Ensysce Biosciences Q2 net loss widens on higher R&D costs
ENSC•Outlook
- Company expects cash runway into late 2027, extendable to 2028 if milestones met
- Ensysce plans to advance CY200 through Phase 2 trial and prepare for registrational development
- Company expects continued losses as research and development efforts continue
Overview
- US biotech firm's Q2 net loss widened yr/yr on higher R&D expenses
- Company completed Cy Biopharma acquisition post-quarter, adding CY200 for complex pain
- Acquisition and financings provided about $31 mln post-quarter cash boost
Result drivers and key details
- Higher R&D spending - Co said increased clinical activity for PF614 drove higher research and development expenses in Q2
- Lower grant funding - Co said Q2 federal grant funding fell due to timing of eligible research activities under the MPAR grant
| Metric | Actual |
|---|---|
| Q2 Loss Per Share | $0.20 |
| Q2 Net Loss | $2.60 mln |
Wall Street's median 12-month price target for Ensysce Biosciences Inc is $8.25, about above its August 12 closing price of .
