Opiant Pharmaceuticals Announces Pricing of Public Offering of Common Stock

Opiant Pharmaceuticals (NASDAQ:OPNT), a specialty pharmaceutical company developing pharmacological treatments for addictions and drug abuse, today announced the pricing of an underwritten public offering of 705,882 shares of its common stock at a public offering price of $17.00 per share.

As quoted in the press release:

The gross proceeds from the offering, before deducting underwriting discounts and commissions and estimated offering expenses payable by Opiant, are expected to be approximately $12 million. In addition, Opiant granted the underwriter a 30-day option to purchase up to 105,882 additional shares of common stock at the public offering price, less the underwriting discounts and commissions. All of the shares in the offering are being sold by Opiant. The offering is expected to close on or about September 27, 2018, subject to customary closing conditions.

Cantor Fitzgerald is acting as sole book-running manager for the offering, with LifeSci Capital as the lead manager.

Opiant intends to use the net proceeds from the offering primarily to advance its Alcohol Use Disorder and Bulimia Nervosa clinical programs, as well as for general corporate purposes.

Click here to read the full press release.