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 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.
See more from Benzinga
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
