ENSC on Nasdaq

Ensysce Biosciences

Logo: ensysce.com3

Ensysce Biosciences is an American biotechnology company that raised $102.6 million in 2026 (SEC Form D).1 It was founded in 2003.1 It is headquartered in La Jolla, California.1 Its shares trade on Nasdaq under the symbol ENSC.1

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Last updated Oct 21, 2026.

Overview

2003Founded1

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  • TickerENSC on Nasdaq1
  • Industrybiotechnology industry1
  • HeadquartersLa Jolla, California1
  • Websiteensysce.com
  • Incorporated inDE4
  • Business address7946 Ivanhoe Avenue, Suite 201, La Jolla, Ca 920374
  • Filer categoryNon-accelerated filer, Smaller reporting company4
  • Legal formCorporation
Ensysce Biosciences image from its website
Image: ensysce.com3

May of 2023. PF614-MPAR was granted Breakthrough Therapy designation by the FDA in January 2024.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

-202.1%Operating margin6
-200.8%Net margin6
-2.8%Revenue growth, 20256
-316.6%Return on equity6
-$7.9MFree cash flow6

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Research and development100¢$10.4M

Out of $5.1M in revenue.6 The company lost money this year.

Financial statements

Revenue789106$5.1M in 2025+29% since 2020
0$2.0M$4.0M$6.0M2020: $3.9M$3.9M20202021: $3.5M$3.5M2021−10%2022: $2.5M$2.5M2022−29%2023: $2.2M$2.2M2023−12%2024: $5.2M$5.2M2024+134%2025: $5.1M$5.1M2025−3%
Operating income11789106-$10.2M in 2025+208% since 2019
-$30.0M-$20.0M-$10.0M02019: -$3.3M-$3.3M20192020: -$1.6M-$1.6M2020−52%2021: -$19.9M-$19.9M2021+1132%2022: -$24.2M-$24.2M2022+22%2023: -$10.7M-$10.7M2023−56%2024: -$6.7M-$6.7M2024−37%2025: -$10.2M-$10.2M2025+52%
Net income1189106-$10.2M in 2025+853% since 2019
-$30.0M-$20.0M-$10.0M0$10.0M2019: -$1.1M-$1.1M20192020: $4.3M$4.3M20202021: -$29.1M-$29.1M20212022: -$24.2M-$24.2M2022−17%2023: -$10.6M-$10.6M2023−56%2024: -$8.0M-$8.0M2024−25%2025: -$10.2M-$10.2M2025+27%

Every line of the income statement as filed: the last 2 fiscal years, latest first.6

Period ending2025-12-312024-12-31
Federal grants$5.1M$5.2M
Research and development$10.4M$7.2M
General and administrative$4.9M$4.7M
Total operating expenses$15.3M$11.9M
Loss from operations-$10.2M-$6.7M
Change in fair value of liability classified warrants$10.1K$16.3K
Interest expense, net-$18.8K-$1.3M
Other income and expense, net$73.4K$17.3K
Total other income (expense), net$64.8K-$1.3M
Net loss-$10.2M-$8.0M
Net loss attributable to noncontrolling interests-$487-$74
Deemed dividend related to warrants down round provision$290
Net loss attributable to common stockholders-$10.2M-$8.0M
Net loss per share attributable to common stockholders, basic-$3.98-$11.45
Net loss per share attributable to common stockholders, diluted-$3.98-$11.45
Weighted average common shares outstanding, basic2.6M shares697.7K shares
Weighted average common shares outstanding, diluted2.6M shares697.7K shares

Compare Ensysce Biosciences with another company

Corporate structure

Ensysce Biosciences sits at the top of its group. 1 entity, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Ensysce Biosciences

  • Ensysce Biosciences La Jolla, California

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Ensysce Biosciences reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, net$124.1K6 Dec 31, 2025$1517 Dec 31, 2020+82104.6%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$4.3M6 Dec 31, 2025$3.5M6 Dec 31, 2024+23.1%

Properties, in its own words

Our principal executive office is located at 7946 Ivanhoe Ave., Suite 201 in La Jolla, California, where we lease a total of 850 square feet of office space that we use for our administrative activities. All development activities are undertaken at contract research organizations. The lease expires in October 2026. We believe that our current arrangements will be sufficient to meet our needs for the foreseeable future, and that, should it be needed, suitable space will be available to accommodate our administrative activities.

Item 2 of the 10-K filed Mar 30, 2026.5

Leadership

Who has led Ensysce Biosciences, and when. Pick a name to see everywhere that person has worked.

