Opiant Pharmaceuticals Inc OPNT spiked 46 percent Thursday when President Donald Trump declared a crackdown on opioid abuse.
“We’re going to be spending lots of money on coming up with a non-addictive solutions,” Trump said during a press conference.
The company develops opioid antagonists to treat substance abuse and addiction, including NARCAN Nasal Spray, the first and only Food and Drug Administration approved spray to reverse opioid overdoses.
Opiant also produces a heroin vaccine and a treatment for Cocaine Use Disorder, lending it deeper exposure to the government’s anti-drug campaign.
Trump’s commitment to combat substance abuse extends to both heroin and cocaine.
The new national circumstances will be a boon for a stock that, until July, never traded above $10. It had a strong run in the last quarter, hit an all-time high of $51.90, and now trades up 672 percent at a rate of $40.82.
Opiant closed Thursday's regular session at $40.15, up 35.6 percent on the day.
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