prospectus used for the Company’s initial public offering of ordinary shares. On July 22, 2019, Plaintiffs filed an Amended Complaint consolidating the two actions, reiterating the previously pled allegations and adding an additional individual defendant. The Company disputes the allegations in the complaint and intends to vigorously defend against the action. However, this litigation matter is still in an early stage and there is no assurance that we will be successful in our defense or that insurance will be available or adequate to fund any settlement or judgment or the litigation costs of the action, which could adversely affect the Company’s results of operations and financial condition. At this time there is no loss that is probable or reasonably estimatable.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2019
Income Taxes
Income Taxes	Note 13. Income Taxes During the six months ended June 30, 2019, the Company recognized an income tax benefit of $12.9 million on $143.8 million of loss before income tax, compared to $0.6 million of income tax expense on $1.9 million of income before income tax during the comparable 2018 period. The tax benefit resulted from an impairment charge on certain assets which required the Company to record a valuation allowance against its deferred tax assets. Income taxes for the interim periods have been based on an estimated annual worldwide effective tax rate. During the six month period ended June 30, 2019, the annualized worldwide effective tax rate was 10% as compared to 15% in the six month period ended June 30, 2018. Income tax (expense) benefit differs from the statutory income tax rate primarily due to the occurrence of orphan drug and research development credits, recording of a valuation allowance and the addition of state and foreign taxes. The Company provides reserves for potential payments of income tax to various tax authorities or does not recognize income tax benefits related to uncertain tax positions and other issues. Tax benefits for uncertain tax positions are based on a determination of whether a tax benefit taken by the Company in its tax filings or positions is more likely than not to be realized, assuming that the matter in question will be decided based on its technical merits. The Company’s policy is to record interest and penalties in the provision for income taxes. The Company recently received notification that the Internal Revenue Service will be conducting an audit of Osmotica Pharmaceuticals Corp., for tax year 2017. Valuation Allowance Net deferred tax assets arise due to the recognition of income and expense items for tax purposes, which differ from those used for financial statement purposes. ASC 740, Income Taxes, provides for the recognition of deferred tax assets if the realization of such assets is more likely than not. In assessing the need for a valuation allowance in the second quarter of year ending 2019, the Company considered all available objective and verifiable evidence both positive and negative, including historical levels of pre-tax income (loss) both on a consolidated basis and tax reporting entity basis, legislative developments, expectations and risks associated with estimates of future pre-tax income, and prudent and feasible tax planning strategies. The Company assesses the realizability of the deferred tax assets at each balance sheet date based on actuals and forecasted operating results in order to determine the proper amount, if any, of a valuation allowance. As a result of this analysis, the Company determined that it is more likely than not that it will not realize the benefits of its net deferred tax assets and therefore has recorded a valuation allowance to reduce the carrying value of its net deferred tax assets. The Company continues to maintain valuation allowances on deferred tax assets applicable to entities in foreign jurisdictions for which separate income tax returns are filed, where realization of the related deferred tax assets from future profitable operations is not reasonably assured.