Board members and other officers (18)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive OfficerDavid Lynn Humphrey named Oct 6, 2021 to Aug 20, 202635

Former names

  • Leisure Acquisition Corp.Oct 3, 2017 to Jun 30, 20214

Timeline

  1. Sep 29, 20268-K Bylaws or fiscal year changed36
  2. Aug 25, 20268-K Other events37
  3. Aug 24, 20268-K Other events38
  4. Aug 13, 20268-K Results of operations39
  5. Aug 6, 20268-K Entered a material agreement; Completed an acquisition or sale; Unregistered sale of shares40
  6. Aug 6, 20268-K Financial statements and exhibits41
  7. Jul 15, 20268-K Executive or director change42
  8. May 22, 20268-K Listing notice or transfer43
  9. May 15, 20268-K Results of operations44
  10. Apr 8, 20268-K Entered a material agreement; Unregistered sale of shares; Other events45
  11. Apr 3, 20268-K Executive or director change46
  12. Mar 30, 20268-K Executive or director change47
  13. Jul 2, 2021New chief executive Lynn Kirkpatrick becomes CEO14
  14. Dec 1, 2017New chief executive Daniel B. Silvers becomes CEO15
  15. 2003Founded Founded1

Calendar

Coming up

  1. Nov 13, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported ($1.29) a share, on Nov 14, 2025.48

When it reported results

  1. Aug 13, 2026Reported quarterly or annual results39
  2. May 15, 2026Reported quarterly or annual results44
  3. Mar 30, 2026Reported quarterly or annual results49
  4. Nov 14, 2025Reported quarterly or annual results50
  5. Aug 13, 2025Reported quarterly or annual results51
  6. May 13, 2025Reported quarterly or annual results52
  7. Mar 10, 2025Reported quarterly or annual results53
  8. Nov 12, 2024Reported quarterly or annual results54

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

319 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 82 major events, 27 insider forms, 21 large holders, 8 private raises, 161 other. The latest 20:

  1. Sep 29, 20268-K EDGAR
  2. Aug 25, 20268-K EDGAR
  3. Aug 24, 20268-K EDGAR
  4. Aug 20, 2026D EDGAR
  5. Aug 18, 2026SCHEDULE 13D/A EDGAR
  6. Aug 18, 20264 EDGAR
  7. Aug 13, 202610-Q EDGAR
  8. Aug 13, 20268-K EDGAR
  9. Aug 10, 20263 EDGAR
  10. Aug 6, 20268-K/A EDGAR
  11. Aug 6, 20268-K EDGAR
  12. Jul 15, 20268-K EDGAR
  13. Jun 26, 2026EFFECT EDGAR
  14. Jun 4, 2026S-3 EDGAR
  15. May 22, 20268-K EDGAR
  16. May 15, 202610-Q EDGAR
  17. May 15, 20268-K EDGAR
  18. Apr 30, 2026S-8 EDGAR
  19. Apr 15, 2026EFFECT EDGAR
  20. Apr 14, 2026CORRESP EDGAR

The 319 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

8 open-market trades by officers, directors and large owners since October 2021: 8 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 7, 2026GOWER BOB GDirectorBuy400,000$0.50$200.0KForm 4
Apr 23, 2026GOWER BOB GDirectorBuy508,614$0.48$244.1KForm 4
Mar 2, 2023GOWER BOB GDirectorBuy90,287$0.49$44.2KForm 4
Mar 1, 2023GOWER BOB GDirectorBuy270,000$0.48$129.6KForm 4
Feb 28, 2023GOWER BOB GDirectorBuy109,300$0.49$53.6KForm 4
Dec 9, 2022GOWER BOB GDirectorBuy357,143$1.40$500.0KForm 4
May 26, 2022Kirkpatrick LynnChief Executive OfficerBuy27,000$0.53$14.3KForm 4
May 25, 2022Kirkpatrick LynnChief Executive OfficerBuy70,000$0.49$34.3KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2024Dr. Lynn KirkpatrickPhD.$432.0K$442.4K65
2024Dave Humphrey56$360.9K$371.3K65
2024Geoff Birkett62$333.6K$343.6K65
2023Chief Executive Officer$404.9K$508.6K65
2023Chief Financial Officer$338.2K$441.9K65
2023Chief Commercial Officer$312.6K$392.4K65

