Ensysce Biosciences rises on 'breakthrough therapy' tag for its pain relief drug

Ensysce Biosciences

23/01/2024 14:03

** Shares of drug developer Ensysce Biosciences  ENSC.O 
rise 27.1% to $1.45 premarket   
    ** Co says it has been granted "breakthrough therapy"
designation from U.S. FDA for its experimental pain relief drug 
    ** "Breakthrough therapy" tag is meant to speed up the
development and review of drugs to treat a serious condition or
unmet medical need
     ** The drug is an opioid pain killer that is designed to
provide optimal pain relief and also limit accidental or
intentional overdose by reducing opioid release if too much
active drug is consumed 
    ** ENSC received the tag based on results from an
early-stage study where the drug limited the effect of opioid
release if more than two doses are taken simultaneously
    ** Shares of the company have fallen 86.6% in the last 12
months 
    

 (Reporting by Sneha S K)
 ((Sneha.SK@thomsonreuters.com;))