Ensysce Biosciences Reports Second Quarter 2026 Financial Results and Recent Business Highlights
Rhea-AI Summary
Ensysce Biosciences (NASDAQ: ENSC) reported second quarter 2026 results and completed the stock‑for‑stock acquisition of Cy Biopharma on August 6, 2026, adding lead asset CY200, an FDA Orphan Drug‑designated candidate for Complex Regional Pain Syndrome (CRPS) Type 1.
The transaction, together with concurrent private placement financings, provides up to $77.2 million in funding: $17.1 million cash from Cy Biopharma’s pre‑acquisition notes and approximately $21.5 million in gross proceeds from Series C preferred stock, plus a second tranche of up to $38.6 million tied to clinical milestones. According to Ensysce, this extends cash runway into late 2027, with potential to reach 2028 if the second tranche is triggered.
Q2 2026 federal grant revenue was $1.16 million, R&D expenses $2.47 million, G&A $1.27 million, and net loss attributable to common stockholders $2.57 million (vs. $1.73 million in Q2 2025). Cash at June 30, 2026 was $0.68 million, increasing by about $31 million after quarter‑end from the Cy Biopharma deal and related financings. Ensysce also advanced PF614 and PF614‑MPAR programs, secured the third year of a $15.1 million NIDA grant, retained $5.3 million in remaining grant funds, and gained new MPAR patent protection in Taiwan through 2042.
Positive
- Cy Biopharma acquisition adds Orphan Drug CY200 and up to $77.2 million funding
- Post‑closing cash increased by about $31 million net of transaction expenses
- Second financing tranche of up to $38.6 million contingent on clinical milestones
- NIDA grant third‑year funding under $15.1 million award, with $5.3 million remaining
- MPAR patent protection extended in Taiwan through 2042
- Federal grant funding of $1.16 million in Q2 2026 supports R&D programs
Negative
- Q2 2026 net loss attributable to stockholders of $2.57 million, up from $1.73 million
- Six‑month 2026 operating cash use of $5.46 million, higher than prior year
- Cash at June 30, 2026 only $0.68 million before post‑quarter financings
- Federal grant revenue declined by $0.21 million year over year in Q2 2026
- Stockholders’ equity at June 30, 2026 was negative $1.11 million
News Explained
The acquisition is complete, but its
Market Reaction – ENSC
Following this news, ENSC has gained 3.33%, reflecting a moderate positive market reaction. Argus tracked a peak move of +9.9% during the session. Our momentum scanner has triggered 40 alerts so far, indicating elevated trading interest and price volatility. The stock is currently trading at $0.36. Trading volume is exceptionally heavy at 7.3x the average, suggesting very strong buying interest.
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Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 15 | Q1 earnings report | Positive | +13.2% | Q1 results, clinical progress, and financing followed a reported net loss. |
| Mar 30 | Full-year earnings | Positive | +4.8% | Full-year results included Phase 3 initiation, patent progress, and reported annual losses. |
| Nov 14 | Q3 earnings report | Positive | -4.8% | Phase 3 initiation and Breakthrough Therapy support accompanied financing and reported losses. |
| Aug 13 | Q2 earnings report | Positive | -4.2% | Operational opioid-program progress and grant funding accompanied a reported quarterly loss. |
| May 13 | Q1 earnings report | Positive | +11.6% | Patent issuance and study progress accompanied improved loss and increased R&D expenses. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings reactions were positive in three of five comparable events, while two positive operational updates diverged with declines.
Key Terms
crps medical
orphan drug designation regulatory
convertible preferred stock financial
phase 2 trial medical
breakthrough therapy designation regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Acquisition of Cy Biopharma Completed, Adding CY200 for Complex Regional Pain Syndrome
Up to
Company to host a Corporate Update Call on Tuesday, August 18, 2026, at 11:00 a.m. ET
SAN DIEGO, CA / ACCESS Newswire / August 13, 2026 / Ensysce Biosciences, Inc. (NASDAQ:ENSC) ("Ensysce" or the "Company"), a clinical-stage biotechnology company developing novel neuroplastogenic therapies beyond mood disorders, with an initial focus on complex pain, today reported financial and operational results for the second quarter ended June 30, 2026.
On August 6, 2026, we completed the acquisition of Cy Biopharma, Inc. ("Cy Biopharma") with private placement financings of
The acquisition was a stock-for-stock merger that brought in
Complex Regional Pain Syndrome (CRPS) Program Update
With the acquisition of Cy Biopharma, the Company added CY200, a clinical-stage neuroplastogenic candidate for the treatment of CRPS Type 1, which has received U.S. FDA Orphan Drug Designation. CRPS is among the most severe chronic pain disorders, with few effective treatment options and significant physical, psychological, and socioeconomic burden, and there is currently no approved therapy for the condition. Rather than managing symptoms alone, CY200 is designed to address the underlying neurobiology of CRPS. The Company intends to apply proceeds from the private placement financings primarily to advance CY200 through a randomized Phase 2 trial evaluating efficacy, safety and tolerability for symptom alleviation in participants with CRPS Type 1, and to prepare for registrational development.
