Financing ·
Ensysce Biosciences completed the initial closing of a $43 million financing tranche on August 7, 2026, raising over…
ENSCWEnsysce Biosciences, Inc.
Ensysce Biosciences completed the initial closing of a $43 million financing tranche on August 7, 2026, raising over $21 million in gross proceeds. The company acquired Cy Biopharma and issued Series C Preferred Stock to secure these funds. This capital injection provides minimum stockholders' equity of $2.5 million, satisfying Nasdaq Listing Rule 5550(b)(1). Additionally, the company believes it meets the remaining criteria for a second 180-day grace period under Nasdaq Listing Rule 5810(c)(3)(A) to regain compliance with the $1.00 bid price requirement. A formal request for this grace period was submitted to Nasdaq on August 24, 2026. The company awaits confirmation regarding its equity status and bid price compliance. Ensysce Biosciences operates in the biotechnology industry, focusing on developing therapies for cancer and other diseases.