Ensysce Biosciences shares are trading higher after the company announced FDA Breakthrough Therapy Designation for PF614-MPAR.
Portfolio Pulse from Benzinga Newsdesk
Ensysce Biosciences' stock is trading higher following the announcement that the FDA has granted Breakthrough Therapy Designation to its drug PF614-MPAR.
January 23, 2024 | 8:30 pm
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Ensysce Biosciences' stock price is expected to rise in the short term due to the FDA's Breakthrough Therapy Designation for PF614-MPAR.
The FDA's Breakthrough Therapy Designation is a significant positive development for Ensysce Biosciences, indicating that PF614-MPAR has the potential to address a serious condition more effectively than existing therapies. This designation can lead to expedited development and review processes, which may enhance investor optimism about the drug's prospects and the company's future performance. As a result, the stock price is likely to experience upward pressure in the short term.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100