Under BARDA Contract, Opiant Pharma Secures Additional Funding Of $2M For Opioid Overdose Program

The Biomedical Advanced Research and Development Authority (BARDA) will provide additional funding of up to $2.2 million to support Opiant Pharmaceuticals Inc's (NASDAQ: OPNT) OPNT003, nasal nalmefene, for opioid overdose. 

•  The increase in funding is primarily directed toward the costs of Opiant's clinical studies to support its submission of OPNT003 to the FDA.
• The Company is currently completing a non-inferiority pharmacodynamic study comparing nasal nalmefene with nasal naloxone in reversing respiratory depression produced by remifentanil, a synthetic opioid. 
• Also See: Opiant Pharma Starts Dosing In OPNT002 Mid-Stage Study For Alcohol Use Disorder.
• In a confirmatory pharmacokinetic study conducted last year, OPNT003 exhibited fast absorption and high plasma concentrations that surpassed intramuscular nalmefene, as well as a comparable long duration. 
• Earlier awards from BARDA for up to $8.1 million, combined with a $7.4 million grant Opiant received from the National Institute on Drug Abuse, also support the clinical development and U.S. regulatory submission of OPNT003. 
• In November 2021, the FDA granted OPNT003 Fast Track Designation.
• Price Action: OPNT shares closed at $26.09 on Monday.