Medical Device Design Proposal To Nasdaq Listed Biotech Company Hopes To Stop Opioid Overdose Deaths

AUSTIN, Texas, Feb. 20, 2019 (GLOBE NEWSWIRE) -- We The Shareholders, LLC is announcing that beginning today Opiant Pharmaceuticals, Inc. verified shareholders will be able to sign the world's first shareholder petition. This petition is viewable online here and can be read below:

Open Letter

To Dr. Roger Crystal, CEO of Opiant Pharmaceuticals:

As the company which developed NARCAN ^® spray, Opiant has a history of creating impactful new opioid reversal drug delivery systems:

Our strategy is to develop pharmacological treatments for substance use, addictive and eating disorders based on our expertise using opioid antagonists. (2017 annual report)

To further this strategy, this shareholder petition suggests the following:

Research the creation of a medical device which automatically administers an opioid antagonist for FDA approval.

Said medical device would rely on a pulse oximeter. If the pulse oximeter detected a dropping level of oxygen concentration in the blood indicative of hypoventilation from an overdose, it would automatically administer an opioid antagonist. Such an oximeter reading could be taken at the nose.

An automated spray could be delivered intranasal upon the receipt of low oxygen readings using the latest in micro-pump technology. The precise method of automated drug delivery would need to be duly researched.

In such a manner, opioid overdoses potentially could be reversed without anyone around to administer Narcan ^® spray treatment or the victim being conscious. While new medical device design and development is expensive, lengthy and fraught with risks, such a device could potentially garner FDA breakthrough designation and it’s conferring advantages. It could also be compact, self contained, and fitted upon the nose – perhaps as a ring.

I'm asking if you could kindly provide shareholders with guidance on pipeline R&D efforts in your next correspondence with them and your thoughts on this suggestion.

Sincerely,
Mark Biwojno

           

About WeTheShareholders.com:

Is an Austin, TX based financial technology company founded in 2018 which aggregates business intelligence from shareholders of public companies. The company connects previously unutilized shareholders for deep business intelligence insights via crowdsourcing, curating the top insights for transformative business change. It then composes a short, constructive open letter to management outlining the insights.

By integrating with thousands of financial institutions, it enables verified shareholders to instantly sign these open letters to management in support, “YAY” or against, “NAY”. It calls this a “shareholder petition”. This is not an official shareholder proxy vote or shareholder proposal. It is an innovation which combines an open letter to management outlining a proposal and electronic signatures of verified shareholders. These shareholder signatures are then tallied in real time to give a public view of overarching shareholder sentiments with regard to a particular proposal.

The highest in editorial standards ensure that all proposals equitably balance the interests of organizational stakeholders in a fair, positive sum manner. The company seeks to elevate and support business leaders of all levels. The company has setup a pateron account for engaged citizens to support its project.

The company does not know whether any specific company management will take any action whatsoever regarding any specific proposal it publishes. The company does not provide investment advice, nor should any of its communications be regarded as a solicitation to buy or sell any security.

Press Contact:
Mark Biwojno
(512) 777 – 0202
mark@wetheshareholders.com