Ensysce Biosciences rises on US government grant for its pain relief drug
** Shares of drug developer Ensysce Biosciences ENSC.O rise 63.6% to 71 cents premarket
** Co says it has received a $14 mln multi-year grant from the National Institutes of Health and National Institute on Drug Abuse for the continued development of PF614-MPAR, an abuse-deterrent opioid with overdose protection
** Funding from this award will be available over a period of about three years, allowing for the completion of an early-stage trial on the drug
** With this funding, adding to the two prior grants of over $26 mln, Ensysce intends to quickly drive PF614-MPAR through clinical development, co says
** The drug is designed to provide optimal pain relief at prescribed doses, yet limit accidental or intentional overdose by 'shutting down' opioid release if too much active drug is consumed - ENSC
** Up to last close, stock down 58.7% YTD
Reporting by Sneha S K
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
