Ensysce Biosciences, Inc.

Ensysce Biosciences, Inc. filed a Certificate of Amendment to its Series C Non-Voting Convertible Preferred Stock designation. The amendment removes Section 6.5.3, which previously allowed Series C Preferred Stock holders to redeem their shares for cash under certain conditions, including failure to deliver common stock upon conversion. This amendment was effective upon filing.

Ensysce Biosciences reported a widened net loss of $2.57 million for Q2 2026, compared to $1.73 million in Q2 2025. For the six months ended June 30, 2026, the net loss was $6.13 million, up from $3.68 million in the prior year. The company's cash and cash equivalents significantly decreased to $676,704 from $4.31 million at year-end 2025, and it explicitly stated substantial doubt about its ability to continue as a going concern. Federal grant revenue also declined, while research and development expenses increased.

Ensysce Biosciences announced the completion of its acquisition of Cy Biopharma, adding CY200, an Orphan Drug-designated candidate for Complex Regional Pain Syndrome (CRPS), as its new lead pipeline asset. The acquisition was accompanied by new funding of up to $77 million, significantly extending the company's cash runway into late 2027. For the second quarter ended June 30, 2026, Ensysce reported a net loss of $2.6 million and increased R&D expenses to $2.5 million, reflecting increased clinical activity.

Ensysce Biosciences, Inc. has completed the acquisition of Cy Biopharma, Inc., a clinical-stage biotechnology company developing neuroplastogenic therapies for Complex Regional Pain Syndrome (CRPS). The acquisition includes CY-200, which has U.S. FDA Orphan Drug Designation. Concurrent with the acquisition, Ensysce secured up to $77 million in private placement financing, including an initial close of $21.5 million and $17.1 million from Cy Biopharma's pre-acquisition financing, with a potential $38.6 million follow-on tranche. The funds are expected to advance CY-200 through Phase 2 proof-of-concept data and into registrational development.

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.