Related Parties

Related Parties	6 Months Ended
	Jun. 30, 2019
Related Parties
Related Parties	Note 14. Related Parties Prior to our IPO the Company paid quarterly advisory and monitoring fees to certain shareholders. The Company had accrued $51,782 and $83,818 as liabilities, as of June 30, 2019 and December 31, 2018, respectively, and had recognized an immaterial amount and $250,000 of related expense for the three months ended June 30, 2019 and 2018, respectively and an immaterial amount and $520,147 of related expense for the six months ended June 30, 2019 and 2018, respectively. Further, the Company leases its Argentina office and warehouse space facilities through a related party lease. The term of the operating lease is through December 31, 2020. For the three months ended June 30, 2019 and 2018, the Company incurred rent expense under this lease of $44,086 and $69,426, respectively. For the six months ended June 30, 2019 and 2018, the Company incurred rent expense under this lease of $92,574 and $151,371, respectively. On August 22, 2018, the Company entered into a Master Service Agreement with United Biosource, LLC or (“UBC”), an Avista Capital Partners portfolio company, for prescription processing and patient access services. In November 2018, the Company and UBC entered into a Statement of Work for services valued at approximately $2.4 million. The Company entered into a change order effective April 5, 2019 and increased the budget by an incremental $211,038.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2019
Basis of Presentation and Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation —The accompanying unaudited condensed consolidated financial statements included herein have been prepared by the Company in accordance with accounting principles generally accepted in the United States of America (“GAAP”) and under the rules and regulations of the United States Securities and Exchange Commission (“SEC”) for interim reporting. In management’s opinion, the interim financial data presented includes all adjustments (consisting solely of normal recurring items) necessary for fair presentation. All intercompany accounts and transactions have been eliminated. Certain information required by GAAP has been condensed or omitted in accordance with rules and regulations of the SEC. Operating results for the three and six months ended June 30, 2019, are not necessarily indicative of the results that may be expected for any future period or for the year ending December 31, 2019 or any period thereafter. The accompanying Condensed Consolidated Balance Sheet data as of December 31, 2018 was derived from the audited consolidated financial statements. These unaudited condensed consolidated financial statements should be read in conjunction with the Company’s audited consolidated financial statements and the notes thereto for the year ended December 31, 2018. Except for the lease accounting policy that was updated as a result of adopting Accounting Standards Update (“ASU”) No. 2016‑02, ( Leases Accounting Standards Codification (“ASC”) Topic 842), the Company’s significant accounting policies have not changed substantially from those previously described in the notes to the consolidated financial statements for the year ended December 31, 2018 that are included in the Company’s most recent Annual Report on Form 10-K.
Basic and Diluted Loss per Share	Basic and Diluted Loss per Share —Basic and diluted net loss per share is determined by dividing net loss by the weighted average ordinary shares outstanding during the period. For all periods presented with a net loss, the shares underlying the ordinary share options have been excluded from the calculation because their effect would be anti‑dilutive. Therefore, the weighted-average shares outstanding used to calculate both basic and diluted loss per share are the same for periods with a net loss.
Fair Value of Financial Instruments	Fair Value of Financial Instrument s—The Company’s financial instruments include cash and cash equivalents, accounts receivable, accounts payable and short and long‑term debt. The fair values of cash and cash equivalents, accounts receivable, accounts payable and debt approximate book value because of the short maturity of these financial instruments. The valuation hierarchy is composed of three levels. The classification within the valuation hierarchy is based on the lowest level of input that is significant to the fair value measurement. The levels within the valuation hierarchy are described below: Level 1 — Assets and liabilities with unadjusted, quoted prices listed on active market exchanges. Inputs to the fair value measurement are observable inputs, such as quoted prices in active markets for identical assets or liabilities. Level 2 — Inputs to the fair value measurement are determined using prices for recently traded assets and liabilities with similar underlying terms, as well as direct or indirect observable inputs, such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 — Inputs to the fair value measurement are unobservable inputs, such as estimates, assumptions, and valuation techniques when little or no market data exists for the assets or liabilities.
Segment Reporting	Segment Reporting —The Company operates in one business segment which focuses on developing and commercializing pharmaceutical products that target markets with underserved patient populations. The Company’s business offerings have similar economic and other characteristics, including the nature of products, manufacturing and acquiring processes, types of customers, distribution methods and regulatory environment. The chief operating decision maker (“CODM”) reviews profit and loss information on a consolidated basis to assess performance and make overall operating decisions. The condensed consolidated financial statements reflect the financial results of the Company’s one reportable operating segment. The Company has no significant revenues or tangible assets outside of the United States.
Recently Adopted and Recent Accounting Standards	Recently Adopted Accounting Standards The FASB issued ASU 2016‑02, “ Leases (Topic 842)” in February 2016 and subsequent ASUs in 2018 and 2019 (collectively referred to as “Topic 842”) on the treatment of leases, which guidance is effective for annual reporting periods beginning after December 15, 2019 and early adoption is permitted. Under Topic 842, lessees will be required to recognize the following for all leases (with the exception of short‑term leases) at the commencement date: 1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis, and 2) a right‑of‑use asset, which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. Entities are allowed to apply Topic 842 using a modified retrospective approach either (1) retrospectively to each reporting period presented in the financial statements with the cumulative effect adjustment recognized at the beginning of the earliest comparative period; or (2) retrospectively at the beginning of the period of adoption through a cumulative-effective adjustment. The modified retrospective approach includes a number of optional practical expedients that entities may elect to apply. On January 1, 2019, the Company adopted Topic 842 using the modified retrospective basis with a cumulative-effect adjustment at the beginning of the period of adoption and therefore did not revise prior period information or disclosure. Further, the Company elected the package of practical expedients upon transition that allows the Company not to reassess the lease classification for expired and existing leases, whether initial direct costs qualify for capitalization for any expired or existing leases or whether any expired contracts are or contain leases. The adoption of ASU 2016-02 resulted in the recognition of operating leases and lease liabilities of approximately $6.2 million on the consolidated balance sheet as of January 1, 2019. The operating leases and lease liabilities primarily related to real estate leases. The impact of the adoption of Topic 842 on the accompanying condensed consolidated balance sheet as of January 1, 2019 was as follows (in thousands): December 31, 2018 Adoption adjustment January 1, 2019 Operating lease assets $ — $ 6,245,147 $ 6,044,528 Deferred rent liability 200,619 (200,619) — Current portion of lease liability — 1,709,138 1,709,138 Long-term portion of lease liability — 4,536,009 4,536,009 See Note 11, Leases for additional information. In February 2018, the FASB issued ASU 2018‑02, Income Statement — Reporting Comprehensive Income (Topic 220) — Reclassification of Certain Tax Effects from Accumulated Other Comprehensive Income. This standard allows a reclassification from accumulated other comprehensive income to retained earnings for stranded tax effects resulting from the Tax Cuts and Jobs Act and requires certain disclosures about stranded tax effects. This standard is effective for the Company for annual periods beginning after December 15, 2018 and should be applied either in the period of adoption or retrospectively. The Company adopted that standard effective January 1, 2019 and concluded there was no financial statement impact related to ASU 2018-02. Recent Accounting Pronouncements In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, which introduces a new methodology for accounting for credit losses on financial instruments, including available-for-sale debt securities. The guidance establishes a new “expected loss model ” that requires entities to estimate current expected credit losses on financial instruments by using all practical and relevant information. Any expected credit losses are to be reflected as allowances rather than reductions in the amortized cost of available-for-sale debt securities. Early adoption is permitted for annual periods beginning after December 15, 2018, and interim periods therein. The Company is evaluating the impact of this new accounting standard and does not expect its impact to be material.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2019
Basis of Presentation and Summary of Significant Accounting Policies
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Restricted stock units 1,438,016 — 1,438,016 — Options to purchase ordinary shares 3,169,222 3,028,788 (a) 3,169,222 3,015,936 (a) (a) Represents 70,700 units for the three months ended June 30, 2018 and 70,400 units for the six months ended June 30, 2018 multiplied by approximately 42.84 (rounded down to the nearest whole share), which was the ratio at which common units of Osmotica Holdings S.C.Sp. were converted to ordinary shares of Osmotica Pharmaceuticals plc immediately prior to the Company’s initial public offering. See Note , Organization and Nature of Operations.
Schedule of impact of adoption of Topic 842	December 31, 2018 Adoption adjustment January 1, 2019 Operating lease assets $ — $ 6,245,147 $ 6,044,528 Deferred rent liability 200,619 (200,619) — Current portion of lease liability — 1,709,138 1,709,138 Long-term portion of lease liability — 4,536,009 4,536,009

Revenues (Tables)

