Ensysce Biosciences (ENSC) adds Cy Biopharma, CY200 asset and up to $77M funding

Rhea-AI Filing Summary

Ensysce Biosciences, Inc. completed the acquisition of Cy Biopharma, Inc. on August 6, 2026 through a stock-for-stock merger, adding CY200, an Orphan Drug-designated neuroplastogenic candidate for Complex Regional Pain Syndrome Type 1 as its lead pipeline asset. The transaction, together with concurrent private placements, provides up to $77 million in new funding, including $38.6 million in initial private placement financing and a second tranche of up to $38.6 million tied to clinical milestones, and brought in $17.1 million in cash from Cy Biopharma’s pre-acquisition convertible note financing.

Management states this extends cash runway into late 2027, with the potential second tranche carrying the company into 2028. Following quarter-end, the acquisition and related financings added approximately $31 million of cash net of transaction expenses. Separately, Ensysce is advancing PF614 and PF614-MPAR, supported by a completed $15.1 million NIDA grant, with $5.3 million remaining available as of June 30, 2026.

For the quarter ended June 30, 2026, Ensysce reported federal grant revenue of $1.16 million, research and development expenses of $2.47 million, general and administrative expenses of $1.27 million, and a net loss attributable to common stockholders of $2.57 million (basic and diluted loss per share $0.20). Cash and cash equivalents were $0.68 million at June 30, 2026, with a stockholders’ equity deficit of $1.11 million.

Positive

• Acquisition of Cy Biopharma and CY200 adds a clinical-stage, Orphan Drug-designated CRPS therapy as Ensysce’s new lead asset, potentially expanding its addressable market where there is currently no approved treatment.
• Up to $77 million in new funding from Cy Biopharma-related transactions and private placements, including about $31 million net cash post-close, extends cash runway into late 2027 and potentially into 2028.
• NIDA grant support totaling over $26 million over six years, including a completed $15.1 million award and $5.3 million remaining as of June 30, 2026, provides non-dilutive funding for PF614-MPAR development.
• PF614-MPAR holds FDA Breakthrough Therapy designation, which can facilitate development and review for this overdose-protection opioid program, reinforcing external regulatory support for the technology platform.

Negative

• Rising net losses: Q2 2026 net loss attributable to common stockholders was $2.57 million, up from $1.73 million a year earlier, reflecting higher R&D spend and ongoing operating losses.
• Very low quarter-end cash and equity deficit: cash was $0.68 million at June 30, 2026 and stockholders’ equity stood at a deficit of $1.11 million, highlighting dependence on external financing.
• Operating cash burn increased, with net cash used in operating activities of $5.46 million in the first half of 2026 compared to $4.41 million in the prior-year period, ahead of recognizing post-close financing inflows.
• Federal grant revenue declined to $1.16 million in Q2 2026 from $1.37 million in Q2 2025, reflecting timing of research activities and modestly lowering non-dilutive funding contribution in the quarter.

Filing Explained

The filing specifies that $21.5 million of the concurrent financing involved Series C non-voting convertible preferred stock; it does not disclose conversion terms or a resulting common-share count, so dilution from this tranche cannot be sized here.

8-K Event Classification

2 items: 2.02, 9.01

2 items

Item 2.02 Results of Operations and Financial Condition Financial

Disclosure of earnings results, typically an earnings press release or preliminary financials.

Item 9.01 Financial Statements and Exhibits Exhibits

Financial statements, pro forma financial information, and exhibit attachments filed with this report.

Key Figures

Total potential new funding: $77 million Initial private placement financing: $38.6 million Second financing tranche: Up to $38.6 million +5 more

8 metrics

Total potential new funding $77 million Up to $77 million in new funding associated with the Cy Biopharma acquisition and related financings

Initial private placement financing $38.6 million Private placement financings completed with the Cy Biopharma acquisition

Second financing tranche Up to $38.6 million Additional tranche triggered upon achievement of certain clinical milestones, expected to carry runway into 2028

Net cash added post-close Approximately $31 million Cash from acquisition of Cy Biopharma and related financings, net of transaction expenses, after quarter-end

