Opiant Reports Inducement Grants Under Nasdaq Listing Rule 5635(c)(4)
December 20 2021 - 4:05PM
Opiant Pharmaceuticals, Inc. (“Opiant” or “Company”) (NASDAQ:
OPNT), a specialty pharmaceutical company developing medicines to
treat addictions and drug overdose, today announced the
Compensation Committee of the Company’s Board of Directors has
approved the grant of restricted stock units (“RSU”) covering an
aggregate of 31,500 shares of common stock to six hired employees,
pursuant to the Company’s 2021 Inducement Equity Incentive Plan
(“Inducement Plan”). The RSUs were granted as material inducements
to employment in accordance with Nasdaq Listing Rule 5635(c)(4).
Each RSU will vest over a 4-year period, with 25% of the shares
vesting on the one-year anniversary of the date of grant, and
thereafter an additional 25% of the shares vesting on each
succeeding one-year anniversary of the date of grant, subject to
such employee’s continued employment with Opiant on such vesting
dates. Each RSU is subject to the terms and conditions of the
Inducement Plan and the terms and conditions of an RSU agreement
covering the grant.
About Opiant Pharmaceuticals,
Inc. Opiant Pharmaceuticals, Inc., the company that
developed NARCAN® Nasal Spray, is building a
leading franchise of new medicines to combat addictions
and drug overdose. For more information visit: www.opiant.com.
Forward-Looking StatementsThis press release
contains forward-looking statements, including statements for
OPNT003’s potential as an opioid overdose reversal agent. These
statements relate to future events or our future financial
performance and involve known and unknown risks, uncertainties and
other factors that may cause our or our industry’s actual results,
levels of activity, performance or achievements to be materially
different from any future results, levels of activity, performance
or achievements expressed, implied or inferred by these
forward-looking statements, and among other things, our ability to
maintain cash balances and successfully commercialize or partner
our product candidates currently under development. In some cases,
you can identify forward-looking statements by terminology such as
“may,” “will,” “should,” “could,” “would,” “expects,” “plans,”
“intends,” “anticipates,” “believes,” “estimates,” “predicts,”
“projects,” “potential,” or “continue” or the negative of such
terms and other comparable terminology. These statements are only
predictions based on our current expectations and projections about
future events. You should not place undue reliance on these
statements. Actual events or results may differ materially. In
evaluating these statements, you should specifically consider
various factors. Additional factors that could materially affect
actual results can be found in our Form 10-K for the year
ended December 31, 2020, filed with the Securities and
Exchange Commission on March 4, 2021, including under the
caption titled “Risk Factors.” These and other factors may
cause our actual results to differ materially from any
forward-looking statement. We undertake no obligation to update any
of the forward-looking statements after the date of this press
release to conform those statements to reflect the occurrence of
unanticipated events, except as required by applicable law.
For Media and Investor Inquiries:Ben Atkins, Opiant(310)
598-5410batkins@opiant.com
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