Revenues (Tables)	6 Months Ended
	Jun. 30, 2019
Revenues Abstract
Schedule of disaggregation of revenue from contracts with customers	Three Months Ended June 30, Six Months Ended June 30, Pharmaceutical Product 2019 2018 2019 2018 Venlafaxine ER $ 18,293,122 $ 19,662,452 $ 39,900,211 $ 34,484,004 Methylphenidate ER 17,100,286 39,146,241 37,889,769 67,325,502 Lorzone 4,063,375 3,972,248 8,331,893 8,211,922 Divigel 6,919,856 4,983,321 12,416,516 9,932,868 OB Complete 2,675,592 2,749,705 4,606,108 5,100,697 Other 7,163,049 1,471,675 9,470,725 5,764,855 Net product sales 56,215,280 71,985,642 112,615,222 130,819,848 Royalty revenue 779,776 (210,548) 1,500,983 752,280 License and contract revenue 537,325 83,808 542,522 87,624 Total revenues $ 57,532,381 $ 71,858,902 $ 114,658,727 $ 131,659,752

Accounts Receivable, Sales an_2

Accounts Receivable, Sales and Allowances (Tables)	6 Months Ended
	Jun. 30, 2019
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of components of accounts receivable	June 30, December 31, 2019 2018 Gross trade accounts receivable Trade accounts receivable $ 128,549,144 $ 146,419,682 Royalty accounts receivable 156,580 238,960 Other receivable 617,639 1,562,287 Less reserves for: Chargebacks (35,408,296) (38,861,232) Commercial rebates (22,204,635) (49,231,445) Discounts and allowances (3,397,311) (3,510,242) Doubtful accounts (170,708) (194,144) Total trade accounts receivable, net $ 68,142,413 $ 56,423,866
Schedule of adjustments to gross product sales	Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Gross product sales $ 251,405,374 $ 245,572,890 $ 482,953,560 $ 462,651,386 Less provisions for: Chargebacks (136,802,341) (93,063,695) (238,035,802) (173,425,722) Government and managed care rebates (7,538,243) (4,757,168) (10,061,497) (10,342,866) Commercial rebates (40,204,675) (63,397,053) (104,802,934) (123,388,006) Product returns (4,151,074) (5,713,789) (5,177,413) (11,561,103) Discounts and allowances (5,092,440) (5,356,544) (9,793,665) (10,441,944) Advertising and promotions (1,401,321) (1,298,999) (2,467,027) (2,671,897) Net product sales $ 56,215,280 $ 71,985,642 $ 112,615,222 $ 130,819,848
Trade accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of activity in allowance/liability for customer deductions	Discounts Commercial and Doubtful Chargebacks Rebates Allowances Accounts Total Balance at December 31, 2018 $ 38,861,232 $ 49,231,445 $ 3,510,242 $ 194,144 $ 91,797,063 Provision 238,035,802 104,802,934 9,793,665 (157,175) 352,475,226 Charges processed (241,488,738) (131,829,744) (9,906,596) 133,739 (383,091,339) Balance at June 30, 2019 $ 35,408,296 $ 22,204,635 $ 3,397,311 $ 170,708 $ 61,180,950
Accrued liabilities
Accounts, Notes, Loans and Financing Receivable [Line Items]
Schedule of activity in allowance/liability for customer deductions	Government and Product Managed Care Returns Rebates Total Balance at December 31, 2018 $ 48,463,509 $ 9,980,876 $ 58,444,385 Provision 5,177,413 10,061,497 15,238,910 Charges processed (6,513,688) (12,744,283) (19,257,971) Balance at June 30, 2019 $ 47,127,234 $ 7,298,090 $ 54,425,324

Inventories (Tables)

Inventories (Tables)	6 Months Ended
	Jun. 30, 2019
Inventory [Line Items]
Summary of components of inventories, net of allowances	June 30, December 31, 2019 2018 Finished goods $ 15,523,131 $ 15,577,104 Work in process 1,358,960 1,138,906 Raw materials and supplies 10,993,177 7,667,011 $ 27,875,268 $ 24,383,021
Allowance for excess and obsolete inventory
Inventory [Line Items]
Schedule of activity in allowance for inventory valuation and obsolescence	June 30, December 31, 2019 2018 Balance at beginning of period $ 1,561,082 $ 3,066,620 Provision 2,154,408 2,926,472 Charges processed (1,430,030) (4,432,010) Balance at end of period $ 2,285,460 $ 1,561,082

