Opiant Pharmaceuticals Announces Contract Extension of Second Tranche of Approximately $2.4 Million from Biomedical Advanced Research and Development Authority for Development of OPNT003, Nasal Nalmefene, for the Treatment of Opioid Overdose
SANTA MONICA, Calif., Dec. 12, 2019 (GLOBE NEWSWIRE) — Opiant Pharmaceuticals, Inc. (“Opiant”) (OPNT), a specialty pharmaceutical company developing medicines to treat addictions and drug overdose, today announced that it has been awarded the second tranche of approximately $2.4 million from the total contract award of up to a maximum of approximately $4.6 million from the Biomedical Advanced Research and Development Authority (BARDA), part of the U.S. Health and Human Services Office of the Assistant Secretary for Preparedness and Response, to accelerate Opiant’s development of OPNT003, nasal nalmefene, a potent, long-acting opioid antagonist currently in development for the treatment of opioid overdose.
Paul Arndt is an investor relations and corporate communications executive with 20 years of corporate and agency experience. Previously, Paul was Sr. Manager of Investor Relations for Spectrum Pharmaceuticals during which time the company saw a more than 23-fold growth in its market capitalization, an increase in sell-side analyst coverage from two to seven and an increase in institutional ownership from 25% to more than 70% through proactive investor targeting. Prior to Spectrum, he led investor relations and corporate communications for NeoPharm, Inc., where he was responsible for executing long-term investor, corporate, employee, and media relations programs designed to develop and refine core messages to optimize value creation, contributing to a more than 500% increase in market capitalization and a doubling of analyst coverage through several corporate events. Paul also served as an IR consultant at Hill & Knowlton and David A. Noyes & Company. Paul earned his MBA from the Lake Forest Graduate School of Management in Chicago and his Bachelor of Arts in Communications from Quincy University in Quincy, Illinois. He is also a NIRI-National and NIRI-Chicago chapter member, and a recent Officer of the NIRI-Orange County, California chapter.