"Cy Biopharma's neuroplastogenic approach to complex pain was the most compelling strategic opportunity we explored, and we believe this acquisition represents a significant value creation opportunity for Ensysce stockholders. The concurrent private placement financing was intentionally sized to support our immediate strategic objectives while maintaining financial discipline and allow us to progress our lead candidate in a pain market valued over
TAAPTM and MPAR® (Opioid Abuse Deterrent and Overdose Protection Programs) Update
Trypsin‑Activated Abuse Protection (TAAP™) PF614 represents what we believe could be a next‑generation extended‑release oxycodone with built‑in abuse protection. PF614 remains inactive until it is swallowed and exposed to trypsin in the small intestine, where it "switches on" to release oxycodone in a controlled manner, providing what we believe is improved safety. Development of PF614 continues with the pivotal PF614-301 Phase 3 clinical trial, a multicenter, randomized, double-blind, placebo-controlled study evaluating PF614 for the treatment of moderate to severe pain following abdominoplasty.
PF614-MPAR is a combination product that integrates both the TAAP™ and MPAR® (Multi-Pill Abuse Resistance) technologies to deliver effective opioid analgesia with the added benefit of built-in oral overdose protection, and has received FDA's Breakthrough Therapy designation. Ensysce has continued to enroll subjects in the PF614-MPAR-102 study, supported by the NIDA grant, reflecting ongoing external validation of the program's potential impact. As of June 30, 2026,
Ensysce also strengthened its intellectual property position for MPAR® during the quarter. In May 2026, the Taiwan Intellectual Property Office issued a patent titled "Compositions Comprising Enzyme-Cleavable Prodrugs and Controlled Release Nafamostat and Methods of Use Thereof," extending MPAR® patent protection through 2042 in that jurisdiction and expanding on U.S. Patent No. 12,599,578, which issued April 14, 2026.
Q2 2026 Financial Results
Cash - Cash and cash equivalents were
Federal Grants - Funding under federal grants totaled
Research & Development Expenses - R&D expenses were
General & Administrative Expenses - G&A expenses were
Other Income (Expense) - Total other income (expense) was income of
Net Income (Loss) - Net loss attributable to common stockholders for the second quarter of 2026 was
Corporate Update Conference Call
CEO, Dr. Lynn Kirkpatrick, President, James Morrison, and Cy Biopharma CMO, Professor Richard Langford, will host a conference call on Tuesday, August 18, 2026, at 11:00 a.m. ET to provide a corporate update, including the recently completed acquisition of Cy Biopharma.
Date: Tuesday, August 18, 2026
Time: 11:00 a.m. ET
U.S. Dial-in: 1-877-407-9716
International Dial-in: 1-201-493-6779
Webcast: https://viavid.webcasts.com/starthere.jsp?ei=1772527&tp_key=742e115fc1
Please dial in at least 10 minutes before the start of the call to ensure timely participation. A playback of the call will be available through Friday, September 18, 2026. To listen, call 1-844-512-2921 within the United States and Canada or 1-412-317-6671 when calling internationally. Please use the replay access ID 13762262.
About Ensysce Biosciences
Ensysce Biosciences is a clinical-stage biotechnology company developing novel neuroplastogenic therapies using psychedelics that go beyond mood disorders and address the root cause of chronic pain through central nervous system modulation. The company is also developing a new class of highly novel opioids for the treatment of severe pain while minimizing the risk of both drug abuse and overdose. For more information, please visit www.ensysce.com.
Definitions
CRPS: complex regional pain syndrome - a severe chronic pain disorder for which there is currently no approved therapy.
TAAP™: trypsin activated abuse protection - designed to protect against prescription drug abuse.
MPAR®: multi-pill abuse resistance - designed to protect against abuse and accidental overdose.
