Ensysce Biosciences shares are trading higher after the company received a $14 million multi-year grant from the NIH for the continued development of its PF614-MPAR, an abuse-deterrent opioid with overdose protection.
Portfolio Pulse from Benzinga Newsdesk
Ensysce Biosciences shares rose following a $14 million multi-year grant from the NIH to support the development of its abuse-deterrent opioid, PF614-MPAR.
August 27, 2024 | 12:10 pm
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Ensysce Biosciences received a $14 million grant from the NIH to develop its abuse-deterrent opioid, PF614-MPAR, boosting its stock price.
The $14 million grant from the NIH is a significant financial boost for Ensysce Biosciences, supporting the development of its innovative opioid product. This news likely increases investor confidence, leading to a rise in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100