Opiant Pharmaceuticals (OPNT) Tops Q4 EPS by $2.30

Opiant Pharmaceuticals (NASDAQ: OPNT) reported Q4 EPS of $0.20, $2.30 better than the analyst estimate of ($2.10). Revenue for the quarter came in at $7.67 million versus the consensus estimate of $7.63 million.

“We continue to make good progress advancing our pipeline, and are excited about our expected 2020 milestones,” stated Roger Crystal, M.D., President and Chief Executive Officer of Opiant. “There is a large commercial opportunity for each of our products under development, including the market for opioid reversal agents, which we expect to reach approximately $1 billion in 2022. While access to naloxone is critical to save lives, a substantial need continues to exist for stronger, longer-acting opioid antagonists due to the rapid increase in fentanyl-related overdoses. A new report from the Centers for Disease Control and Prevention showed that fentanyl-related drug overdose deaths in 2018 increased 10 percent from 2017.”

David O’Toole, Chief Financial Officer, added: “We are in a strong financial position as we begin 2020, including having our pipeline funded through government sources, and a royalty revenue stream from net sales of NARCAN® Nasal Spray.”

For earnings history and earnings-related data on Opiant Pharmaceuticals (OPNT) click here.

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