Ensysce Biosciences completed the acquisition of Cy Biopharma on August 5, 2026, issuing 282,122 shares of Series C Preferred Stock to Cy's equityholders. Concurrently, Ensysce raised approximately $43 million in a private placement by selling 120,260 shares of Series C Preferred Stock at an aggregate price of roughly $321.79 per share for the initial tranche and $402.24 per share for the milestone tranche. The company also terminated agreements with 3i, LP, converting outstanding Series B Preferred Stock into common stock and paying a $250,000 settlement. Lynn Kirkpatrick resigned as President while remaining CEO, and James Morrison was appointed President and Director. Ensysce Biosciences is a clinical-stage biotechnology company developing novel analgesic therapies.

On July 10, 2026, Jeffrey Millard resigned from his position as Chief Operating Officer of Ensysce Biosciences, Inc., effective immediately. The company operates in the biotechnology industry, focusing on the development of non-opioid pain therapies.