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2019
Goodwill and Other Intangible Assets
Schedule of Indefinite-Lived Intangible Assets [Table Text Block]	June 30, 2019 Weighted Average Remaining Gross Net Amortization Carrying Accumulated Carrying Period Amount Amortization Impairment Amount (Years) Distribution Rights $ 98,433,377 $ (20,863,650) $ (50,679,974) $ 26,889,753 11.0 Product Rights 348,599,941 (136,957,469) (17,920,049) 193,722,423 3.6 Tradenames 13,485,000 (2,682,241) — 10,802,759 15.5 Developed Technology 125,460,333 (32,821,837) (57,165,587) 35,472,909 11.7 IPR&D 64,000,000 — — 64,000,000 Indefinite Lived $ 649,978,651 $ (193,325,197) $ (125,765,610) $ 330,887,844 December 31, 2018 Weighted Average Gross Net Remaining Carrying Accumulated Carrying Amortization Amount Amortization Impairment Amount Period (Years) Distribution Rights $ 98,433,377 $ (17,229,374) $ — $ 81,204,003 12.0 Product Rights 326,530,149 (109,056,754) — 217,473,395 4.0 Tradenames 13,485,000 (2,329,284) — 11,155,716 16.0 Developed Technology 138,133,333 (30,973,516) (10,303,208) 96,856,609 12.6 IPR&D 91,300,000 — (7,600,000) 83,700,000 Indefinite Lived $ 667,881,859 $ (159,588,928) $ (17,903,208) $ 490,389,723
Schedule of Finite-Lived Intangible Assets [Table Text Block]	June 30, 2019 Weighted Average Remaining Gross Net Amortization Carrying Accumulated Carrying Period Amount Amortization Impairment Amount (Years) Distribution Rights $ 98,433,377 $ (20,863,650) $ (50,679,974) $ 26,889,753 11.0 Product Rights 348,599,941 (136,957,469) (17,920,049) 193,722,423 3.6 Tradenames 13,485,000 (2,682,241) — 10,802,759 15.5 Developed Technology 125,460,333 (32,821,837) (57,165,587) 35,472,909 11.7 IPR&D 64,000,000 — — 64,000,000 Indefinite Lived $ 649,978,651 $ (193,325,197) $ (125,765,610) $ 330,887,844 December 31, 2018 Weighted Average Gross Net Remaining Carrying Accumulated Carrying Amortization Amount Amortization Impairment Amount Period (Years) Distribution Rights $ 98,433,377 $ (17,229,374) $ — $ 81,204,003 12.0 Product Rights 326,530,149 (109,056,754) — 217,473,395 4.0 Tradenames 13,485,000 (2,329,284) — 11,155,716 16.0 Developed Technology 138,133,333 (30,973,516) (10,303,208) 96,856,609 12.6 IPR&D 91,300,000 — (7,600,000) 83,700,000 Indefinite Lived $ 667,881,859 $ (159,588,928) $ (17,903,208) $ 490,389,723
Schedule of changes in the net carrying amount of intangible assets	Distribution Product Developed Rights Rights Tradenames Technology IPR&D Total December 31, 2018 $ 81,204,003 $ 217,473,395 $ 11,155,716 $ 96,856,609 $ 83,700,000 $ 490,389,723 Amortization (3,634,276) (25,530,923) (352,957) (4,218,113) — (33,736,269) Impairments (50,679,974) (17,920,049) — (57,165,587) — (125,765,610) Reclassifications (A) — 19,700,000 — — (19,700,000) — June 30, 2019 $ 26,889,753 $ 193,722,423 $ 10,802,759 $ 35,472,909 $ 64,000,000 $ 330,887,844
Schedule of expected amortization expense	Amortization Years ending December 31 Expense Remainder of 2019 $ 26,901,570 2020 50,339,141 2021 44,894,160 2022 38,005,544 2023 35,834,234 Thereafter 70,913,195 Total $ 266,887,844

Accrued Liabilities (Tables)

Accrued Liabilities (Tables)	6 Months Ended
	Jun. 30, 2019
Accrued Liabilities Abstract
Schedule of accrued liabilities	June 30, December 31, 2019 2018 Accrued product returns $ 47,127,234 $ 48,463,509 Accrued royalties 2,450,149 3,597,957 Accrued compensation 6,551,636 8,672,913 Accrued government and managed care rebates 7,298,090 9,980,876 Accrued research and development 3,649,115 8,337,812 Accrued expenses and other liabilities 7,625,466 7,362,941 Customer coupons 823,218 719,578 Deferred revenue — 101,354 Total $ 75,524,908 $ 87,236,940

Financing Arrangement (Tables)

Financing Arrangement (Tables)	6 Months Ended
	Jun. 30, 2019
Financing Arrangements
Schedule of Composition of Company’s Debt and Financing Obligations	June 30, December 31, 2019 2018 CIT Bank, N.A. Term Loan, net of deferred financing costs of $3,994,309 and $4,557,025 as of June 30, 2019 and December 31, 2018, respectively $ 267,365,629 $ 266,802,911 Note payable — insurance financing 991,459 1,774,199 Total debt and financing obligations 268,357,088 268,577,110 Less: current portion (991,459) (1,774,199) Long-term debt $ 267,365,629 $ 266,802,911

Concentrations and Credit Risk

Concentrations and Credit Risk (Tables)	6 Months Ended
	Jun. 30, 2019
Gross Product Sales | Customer concentration risk
Concentrations and Credit Risk
Schedule of percentage of Company’s gross sales and accounts receivable attributable to customers	Gross Product Gross Product Sales Three Months Ended Six Months Ended June 30, June 30, 2019 2018 2019 2018 Amerisource Bergen 7 % 7 % 7 % 7 % Cardinal Health 59 % 55 % 57 % 55 % McKesson 31 % 34 % 33 % 34 % Combined Total 97 % 96 % 97 % 96 %
Gross Accounts Receivable | Credit concentration risk
Concentrations and Credit Risk
Schedule of percentage of Company’s gross sales and accounts receivable attributable to customers	Gross Account Receivables June 30, December 31, 2019 2018 Amerisource Bergen 6 % 6 % Cardinal Health 68 % 61 % McKesson 23 % 29 % Combined Total 97 % 96 %

Leases (Tables)

Leases (Tables)	6 Months Ended
	Jun. 30, 2019
Leases [Abstract]
Schedule of lease assets and liabilities on the Balance Sheet	Leases Classification Balance at Assets Operating Operating Lease Assets $ 6,375,357 Finance Property, plant and equipment, net 248,453 Total leased assets $ 6,623,810 Liabilities Current Operating Current portion of lease liability $ 2,206,038 Finance Current portion of obligations under finance leases 130,505 Non-current Operating Long-term portion of lease liability 4,382,686 Finance Long-term portion of obligations under finance leases 101,363 Total lease liabilities $ 6,820,592
Schedule of lease costs	Lease Cost Classification Three months ended Six months ended Operating lease cost SG&A expenses $ 512,727 $ 978,281 R&D expenses 38,575 81,002 Cost of goods sold 91,899 183,106 Finance lease cost Amortization of leased assets Depreciation and amortization 32,479 64,056 Interest on lease liabilities Interest expense 1,091 2,237 Total lease cost $ 676,771 $ 1,308,682
Schedule of future minimum rental payments ASC842	Years ending December 31 Operating Leases Remainder of 2019 $ 1,238,074 2020 2,485,755 2021 2,049,045 2022 907,013 2023 490,515 Total lease payments 7,170,402 Less: interest 581,678 Present value of lease payments $ 6,588,724
Schedule of additional lease information	Lease Term and Discount Rate June 30, 2019 Weighted average remaining lease term (years) Operating leases Finance leases Weighted average discount rate Operating leases % Finance leases % Other Information June 30, 2019 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flows from operating leases $ (1,242,389) Operating cash flows from finance leases (2,237) Financing cash flows from finance leases (63,843)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2019
Commitments and Contingencies
Summary of Company's enforceable and legally binding royalty obligations	Royalty Obligations Less than 1 year $ 1,281,250 1 to 3 years 3,093,750 3 to 5 years 2,000,000 More than 5 years 1,583,333 Total $ 7,958,333

