Advertisement
Singapore markets closed
  • Straits Times Index

    3,290.70
    +24.75 (+0.76%)
     
  • Nikkei

    38,229.11
    +155.13 (+0.41%)
     
  • Hang Seng

    18,963.68
    +425.87 (+2.30%)
     
  • FTSE 100

    8,433.76
    +52.41 (+0.63%)
     
  • Bitcoin USD

    60,866.07
    -1,981.66 (-3.15%)
     
  • CMC Crypto 200

    1,261.65
    -96.36 (-7.10%)
     
  • S&P 500

    5,222.68
    +8.60 (+0.16%)
     
  • Dow

    39,512.84
    +125.08 (+0.32%)
     
  • Nasdaq

    16,340.87
    -5.40 (-0.03%)
     
  • Gold

    2,366.90
    +26.60 (+1.14%)
     
  • Crude Oil

    78.20
    -1.06 (-1.34%)
     
  • 10-Yr Bond

    4.5040
    +0.0550 (+1.24%)
     
  • FTSE Bursa Malaysia

    1,600.67
    -0.55 (-0.03%)
     
  • Jakarta Composite Index

    7,088.79
    -34.81 (-0.49%)
     
  • PSE Index

    6,511.93
    -30.53 (-0.47%)
     

Opiant Pharmaceuticals Stock Jolted by 'Fake' Hikma News

By Sam Boughedda

Investing.com -- Opiant Pharmaceuticals Inc (NASDAQ:OPNT) stock jumped 29% Friday and swiftly sank after a discredited announcement, which appeared as a fake news release.

The companies named in the release immediately denied it. The "unauthorized" statement said Opiant and Hikma Pharmaceuticals (OTC:HKMPY) were in a $225 million commercialization and license agreement for an opiod overdose treatment.

PR Newswire, which distributed the press release, also released a disregard note, saying that the release was "unauthorized by all parties mentioned and appears to be fraudulent."

ADVERTISEMENT

Opiant and Hikma have confirmed they are not involved in any discussions.

"Hikma Pharmaceuticals PLC (Hikma) confirms that it has not entered into any transaction with Opiant Pharmaceuticals, contrary to a PR Newswire announcement issued today," Hikma said.

Opiant said they were "the subject of a fake news release," and it had "no knowledge of the press release issued by Cision PR Newswire, and it is fake."

The denials have resulted in a sharp fall for Opiant stock, which is now up just 4.8% from Thursday's close.

Related Articles

Opiant Pharmaceuticals Stock Jolted by 'Fake' Hikma News

CNH Industrial sells Raven's speciality film division for $350 million

Musk told banks he will rein in Twitter pay, make money from tweets -sources