Ensysce Biosciences, Inc.

Ensysce Biosciences, Inc. announced that Jeffrey Millard, the company's Chief Operating Officer, resigned from his position. The resignation was effective on July 10, 2026.

Ensysce Biosciences, Inc. received a notice from Nasdaq on May 21, 2026, indicating non-compliance with the $2.5 million stockholders' equity requirement as of March 31, 2026. This subjects the company to delisting unless it submits a plan to regain compliance by July 6, 2026. The company intends to submit a timely plan and actively explore options to meet Nasdaq's listing requirements, though there is no assurance of acceptance or successful compliance.

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.

Ensysce Biosciences, Inc. has issued a Common Stock Purchase Warrant to 3i, LP, granting the holder the right to purchase up to 4,363,637 shares of the company's common stock. This warrant, issued on April 6, 2026, is exercisable for an eighteen-month period, expiring on October 6, 2027. The company has committed to filing a registration statement for the underlying shares within three business days to ensure they are freely tradable, aiming for effectiveness within 45 days. This issuance is likely part of a broader financing strategy, as indicated by its reference to a Securities Purchase Agreement dated November 13, 2025, and amended on April 2, 2026, providing potential future capital to the company while also implying future dilution for existing shareholders upon exercise.