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ENSCENSYSCE BIOSCIENCES, INC.

Is Ensysce Biosciences struggling financially?

Yes, by its own account. Ensysce Biosciences told the SEC on 15 May 2026, in Form 10-Q, that there is substantial doubt about its ability to continue as a going concern.

Going concern disclosed May 2026

15/100

Critical

Cries for help

  • Needs to raise money

    We are a clinical stage pharmaceutical company that will need to raise additional capital to continue to operate as a going concern.

    Form 10-K, filed 30 Mar 2026. Read it on SEC.gov

Signs of a way out

  • Regulatory win

    We have also received an IND for PF614-MPAR and have completed an initial Phase 1 study. We have been granted Breakthrough Therapy designation by the FDA for PF614-MPAR.

    Form 10-K, filed 30 Mar 2026. Read it on SEC.gov

Sector
Biotech/Pharma
Market cap
$7.3M
Source filing
10-Q 15 May 2026
Balance sheet
30 Jun 2026

Cash runway

  • 0months

    If the burn speeds up

    Empty by Jun 2026

  • 1month

    If it eases off

    Empty by Jul 2026

Both rows are the same reported burn flexed 15% either way, and neither assumes the company raises a cent.

Out of cashTwo years or more

The runway math

Cash and short-term investments

$677K

÷

Cash burned over the last 12 months

$16.9M

What Ensysce Biosciences told the SEC

…will require significant additional financing. There can be no assurance the Company will be able to obtain such funds. These matters, among others, raise substantial doubt about the Company’s ability to continue as a going concern. While the Company believes in the viability of its strategy to ultimately realize revenues and in its ability to raise additional funds, management cannot be certain that additional…

ENSYSCE BIOSCIENCES, INC., Form 10-Q, filed 15 May 2026.

Read the filing on SEC.gov

What this means

  • Not a bankruptcy filing, and not a prediction.
  • It is the company’s own statement, agreed with its auditor, that the doubt is material enough to disclose.
  • The runway is arithmetic on two reported numbers, not a forecast. Companies carry this language for years, raise money and keep going.

What else the numbers show

  • 452.0% share-count increase The company issued stock. Each share now owns 81.9% less of the business than a year ago, before any change in the price.
  • Cash burn is increasing It is spending 24% more cash per year than it was, so the runway above shortens even if nothing else changes.

Other Biotech/Pharma companies that filed the doubt