Opiant Pharmaceuticals Reports Financial Results for August 1, 2017, Through December 31, 2017

Opiant Pharmaceuticals (NASDAQ:OPNT), a specialty pharmaceutical company developing pharmacological treatments for addictions, following the recent approval by its Board of Directors of a resolution changing the Company’s fiscal year-end from July 31 to December 31, today reported financial results for the transition period of August 1, 2017, through December 31, 2017, and provided a corporate update.

As quoted in the press release:

“After successfully paying back SWK its original investment in 2017, thereby reverting back to a right to receive 90% of royalty and milestone payments related to NARCAN® Nasal Spray and a robust clinical development pipeline advancing as planned, we entered 2018 in a much stronger operating position,” said Roger Crystal, M.D., Chief Executive Officer of Opiant. “NARCAN® continues to gain commercial traction, which resulted in Opiant recording a total of approximately $11.7 million in royalty and milestone revenue for the five-month period from August 1 through December 31, 2017. In addition, our promising pipeline was further strengthened following the recent positive data from our Phase I clinical study of OPNT003 (intranasal nalmefene) for the treatment of opioid overdose. Based on feedback from the U.S. Food and Drug Administration (FDA), we intend to pursue a 505(b)(2) development path for OPNT003, with the potential to submit a New Drug Application (NDA) for this product candidate in 2020.”

Click here to read the full press release.