Business
Ensysce Biosciences Reports First Quarter 2023 Financial Results
Recently Completed Successful Ground-Breaking Study on Overdose ProtectionRecently Completed $7 Million Public OfferingSAN DIEGO, CA / ACCESSWIRE / May 15,
About this update from Ensysce Biosciences, Inc.
[{"type":"text","content":"Recently Completed Successful Ground-Breaking Study on Overdose ProtectionRecently Completed $7 Million Public OfferingSAN DIEGO, CA / ACCESSWIRE / May 15, 2023 / Ensysce Biosciences, Inc. (\"Ensysce\" or the \"Company\") (NASDAQ:ENSC), a clinical-stage company applying transformative chemistry to improve prescription drug safety, today reported financial results for the first quarter of 2023 following the recently completed, successful PF614-MPAR-101 study.Dr. Lynn Kirkpatrick, Chief Executive Officer of Ensysce, commented, \"As evident in our recently announced completion of PF614-MPAR-101, a clinical study examining the Company's first pain medication with overdose protection, PF614-MPAR, we remain focused on advancing our lead products. The recently completed study serves as a major milestone that brings us one step closer to a first-in-class agent with overdose protection. PF614-MPAR is designed to treat severe pain while reducing the ability to abuse for recreational purposes, with added protection from overdose. Our achievements to date are directly in line with our expectations and we are encouraged by the recent May 2023 financing to advance our development of PF614 and PF614-MPAR.\"TAAPTM (Opioid Abuse Deterrent Program) UpdatesOur lead program, PF614 is a Trypsin-Activated Abuse Protection (TAAPTM) extended-release oxycodone and a potential ‘next generation' analgesic for severe pain designed to reduce abuse. The Company's TAAPTM technology is designed to control release, be highly resistant to tampering, and reduce intranasal and intravenous abuse through a unique chemical modification. The TAAPTM modification of PF614 makes it inactive until it is swallowed, following which it is activated or ‘turned on' to release oxycodone by the body's owntrypsin, an enzyme in the small intestine. Ensysce conducted three clinical trials over the last year and has a body of evidence showing that PF614 works as designed and is safe. We believe these trials demonstrate that:PF614 is ‘bioequivalent' to OxyContin, meaning it could replace OxyContin in the marketplace, based on our positive bioequivalence study;PF614 is less liked by recreational drug users based on our two Human Abuse Potential studies of intranasal and oral administration, so it is less likely to be abused; andPF614 has a good safety profile as demonstrated in these ...