Ensysce Biosciences Gets $14 Million Federal Grant for Continued Development of Potential Opioid With Overdose Protection -- Shares Soar Pre-Bell

09:08 AM EDT, 08/27/2024 (MT Newswires) -- Ensysce Biosciences (ENSC) said Tuesday that it has received a $14 million grant from the National Institutes of Health and National Institute on Drug Abuse to continue developing PF614-MPAR, an abuse-deterrent opioid with overdose protection.

PF614-MPAR received breakthrough therapy designation from the US Food and Drug Administration in January, the company said.

Ensysce said funding from the award will be available for three years, allowing for the completion of a phase 1b clinical trial aimed at expanding the product offering identified in a study conducted to verify the overdose protection of the Multi-Pill Abuse Resistance platform.

The funding adds to the two previous grants totaling more than $26 million for the initial work on the MPAR and opioid use disorder programs, the company said.

Shares of Ensysce Biosciences were up 60% in recent premarket activity on Tuesday.

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