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Opiant Pharmaceuticals (NASDAQ: OPNT) Enters Into Definitive Agreement to be Acquired by Indivior for $145 Million

By: Spotlight Growth

Opiant Pharmaceuticals, Inc. (NASDAQ: OPNT) is engaged as a specialty pharmaceutical company, which is focused on developing treatments for drug overdoses and addictions. Shares of the specialty pharma company are skyrocketing 113% through early trading on Monday, November 14, 2022. Over the past three months, Opiant Pharmaceuticals has seen average daily volume of 14,280 shares. However, volume of 1.01 million shares or dollar volume of around $20.44 million, has already exchanged hands through early trading.

Shares of Opiant Pharmaceuticals are soaring after the company announced that it has entered into a definitive agreement to be acquired by Indivior for $145 million or $20.00 per share and a contingent value right (CVR) of up to $8.00 per share for certain milestones. The transaction is estimated to close during the first quarter of 2023 and is subject to customary closing conditions, including regulatory clearance and shareholder approval.

The $2.00 per share CVR will be payable if the OPNT003 drug candidate achieves net revenues within any of the thresholds during any four consecutive quarterly periods before reaching the seventh anniversary of U.S. commercial launch: a. $225 million, b. $300 million, c. $325 million. The remaining $2.00 per share CVR would be payable if OPNT004 achieves net revenue of $250 million during any four consecutive quarterly period before the third anniversary of U.S. commercial launch.

The acquisition comes as Indivior seeks to bolster its addiction treatment business. Once the acquisition closes, Indivior will own a robust pipeline of anti-addiction and overdose treatments, including NARCAN, the go-to treatment for overdoses. Opiant also has three key drug candidates in its pipeline: OPNT003, OPNT002, and OPNT004.

OPNT003 is being built as an opioid overdose treatment, which has shown clinical abilities to counter synthetic opioids like fentanyl. OPNT002 is currently undergoing a Phase II clinical trial for the treatment of alcohol cravings and drinking. OPNT004 is a CB-1 antagonist that is currently undergoing preclinical development as a potential treatment for acute cannabinoid overdose (ACO).

“Our work in combatting addiction has never been more critical, with overdose deaths in the United States occurring at near record numbers1,” said Mark Crossley, Chief Executive Officer of Indivior. “Opiant’s portfolio of product candidates is an excellent strategic fit that diversifies and strengthens our offerings, while Indivior’s strong commercial capabilities are expected to propel a combined product pipeline with the potential to help patients along a continuum from substance use disorder and rescue to recovery. The combination with Opiant will provide Indivior with one of the most comprehensive and relevant treatment platforms to address the ongoing U.S. opioid and overdose epidemic and extends our leadership position in addiction treatments. We look forward to working with Opiant’s talented team as we undertake our shared mission of changing patients’ lives through access to life-transforming treatment for substance use disorders.”

Disclosure: No position. Spotlight Growth has no relationships with any of the companies mentioned in this article and did not receive payment in any form for its creation. This is an opinion article and is not meant to be financial advise. We are not broker-dealers or investment professionals. Please conduct your own due diligence. For more information on our disclosures, please visit: https://spotlightgrowth.com/disclosures/

The post Opiant Pharmaceuticals (NASDAQ: OPNT) Enters Into Definitive Agreement to be Acquired by Indivior for $145 Million appeared first on Spotlight Growth.

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