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Aug 5, 2026Raised $77.2 million in a private offering of equity Form D: 44 investors so far Form D
  2. Apr 23, 2025Raised $2.2 million in a private offering of securities Form D: 8 investors so far Form D
  3. Mar 31, 2025Raised $1.1 million in a private offering of securities Form D: 8 investors so far Form D
  4. Aug 29, 2024Raised $5.1 million in a private offering of securities Form D: 4 investors so far Form D
  5. Feb 14, 2024Raised $4.7 million in a private offering of securities Form D: 4 investors so far Form D
  6. Feb 2, 2023Raised $2.8 million in a private offering of securities Form D: 8 investors so far Form D
  7. Jun 30, 2022Raised $4.2 million in a private offering of debt Form D: $8.5 million offered in all Form D
  8. Sep 24, 2021Raised $5.3 million in a private offering of debt Form D: $15.9 million offered in all Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Jane Street Group, LLC208,833$60.6K0.0%+195,263
Adage Capital Partners Gp, L.l.c.149,711$43.4K0.0%No change
Perceptive Advisors LLC86,666$25.1K0.0%No change
Citadel Advisors LLC86,193$25.0K0.0%+28,830
XTX Topco Ltd77,005$22.3K0.0%+52,642
Geode Capital Management, LLC62,188$18.0K0.0%−11,692
Susquehanna International Group, Llp34,280$9.9K0.0%New
Tru Independence Asset Management 2, LLC13,000$3.8K0.0%No change
Two Sigma Securities, LLC12,953$3.8K0.0%New
Vanguard Capital Management LLC12,854$3.7K0.0%No change
Tower Research Capital LLC (TRC)6,094$1.8K0.0%No change
Barclays PLC1,440$4180.0%New
SBI Securities Co., Ltd.641$1860.0%+155
Virtu Financial LLC95,391$280.0%+82,078
BlackRock, Inc.65$190.0%No change
Hrt Financial LP54,429$150.0%New
Clear Street Group Inc.1$00.0%New

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How Ensysce Biosciences is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGAREnsysce Biosciences, Inc.2
  • CIK0001716947
  • Employer ID (EIN)82-27552875
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsDecember 312
  • Industry code (SIC)2834 Pharmaceutical Preparations2
  • SEC reviewing officeOffice of Life Sciences, Division of Corporation Finance2
  • Business address7946 Ivanhoe Avenue, Suite 201, La Jolla, CA 920372
  • Phone(858) 263-41962
  • Shares outstanding19,456,794 as of Aug 12, 202613
  • Public float$5.3M as of Jun 30, 20255
  • AuditorBaker Tilly US, LLP, San Diego, California PCAOB ID 23; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceOct 3, 20172
  • Filings543 in all: 8-K (125), 4 (47), 425 (35), CORRESP (31), 424B3 (29), 10-Q (27), 3 (25), UPLOAD (22)2
    All 48 form types

    EFFECT (21), DEFA14A (15), SC 13G (15), S-1/A (14), DEF 14A (13), S-3 (12), SC 13G/A (12), PRE 14A (10), 10-K (9), D (8), S-1 (7), S-4/A (6), SCHEDULE 13G/A (6), 424B5 (5), S-8 (5), SC 13D (5), 424B8 (4), 424B4 (3), POS AM (3), SC 13D/A (3), 10-K/A (2), 8-A12G/A (2), 8-K/A (2), ARS (2), POS EX (2), SEC STAFF LETTER (2), 8-A12B (1), 8-A12G (1), AW (1), CERTNAS (1), DEL AM (1), DRS (1), NT 10-Q (1), PREM14A (1), PRER14A (1), RW (1), S-3/A (1), S-4 (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Mar 30, 2026
    Quarterly report (10-Q) Aug 13, 2026
    Proxy statement (DEF 14A) Dec 2, 2025
    Latest 8-K (8-K) Sep 29, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, $0.0001 par value per shareENSCNasdaq
Warrants, to purchase one share of Common StockENSCW

From the cover page of the 10-K filed Mar 30, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Ensysce Biosciences names in Item 1A of its 10-K filed Mar 30, 2026: 49 risks under these headings, as written.5

