Opiant Pharmaceuticals Awarded Grant of Approximately $7.4 Million from the National Institutes of Health for Development of OPNT003, Intranasal Nalmefene, for Treatment of Opioid Overdose
Grant Expected to
“We view this NIDA grant as further validation of the potential for OPNT003 to be an important treatment for opioid overdose, a growing U.S. health epidemic,” said
“The receipt of this grant is reflective of our aim to maximize non-dilutive financing to support our research and development programs,” said David O’Toole, Chief Financial Officer of Opiant. “Over the last five months, we have also announced the return of our royalty stream from
The grant follows encouraging data from a Phase I clinical study of OPNT003 and a subsequent recent meeting with the
Opiant was awarded this grant, to be funded over the next three years, following an in-depth evaluation by NIDA of the Company’s proposed research for scientific and technical merit. Opiant retains full commercial rights to OPNT003.
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Source: Opiant Pharmaceuticals, Inc.