Why Opiant Pharmaceuticals Shares Are Soaring Today

Opiant Pharmaceuticals Inc OPNT announced topline results from a pharmacodynamic (PD) study for OPNT003, nasal nalmefene for opioid overdose.
This crossover study conducted in healthy volunteers compared 3 mg nasal nalmefene hydrochloride with 4 mg nasal naloxone hydrochloride in reversing respiratory depression produced by remifentanil, a synthetic opioid.
The two study drugs were assessed by measuring changes in minute ventilation following administration of the respective study drug, with the primary endpoint at five minutes post-administration.
Related: Opiant's Multi-Dose Nasal Nalmefene Shows Safety, Tolerability In Opioid Overdose.
A preliminary analysis of the 50 subjects completing the study found that treatment with OPNT003 produced nearly twice the reversal of respiratory depression than produced by nasal naloxone at five minutes.
The increases in minute ventilation were 5.745 L/min and 3.011 L/min, with nalmefene and naloxone, respectively.
OPNT003 met the primary endpoint of non-inferiority to nasal naloxone.
OPNT003, nasal nalmefene, is developed using a 505(b)(2) pathway. The Company expects to complete the U.S. marketing application filing in 2H of 2022.
Price Action: OPNT shares closed 14.8% higher at $22.14 during premarket trading on the last check Thursday.