FORM 4
[X] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

CRYSTAL ROGER		 2. Issuer Name and Ticker or Trading Symbol

OPIANT PHARMACEUTICALS, INC. [ OPNT ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    __X__ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chief Executive Officer
(Last)          (First)          (Middle)

C/O OPIANT PHARMACEUTICALS, INC., 233 WILSHIRE BLVD, SUITE 400		 3. Date of Earliest Transaction (MM/DD/YYYY)

3/2/2023
(Street)

SANTA MONICA, CA 90401
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
 6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 3/2/2023  D(1)  37438 D$20 37901 D  
Common Stock 3/2/2023  D(2)  37901 D$20 0 D  
Common Stock par value $0.001 3/2/2023  D(1)  5100 D$20 0 D  
Common Stock 3/2/2023  A(3)  6667 A$0 6667 D  
Common Stock 3/2/2023  D(4)  6667 D$20 0 D  

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)		2. Conversion or Exercise Price of Derivative Security3. Trans. Date3A. Deemed Execution Date, if any4. Trans. Code
(Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4)		8. Price of Derivative Security
(Instr. 5)		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4)11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Option $6.0 3/2/2023  D (5)    25000  12/31/2013 12/30/2023 Common Stock 25000.0 $0 0 D  
Option $5.0 3/2/2023  D (5)    150000  6/15/2014 6/14/2024 Common Stock 150000.0 $0 0 D  
Option $7.25 3/2/2023  D (5)    375000  10/27/2015 10/26/2025 Common Stock 375000.0 $0 0 D  
Option $6.0 3/2/2023  D (5)    25000  12/31/2013 12/30/2023 Common Stock 25000.0 $0 0 D  
Stock Option (right to buy) $14.62 3/2/2023  D (5)    13200   (5)1/14/2029 Common Stock 13200.0 $0 0 D  
Common Stock $13.6 3/2/2023  D (5)    27250   (5)1/7/2030 Common Stock 27250.0 $0 0 D  
Stock Option (right to buy) $12.15 3/2/2023  D (5)    31250   (5)1/26/2031 Common Stock 31250.0 $0 0 D  
Explanation of Responses:
(1) Disposed of pursuant to that certain Agreement and Plan of Merger between the Issuer, Indivior Inc., and Olive Acquisition Subsidiary, Inc., dated as of November 13, 2022 (the "Merger Agreement"), in exchange for a cash payment of $20.00 per share without interest thereon (the "Merger Consideration").
(2) Disposed of pursuant to the Merger Agreement in exchange for the Merger Consideration. The number of shares disposed of reflects 37,901 shares of Common Stock upon the acceleration of vesting of restricted stock units in accordance with the Merger Agreement.
(3) 6,667 shares are represented by performance stock units ("PSUs"), the vesting of which accelerated in accordance with the Merger Agreement. Each PSU represents the Reporting Person's right to receive one share of Common Stock of Issuer.
(4) Disposed of pursuant to the Merger Agreement in exchange for the Merger Consideration. The number of shares disposed of reflects 6,667 shares of Common Stock upon the acceleration of vesting of performance stock units in accordance with the Merger Agreement.
(5) The option was cancelled pursuant to the Merger Agreement, in exchange for a cash payment equal to (x) the difference between the Merger Consideration and the per share exercise price of the option, multiplied by (y) the number of disposed option shares.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director10% OwnerOfficerOther
CRYSTAL ROGER
C/O OPIANT PHARMACEUTICALS, INC.
233 WILSHIRE BLVD, SUITE 400
SANTA MONICA, CA 90401		XXChief Executive Officer
Signatures
/s/ Roger Crystal3/3/2023
**Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
*If the form is filed by more than one reporting person, see Instruction 4(b)(v).
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note:File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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