OPNT - Opiant denies licensing deal for opioid overdose therapy

Update: Opiant Pharmaceuticals (NASDAQ:OPNT) has advised readers to disregard the news release issued via PR Newswire on Thursday about the purported licensing deal to market the company’s opioid overdose therapy OPNT003 in the EU and U.K. “This release contains incorrect information,” the PR Newswire said. Meanwhile, Opiant (OPNT) shares continue to remain on hold for trading pending news. Previously: Santa Monica, California-based Opiant Pharmaceuticals (OPNT) has entered into a licensing deal with U.K.-based rival Hikma Pharmaceuticals (OTCPK:HKMPF) (OTCPK:HKMPY) for OPNT003, an experimental therapy targeted at Opioid overdose, the companies announced on Friday. Per the terms of the exclusive license agreement, Hikma (OTCPK:HKMPF) is responsible for getting EU approval for the drug and Opiant (OPNT) has rights to supply the product to the EU and U.K. markets, where Hikma (OTCPK:HKMPF) will have exclusive commercial rights for the drug. In return, Opiant (OPNT) will receive $175 million upfront payment in addition to $50 million

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Opiant denies licensing deal for opioid overdose therapy