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Opiant Pharmaceuticals (NASDAQ: OPNT) announced that its Compensation Committee approved the grant of 31,500 restricted stock units (RSUs) to six new employees. This grant is part of the 2021 Inducement Equity Incentive Plan and serves as an inducement to employment, complying with Nasdaq Listing Rule 5635(c)(4). The RSUs will vest over four years, with 25% vesting annually, contingent upon continued employment. Opiant is known for developing medicines for addictions and drug overdoses, including the NARCAN® Nasal Spray.
Opiant Pharmaceuticals (NASDAQ: OPNT) announced the approval of restricted stock units (RSUs) for 31,500 shares granted to six new employees as part of its 2021 Inducement Equity Incentive Plan. These RSUs will vest over four years, with 25% vesting each year, contingent upon continued employment. This move aims to attract talent in the pharmaceutical sector, particularly in treating addictions and overdose. The company is known for developing NARCAN® Nasal Spray and is focused on expanding its portfolio of addiction treatment medicines.
Opiant Pharmaceuticals (NASDAQ: OPNT) reported strong Q3 2021 financial results, with revenues of $16.3 million, a 79% increase year-over-year, driven primarily by royalties from NARCAN® Nasal Spray. Nine-month revenues reached $34 million. The company anticipates full-year 2021 royalty revenue of $38 million and expects to end the year with $50-52 million in cash and equivalents. Opiant also announced FDA Fast-Track designation for OPNT003, a nasal nalmefene product for opioid overdose, with potential NDA submission in H1 2022.
Net income for Q3 stood at $3.4 million or $0.77 per share, compared to $0.7 million or $0.17 per share in Q3 2020.
Opiant Pharmaceuticals, Inc. (Nasdaq: OPNT) will participate in the 12th Jefferies London Healthcare Conference virtually on November 18-19, 2021. Senior management will engage in investor one-on-one meetings during the event. A webcast of the conference will be available on the company's website starting November 18 at 8:00 AM GMT / 3:00 AM ET. Opiant is known for developing NARCAN® Nasal Spray and is focused on creating innovative treatments for addiction and drug overdose.
Opiant Pharmaceuticals has received Fast Track Designation from the FDA for its investigational drug OPNT003, a nasal formulation of nalmefene aimed at treating opioid overdoses. This designation highlights the drug's potential to significantly impact the public health crisis of rising opioid overdose deaths, particularly driven by potent synthetic opioids like fentanyl. The Fast Track status allows for more frequent communication with the FDA and a potential rolling submission for its New Drug Application. OPNT003 shows promise based on recent pharmacokinetic studies.
Opiant Pharmaceuticals (NASDAQ: OPNT) announced the publication of a manuscript titled “Treatment of Overdose in the Synthetic Opioid Era” in the peer-reviewed journal Pharmacology & Therapeutics. Authored by Chief Scientific Officer Phil Skolnick, the paper discusses the rising public health crisis of opioid overdoses, particularly from synthetic opioids like fentanyl, which accounted for over 80% of the 69,000 opioid overdose deaths in 2020. Opiant emphasizes the urgent need for effective treatments, including stronger opioid antagonists, to address this escalating issue.
Opiant Pharmaceuticals (NASDAQ: OPNT) will report its third quarter 2021 financial results and pipeline updates on November 11, 2021, after U.S. market close. A conference call is scheduled for 4:30 p.m. ET on the same day to discuss the results and operational progress. Investors can access the call via phone or a live webcast through the company's website. Opiant is known for its development of NARCAN® Nasal Spray and is focusing on expanding its portfolio to address addictions and drug overdoses.
Opiant Pharmaceuticals (Nasdaq: OPNT) announced its participation in several virtual investor conferences. The H.C. Wainwright 23rd Annual Global Investment Conference will take place from September 13-15, 2021, featuring an on-demand presentation available at 7:00am ET on September 13. The Oppenheimer Fall Healthcare Life Sciences & MedTech Summit follows on September 20-23, 2021, with a presentation scheduled for September 20 at 4:35 pm ET. Lastly, the Cantor 2021 Virtual Global Healthcare Conference will occur on September 27-30, 2021, including a fireside chat on September 29 at 4:00 pm ET.
Opiant Pharmaceuticals, Inc. (NASDAQ: OPNT) reported Q2 2021 revenues of $11.3 million, a 79% increase year-over-year, driven by NARCAN® Nasal Spray royalties. The company raised its full-year 2021 royalty revenue guidance to approximately $28.9 million, anticipating strong demand due to escalating opioid overdoses. Positive PK study results for OPNT003, a nasal nalmefene product, support its development as a new standard of care. Opiant ended Q2 with $48.5 million in cash and equivalents.
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