Forward-Looking Statements
Statements contained in this press release that are not purely historical may be deemed to be forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws. Without limiting the foregoing, the use of words such as "may," "intends," "can," "might," "will," "expect," "plan," "possible," "believe" and other similar expressions are intended to identify forward-looking statements. The product candidates discussed are in clinic and not approved and there can be no assurance that the clinical programs will be successful in demonstrating safety and/or efficacy, that Ensysce will not encounter problems or delays in clinical development, or that any product candidate will ever receive regulatory approval or be successfully commercialized. All forward-looking statements are based on estimates and assumptions by Ensysce's management that, although Ensysce believes to be reasonable, are inherently uncertain. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Ensysce expected. In addition, Ensysce's business is subject to additional risks and uncertainties, including among others, possible NASDAQ delisting, the initiation and conduct of preclinical studies and clinical trials; the timing and availability of data from preclinical studies and clinical trials; expectations for regulatory submissions and approvals; potential safety concerns related to, or efficacy of, Ensysce's product candidates; the availability or commercial potential of product candidates; continuation of government funding; the ability of Ensysce to fund its continued operations, including its planned clinical trials; the dilutive effect of stock issuances from our fundraising; and Ensysce's and its partners' ability to perform under their license, collaboration and manufacturing arrangements. These statements are also subject to a number of material risks and uncertainties that are described in Ensysce's most recent quarterly report on Form 10-Q and current reports on Form 8-K, available free of charge at the SEC's website at www.sec.gov. Any forward-looking statement speaks only as of the date on which it was made. Ensysce undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required under applicable law.
Ensysce Biosciences Company Contact:
Lynn Kirkpatrick, Ph.D.
Chief Executive Officer
(858) 263-4196
Ensysce Biosciences Investor Relations Contact:
Shannon Devine
MZ North America
Main: 203-741-8811
ENSC@mzgroup.us
Ensysce Biosciences, Inc.
Condensed Consolidated Statements of Operations
(Unaudited)
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
2026 | 2025 | 2026 | 2025 | |||||||||||||
Federal grants | $ | 1,164,315 | $ | 1,371,438 | $ | 2,125,313 | $ | 2,691,210 | ||||||||
Operating expenses: | ||||||||||||||||
Research and development | 2,471,752 | 1,923,430 | 5,818,633 | 3,808,957 | ||||||||||||
General and administrative | 1,268,952 | 1,198,523 | 2,445,299 | 2,600,279 | ||||||||||||
Total operating expenses | 3,740,704 | 3,121,953 | 8,263,932 | 6,409,236 | ||||||||||||
Loss from operations | (2,576,389 | ) | (1,750,515 | ) | (6,138,619 | ) | (3,718,026 | ) | ||||||||
Total other income (expense), net | 5,514 | 16,998 | 11,329 | 38,936 | ||||||||||||
Net loss | $ | (2,570,875 | ) | $ | (1,733,517 | ) | $ | (6,127,290 | ) | $ | (3,679,090 | ) | ||||
Adjustments to net loss | 166 | 166 | 166 | 166 | ||||||||||||
Net loss attributable to common stockholders | $ | (2,570,709 | ) | $ | (1,733,351 | ) | $ | (6,127,124 | ) | $ | (3,678,924 | ) | ||||
Net loss per share attributable to common stockholders, basic and diluted | $ | (0.20 | ) | $ | (0.79 | ) | $ | (0.62 | ) | $ | (2.04 | ) | ||||
Ensysce Biosciences, Inc.
Condensed Consolidated Statements of Cash Flows
(Unaudited)
Six Months Ended June 30, | ||||||||
2026 | 2025 | |||||||
Net cash used in operating activities | $ | (5,463,383 | ) | $ | (4,414,280 | ) | ||
Net cash provided by financing activities | 1,829,733 | 3,123,778 | ||||||
Change in cash and cash equivalents | (3,633,650 | ) | (1,290,502 | ) | ||||
Cash and cash equivalents at beginning of period | 4,310,354 | 3,502,077 | ||||||
Cash and cash equivalents at end of period | $ | 676,704 | $ | 2,211,575 | ||||
Ensysce Biosciences, Inc.
Condensed Consolidated Balance Sheets
(Unaudited)
June 30, | December 31, | |||||||
2026 | 2025 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 676,704 | $ | 4,310,354 | ||||
Prepaid expenses and other current assets | 2,169,506 | 2,934,664 | ||||||
Total current assets | 2,846,210 | 7,245,018 | ||||||
Other assets | 111,063 | 207,461 | ||||||
Total assets | $ | 2,957,273 | $ | 7,452,479 | ||||
Liabilities and stockholders' equity (deficit) | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 1,977,629 | $ | 3,267,610 | ||||
Accrued expenses and other liabilities | 1,893,635 | 993,411 | ||||||
Notes payable and accrued interest | 196,842 | 306,708 | ||||||
Total current liabilities | 4,068,106 | 4,567,729 | ||||||
Long-term liabilities | - | - | ||||||
Total liabilities | 4,068,106 | 4,567,729 | ||||||
Stockholders' equity (deficit) | (1,110,833 | ) | 2,884,750 | |||||
Total liabilities and stockholders' equity (deficit) | $ | 2,957,273 | $ | 7,452,479 | ||||
SOURCE: Ensysce Biosciences, Inc.
View the original press release on ACCESS Newswire