Ensysce Biosciences (ENSC) AI Stock Analysis

• Market Cap: $1.42M
• Dividend Yield: N/A
• Average Volume (3M): 89.63K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.02
• 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: 0.12
• Enterprise Value/Revenue: 0.04
• Enterprise Value/Gross Profit: -0.04
• Enterprise Value/Ebitda: -0.09
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -0.05
• Revenue Forecast (FY): N/A

• Rating: 43 Neutral
• Price Target: $0.68 ▼(-32.28% Downside)
• Action: Reiterated Date: 02/04/26
• Date: Action: Reiterated 02/04/26

The score is primarily held down by weak financial performance (shrinking TTM revenue, very negative margins, and ongoing cash burn) and bearish technicals (price below key moving averages with negative MACD). Corporate events provide some offset via added financing and governance/capital-structure actions, but valuation remains hard to justify given ongoing losses and no dividend support.

Positive Factors

Prodrug-based abuse-deterrent platform

Ensysce's prodrug-focused R&D targets abuse-deterrent and overdose-protective opioid/CNS medicines, a structural market need amid opioid regulation. Proprietary formulation science can create durable differentiation versus generics, support regulatory exclusivity, and enable premium positioning for prescribers and payers.

Committed financing for Phase 3 PF614

The $4M close and up to $16M contingent funding materially extend runway for Phase 3 PF614, enabling a key clinical de-risking milestone. Secured investor funding signals continued external support and reduces near-term financing pressure, improving prospects for program progression and partner interest.

Governance and incentive structure strengthened

Shareholder approvals expanded equity-based compensation, elected directors, and ratified the auditor, strengthening governance and retention tools. A larger incentive pool helps attract/retain scarce biotech talent long-term, while governance continuity supports strategic execution through clinical development phases.

Negative Factors

Heavy cash burn

Sustained negative operating and free cash flow (~-$7.1M TTM) signals dependence on external capital to fund operations and trials. Persistent cash burn heightens refinancing risk, may force dilutive financings, and limits the company's ability to sustain multi-year clinical programs without partner or investor support.

Declining revenue and deep losses

A ~39% TTM revenue decline combined with deeply negative margins (net margin ~-275%) indicates the business lacks commercial traction and is not covering costs. Over time, this erodes the equity base, constrains reinvestment in R&D, and raises the bar on future financing and partner negotiations.

Very small operating scale

A seven-person headcount reflects limited internal capacity to run concurrent clinical, regulatory, and commercial activities. This structural constraint increases reliance on CROs, partners, and external hires, raising execution risk and program coordination costs as the company advances late-stage trials.

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

High-risk financial profile: TTM revenue fell ~39%, margins remain deeply negative (net margin ~-275%) with ongoing large losses, and operating/free cash flow are both about -$7.1M. The balance sheet shows manageable leverage and improved equity versus prior negative-equity years, but persistent losses and cash burn remain the dominant overhang (with added uncertainty from potentially inconsistent 2024 cash-flow figures).

Income Statement

TTM (Trailing-Twelve-Months) revenue declined sharply (down ~39%), and profitability remains very weak with negative gross profit and deep operating losses (net margin roughly -275%). While 2024 showed modest revenue growth versus 2023, margins have stayed consistently negative across recent periods, indicating the business is still far from sustainable profitability.

Balance Sheet

Leverage looks moderate in the most recent periods (TTM debt-to-equity ~0.32; 2024 ~0.08), and equity has recovered from earlier years when it was negative (2021–2023). The key weakness is ongoing large losses, which are driving strongly negative returns on equity in TTM and 2024 and could pressure the equity base again if losses persist.

Cash Flow

Cash burn remains significant: TTM operating cash flow and free cash flow are both around -$7.1M. While free cash flow improved versus the prior period (positive growth rate in TTM), the company still relies on external funding to sustain operations. Additionally, 2024 cash flow figures appear extremely outsized relative to revenue, suggesting potential data quality issues and adding uncertainty to trend interpretation.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Mar 2022	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: Neutral

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 above the 20-day moving average (MA) of 0.49, above the 50-day MA of 0.79, and below the 200-day MA of 1.79, indicating a bearish trend. The MACD of -0.13 indicates Negative momentum. The RSI at 31.09 is Neutral, neither overbought nor oversold. The STOCH value of 21.53 is Neutral, 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
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
CYCN	47 Neutral	$5.18M	-1.71	-24.80%	―	1371.65%	64.13%
GLMD	44 Neutral	$3.15M	-0.19	-46.34%	―	―	70.71%
ENSC	43 Neutral	$1.42M	-0.06	-270.54%	―	1.51%	77.64%
NBY	41 Neutral	$43.11M	―	-587.58%	―	-74.73%	95.81%

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.