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Ensysce Biosciences Stock Surges 60%

Shares of Ensysce Biosciences, Inc. (ENSC) are surging over 60% on Wednesday morning after the company announced initiation of final stage of opioid overdose protection phase 1 study.

ENSC is currently trading at $1.1100, up $0.4327 or 63.89%, on the Nasdaq, on a volume of 25 million shares, above average volume of 1.3 million. The stock opened its trading at $0.8269 after closing previous day's trading at $0.6773. The stock has traded between $0.5900 and $43.0000 in the past 52-week period.

Ensysce Biosciences is a clinical-stage biotech company applying transformative chemistry to improve prescription drug safety to reduce abuse and overdose.

The company announced initiation of the final stage of the Phase 1 study of PF614-MPAR. PF614-MPAR is the overdose protection version of its lead product, PF614, and this key study is being conducted in healthy subjects by Dr. Maria Bermudez MD, at Quotient Sciences, Miami, Florida.

PF614, a TAAPTM prodrug of oxycodone, has a number of safety features designed to reduce abuse, including its extended-release profile that has been shown to reduce 'drug liking' in recreational drug users.

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