Q2 2026 net loss to common $2,570,709 Net loss attributable to common stockholders for the quarter ended June 30, 2026

Q2 2026 federal grant revenue $1,164,315 Federal grants recognized for the quarter ended June 30, 2026

Cash and cash equivalents $676,704 Cash and cash equivalents as of June 30, 2026, before recognizing post-close financings

Stockholders’ equity (deficit) $(1,110,833) Stockholders’ equity (deficit) as of June 30, 2026

Key Terms

Orphan Drug Designation, Breakthrough Therapy designation, stock-for-stock merger, non-voting convertible preferred stock, +2 more

6 terms

Orphan Drug Designation regulatory

"CY200, a clinical-stage neuroplastogenic candidate for the treatment of CRPS Type 1, which has received U.S. FDA Orphan Drug Designation."

Orphan drug designation is a special status given to medicines developed to treat rare diseases affecting only a small number of people. This status often provides benefits like faster approval processes and financial incentives, making it more attractive for companies to develop these drugs. For investors, it signals potential for exclusive market rights and reduced competition, which can impact the drug’s profitability.

Breakthrough Therapy designation regulatory

"PF614-MPAR ... has received FDA’s Breakthrough Therapy designation."

A breakthrough therapy designation is a regulatory fast-track given to a drug or treatment that shows early signs of providing a major improvement over existing options for a serious condition. Think of it as a VIP lane that can speed up development and more intensive guidance from regulators, which matters to investors because it can shorten time to market, reduce development risk and potentially increase a company’s value — though it does not guarantee approval.

stock-for-stock merger financial

"The acquisition was a stock-for-stock merger that brought in $17.1 million in cash from Cy Biopharma’s pre-acquisition convertible note financing."

A stock-for-stock merger is a deal where one company buys another by exchanging shares instead of cash, so shareholders of the target receive stock in the buying company. For investors this matters because it changes who owns what percentage of the combined business, can alter the value and risk of their holdings like trading tickets for seats in a new theater, and affects future dividends, voting power and potential gains or losses.

non-voting convertible preferred stock financial

"sale of Series C non-voting convertible preferred stock in a private placement financing with gross proceeds ... approximately $21.5 million"

A non-voting convertible preferred stock is a share that normally pays a fixed dividend and takes priority over common stock for payouts, but does not grant the holder the right to vote on corporate matters. It can be exchanged later for a set number of common shares, offering the potential to participate in price gains without immediate control—like holding a high-yield loan that can be turned into equity, which matters to investors weighing steady income, upside potential, and possible dilution of ownership.

Complex Regional Pain Syndrome medical

"CY200, an Orphan Drug-designated candidate for Complex Regional Pain Syndrome (CRPS), to be our lead pipeline asset."

Trypsin-Activated Abuse Protection (TAAP™) technical

"Trypsin-Activated Abuse Protection (TAAP™) PF614 represents what we believe could be a next-generation extended-release oxycodone"

Earnings Snapshot

Federal grants (Q2 2026): $1,164,315

Quarter and six months ended June 30, 2026

Federal grants (Q2 2026) $1,164,315 Compared with $1,371,438 in the quarter ended June 30, 2025

Research and development expenses (Q2 2026) $2,471,752 Compared with $1,923,430 in the quarter ended June 30, 2025

General and administrative expenses (Q2 2026) $1,268,952 Compared with $1,198,523 in the quarter ended June 30, 2025

Net loss attributable to common stockholders (Q2 2026) $2,570,709 Compared with $1,733,351 in the quarter ended June 30, 2025

FAQ

What major transaction did Ensysce Biosciences (ENSC) complete in August 2026?

Ensysce completed the acquisition of Cy Biopharma on August 6, 2026 via a stock-for-stock merger. The deal added CY200, an Orphan Drug-designated candidate for Complex Regional Pain Syndrome Type 1, as Ensysce’s lead pipeline asset and brought in additional cash and financing.

How much new funding is associated with Ensysce Biosciences’ (ENSC) Cy Biopharma acquisition?

The Cy Biopharma acquisition and related financings provide up to $77 million in new funding. This includes private placement financings of $38.6 million initially and a second tranche of up to $38.6 million upon clinical milestones, plus $17.1 million cash from Cy Biopharma’s notes.

