Ensysce rallies 22% on FDA update for overdose-resistant opioid (NASDAQ:ENSC)

Ensysce Biosciences (NASDAQ:ENSC) stock closed 22% higher Tuesday after the company said it had received FDA breakthrough therapy designation for its overdose-resistant opioid drug candidate PF614-MPAR.

The company said the product is designed to shut down opioid release if too much of the drug is consumed, thereby reducing the risk of accidental or intentional overdose.

The drug is in Phase 1 testing. A sibling product, PF614, is in Phase 2 testing as an abuse-resistant opioid, according to the company’s website.