Ensysce Biosciences (ENSC) AI Stock Analysis

• Market Cap: $3.27M
• Dividend Yield: N/A
• Average Volume (3M): 89.63K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.97
• Revenue Growth: 1.51%
• EPS Growth: 77.64%
• Country: US
• Employees: 7
• Sector: Healthcare
• Sector Strength: 45
• Industry: Biotechnology
• EPS (TTM): -1.29
• Shares Outstanding: 3,632,307
• 10 Day Avg. Volume: 106,568
• 30 Day Avg. Volume: 89,627
• PEG Ratio: 0.70
• Price to Book (P/B): 3.83
• Price to Sales (P/S): 2.73
• P/FCF Ratio: >-0.01
• Enterprise Value/Market Cap: 1.59
• Enterprise Value/Revenue: 1.16
• Enterprise Value/Gross Profit: -1.24
• Enterprise Value/Ebitda: -2.70
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 42 Neutral
• Price Target: $0.86 ▼(-14.46% Downside)

The score is driven primarily by weak financial performance (sharp TTM revenue decline, heavy losses, and ongoing cash burn) and bearish technicals (price below key moving averages with negative MACD). Valuation is constrained by negative earnings and no dividend, partially offset by supportive financing and governance-related corporate actions.

Positive Factors

Patent protection for MPAR

A granted USPTO allowance for MPAR (composition and method claims) secures long-duration IP around Ensysce’s overdose-protection platform. Durable patent coverage supports exclusivity, licensing leverage, and higher barriers to competition across opioid and other CNS indications.

Regulatory alignment on PF614 manufacturing

Explicit FDA agreement on CMC approach materially de-risks scale-up and commercial manufacturing pathways for PF614. This regulatory validation shortens time-to-market risk, lowers likelihood of CMC-related delays, and strengthens the case for eventual commercial readiness.

Pivotal Phase 3 progress

Initiation and active enrollment in a pivotal Phase 3 trial is a structural milestone that advances clinical validation of PF614’s abuse-protection concept. Successful pivotal data would enable regulatory filings and create a pathway to commercial revenue long term.

Negative Factors

Sustained cash burn

Significant and persistent negative operating and free cash flow erodes runway absent material funding or revenue, forcing recurring capital raises. Chronic cash burn limits strategic flexibility, increases financing risk, and can pressure clinical program timelines if funding gaps emerge.

Sharp revenue decline and losses

A steep TTM revenue decline coupled with deeply negative margins demonstrates the business remains far from self-sustaining. Persistent operating losses weaken equity stability, heighten dilution risk, and mean successful commercialization of clinical-stage assets is required to alter the structural financial trajectory.

Reliance on dilutive financing and equity actions

Repeated dependence on convertible financings, warrants and recent share-offering filings indicates the company must turn to equity-linked capital to fund development. While extending runway, these instruments are dilutive and can materially dilute shareholders and constrain long-term per-share value if commercialization is delayed.

Ensysce Biosciences Business Overview & Revenue Model

Company Description

Ensysce Biosciences, Inc., a clinical-stage pharmaceutical company, engages in developing various prescription drugs for severe pain relief in opioid addiction, misuse, abuse, and overdose in the United States. It develops products using Trypsin Activated Abuse Protection platform, an abuse-resistant opioid prodrug technology; and Multi-Pill Abuse Resistance platform, an over-dose protection opioid prodrug technology. The company is developing PF614, a TAAP prodrug candidate of oxycodone, which is in Phase II clinical trial for the treatment of acute or chronic pain; and PF614-MPAR, a combination product of PF614 and nafamostat that is in Phase I clinical trial for overdose protection against excessive oral ingestion, as well as an oral and inhalation drug product of nafamostat for use against coronaviral infections and other pulmonary diseases, such as cystic fibrosis. It is also developing PF329, an extended-release prodrug of hydromorphone that is similar to PF614; PF8001 and PF8026 are extended and immediate-release prodrugs of amphetamine for ADHD medication abuse; and PF26810, an extended-release prodrug of methadone for opioid use disorder. The company is based in La Jolla, California.

How the Company Makes Money

Ensysce Biosciences makes money primarily through the development and commercialization of its proprietary drug formulations and technologies. The company's revenue model includes licensing agreements and partnerships with pharmaceutical companies interested in incorporating Ensysce's abuse-deterrent technologies into their own products. Additionally, Ensysce seeks to generate revenue through the direct sale of its developed pharmaceutical products once they receive regulatory approval. Significant partnerships with other biotech and pharmaceutical firms, as well as potential government funding or grants for addressing public health crises like the opioid epidemic, also play a role in the company's earnings strategy.

