Opiant Pharmaceuticals (OPNT) Misses Q4 EPS by 23c, Revenues Beat

Opiant Pharmaceuticals (NASDAQ: OPNT) reported Q4 EPS of ($0.16), $0.23 worse than the analyst estimate of $0.07. Revenue for the quarter came in at $9.92 million versus the consensus estimate of $9.2 million.

Commenting, Roger Crystal, M.D., President and Chief Executive Officer of Opiant, said:

“We are excited to start 2021 by announcing important clinical progress with OPNT003, nasal nalmefene, for opioid overdose. We are nearing completion of our confirmatory PK study and intend to begin our PD study mid-March. Importantly, we expect top-line data from both of these studies later this year, and we remain on track to complete our NDA for the use of OPNT003 in opioid overdose for FDA review by the end of 2021. Opioid overdose continues to be a growing and devastating epidemic in need of effective treatment solutions. Opiant’s purpose – to develop new medicines to treat addictions and drug overdose – has never been more relevant.”

David O’Toole, Chief Financial Officer of Opiant, said:

“As we move into 2021, we maintain a strong cash position, driven by a focus on responsible cost containment, as well as continued royalties on net sales of NARCAN® Nasal Spray. We also locked in an attractive cost of financing with a convertible debt deal for up to $50 million, which will increase our financial flexibility as we continue to advance OPNT003 and build toward commercialization, if we decide to pursue that path alone.”

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

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