Enscysce Falls on Test Results
Ensysce Biosciences, Inc. (NASDAQ:ENSC) shares moved downward early Thursday, as the clinical-stage biotech company applying transformative chemistry to improve prescription drug safety focused on reducing abuse and overdose, announced the initiation of PF614-104, 'A Randomized, Double-blind, Placebo and Active-Controlled, Crossover Study to Evaluate the Oral Abuse Potential of PF614 Compared with Oxycodone Immediate-Release Tablets, and Placebo in Non-Dependent Recreational Opioid Users.'
The study is being conducted by Dr. Brad Vince, from Dr. Vince Clinical Research (DVCR), at one of the most innovative and technologically advanced clinical pharmacology units, newly constructed and recently opened in Overland Park, Kansas. This study is designed to test and confirm that PF614 will have less potential for drug liking versus immediate release oxycodone at equivalent drug dosages.
Dr. Bill Schmidt, Chief Medical Officer of Ensysce, commented, 'This is the second Human Abuse Potential (HAP) study of PF614 to be conducted this year demonstrating the Company's rapid advancement in the development of our lead drug candidate. Such studies are critical for the abuse deterrent labeling of any new opioid drug product and this study serves as an important step in establishing that PF614 is differentiated from current products on the market.
Ensysce Biosciences is a clinical-stage biotech company using its proprietary technology platforms to develop safer prescription drugs. Leveraging its Trypsin Activated Abuse Protection (TAAPTM) and Multi-Pill Abuse Resistance (MPAR) platforms, the Company is in the process of developing a unique, tamper-proof treatment option for pain that minimizes the risk of both drug abuse and overdose.
ENSC shares dropped a penny, or 6.1%, to 22.3 cents.
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