Ensysce Biosciences Shares Up 39% on FDA Breakthrough Designation for PF614-MPAR

By Josh Beckerman

Ensysce Biosciences shares rose 39% Tuesday as the U.S. Food and Drug Administration granted Breakthrough Therapy Designation for its PF614-MPAR opioid.

The stock was recently at $1.58 and is down about 80% over the last 52 weeks. Volume was more than 38 million shares, compared with a 65-day average of 194,281.

Ensysce is developing opioids to treat pain using technology intended to prevent drug abuse and overdose. The company previously reported that a Phase 1 study showed PF614-MPAR delivered oxycodone appropriately when one or two doses were consumed yet reduced opioid delivery when three or more doses were taken orally, representing a simulated overdose situation.

Write to Josh Beckerman at [e-mail]

(END) Dow Jones Newswires

01-23-24 1509ET