Organization and Nature of Op_2

Organization and Nature of Operations (Details) - USD ($)	Oct. 22, 2018	Oct. 21, 2018	Jun. 30, 2018	Jun. 30, 2018
Stock transactions
Aggregate net proceeds	$ 58,100,000
Number of shares per unit		42.84
Option shares multiple		42.84	42.84	42.84
Option exercise price divisor		$ 42.84
IPO [Member]
Stock transactions
Number of ordinary shares issued	7,647,500
Public offering price per share	$ 7
Over-Allotment Option [Member]
Stock transactions
Number of ordinary shares issued	997,500
Private Placement [Member]
Stock transactions
Number of ordinary shares issued	2,014,285

Basis of Presentation - Anti-di

Basis of Presentation - Anti-dilutive shares (Details) - shares	Oct. 21, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Weighted average ordinary units				1,000,367	1,000,367
Option shares multiple	42.84		42.84		42.84
Restricted Stock Units (RSUs) [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities		1,438,016		1,438,016
Options to Purchase Ordinary Shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potentially dilutive securities		3,169,222	3,028,788	3,169,222	3,015,936
Weighted average ordinary units			70,700		70,400

Basis of Presentation - Segment

Basis of Presentation - Segments (Details)	6 Months Ended
	Jun. 30, 2019segment
Basis of Presentation and Summary of Significant Accounting Policies
Number of operating segments	1
Number of reportable operating segments	1

Basis of Presentation - Account

Basis of Presentation - Accounting Standards (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Lease, Practical Expedients, Package [true false]	true
Lease liabilities	$ 6,588,724
Operating lease assets	6,375,357	$ 6,044,528
Deferred rent liability			$ 200,619
Current portion of lease liability	2,206,038	1,709,138
Long-term portion of lease liability	$ 4,382,686	4,536,009
Partners' Capital				$ 437,019,628	$ 431,853,759	$ 435,783,768
Restatement Adjustment [Member] | Accounting Standards Update 2016-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Operating lease assets		6,245,147
Deferred rent liability		(200,619)
Current portion of lease liability		1,709,138
Long-term portion of lease liability		$ 4,536,009

Revenues (Details)

Revenues (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Disaggregation of Revenue [Line Items]
Revenues	$ 57,532,381	$ 71,858,902	$ 114,658,727	$ 131,659,752
Contract with customer, asset and liability
Deferred revenue	0		$ 0
Remaining performance obligations			true
Contract assets	0		$ 0
Cost to obtain or fulfill contracts	0		0
Product Revenue
Disaggregation of Revenue [Line Items]
Revenues	56,215,280	71,985,642	112,615,222	130,819,848
Venlafaxine ER
Disaggregation of Revenue [Line Items]
Revenues	18,293,122	19,662,452	39,900,211	34,484,004
Methylphenidate ER
Disaggregation of Revenue [Line Items]
Revenues	17,100,286	39,146,241	37,889,769	67,325,502
Lorzone
Disaggregation of Revenue [Line Items]
Revenues	4,063,375	3,972,248	8,331,893	8,211,922
Divigel
Disaggregation of Revenue [Line Items]
Revenues	6,919,856	4,983,321	12,416,516	9,932,868
OB Complete
Disaggregation of Revenue [Line Items]
Revenues	2,675,592	2,749,705	4,606,108	5,100,697
Other
Disaggregation of Revenue [Line Items]
Revenues	7,163,049	1,471,675	9,470,725	5,764,855
Royalty Revenue
Disaggregation of Revenue [Line Items]
Revenues	779,776	(210,548)	1,500,983	752,280
License and contract revenue
Disaggregation of Revenue [Line Items]
Revenues	$ 537,325	$ 83,808	$ 542,522	$ 87,624
Maximum
Disaggregation of Revenue [Line Items]
Invoice payment due period			60 days
Maximum | Product Revenue
Disaggregation of Revenue [Line Items]
Invoice payment due period			60 days

Accounts Receivable, Sales an_3

Accounts Receivable, Sales and Allowances - Trade accounts receivable, net (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total trade accounts receivable, net	$ 68,142,413	$ 56,423,866
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Invoice payment due period	30 days
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Invoice payment due period	60 days
Chargebacks
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserves	$ (35,408,296)	(38,861,232)
Commercial rebates
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserves	(22,204,635)	(49,231,445)
Discounts and allowances
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserves	(3,397,311)	(3,510,242)
Doubtful accounts
Accounts, Notes, Loans and Financing Receivable [Line Items]
Reserves	(170,708)	(194,144)
Trade accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross trade accounts receivable	128,549,144	146,419,682
Royalty accounts receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross trade accounts receivable	156,580	238,960
Other receivable
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross trade accounts receivable	$ 617,639	$ 1,562,287

Accounts Receivable, Sales an_4

Accounts Receivable, Sales and Allowances - Adjustment to gross product sales (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Accounts, Notes, Loans and Financing Receivable [Line Items]
Revenues	$ 57,532,381	$ 71,858,902	$ 114,658,727	$ 131,659,752
Product Revenue
Accounts, Notes, Loans and Financing Receivable [Line Items]
Gross product sales	251,405,374	245,572,890	482,953,560	462,651,386
Revenues	56,215,280	71,985,642	112,615,222	130,819,848
Product Revenue | Chargebacks
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustments to gross products sales	(136,802,341)	(93,063,695)	(238,035,802)	(173,425,722)
Product Revenue | Government And Managed Care Rebates [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustments to gross products sales	(7,538,243)	(4,757,168)	(10,061,497)	(10,342,866)
Product Revenue | Commercial rebates
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustments to gross products sales	(40,204,675)	(63,397,053)	(104,802,934)	(123,388,006)
Product Revenue | Product returns
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustments to gross products sales	(4,151,074)	(5,713,789)	(5,177,413)	(11,561,103)
Product Revenue | Discounts and allowances
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustments to gross products sales	(5,092,440)	(5,356,544)	(9,793,665)	(10,441,944)
Product Revenue | Advertising and promotions
Accounts, Notes, Loans and Financing Receivable [Line Items]
Adjustments to gross products sales	$ (1,401,321)	$ (1,298,999)	$ (2,467,027)	$ (2,671,897)

