Opiant Pharmaceuticals Announces Contract with Biomedical Advanced Research and Development Authority for Up to $4.6 Million to Accelerate Development of OPNT003, Nasal Nalmefene, for Trea...
Opiant Pharmaceuticals, Inc. (OPNT)
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Source: GlobeNewswire
SANTA MONICA, Calif., Sept. 20, 2018 (GLOBE NEWSWIRE) -- Opiant Pharmaceuticals, Inc. (NASDAQ:OPNT), a specialty pharmaceutical company developing pharmacological treatments for addictions and drug overdose, today announced that it has entered into a multi-year contract with potential funding up to a maximum of approximately $4.6 million, with the Biomedical Advanced Research and Development Authority (BARDA), part of the U.S. Health and Human Services Office of the Assistant Secretary for Preparedness and Response, to accelerate Opiant’s development of OPTN003, its lead product candidate. OPTN003, nasal nalmefene, is a potent, long-acting opioid antagonist currently in development for the treatment of opioid overdose. Opioid overdose is a significant public health crisis worsened by the increasing prevalence of synthetic opioids, such as fentanyl. Fentanyl is 50-fold more potent than heroin, far easier and less expensive to produce and has a significantly longer half-life. Fentany
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