  • Risks Related to Our Business, Financial Condition and Capital Requirements
  • There is substantial doubt about our ability to continue as a going concern.
  • We are a clinical-stage pharmaceutical company with a limited operating history. We have incurred significant financial losses since our inception and anticipate that we will continue to incur significant financial losses for the foreseeable future.
  • Our ability to generate revenue from any of our potential products is subject to our ability to obtain regulatory approval and fulfill numerous other requirements and we may never be successful in generating revenues or becoming profitable.
  • We require substantial additional funding. If we are unable to raise capital when needed, we could be forced to delay, reduce or terminate our product discovery and development programs or commercialization efforts.
  • Our business is highly dependent on the success of our product candidates. If we are unable to successfully complete clinical development, obtain regulatory approval for or commercialize one or more of our product candidates, or if we experience delays in doing so, our business will be materially harmed.
  • We depend heavily on the success of our lead product candidate PF614, which is currently in clinical trials. Our clinical trials of PF614 may not be successful. If we are unable to commercialize PF614 or experience significant delays in doing so, our business will be materially harmed.
  • Due to the significant resources required for the development of our product pipeline, and depending on our ability to access capital, we must prioritize the development of certain product candidates over others. Moreover, we may fail to expend our limited resources on product candidates or indications that may have been more profitable or for which there is a greater likelihood of success.
  • Our PF614 and PF614-MPAR product candidates may not be successful in limiting or impeding abuse, overdose or misuse or providing additional safety upon commercialization.
  • If we do not achieve our projected development and commercialization goals within the timeframes we expect, the development and commercialization of our product candidates may be delayed, and our business and results of operations may be harmed.
  • Competitive products may reduce or eliminate commercial opportunity for our product candidates, if approved. If our competitors develop technologies or product candidates more rapidly than we do, or their technologies or product candidates are more effective or safer than any such technologies or product candidate of ours, our ability to develop and successfully commercialize our own technologies or product candidates may be adversely affected.
  • Our business could be harmed if we lose the services of our key personnel or if we are unable to hire additional highly qualified employees.
The other 38 risks
  • Our employees, independent contractors, principal investigators, consultants, commercial collaborators, service providers and other vendors may engage in misconduct or other improper activities, including noncompliance with regulatory standards and requirements, which could have an adverse effect on our results of operations.
  • Some of our programs are partially supported by government grant awards, which may not be available to us in the future.
  • Risks Related to Our Dependence on Third-Party Providers
  • We currently rely on, and expect to rely on in the future, third parties to conduct our clinical trials, and those third parties may not perform satisfactorily, including failing to meet deadlines for completing such trials, failing to satisfy legal or regulatory requirements or terminating the relationship.
  • We expect to be completely dependent on third parties to manufacture our product candidates, and our commercialization of our product candidates could be halted, delayed or made less profitable if those third parties fail to maintain a compliance status acceptable to the FDA or comparable foreign regulatory authorities, fail to provide to us with sufficient quantities of our product candidates or fail to do so at acceptable quality levels or prices.
  • Risks Related to Product Development, Regulatory Approval, Manufacturing and Commercialization
  • The regulatory approval processes of the FDA and comparable foreign authorities are lengthy, time-consuming and inherently unpredictable, and if we are ultimately unable to obtain regulatory approval for our product candidates, our business will be substantially harmed.
  • If our clinical trials fail to replicate positive results from earlier preclinical studies or clinical trials conducted by us or third parties, we may be unable to successfully develop, obtain regulatory approval for, or commercialize our product candidates.
  • The FDA, EMA or comparable foreign regulatory authorities may disagree with our regulatory plan for our product candidates.
  • Interim topline and preliminary data from our clinical trials that we announce or publish from time to time may change as more patient data become available and are subject to audit and verification procedures that could result in material changes in the final data.
  • Even if we complete the necessary preclinical studies and clinical trials, the marketing approval process is expensive, time-consuming and uncertain and may prevent us from obtaining approvals for the commercialization of our product candidates.
  • We may incur unexpected costs or experience delays in completing, or ultimately be unable to complete, the preclinical and clinical studies necessary for development and commercialization of our product candidates.
  • If we encounter difficulties enrolling patients in our clinical trials, our clinical development activities could be delayed or otherwise adversely affected.
  • Fast Track designation by the FDA for PF614 for chronic pain may not lead to a faster development or regulatory review or approval process and does not assure FDA approval.
  • If the FDA does not conclude that certain of our product candidates satisfy the requirements for the Section 505(b)(2) regulatory approval pathway, or if the requirements for such product candidates under Section 505(b)(2) are not as we expect, the approval pathway for those product candidates will likely take significantly longer, cost significantly more and entail significantly greater complications and risks than anticipated, and in either case may not be successful.