Accounts Receivable, Sales an_5

Accounts Receivable, Sales and Allowances - Allowance for customer deduction (Details)	6 Months Ended
	Jun. 30, 2019USD ($)
Trade accounts receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 91,797,063
Provision	352,475,226
Charges processed	(383,091,339)
Balance at end of period	61,180,950
Chargebacks
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	38,861,232
Balance at end of period	35,408,296
Chargebacks | Trade accounts receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	38,861,232
Provision	238,035,802
Charges processed	(241,488,738)
Balance at end of period	35,408,296
Commercial rebates
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	49,231,445
Balance at end of period	22,204,635
Commercial rebates | Trade accounts receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	49,231,445
Provision	104,802,934
Charges processed	(131,829,744)
Balance at end of period	22,204,635
Discounts and allowances
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	3,510,242
Balance at end of period	3,397,311
Discounts and allowances | Trade accounts receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	3,510,242
Provision	9,793,665
Charges processed	(9,906,596)
Balance at end of period	3,397,311
Doubtful accounts
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	194,144
Balance at end of period	170,708
Doubtful accounts | Trade accounts receivable
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	194,144
Provision	(157,175)
Charges processed	133,739
Balance at end of period	$ 170,708

Accounts Receivable, Sales an_6

Accounts Receivable, Sales and Allowances - Accrued liabilities for customer deductions (Details) - Accrued liabilities	6 Months Ended
	Jun. 30, 2019USD ($)
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	$ 58,444,385
Provision	15,238,910
Charges processed	(19,257,971)
Balance at end of period	54,425,324
Product returns
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	48,463,509
Provision	5,177,413
Charges processed	(6,513,688)
Balance at end of period	47,127,234
Government And Managed Care Rebates [Member]
SEC Schedule, 12-09, Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at beginning of period	9,980,876
Provision	10,061,497
Charges processed	(12,744,283)
Balance at end of period	$ 7,298,090

Inventories - Components (Detai

Inventories - Components (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Inventories
Finished goods	$ 15,523,131	$ 15,577,104
Work in process	1,358,960	1,138,906
Raw materials and supplies	10,993,177	7,667,011
Total	$ 27,875,268	$ 24,383,021

Inventories - Allowance for Exc

Inventories - Allowance for Excess and Obsolete Inventory (Details) - Allowance for excess and obsolete inventory - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Summary of activity in the allowance for excess, obsolete, and net realizable value inventory account
Balance at beginning of period	$ 1,561,082	$ 3,066,620
Provision	2,154,408	2,926,472
Charges processed	(1,430,030)	(4,432,010)
Balance at end of period	$ 2,285,460	$ 1,561,082

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Goodwill (Details)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)item	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Goodwill [Line Items]
Impairment of intangibles	$ 125,765,610	$ 125,765,610
Number of products discontinued | item	1
Goodwill [Roll Forward]
Goodwill, Beginning Balance		100,854,816
Goodwill impairment			$ 86,318,000
Goodwill, Ending Balance	$ 100,854,816	100,854,816	$ 100,854,816
Distribution Rights
Goodwill [Line Items]
Impairment of intangibles	50,679,974	50,679,974
Product Rights
Goodwill [Line Items]
Impairment of intangibles	17,920,049	17,920,049
Developed Technology
Goodwill [Line Items]
Impairment of intangibles	$ 57,165,587	$ 57,165,587

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Major Categories (Details) - USD ($)	6 Months Ended	12 Months Ended
	Jun. 30, 2019	Dec. 31, 2018
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Accumulated amortization	$ (193,325,197)	$ (159,588,928)
Impairment	(125,765,610)	(17,903,208)
Net carrying amount, finite-lived	266,887,844
Gross carrying amount	649,978,651	667,881,859
Net carrying amount	330,887,844	490,389,723
Fully-impaired intangible assets, gross carrying amount	28,299,941	17,886,772
Fully-impaired assets, accumulated amortization	10,379,892	6,156,564
IPR&D
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Impairment		(7,600,000)
Gross carrying amount, Indefinite-lived	64,000,000	91,300,000
Indefinite-lived intangible assets	64,000,000	83,700,000
Net carrying amount	64,000,000	83,700,000
Distribution Rights
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Gross carrying amount, finite-lived	98,433,377	98,433,377
Accumulated amortization	(20,863,650)	(17,229,374)
Impairment	(50,679,974)
Net carrying amount, finite-lived	26,889,753	81,204,003
Net carrying amount	$ 26,889,753	$ 81,204,003
Weighted average remaining amortization period (Years)	11 years	12 years
Product Rights
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Gross carrying amount, finite-lived	$ 348,599,941	$ 326,530,149
Accumulated amortization	(136,957,469)	(109,056,754)
Impairment	(17,920,049)
Net carrying amount, finite-lived	193,722,423	217,473,395
Net carrying amount	$ 193,722,423	$ 217,473,395
Weighted average remaining amortization period (Years)	3 years 7 months 6 days	4 years
Tradenames
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Gross carrying amount, finite-lived	$ 13,485,000	$ 13,485,000
Accumulated amortization	(2,682,241)	(2,329,284)
Net carrying amount, finite-lived	10,802,759	11,155,716
Net carrying amount	$ 10,802,759	$ 11,155,716
Weighted average remaining amortization period (Years)	15 years 6 months	16 years
Developed Technology
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Gross carrying amount, finite-lived	$ 125,460,333	$ 138,133,333
Accumulated amortization	(32,821,837)	(30,973,516)
Impairment	(57,165,587)	(10,303,208)
Net carrying amount, finite-lived	35,472,909	96,856,609
Net carrying amount	$ 35,472,909	$ 96,856,609
Weighted average remaining amortization period (Years)	11 years 8 months 12 days	12 years 7 months 6 days

