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Ensysce Biosciences, Inc.

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Ensysce Biosciences, Inc. • NASDAQ
$1.77 ▲ 0.00% (+0.00)
Market Cap $4.20 M
52w High $10.96
52w Low $1.52
Dividend Yield 0%
P/E -0.28
Volume 32.80K
Outstanding Shares 2.37M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $493.104K ▼ $1.279M ▲ $-3.729M ▼ -756.256% ▼ $-1.29 ▼ $18.336K ▲
Q2-2025 $1.371M ▲ $1.199M ▼ $-1.733M ▲ -126.389% ▲ $-0.79 ▲ $0 ▲
Q1-2025 $1.32M ▲ $3.287M ▲ $-1.946M ▲ -147.424% ▲ $-1.39 ▲ $-1.942M ▼
Q4-2024 $1.304M ▼ $1.078M ▼ $-3.564M ▼ -273.417% ▼ $-2.9 ▼ $0 ▼
Q3-2024 $3.419M $1.083M $661.769K 19.356% $1 $665.829K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $1.673M ▼ $3.179M ▼ $2.305M ▼ $1.203M ▼
Q2-2025 $2.212M ▼ $5.574M ▲ $2.514M ▲ $3.389M ▲
Q1-2025 $3.052M ▼ $4.612M ▼ $1.891M ▼ $3.049M ▼
Q4-2024 $3.502M ▼ $5.597M ▼ $2.217M ▼ $3.708M ▼
Q3-2024 $4.154M $9.385M $2.805M $6.908M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-3.729M ▼ $-1.866M ▲ $-123.643K ▼ $1.451M ▼ $-538.357K ▲ $-1.99M ▲
Q2-2025 $-1.734M ▲ $-2.707M ▼ $0 $1.866M ▲ $-840.916K ▼ $-2.707M ▼
Q1-2025 $-1.946M ▲ $-1.707M ▼ $0 $1.258M ▲ $-449.586K ▲ $-1.707M ▼
Q4-2024 $-3.564M ▼ $-764.09K ▲ $0 $112.575K ▼ $-651.514K ▼ $-764.09K ▲
Q3-2024 $661.769K $-1.02M $0 $4.131M $3.11M $-1.02M

Revenue by Products

Product Q2-2023Q3-2023Q2-2025Q3-2025
MPAR
MPAR
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Ensysce’s income statement reflects a classic early-stage biotech profile: almost no product revenue yet and steady operating losses as the company funds research, clinical trials, and overhead. Losses per share look extremely large and volatile, largely because of repeated reverse stock splits and equity restructuring, not because the underlying business suddenly changed overnight. The core message is that the company is still firmly in the investment and development phase, with its financial results driven by R&D and corporate costs rather than sales.

Balance Sheet

Balance Sheet The balance sheet is very light, with only a small base of assets and historically thin or even negative shareholder equity. Cash balances have been modest, suggesting a limited cushion and an ongoing need for external financing to support operations. Debt has not been a major feature recently, which reduces interest obligations but also means the company has mainly depended on issuing equity. Multiple reverse stock splits underline that the capital structure has been under pressure and that shareholders have likely experienced significant dilution over time.

Cash Flow

Cash Flow Cash flow is clearly negative from operations, showing that the business consumes cash rather than generates it. This reflects spending on clinical development, regulatory work, and corporate overhead without offsetting product revenue yet. Free cash flow mirrors this pattern, with very little going into physical assets but substantial cash out to fund trials and platform development. Practically, the company’s ability to continue depends on accessing new capital from investors or partners until products reach commercialization.

Competitive Edge

Competitive Edge Competitively, Ensysce is differentiated by its chemistry-based approach to abuse deterrence and overdose protection, which is structurally different from most existing “hard-to-crush” or barrier-style opioid formulations. Its TAAP and MPAR technologies offer both an “on switch” that limits abuse by non-oral routes and an “off switch” that seeks to reduce overdose risk when too many pills are taken. Strong patent coverage around these platforms provides some protection against copycats. However, as a small clinical-stage player, the company faces large, well-funded competitors in pain management and ADHD, and its position will ultimately depend on clinical results, regulatory outcomes, and its ability to secure partners or build a commercial footprint.

Innovation and R&D

Innovation and R&D Innovation is the clear strength of Ensysce. The TAAP platform aims to activate drugs only in the gut, while MPAR is designed to shut down excessive dosing, together offering a layered safety concept that addresses both abuse and overdose. The lead pain product and the follow-on PF614-MPAR combination represent important proof points, while pipeline efforts in ADHD and opioid use disorder show how the same chemistry approach could extend to other high-risk drug classes. At the same time, every step forward is trial-dependent: setbacks in late-stage studies, safety signals, or regulatory pushback could significantly delay or derail the programs, so R&D here carries high scientific and execution risk along with its promise.

Summary

Overall, Ensysce is a high-risk, high-uncertainty clinical-stage biotech with an unusually distinctive technology platform targeting a very real public health problem. Financially, it has minimal revenue, persistent losses, and relies on outside funding, making dilution and funding access ongoing concerns. Strategically, its chemically activated and deactivated prodrug technologies, together with a focused pipeline in pain, ADHD, and opioid use disorder, give it a clearly defined niche and potential moat if approvals and adoption follow. The story going forward hinges far more on scientific, regulatory, and partnership milestones than on current financial performance, and outcomes could vary widely depending on how those milestones play out.

NEWS

November 20, 2025 · 8:00 AM UTC

Ensysce Biosciences Receives Positive FDA Feedback on PF614 Manufacturing Approach

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November 17, 2025 · 8:05 AM UTC

Ensysce Biosciences Secures $4 Million Financing, Unlocking Up to $20 Million in Total Financing to Advance Breakthrough Pain Programs

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November 14, 2025 · 4:15 PM UTC

Ensysce Biosciences Reports Third Quarter 2025 Financial Results

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October 10, 2025 · 8:00 AM UTC

Ensysce Biosciences Releases Symposium Highlights from PAINWeek 2025

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September 4, 2025 · 8:00 AM UTC

Ensysce Biosciences Showcases Urgent Need for Safer Opioids at PAINWeek 2025 Symposium

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