December 20, 2017 / 4:21 PM / a year ago

BUZZ-Opiant shares score gain on royalties for anti-opioid drug

** Shares of Opiant Pharmaceuticals Inc. leap 30.9 pct early Weds after co announces it will begin receiving royalty payments for nasal spray used to treat opioid overdoses

** Opiant will receive 90 pct of royalty and milestone payments for Narcan nasal spray in Q1 2018 from Adapt Pharma, marketing partner for the drug in the U.S. and Canada

** Concurrently, Opiant will pay reduced royalties of 10 pct to healthcare financing co SWK Holdings

** Opiant also in early stages of developing heroin vaccine, announced publication of pre-clinical data in Journal of Medicinal Chemistry

** It’s been a wild ride for OPNT in 2017 as the stock surged >800 pct into a Sept peak

** Shares have since lost just over half their value, though still up 323.6 pct YTD, well above the NYSE Arca Pharmaceutical Index’s 14 pct gain

** Among industry and market-cap peers, Catalyst Biosciences Inc up 24.7 pct YTD, Chiasma Inc down 14.9 pct and Novus Therapeutics Inc down 54.9 pct

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