Ensysce Biosciences Financial Statement Overview

Summary

Overall, Ensysce Biosciences is facing severe financial challenges with declining revenues, negative profitability margins, and a heavily leveraged balance sheet. The company is reliant on external financing to sustain its operations, which poses a significant risk to long-term viability. Immediate strategic financial restructuring is recommended to stabilize the company's finances.

Income Statement

Ensysce Biosciences has shown a significant decline in its revenue, with Total Revenue dropping to zero in the most recent fiscal year. The company is experiencing negative EBIT and EBITDA margins, indicating operational losses. The net profit margin is also negative, reflecting substantial losses. Revenue growth has been negative, showing a concerning trend for the business.

Balance Sheet

The balance sheet reveals high financial leverage with a negative stockholders' equity, suggesting potential insolvency risks. The Debt-to-Equity ratio is unfavorable due to negative equity. However, the company retains a notable amount of cash and short-term investments, providing some liquidity. The equity ratio is negative, showing liabilities exceeding assets.

Cash Flow

Cash flow from operations is deeply negative, indicating significant cash outflows are not being covered by operational activities. The Free Cash Flow is also negative, yet the company has managed to maintain positive financing cash flow, suggesting reliance on external funding. There is no visible growth in free cash flow, which is a concern for sustainability.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	4.49M	5.21M	2.23M	2.52M	3.53M	3.93M
Gross Profit	-4.19M	-2.01M	-5.36M	-17.31M	3.53M	3.93M
EBITDA	-1.92M	-6.73M	-10.72M	-24.22M	-25.93M	834.82K
Net Income	-10.97M	-7.99M	-10.61M	-24.17M	-29.08M	56.77K
Balance Sheet
Total Assets	3.18M	5.60M	2.71M	5.89M	16.42M	351.81K
Cash, Cash Equivalents and Short-Term Investments	1.67M	3.50M	1.12M	3.15M	12.26M	194.21K
Total Debt	364.07K	301.66K	854.70K	4.43M	17.21M	4.27M
Total Liabilities	2.30M	2.22M	3.36M	9.91M	24.58M	7.01M
Stockholders Equity	1.20M	3.71M	-322.86K	-3.71M	-7.88M	-6.44M
Cash Flow
Free Cash Flow	-7.17M	-7.50T	-10.78M	-17.89M	-8.24M	-1.25M
Operating Cash Flow	-7.04M	-7.50T	-10.78M	-17.89M	-8.24M	-1.25M
Investing Cash Flow	-123.64K	0.00	0.00	4.50K	0.00	183.40M
Financing Cash Flow	4.69M	9.88T	8.76M	8.77M	20.31M	1.10M

Ensysce Biosciences Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.01
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For ENSC, the sentiment is Negative. The current price of 1.01 is below the 20-day moving average (MA) of 1.03, below the 50-day MA of 1.46, and below the 200-day MA of 2.04, indicating a bearish trend. The MACD of -0.15 indicates Negative momentum. The RSI at 30.39 is Neutral, neither overbought nor oversold. The STOCH value of 12.92 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for ENSC.

Ensysce Biosciences Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
NBY	54 Neutral	$1.60B	-9.94	-587.58%	―	-74.73%	95.81%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CYCN	47 Neutral	$5.34M	-1.79	-24.80%	―	1371.65%	64.13%
GLMD	44 Neutral	$4.29M	-0.22	-46.34%	―	―	70.71%
ENSC	42 Neutral	$3.27M	-0.14	-270.54%	―	1.51%	77.64%

Ensysce Biosciences Corporate Events

Ensysce Biosciences Shareholders Approve Key Corporate Actions

At its annual meeting of stockholders held on January 7, 2026, Ensysce Biosciences, Inc. secured shareholder approval for several key corporate actions that collectively strengthen its capital structure, governance continuity and financial oversight. Investors approved the full issuance of common stock and the exercise of warrants previously issued to an investor to comply with Nasdaq Listing Rule 5635(d), authorized a substantial increase in shares available under the company’s 2021 Omnibus Incentive Plan from 121,457 to 721,457 to expand its capacity for equity-based compensation, elected two Class I directors, William Chang and Lee Rauch, to serve terms expiring at the 2028 annual meeting, and ratified Baker Tilly US, LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, while a proposed adjournment authority was not brought to a vote.

The most recent analyst rating on (ENSC) stock is a Hold with a $0.98 price target. To see the full list of analyst forecasts on Ensysce Biosciences stock, see the ENSC Stock Forecast page.

Ensysce Biosciences Secures $4M Financing for PF614

On November 14, 2025, Ensysce Biosciences closed a $4 million convertible preferred stock financing, with the potential for an additional $16 million over the next 24 months. This funding will accelerate the Phase 3 clinical program for PF614, a flagship analgesic candidate, and support general corporate initiatives. The financing reflects strong investor confidence in Ensysce’s mission to innovate pain management solutions with built-in abuse and overdose protection.