Ensysce Biosciences, Inc. (ENSC) is one of the leading clinical stage biopharmaceutical company. The company primarily focuses on the development of prescription drugs. The company is developing strong and tamper-resistant opioids via using the platforms of Multi-Pill Abuse Resistance (MPAR) and Trypsin-Activated Abuse Protection (TAAP). The opioids can prevent the drug overdose and its abuse. The products have properties to relieve severe pain.
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The price of ENSC stock during the regular trading of December 21, 2021 with a remarkable rise of 12.11% was $3.24. At last check in the pre market on December 22, 2021, the stock was down by 3.4%.
Events and Happenings
On December 15, 2021, ENSC reported that the first patients for the Phase 1 clinical study of PF614-MPAR had been enrolled. PF614-MPAR was the pioneer in using the ENSC’s MPAR program used to lessen the opioid overdosing.
On November 30, 2021, ENSC reported the accomplishment of a positive safety evaluation and registration of the last unit of subjects at the maximum dosage level in the ENSC’s clinical study of its TAAP Opioid, PF614.
Key Financials
On November 15, 2021, ENSC announced the financial outcomes for the third quarter of 2021 ended September 30, 2021. Some of the key updated are as follows
Federal Grant
The federal grants fund was reported to be $1.2 million for the third quarter of 2021 against $0.8 million for the same period of 2020.
Net Loss
Net loss for Q3 2021 was $17.2 million in comparison to the same period of 2020 when net income was $1.6 million.
Total Current Assets
Total current assets of the company for third quarter 2021 were $8.9 million.
On November 08, 2021, ENSC reported the completion of its private placement under a securities purchase agreement with the investors for convertible notes and warrants exercisable for company’s common stock. The aggregate investment done was of $15 million. On September 08, 2021 ENSC reported the enrollment of first unit of subjects in a study of PF614-102. The study was performed to evaluate the pharmacokinetics and safety of Oral Dose of PF614.
Conclusion
The price of ENSC stock is 133% increased as compared to the last month. But in the pre market, the stock is on a gradual declining verge due to uncertain reasons. The company is ensuring to bring potential investors to its path with the positive drug results. The analysts are suggesting that the company’s stock will once again surge in the coming days.
