Ensysce Biosciences, Inc. (NASDAQ: ENSC) reported its financial results for the third quarter ended September 30, 2026, and announced the completion of an acquisition. The company ended the quarter with $29.7 million in cash and cash equivalents, an increase from $4.3 million at the end of 2025. This cash position was bolstered by $21.1 million in net cash provided by financing activities, primarily from a Series C private placement that raised $19.6 million.
On August 12, 2026, Ensysce completed the acquisition of Cy Biopharma, Inc. This transaction added CY200, a clinical-stage neuroplastogenic candidate for Complex Regional Pain Syndrome (CRPS), to Ensysce’s pipeline. CY200 received FDA Orphan Drug Designation. In September 2026, Ensysce submitted a Phase 2a protocol for CY200 to the UK Medicines and Healthcare products Regulatory Agency (MHRA). As of November 6, 2026, the MHRA and the research ethics committee reviewing the protocol requested additional information; the company is currently preparing its response.
Separately, Ensysce completed enrollment in Part 3 of the PF614-MPAR-102 study. This study, funded by a $15.1 million multi-year grant from the National Institute on Drug Abuse (NIDA), evaluates the safety and overdose protection profile of PF614-MPAR. As of September 30, 2026, approximately $2.7 million remained available under the NIDA grant to support the completion of the study and long-term non-clinical work.
Financially, Ensysce reported a net loss of $82.1 million for the third quarter of 2026, compared to a loss of $3.7 million in the prior year. This significant increase was driven by a non-cash acquired in-process research and development (IPR&D) charge of approximately $79.9 million related to the Cy Biopharma acquisition. Research and development expenses for the quarter were $3.2 million, while general and administrative expenses were $1.6 million. Federal grants provided $2.2 million in funding during the quarter, up from $0.5 million in the same period in 2025.
