Opiant Pharmaceuticals Announces Appointment of Biopharmaceutical Leader Craig A. Collard as Chairman to its Board of Directors

Rhea-AI Summary

Opiant Pharmaceuticals (NASDAQ: OPNT) announced the appointment of Craig A. Collard as Chairman of its Board of Directors, effective January 1, 2021. With over 20 years in the biopharmaceutical sector, Collard brings significant experience, having previously served as CEO of multiple pharmaceutical companies. His leadership is expected to bolster Opiant's mission to deliver new medicines for addiction and drug overdose, especially with its lead candidate, OPNT003, aimed at treating opioid overdose. Gabrielle Silver, the current Lead Independent Director, will continue her role as an independent board member.

Positive

• Appointment of Craig A. Collard as Chairman brings extensive biopharmaceutical experience.
• Collard's leadership is timely as Opiant advances OPNT003, a potential best-in-class treatment for opioid overdose.

Negative

• Concerns regarding continuity in leadership with the transition from Gabrielle Silver to Craig Collard.

SANTA MONICA, Calif., Dec. 07, 2020 (GLOBE NEWSWIRE) -- Opiant Pharmaceuticals, Inc. (“Opiant”) (NASDAQ: OPNT), a specialty pharmaceutical company developing medicines to treat addictions and drug overdose, announced today the appointment of Craig A. Collard, a seasoned biopharmaceutical leader with over 20 years of commercial and executive experience, to Chairman of its Board of Directors, effective January 1, 2021. Mr. Collard joined the Opiant board in 2018. Gabrielle Silver, M.D., who has served as Lead Independent Director since October, 2018, will remain an independent director on the Board and continue to be Chairman of the Nominating and Governance Committee.

“As we pursue our mission to deliver new medicines for addiction and overdose, I couldn’t be more excited to have Craig as Chairman to our Board of Directors,” said Roger Crystal, M.D., President and Chief Executive Officer of Opiant.“As CEO of three pharmaceutical companies, and founder of two, Craig has terrific experience in creating shareholder value through successfully bringing new medicines to market. His appointment as Chairman is particularly timely as we continue to advance OPNT003, nasal nalmefene, a potential best-in-class treatment for opioid overdose. I also want to thank Gaby for her leadership during an important time in Opiant’s journey and am delighted that she will continue to serve as a valued independent member of our Board.”

“Opiant offers a unique profile as a company focused on addiction and overdose,” said Craig Collard, incoming Chairman, Board of Directors, Opiant. “I look forward to working closely with Roger and the rest of the Board as we enter a new phase and move toward potential commercialization of our lead pipeline asset in the next few years.”

Mr. Collard is currently the CEO of Veloxis Pharmaceutics, Inc., a transplant-focused pharmaceutical company, now a subsidiary of Asahi Kasei after its acquisition of Veloxis for $1.3 billion in 2020. Prior to this, he served as the CEO and Chairman of Cornerstone Therapeutics, Inc., a pharmaceutical company he founded in 2004, until February 2014 when the company was purchased for $300 million by Chiesi Pharmaceuticals, Inc. Before founding Cornerstone, Mr. Collard served as President and CEO of Carolina Pharmaceuticals, Inc., a pharmaceutical company he founded in May 2003. From 1992 to 2003, Mr. Collard served in various commercial roles at Verum Pharmaceuticals, Inc., and DJ Pharma, Inc. Mr. Collard is a member of the Board of Directors of Veloxis, Sierra Oncology, Inc. and TerrAscend Corporation. Mr. Collard holds a B.S. in Engineering from the Southern College of Technology (now Southern Polytechnic State University) in Marietta, Georgia.

About Opiant Pharmaceuticals, Inc. 
Opiant Pharmaceuticals, Inc., the company that developed NARCAN^® Nasal Spray, is building a leading franchise of new medicines to combat addictions and drug overdose.
For more information 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, and among other things, our ability to maintain cash balances and successfully commercialize or partner our product candidates currently under development. 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. Additional factors that could materially affect actual results can be found in our Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission on March 4, 2020, including under the caption titled “Risk 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.

For Media and Investor Inquiries:
Ben Atkins, Opiant
(310) 598-5410
batkins@opiant.com

FAQ

What is the significance of Craig A. Collard's appointment to Opiant Pharmaceuticals?

Craig A. Collard's appointment as Chairman of Opiant's Board is significant due to his extensive experience in biopharmaceuticals and potential to drive shareholder value.

How will Craig A. Collard impact the development of OPNT003?

Collard's background suggests he will focus on advancing OPNT003, a leading candidate for opioid overdose treatment, potentially leading to successful commercialization.

What role will Gabrielle Silver continue to have at Opiant Pharmaceuticals?

Gabrielle Silver will remain an independent director on the Board and serve as Chairman of the Nominating and Governance Committee.

When does Craig A. Collard officially start as Chairman of the Board?

Craig A. Collard will officially become Chairman of the Board effective January 1, 2021.