Opiant Pharmaceuticals Inc. (OPNT)

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On February 8, 2018, Opiant Pharmaceuticals, Inc., a Delaware corporation (the “Company”), issued a press release announcing that it will record a total of approximately $11.7 million in royalty and milestone payments for the five-month period ended December 31, 2017 related to full-year 2017 sales of NARCAN® Nasal Spray (“NARCAN”) for opioid overdose by the Company’s commercial partner, Adapt Pharma Operations Limited (“Adapt Pharma”). Going forward, the Company will receive 90% of royalty and milestone payments related to NARCAN sales directly from Adapt Pharma, with its royalty and milestone payment obligations to SWK Funding LLC (“SWK”) being correspondingly reduced to 10%, as SWK has been paid $26.25 million per the terms of that certain Purchase and Sale Agreement, dated as of December 13, 2016, by and between the Company and SWK.