  • If we submit a 505(b)(2) application that references a third-party product, we may be subject to a patent infringement suit and the approval of our product may be delayed.
  • Changes in methods of product candidate manufacturing or formulation may result in additional costs or delay.
  • Our product candidates may cause undesirable side effects or have other properties that could delay or prevent their regulatory approval, limit the commercial profile of an approved label, or result in significant negative consequences following regulatory approval, if obtained.
  • FDA’s evolving standards for the approval of opioid products may delay or prevent approval of our product candidates.
  • Product liability lawsuits against us or any of our future collaborators could divert our resources and attention, cause us to incur substantial liabilities and limit commercialization of our product candidates.
  • Oxycodone is a Schedule II controlled substance under the federal CSA, and any failure to comply with the CSA or its state equivalents would have a negative impact on our business.
  • Manufacturing of oxycodone is subject to annual quotas that limit the amount of API and dosage forms that can be produced in any given year; the failure of our CMOs to obtain the necessary manufacturing and/or procurement quota would have a negative impact on our business.
  • Risks Related to our Intellectual Property
  • If we are unable to obtain and maintain patent protection for our products candidates, or if the scope of the patent protection obtained is not sufficiently broad, our competitors could develop and commercialize product candidates that are similar or identical to our product candidates, and our ability to successfully commercialize our product candidates may be adversely affected.
  • We may face litigation from third parties claiming that our products or business infringe, misappropriate, or otherwise violate their intellectual property rights, or seeking to challenge the validity of our patents.
  • We may become involved in lawsuits to protect or enforce our patents or other intellectual property, which could be expensive, time consuming and unsuccessful.
  • The expiration or loss of patent protection may adversely affect our future revenues and operating earnings.
  • If we do not obtain protection under the Hatch-Waxman Amendments by extending the patent term, our business may be harmed.
  • We may not be able to protect our intellectual property rights throughout the world, which could negatively impact our business.
  • Our reliance on third parties requires us to share our trade secrets, which increases the possibility that a competitor will discover them or that our trade secrets will be misappropriated or disclosed and if we are unable to protect the confidentiality of our trade secrets, the value of our technology could be materially adversely affected and our business would be harmed.
  • Intellectual property rights do not necessarily address all potential threats to our business.
  • The validity, scope and enforceability of any patents listed in the Orange Book that cover our product candidates can be challenged by third parties.
  • Cyber-attacks or other failures in our telecommunications or information technology systems, or those of our collaborators, CROs, third-party logistics providers, distributors or other contractors or consultants, could result in information theft, data corruption and significant disruption of our business operations.
  • Risks Related to the Ownership of Common Stock and Financial Reporting
  • Raising additional capital has caused, and may in the future cause, dilution to our stockholders, adversely affect the market price of our common stock, restrict our operations or require us to relinquish rights to our technologies or product candidates.
  • If we are unable to regain and maintain compliance with the listing standards of Nasdaq, our common stock could be delisted and may become subject to “penny stock” rules, which could have a material adverse effect on the liquidity of our common stock, the ability of investors to sell their shares and our ability to raise funding.
  • We are a smaller reporting company within the meaning of the Securities Act, and if we take advantage of certain exemptions from disclosure requirements available to “smaller reporting companies,” this could make our securities less attractive to investors and may make it more difficult to compare our performance with other public companies.
  • Our internal controls over financial reporting may not meet all of the standards contemplated by Section 404 of Sarbanes-Oxley Act, and failure to maintain effective internal controls over financial reporting in accordance with Section 404 of the Sarbanes-Oxley Act could impair our ability to produce timely and accurate financial statements or comply with applicable regulations and have a material adverse effect on our business.
  • The amount of our future losses is uncertain and our quarterly and annual operating results may fluctuate significantly or fall below the expectations of investors or securities analysts, each of which may cause our stock price to fluctuate or decline.
  • Warrants for shares of our common stock, if exercised, will increase the number of shares eligible for future resale in the public market and result in dilution to our stockholders.
  • Our issuance of additional capital stock in connection with financings, acquisitions, investments and our 2021 Omnibus Incentive Plan will dilute all other stockholders.

Legal proceedings

From time to time, we could become involved in disputes and various litigation matters that arise in the normal course of business. These may include disputes and lawsuits related to intellectual property, licensing, contract law and employee relations matters. Periodically, we review the status of significant matters, if any exist, and assess the potential financial exposure. If the potential loss from any claim or legal claim is considered probable and the amount can be estimated, we accrue a liability for the estimated loss. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based on the best information available at the time. As additional information becomes available, we reassess the potential liability related to pending claims and litigation. As of the date hereof, we are not a party to any material legal proceeding.

The opening of Item 3, Legal Proceedings.5

Sources

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