Why Ensysce Biosciences Stock Is Exploding Higher During Wednesday's Session

Ensysce Biosciences Inc ENSC shares are trading higher by 21.81% to $0.82 Wednesday after the company announced initiation of the final stage of its opioid overdose protection Phase 1 study.

What Else?

Ensysce Biosciences says this key study is being conducted in healthy subjects by Dr. Maria Bermudez MD, at Quotient Sciences, Miami, Florida.

PF614, a TAAPTM prodrug of oxycodone, has a number of safety features designed to reduce abuse, including its extended-release profile that has been shown to reduce ‘drug liking' in recreational drug users.

Meanwhile, PF614-MPAR is designed to provide optimal pain relief at prescribed doses.

Dr. Lynn Kirkpatrick, CEO of Ensysce, commented, "We are committed to improving the lives of patients suffering from severe pain by providing safe and efficacious products. We believe that TAAPTM and MPARTM can be built into many medications and our initial focus on pain is just one step toward transforming several drug classes."

See Also: Why Reed's Shares Are Nosediving

"PF614-MPAR is an opioid pain product designed to provide two layers of safety, one to reduce abuse and the second to prevent overdose. We believe PF614-MPAR may be the first opioid product to prevent all four common methods of opioid abuse - chewing, snorting, injecting and oral overdose. The current study is aimed at confirming that our approach to limiting opioid release with our combination oxycodone product, PF614-MPAR, may save lives," Kirkpatrick stated.

According to data from Benzinga Pro, ENSC has a 52-week high of $47.00 and a 52-week low of $0.59.

Market News and Data brought to you by Benzinga APIs
Posted In: NewsPenny Stockswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!