Recent Updates — ENSCW

Ensysce Biosciences received Nasdaq notification confirming compliance with the $2.5 million stockholders' equity requirement, though it must demonstrate continued compliance in its next periodic report to avoid delisting. Additionally, Nasdaq granted an extension until February 22, 2027, to regain compliance with the $1.00 minimum bid price requirement following a prior notice of non-compliance. The filing also discloses that the August 5, 2026 acquisition of Cy Biopharma constitutes a Change of Control under Nasdaq rules, requiring the post-transaction entity to satisfy initial listing criteria and complete an initial listing process before converting preferred stock issued in the transaction. Failure to meet these requirements could result in trading suspension. Ensysce Biosciences operates in the biotechnology industry, focusing on developing therapies for rare diseases.

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.

Ensysce Biosciences reported a net loss of $2.6 million for the second quarter ended June 30, 2026, compared to a $1.7 million loss in the prior year period. The company completed its acquisition of Cy Biopharma on August 6, 2026, adding CY200, an Orphan Drug-designated candidate for Complex Regional Pain Syndrome, as its lead pipeline asset. This transaction was supported by private placement financings totaling up to $77 million, including a $38.6 million initial tranche and a potential second tranche of the same amount triggered by clinical milestones. Concurrently, Ensysce raised approximately $21.5 million through the sale of Series C non-voting convertible preferred stock led by Ally Bridge Group. These financings provide cash runway into late 2027. The company also advanced its PF614-MPAR program with a third-year NIDA grant award and continues enrollment in pivotal Phase 3 trials for PF614. Ensysce Biosciences is a clinical-stage biotechnology company developing neuroplastogenic therapies and novel opioids for pain management.

Ensysce Biosciences, Inc. completed the acquisition of clinical-stage biotechnology company Cy Biopharma in a stock-for-stock merger. Concurrently, the Company raised up to $77 million through private placement financing consisting of an initial tranche generating approximately $21.5 million and a follow-on tranche of up to $38.6 million contingent on achieving a clinical trial milestone. The acquisition brings Cy Biopharma’s lead candidate CY200, a neuroplastogenic therapy for Complex Regional Pain Syndrome with FDA Orphan Drug Designation, into Ensysce's pipeline. James Morrison, Cy Biopharma’s founder and CEO, will serve as President of the combined company. This transaction is material as it significantly alters the Company's asset base, capital structure, and strategic focus. Ensysce Biosciences operates in the biotechnology industry, developing novel opioid therapies for severe pain.