MC Banhammer Posted:

From my testing: Revives you up to 500 Ego. And as for consumed, it is only consumed for that battle, and can be used again and again and again… in other battles.

Takes up the Special Item slot, though, so if you prefer your Master Ball you might not want it.

I also bumumed it would break or something after you used the effect once; the fact that you can re-use it over and over changes it from a cool novelty item (like the male reproductive organblaster from Episode 1) into something pretty useful, imo.