Opiant Pharmaceuticals, Inc.’s Partner, Adapt Pharma Limited, Submits New Drug Submission for Naloxone Nasal Spray to Health Canada

SANTA MONICA, Calif., May 06, 2016 (GLOBE NEWSWIRE) — Opiant Pharmaceuticals, Inc. (“Opiant”) (OTCQB:OPNT), a specialty pharmaceutical company developing pharmacological treatments for substance use, addictive and eating disorders, announced that its commercial partner for naloxone nasal spray for the emergency reversal of opioid overdose, Adapt Pharma Limited (“Adapt”), has submitted a new drug submission (NDS) for the product to Health Canada.

“The need for better access to treatments for opioid overdose is a global challenge and why we developed naloxone nasal spray,” said Roger Crystal, M.D., Chief Executive Officer of Opiant. “The product, branded as NARCAN® Nasal Spray in the U.S., was launched in the U.S. in February by our commercial partner, Adapt. We commend Adapt’s efforts to bring this nasally-delivered formulation to Canada.”

Currently, the injectable formulation of naloxone is available in Canada and naloxone has been the standard treatment for opioid overdose in that country for over 40 years. Recently, Health Canada revised the listing of naloxone on the Canadian Prescription Drug list to allow non-prescription use of naloxone for emergency opioid overdose use outside of hospital settings. Adapt anticipates that if naloxone nasal spray is approved in Canada, it will be available without a prescription.

In December 2014, Opiant announced a licensing deal with a subsidiary of Adapt. In exchange for licensing its opioid overdose reversal treatment, Opiant could receive total potential milestone payments of more than $55 million, plus up to double-digit percentage royalties on net sales.

Indications and Important Safety Information: https://www.NarcanNasalSpray.com.

About Opiant Pharmaceuticals, Inc.

Opiant Pharmaceuticals, Inc., is a specialty pharmaceutical company developing pharmacological treatments for substance use, addictive and eating disorders. Over 45 million people in the U.S. have one of these disorders. The National Institute on Drug Abuse (NIDA), a division of the National Institutes of Health (NIH), describes these disorders as chronic relapsing brain diseases which burden society at both the individual and community levels. With its innovative opioid antagonist nasal delivery technology, Opiant is positioned to become a leader in these treatment markets. Its first product, NARCAN® Nasal Spray, is approved for marketing in the U.S. by the company’s partner, Adapt Pharma Limited. Currently, Opiant is developing opioid antagonists for the treatment of substance use, addictive and eating disorders, with a near term focus on cocaine use disorder and binge eating disorder (BED). For more information please visit: www.opiant.com.

Forward-Looking Statements

This press release contains forward-looking statements. These statements relate to future events or our future financial performance and involve known and unknown risks, uncertainties and other factors that may cause our or our industry’s actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed, implied or inferred by these forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may,” “will,” “should,” “could,” “would,” “expects,” “plans,” “intends,” “anticipates,” “believes,” “estimates,” “predicts,” “projects,” “potential,” or “continue” or the negative of such terms and other comparable terminology. These statements are only predictions based on our current expectations and projections about future events. You should not place undue reliance on these statements. Actual events or results may differ materially. In evaluating these statements, you should specifically consider various factors. These and other factors may cause our actual results to differ materially from any forward-looking statement. We undertake no obligation to update any of the forward-looking statements after the date of this press release to conform those statements to reflect the occurrence of unanticipated events, except as required by applicable law.

CONTACT INFORMATION:
Corporate Contact:
Investor.relations@opiant.com
Media Relations and Investor Relations:
Robert E. Flamm, Ph.D.
Robert.flamm@russopartnersllc.com (212) 845-4226