What is Ensysce Biosciences’ (ENSC) cash runway after the Cy Biopharma deal?

Management states that Ensysce now has cash runway into late 2027. A second financing tranche of up to $38.6 million, contingent on clinical milestones, is expected to carry the company into 2028, assuming those milestones are achieved and the tranche is funded.

What were Ensysce Biosciences’ (ENSC) key Q2 2026 financial results?

For Q2 2026, Ensysce reported $1.16 million in federal grant revenue, $2.47 million in R&D expenses, $1.27 million in G&A expenses, and a net loss attributable to common stockholders of $2.57 million, or $0.20 per basic and diluted share.

What was Ensysce Biosciences’ (ENSC) cash position and equity status at June 30, 2026?

At June 30, 2026, Ensysce had $0.68 million in cash and cash equivalents and total assets of $2.96 million. Total liabilities were $4.07 million, resulting in a stockholders’ equity (deficit) position of approximately $(1.11) million.

How is Ensysce Biosciences (ENSC) funding its PF614-MPAR opioid program?

PF614-MPAR is supported by a $15.1 million NIDA grant, the third year of which was awarded in 2026, completing the award. Over six years, NIDA has provided more than $26 million in grants, with $5.3 million remaining available under the current grant as of June 30, 2026.

What designations do Ensysce Biosciences’ (ENSC) lead programs hold?

CY200, gained via the Cy Biopharma acquisition, has U.S. FDA Orphan Drug Designation for CRPS Type 1. PF614-MPAR, Ensysce’s overdose-protection opioid candidate, has received FDA Breakthrough Therapy designation, which can expedite development and review.

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Understanding 8-K Material Events →

Available on EDGAR 08/13/2026 - 04:20 PM Accepted by SEC EDGAR 08/13/2026 - 04:20 PM Learn about SEC filing dates

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 13, 2026 (August 13, 2026)

Ensysce Biosciences, Inc.

(Exact name of registrant as specified in its charter)

Delaware		001-38306		82-2755287
(State or other jurisdiction of incorporation or organization)		(Commission File Number)		(I.R.S. Employer Identification Number)

7946 Ivanhoe Avenue, Suite 201 La Jolla, California		92037
(Address of principal executive offices)		(Zip Code)

(858) 263-4196

Registrant’s telephone number, including area code

N/A

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation to the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		ENSC		The Nasdaq Stock Market LLC

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition.

On August 13, 2026, Ensysce Biosciences, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended June 30, 2026. A copy of the press release is included as Exhibit 99.1 to this Current Report on Form 8-K.

The information in this Item 2.02, including Exhibit 99.1 attached hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor will they be deemed to be incorporated by reference in any filing under the Securities Act of 1933, as amended, except as will be expressly set forth by specific reference in such a filing.

Forward-Looking Statements

This report contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may be made directly in this report. Some of the forward-looking statements can be identified by the use of forward-looking words. Statements that are not historical in nature, including the words “anticipate,” “expect,” “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions are intended to identify forward-looking statements. All forward-looking statements are based upon management estimates and forecasts and reflect the views, assumptions, expectations, and opinions of the Company as of the date of this report, and may include, without limitation, changes in general economic and political conditions, all of which are accordingly subject to change. Any such estimates, assumptions, expectations, forecasts, views or opinions set forth in this report constitute the Company’s judgments and should be regarded as indicative, preliminary and for illustrative purposes only. The forward-looking statements and projections contained in this report are subject to a number of factors, risks and uncertainties, some of which are not currently known to the Company, that may cause the Company’s actual results, performance or financial condition to be materially different from the expectations of future results, performance of financial condition. Although such forward-looking statements have been made in good faith and are based on assumptions that the Company believes to be reasonable, there is no assurance that the expected results will be achieved. The Company’s actual results may differ materially from the results discussed in forward-looking statements. Additional information on factors that may cause actual results and the Company’s performance to differ materially is included in the Company’s filings with the Securities and Exchange Commission (the “SEC”). Copies of such filings with the SEC are available publicly on the SEC’s website at www.sec.gov or may be obtained by contacting the Company. Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made. These forward-looking statements are made only as of the date hereof, and the Company does not undertake any obligations to update or revise the forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
99.1		Press Release, dated August 13, 2026
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 13, 2026	Ensysce Biosciences, Inc.
	By:	/s/ Lynn Kirkpatrick
	Name:	Dr. Lynn Kirkpatrick
	Title:	President and Chief Executive Officer
		(Principal Executive Officer)