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Changes in Net Carrying Amount of Intangible Assets (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Balance at the beginning of the period			$ 490,389,723
Amortization	$ (16,868,134)	$ (19,302,132)	(33,736,269)	$ (38,674,805)
Impairments	(125,765,610)		(125,765,610)
Balance at the end of the period	330,887,844		330,887,844
IPR&D
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Balance at the beginning of the period			83,700,000
Reclassifications			(19,700,000)
Balance at the end of the period	64,000,000		64,000,000
Distribution Rights
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Balance at the beginning of the period			81,204,003
Amortization			(3,634,276)
Impairments	(50,679,974)		(50,679,974)
Balance at the end of the period	26,889,753		26,889,753
Product Rights
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Balance at the beginning of the period			217,473,395
Amortization			(25,530,923)
Impairments	(17,920,049)		(17,920,049)
Reclassifications			19,700,000
Balance at the end of the period	193,722,423		193,722,423
Tradenames
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Balance at the beginning of the period			11,155,716
Amortization			(352,957)
Balance at the end of the period	10,802,759		10,802,759
Developed Technology
Schedule of major categories of the Company’s intangible assets and the weighted average remaining amortization period
Balance at the beginning of the period			96,856,609
Amortization			(4,218,113)
Impairments	(57,165,587)		(57,165,587)
Balance at the end of the period	$ 35,472,909		$ 35,472,909

Goodwill and Other Intangible_6

Goodwill and Other Intangible Assets - Fair value (Details)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impairment of goodwill			$ 86,318,000
Impairment of intangibles	$ 125,765,610	$ 125,765,610
Measurement Input, Discount Rate [Member]
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Discount rate for goodwill and intangible assets	17	17
Product Rights
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impairment of intangibles	$ 17,920,049	$ 17,920,049
Developed Technology
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impairment of intangibles	$ 57,165,587	$ 57,165,587

Goodwill and Other Intangible_7

Goodwill and Other Intangible Assets - Amortization (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Goodwill and Other Intangible Assets
Amortization	$ 16,868,134	$ 19,302,132	$ 33,736,269	$ 38,674,805
Amortization expense of acquired intangible assets
Remainder of 2019	26,901,570		26,901,570
2020	50,339,141		50,339,141
2021	44,894,160		44,894,160
2022	38,005,544		38,005,544
2023	35,834,234		35,834,234
Thereafter	70,913,195		70,913,195
Net carrying amount, finite-lived	$ 266,887,844		$ 266,887,844

Accrued Liabilities (Details)

Accrued Liabilities (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Accrued Liabilities Abstract
Accrued product returns	$ 47,127,234	$ 48,463,509
Accrued royalties	2,450,149	3,597,957
Accrued compensation	6,551,636	8,672,913
Accrued government and managed care rebates	7,298,090	9,980,876
Accrued research and development	3,649,115	8,337,812
Accrued expenses and other liabilities	7,625,466	7,362,941
Customer coupons	823,218	719,578
Deferred revenue		101,354
Accrued Liabilities	$ 75,524,908	$ 87,236,940

Financing Arrangements (Details

Financing Arrangements (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Financing Arrangements
Long-term debt	$ 268,357,088	$ 268,577,110
Less current portion	(991,459)	(1,774,199)
Long‑term debt, net of non‑current deferred financing costs	267,365,629	266,802,911
Deferred financing costs	3,994,309	4,557,025
CIT Bank, N.A. Term Loan
Financing Arrangements
Long-term debt	267,365,629	266,802,911
Note payable — insurance financing
Financing Arrangements
Long-term debt	$ 991,459	$ 1,774,199

Financing Arrangements - Term l

Financing Arrangements - Term loan (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Financing Arrangements
Deferred financing costs	$ 3,994,309	$ 4,557,025
Term A Loan
Financing Arrangements
Effective interest rate (as percent)	6.15%	6.09%
Term B Loan
Financing Arrangements
Effective interest rate (as percent)	6.65%	6.59%

Financing Arrangements - Revolv

Financing Arrangements - Revolving credit facility (Details)	Jun. 30, 2019USD ($)
Financing Arrangements
Amount outstanding	$ 0
Aggregate borrowing capacity	$ 50,000,000

Concentrations and Credit Risks

Concentrations and Credit Risks (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019customeritem	Jun. 30, 2018customeritem	Dec. 31, 2018
Gross Sales | Customer concentration risk
Concentrations and Credit Risk
Number of customers			3	3
Concentration risk (as a percent)	97.00%	96.00%	97.00%	96.00%
Gross Sales | Customer concentration risk | Amerisource Bergen
Concentrations and Credit Risk
Concentration risk (as a percent)	7.00%	7.00%	7.00%	7.00%
Gross Sales | Customer concentration risk | Cardinal Health
Concentrations and Credit Risk
Concentration risk (as a percent)	59.00%	55.00%	57.00%	55.00%
Gross Sales | Customer concentration risk | McKesson
Concentrations and Credit Risk
Concentration risk (as a percent)	31.00%	34.00%	33.00%	34.00%
Gross Accounts Receivable | Credit concentration risk
Concentrations and Credit Risk
Number of customers			3	3
Concentration risk (as a percent)			97.00%		96.00%
Gross Accounts Receivable | Credit concentration risk | Amerisource Bergen
Concentrations and Credit Risk
Concentration risk (as a percent)			6.00%		6.00%
Gross Accounts Receivable | Credit concentration risk | Cardinal Health
Concentrations and Credit Risk
Concentration risk (as a percent)			68.00%		61.00%
Gross Accounts Receivable | Credit concentration risk | McKesson
Concentrations and Credit Risk
Concentration risk (as a percent)			23.00%		29.00%
Purchases | Supplier concentration risk
Concentrations and Credit Risk
Concentration risk (as a percent)		97.00%
Number of suppliers | item			1	1
Purchases | Supplier concentration risk | Minimum
Concentrations and Credit Risk
Concentration risk (as a percent)	96.00%		83.00%	89.00%

