Opnet Technologies, Inc. (OPNT) Reports Q2 Loss of $0.52

Opnet Technologies, Inc. (NASDAQ: OPNT) reported Q2 EPS of ($0.52).

“Opiant is in a strong position to execute its operating plan,” said Roger Crystal, M.D., Chief Executive Officer of Opiant. “As a leader in addiction and drug overdose with an approved product and others in development targeting several substantial markets with critical unmet needs, we are well-positioned to create significant long-term shareholder value. We have a growing royalty revenue stream from net sales of NARCAN® Nasal Spray for the treatment of opioid overdose by our commercial partner, Adapt Pharmaceuticals (“Adapt”), and our successful development of this product serves to de-risk our robust and advancing pipeline.”

“Importantly, we are supported by a strong financial profile, with cash of approximately $11.2 million at the end of the second quarter,” continued Dr. Crystal. “Beyond our balance sheet, we were recently awarded a grant of approximately $7.4 million from the National Institutes of Health’s (“NIH”) National Institute on Drug Abuse for the development of OPNT003, our lead product candidate. OPNT003, nasal nalmefene, is a long-acting opioid antagonist currently in development for the treatment of opioid overdose. We believe our financial resources are sufficient to fund the completion of a registration study for OPNT003, and the results from two Phase II studies for our other product candidates, OPNT001 for Bulimia Nervosa and OPNT002 for Alcohol Use Disorder.”

For earnings history and earnings-related data on Opnet Technologies, Inc. (OPNT) click here.

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