Opiant Pharmaceuticals (NASDAQ: OPNT) stock surged 13.93% to $9.65 in the pre-market trading after the company reported that the Biomedical Applied Research and Development Authority, part of the Office of the Assistant Secretary for Preparedness and Response in the United States, has an additional contribution of up to $3.5 million.
To advance OPNT003, nasal nalmefene, for opioid overdose, Department of Health and Human Services. The contract adjustment raises the BARDA contract’s gross future value to $8.1 million.
In addition to the $7.4 million grant, Opiant received from the National Institute on Drug Abuse, an earlier award from BARDA of up to $4.6 million will also support the clinical development and U.S. regulatory submission OPNT003.
BARDA’s additional support will help fund a planned study of the pharmacodynamic systems in healthy volunteers and research related to Aptar Pharma’s Unit Dose System.