Lightlake Therapeutics, Inc.
(OTCQB: LLTP) is a specialty pharmaceutical company engaged in the development
of pharmacological treatments for substance abuse, addiction and eating
disorders. In December 2014, the company entered into a global licensing deal
with a subsidiary of Adapt Pharma Limited to develop and commercialize
Lightlake’s innovative intranasal naloxone opioid overdose reversal treatment,
NARCAN® Nasal Spray. As per the terms of this deal, Lightlake could receive
potential development and sales milestone payments totaling more than $55
million – including a $2 million milestone payment following FDA approval and a
$2.5 million milestone payment following the first commercial sale of NARCAN in
the U.S. – in addition to double-digit royalty fees.
In November 2015, NARCAN was
approved by the U.S. Food and Drug Administration for the emergency treatment
of known or suspected opioid overdose. This approval marked the first time that
naloxone –the trusted choice of healthcare providers to reverse the effects of
opioid overdose for more than 40 years – was approved for distribution in the
U.S. in a non-injection delivery method. Since its approval, momentum to
increase access to naloxone has been on the rise. Late last year, President
Obama included a call to make naloxone more readily available as part of a
major initiative to address the nation’s opioid epidemic.
The commercial potential of
NARCAN, to be marketed by Adapt, is expansive. In 2013, opioid overdose related
deaths claimed nearly 24,500 lives in the U.S., accounting for roughly 52
percent of all drug overdose deaths, according to the Centers for Disease
Control and Prevention. In total, prescription opioid abuse costs accounted for
approximately $55.7 billion in 2007, with about 45 percent of all spending
attributed to healthcare expenses.
In addition to its efforts to
address the domestic opioid crisis, Lightlake has also completed a phase II
clinical trial for its naloxone nasal spray to treat binge eating disorder
(BED), a condition resulting in a lack of control when eating foods that are
high in sugar, fat or salt. According to clinical data, the company’s nasal
spray is well-suited to treating BED because it remains in the brain for two
hours – the duration of a typical binge – without inducing negative side
effects, such as a loss of interest in exercise, which are common with
long-lasting opioid antagonists like naltrexone and nalmefene. Lightlake has
also announced plans to conduct a Cocaine Use Disorder study in collaboration
with the National Institute of Drug Abuse in the future.
With President Obama allocating
$133 million toward the opioid epidemic in 2016 and guidelines from the
Department of Health suggesting that naloxone could eventually become a
standard script accompanying the more than 240 million opioid prescriptions
written every year in the U.S., Lightlake, through its licensing deal with
Adapt, is well positioned to record strong financial growth in the months to
come. Look for the company to benefit from royalties stemming from this
licensing agreement as it continues to advance its promising clinical pipeline
targeting the treatment of BED and cocaine use disorder.
For more information, visit
www.lightlaketherapeutics.com
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