Opiant Pharmaceuticals (OPNT) Tops Q1 EPS by 5c, Revenues Beat

Opiant Pharmaceuticals (NASDAQ: OPNT) reported Q1 EPS of ($0.66), $0.05 better than the analyst estimate of ($0.71). Revenue for the quarter came in at $6.39 million versus the consensus estimate of $5.29 million.

Financial Highlights

• Q1 revenues of $6.4 million driven by royalties from the sale of NARCAN® Nasal Spray (“NARCAN®”)
• As of March 31, 2021, $50.6 million in cash, cash equivalents, and marketable securities

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

“Opiant had a strong start to 2021, including the commencement of our confirmatory PK and PD studies for OPNT003, nasal nalmefene, for opioid overdose. Our comprehensive development of OPNT003 is indicative of our firm commitment to delivering new medicines to save lives from addictions and drug overdose and support public health in the face of a worsening drug overdose crisis driven primarily by opioids. We believe OPNT003 may be particularly effective for the treatment of overdoses from synthetic opioids, like fentanyl, which is the leading cause of drug overdose death in America.”

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

“We remain in a strong financial position to support our ongoing drug development activities and clinical studies, as well as to ramp up pre-commercial efforts for our lead program, OPNT003.”

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

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