Incentive Plans - Activity, Exp

Incentive Plans - Activity, Expense, Unrecognized Cost (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Incentive plans
Allocated Share-based Compensation Expense	$ 1,327,045	$ 0	$ 2,495,908	$ 0
Unrecognized compensation cost related to nonvested options	$ 12,952,690		$ 12,952,690
Awards granted, shares	69,185		1,443,520
Awards outstanding, end of period	1,438,016		1,438,016
Restricted Stock Units (RSUs) [Member]
Incentive plans
Remaining requisite service period			3 years 8 months 9 days
Total
Incentive plans
Remaining requisite service period			1 year 8 months 12 days

Leases (Details)

Leases (Details) - USD ($)	6 Months Ended
	Jun. 30, 2019	Jan. 01, 2019	Dec. 31, 2018
Leases [Abstract]
Renewal term (in years)			1 year
Lessee, Operating Lease, Existence of Option to Extend [true false]	true
Lessee, Operating Lease, Existence of Option to Terminate [true false]	true
Lease, Practical Expedient, Lessor Single Lease Component [true false]	true
Operating Lease, Right-of-Use Asset	$ 6,375,357	$ 6,044,528
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Operating Lease, Right-of-Use Asset
Finance Lease, Right-of-Use Asset	$ 248,453
Finance Lease, Right-of-Use Asset, Statement of Financial Position [Extensible List]	Property, Plant and Equipment, Net
Total leased assets	$ 6,623,810
Operating Lease, Liability, Current	$ 2,206,038	1,709,138
Operating Lease, Liability, Current, Statement of Financial Position [Extensible List]	Operating Lease, Liability, Current
Finance Lease, Liability, Current	$ 130,505
Finance Lease, Liability, Current, Statement of Financial Position [Extensible List]	Finance Lease, Liability, Current
Operating Lease, Liability, Noncurrent	$ 4,382,686	$ 4,536,009
Operating Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Operating Lease, Liability, Noncurrent
Finance Lease, Liability, Noncurrent	$ 101,363
Finance Lease, Liability, Noncurrent, Statement of Financial Position [Extensible List]	Finance Lease, Liability, Noncurrent
Total lease liabilities	$ 6,820,592

Leases - Lease cost (Details)

Leases - Lease cost (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Lease, Cost [Abstract]
Lease, Cost, Total	$ 676,771		$ 1,308,682
Selling, general and administrative expenses
Lease, Cost [Abstract]
Operating lease cost	512,727		978,281
Rent expenses ASC840		$ 170,821		$ 328,134
Research and development
Lease, Cost [Abstract]
Operating lease cost	38,575		81,002
Rent expenses ASC840		60,748		146,568
Cost of goods sold
Lease, Cost [Abstract]
Operating lease cost	91,899		183,106
Rent expenses ASC840		$ 89,849		$ 182,816
Depreciation And Amortization Caption [Member]
Lease, Cost [Abstract]
Amortization of leased assets	32,479		64,056
Interest Expense [Member]
Lease, Cost [Abstract]
Interest on lease liabilities	$ 1,091		$ 2,237

Leases - Maturities (Details)

Leases - Maturities (Details)	Jun. 30, 2019USD ($)
Lessee, Operating Lease, Liability, Payment, Due [Abstract]
Remainder of 2019	$ 1,238,074
2020	2,485,755
2021	2,049,045
2022	907,013
2023	490,515
Payments due, total	7,170,402
Interest	581,678
Lease liabilities	6,588,724
Finance Lease, Liability, Payment, Due [Abstract]
Finance lease total payments	236,084
Interest	4,216
Net finance lease liability	$ 231,868

Leases - Additional information

Leases - Additional information (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Lease, Cost [Abstract]
Weighted average remaining lease term, operating leases	3 years 2 months 9 days		3 years 2 months 9 days
Weighted average remaining lease term, finance leases	1 year 8 months 27 days		1 year 8 months 27 days
Weighted average discount rate, operating leases	5.05%		5.05%
Weighted average discount rate, finance leases	1.79%		1.79%
Operating cash flows from operating leases			$ (1,242,389)
Operating cash flows from finance leases			(2,237)
Financing cash flows from finance leases			(63,843)
Leased assets obtained in exchange for new operating lease liabilities	$ 553,860		$ 1,369,479
Leased assets obtained in exchange for new finance lease liabilities		$ 20,134		$ 38,418

Commitments and Contingencies -

Commitments and Contingencies - Royalty Obligations (Details) - Royalty obligations	Jun. 30, 2019USD ($)
Summary of Company’s enforceable and legally binding royalty obligations
Less than 1 year	$ 1,281,250
1 to 3 years	3,093,750
3 to 5 years	2,000,000
More than 5 years	1,583,333
Royalty obligations	$ 7,958,333

Commitments and Contingencies_2

Commitments and Contingencies - Legal (Details)	Jul. 22, 2019item
Subsequent Events
Loss Contingencies [Line Items]
Number Of Legal Actions Consolidated	2

Income Taxes (Details)

Income Taxes (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Taxes
Income tax benefit (expense)	$ 11,662,211	$ (1,819,402)	$ 12,902,443	$ (624,083)
Loss before income tax	$ 136,316,198	$ (7,707,501)	$ 143,756,730	$ (1,904,836)
Statutory income tax rate			10.00%	15.00%

Related Parties (Details)

Related Parties (Details) - USD ($)	Apr. 05, 2019	Aug. 22, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Amount per agreement			$ 44,086	$ 69,426	$ 92,574	$ 151,371
Shareholder
Related Party Transaction [Line Items]
Accrued liability			$ 51,782		$ 51,782		$ 83,818
Related party expenses				$ 250,000		$ 520,147
Avista
Related Party Transaction [Line Items]
Amount per agreement	$ 211,038	$ 2,400,000