Ensysce Biosciences reports Q1 net loss of $3.1M; advances PF614 Phase 3 plans

Ensysce Biosciences, Inc.

2024-Q1 EPS reported -$0.55 revenue$305,722

Net loss attributable to common stockholders was $3.1M for Q1 2024, vs $2.2M in Q1 2023.
Cash increased to $3.4M at March 31, 2024 from $1.1M at Dec 31, 2023, boosted by $6.8M in warrant exercises.
R&D expenses decreased to $0.8M from $1.8M YoY; G&A decreased to $1.4M from $1.6M.
FDA granted Breakthrough Therapy designation for PF614-MPAR in January; Phase 3 trial for PF614 expected to start H2 2024.
Federal grant revenue fell to $0.3M from $0.8M due to completion of MPAR grant in Dec 2023.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Ensysce Biosciences, Inc. reported first quarter ended March 31, 2024 results: net income $3.1 million.

Period: first quarter ended March 31, 2024
Net income: $3.1 million
Result: reported results

Exact text from the filing

On May 13, 2024, Ensysce Biosciences, Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0001493152-24-018793

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