Ensysce Flat on Receiving Grant
Ensysce Biosciences, Inc. (NASDAQ:ENSC) shares were mostly unchanged Wednesday. The San Diego-based company, a clinical-stage pharmaceutical company developing innovative solutions for severe pain relief while reducing the potential for opioid abuse and overdose, today announced it was awarded the second $5.3-million installment of a $15-million, three-year grant from the National Institute on Drug Abuse (NIDA).
This continued support will accelerate the clinical and non-clinical development of PF614-MPAR, a next-generation opioid designed to offer powerful pain relief while dramatically reducing the risk of overdose.
PF614-MPAR, which has earned the FDA's prestigious Breakthrough Therapy designation, is uniquely engineered using Ensysce's proprietary TAAP™ (Trypsin-Activated Abuse Protection) and MPAR® (Multi-Pill Abuse Resistance) technologies. These platforms enable PF614-MPAR to maintain therapeutic efficacy while offering built-in overdose protection - even when doses exceed prescribed amounts, whether accidentally or intentionally.
The first year of NIDA funding, together with outside capital raised, enabled a series of promising clinical studies that validated PF614-MPAR's ability to prevent overdose. This next phase of funding which began on June 1, will focus on optimizing the final drug formulation, undertaking further clinical evaluation while preparing to move to commercialization. Ensysce plans to engage with the FDA in the coming months to align on full development plans based on the robust data generated to date.
ENSC edged up half a cent to $2.30.
