NASDAQ:ENSC
READ THE FULL ENSC RESEARCH REPORT
Ensysce Biosciences (NASDAQ:ENSC) announced that it has published a manuscript in the peer-reviewed medical journal Clinical and Translational Science. The manuscript highlighted its PF614 drug, and the testing done that compared it to OxyContin. The tests showed that PF614, which is abuse resistant as we’ve described in detail in previous reports, has comparable pain relief properties as OxyContin, while also having the additional benefit of having a longer half-life.
As a reminder, these tests have shown that PF614 can provide the much-needed pain relief that is currently available through the highly abused oxycodone, while having abuse resistant properties and lasting longer. We are again reiterating our belief that the treatments being developed by Ensysce will be game changers in the pain relief market and again suggest that investors take a strong look at ENSC.
In an effort to solidify the company’s cash position heading into the crucial Phase 3 trial of PF614, the company announced that it had entered into an agreement for the immediate exercise of certain outstanding warrants that will result in the company bolstering its cash balance by approximately $4.7 million, minus fees associated with the action. In consideration for the immediate exercise of warrants, Ensysce is issuing new unregistered warrants to purchase up to 7.2 million shares of common stock at an exercise price of $1.06.
We applaud this move as it gives the company the cash it needs to both solidify its balance sheet and fund the upcoming Phase 3 trial.
Ensysce Biosciences continues to be one of the companies that we cover that we believe most of America would hope is successful and one we are becoming more convinced will achieve its goals. The opioid crisis remains a plague on the American public and is destroying families and entire communities. The National Institute on Drug Abuse reported more than 107,000 overdose deaths in 2022—and that doesn’t count the millions of family members and friends impacted by those deaths. Ensysce has extremely promising technology in the form of PF614 and PF614-MPAR that are abuse resistant, while still providing the much-needed pain relief that many Americans need with a longer lasting dose than its bioequivalent OxyContin.
We’ve talked about PF614, but the company is also developing PF614-MPAR, which has been shown in testing to have the potential to provide much needed pain relief to patients but provides protections against taking too many pills, which often leads to debilitating addiction. The technology involved causes the drug to become inactive when dosing requirements are exceeded—greatly diminishing the “incentive” patients may have to take more than the prescribed dose.
Our confidence in the ultimate approval of these important drugs continues to grow as the company recently added the BTD designation for PF614-MPAR to the Fast Track designation already received for PF614 and continues to obtain the financing needed, as noted above, to continue the testing process. Events such as the BTD designation can happen quickly and without notice, illustrating why we have been suggesting investors look into ENSC before these events occur. Major tests are coming in the not-to-distant future, and we believe, based on the data we’ve seen from earlier tests, that the results will be quite positive and propel the stock higher.
SUBSCRIBE TO ZACKS SMALL CAP RESEARCH to receive our articles and reports emailed directly to you each morning. Please visit our website for additional information on Zacks SCR.
DISCLOSURE: Zacks SCR has received compensation from the issuer directly, from an investment manager, or from an investor relations consulting firm, engaged by the issuer, for providing research coverage for a period of no less than one year. Research articles, as seen here, are part of the service Zacks SCR provides and Zacks SCR receives quarterly payments totaling a maximum fee of up to $40,000 annually for these services provided to or regarding the issuer. Full Disclaimer HERE.