Exhibit 99.1

Ensysce Biosciences Reports Second Quarter 2026 Financial Results and Recent Business Highlights

~ Acquisition of Cy Biopharma Completed, Adding CY200 for Complex Regional Pain Syndrome ~

~ Up to $77 million in new funding with the acquisition of Cy Biopharma ~

~ Company to host a Corporate Update Call on Tuesday, August 18, 2026, at 11:00 a.m. ET ~

SAN DIEGO, CA / 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 $38.6 million, adding CY200, an Orphan Drug-designated candidate for Complex Regional Pain Syndrome (CRPS), to be our lead pipeline asset. We now have cash runway into late 2027, and a second financing tranche of up to $38.6 million, triggered upon achievement of certain clinical milestones, would carry the company into 2028.

The acquisition was a stock-for-stock merger that brought in $17.1 million in cash from Cy Biopharma’s pre-acquisition convertible note financing. Concurrent with the acquisition, Ensysce entered into a definitive agreement for the sale of Series C non-voting convertible preferred stock in a private placement financing with gross proceeds to the Company of approximately $21.5 million before deducting transaction expenses. The private placement financing was led by Ally Bridge Group and included participation from Perceptive Advisors, Dellora Investments, Ikarian Capital and Adage Capital Partners, L.P.

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 $1 billion for which there is currently no approved therapy,” said Dr. Lynn Kirkpatrick, Chief Executive Officer of Ensysce. “During the second quarter of 2026 we also advanced the clinical development of PF614-MPAR, the first opioid engineered with built-in overdose protection. To support this clinical development, we were awarded the third year of funding under a $15.1 million grant from the National Institute on Drug Abuse (NIDA), completing the award, a powerful vote of confidence from a leading federal agency that has backed this program with two major awards totaling over $26 million over six years.”

TAAP™ 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, $5.3 million of funding remained available through May 2027 under the grant.

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 $0.7 million as of June 30, 2026, compared to $4.3 million as of December 31, 2025. The decrease reflects $5.5 million of cash used in operating activities during the first six months of 2026, partially offset by $1.8 million of net proceeds from a preferred stock financing. Following quarter-end, the acquisition of Cy Biopharma and related financings provided cash of approximately $31 million, net of transaction expenses.

Federal Grants - Funding under federal grants totaled $1.2 million for the second quarter of 2026 compared to $1.4 million in the comparable year ago quarter. This $0.2 million decrease is primarily due to the timing of research activities eligible for funding under the MPAR grant.

Research & Development Expenses - R&D expenses were $2.5 million for the second quarter of 2026 compared to $1.9 million for the same period in 2025, representing an increase of $0.5 million. The increase was primarily the result of external research and development costs related to increased clinical activity for PF614.

General & Administrative Expenses - G&A expenses were $1.3 million in the second quarter of 2026 and $1.2 million for the second quarter of 2025, representing an increase of $0.1 million.

Other Income (Expense) - Total other income (expense) was income of $5,514 for the second quarter of 2026 compared to income of $16,998 in the same period of 2025. Total other income (expense) for the quarters ended June 30, 2026 and June 30, 2025, consisted primarily of interest income from cash and cash equivalents.

Net Income (Loss) - Net loss attributable to common stockholders for the second quarter of 2026 was $2.6 million compared to a net loss of $1.7 million for the second quarter of 2025. 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. Results for periods after June 30, 2026, will reflect the acquisition of Cy Biopharma and related transaction expenses, and are therefore not comparable to the periods presented.

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

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EX-99.1 62.4 KB

Other Documents

• EX-101 XBRL SCHEMA FILE 2.9 KB
• EX-101 XBRL LABEL FILE 33.4 KB
• EX-101 XBRL PRESENTATION FILE 21.8 KB