Quarterly ResultMay 15, 2026, 04:34 PM
Ensysce Biosciences Q1 Net Loss $3.6M; Explores Strategic Alternatives
AI Summary
Ensysce Biosciences reported a net loss of $3.6 million for the first quarter of 2026, an increase from $1.9 million in Q1 2025, primarily due to higher R&D expenses for its Phase 3 clinical trial. Operationally, the company achieved 50% interim enrollment in its pivotal PF614-301 Phase 3 trial and secured IRB approval for Part 3 of the PF614-MPAR-102 study. The Board has also launched a formal review of strategic alternatives to accelerate platform development and enhance shareholder value.
Key Highlights
- Net loss attributable to common stockholders was $3.6 million for Q1 2026, compared to $1.9 million in Q1 2025.
- Research & Development expenses increased to $3.3 million in Q1 2026 from $1.9 million in Q1 2025.
- Cash and cash equivalents were $0.7 million as of March 31, 2026, down from $4.3 million at December 31, 2025.
- Secured $2.0 million in convertible preferred stock financing in April 2026, post-quarter end.
- Achieved 50% interim enrollment target in the pivotal PF614-301 Phase 3 clinical trial.
- Received IRB approval to initiate Part 3 of the PF614-MPAR-102 study.
- Board initiated a formal review of strategic alternatives, including partnerships and licensing.
- Received European Patent Office Notice of Allowance for PF8026 (ADHD program).
Price Impact
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