Ensysce Biosciences (NASDAQ:ENSC) shares are up on Friday as the company has initiated a review of strategic alternatives aimed at enhancing shareholder value.
The company on Wednesday announced that its Board of Directors is exploring a range of strategic alternatives, which may include partnerships, licensing arrangements, or asset sales.
The strategic review is intended to support the advancement of its proprietary technologies, specifically the TAAP and MPAR platforms.
“Our technologies were designed to fundamentally improve the safety profile of opioids, and we believe they have relevance well beyond a single class,” said Lynn Kirkpatrick, CEO of Ensysce Biosciences.
“We are thoughtfully exploring strategic alternatives that we believe could unlock additional value for our shareholders while allowing us to remain disciplined in our execution and focused on advancing our TAAP and MPAR platforms,” Kirkpatrick commented on Wednesday.
Ensysce Biosciences is a clinical-stage pharmaceutical company focused on developing a new class of safer opioid medicines for severe pain.
Leveraging its proprietary Trypsin-Activated Abuse Protection (TAAP) and Multi-Pill Abuse Resistance (MPAR) platforms, Ensysce is advancing tamper-resistant therapeutic options designed to minimize the risk of opioid abuse and oral overdose while preserving strong analgesic efficacy.
ENSC Price Action: Ensysce Biosciences shares were up 58.66% at $0.63 at the time of publication on Friday, according to Benzinga Pro data.
Photo Courtesy Andrii Yalanskyi via Shutterstock
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