By Connor Hart

Shares of Ensysce Biosciences climbed after the company said it received a patent for its in-development treatment for opioid use disorder.

The stock jumped 32%, to $2.73, in after-hours trading. Through Tuesday's regular session, shares have lost three-quarters of their value in the past year.

The pharmaceutical company's chief executive, Lynn Kirkpatrick, said after the bell that Ensysce made strides during the recent quarter to deliver what the company believes are next-generation opioid analgesics, which protect against both abuse and overdose.

Recent achievements, she said, include the receipt of a notice of allowance from the U.S. Patent and Trademark Office for the company's lead opioid-use-disorder drug candidate, PF9001. The drug is designed to have several advantages over current methadone therapy such as reduced cardiotoxicity, she added.

Kirkpatrick noted that the company continues to work on the development of its lead product, PF614, an extended-release oxycodone to treat severe pain, as well as its combination product, PF614-MPAR, designed to treat severe pain with the added benefit of oral overdose protection.

The updates came as Ensysce reported a net loss of $1.9 million in the first quarter, compared with a loss of $3.1 million a year earlier.

"As a clinical stage biotech company, our continued research and development efforts toward regulatory approvals for our product candidates are expected to result in losses for the foreseeable future," the company said.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 13, 2025 18:48 ET (22:48 GMT)

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