Ensysce Biosciences, Inc.
ENSCHealthcare|Biotechnology|US
$0.33
-0.03 (-8.95%)
DCF Value
$0.06
Cash / Share
$0.05
Financials
Financial Snapshot
Market Cap
$6.4M
Enterprise Value
$5.9M
Revenue (TTM)
$1.2M
Net Income (TTM)
-$12.6M
Cash & Investments
$676.7K
Net Cash
$479.9K
Free Cash Flow (TTM)
-$9.0M
Operating CF (TTM)
-$8.9M
Debt/Equity
-0.25
Cash Runway & Burn Rate
Cash on Hand
$676.7K
Quarterly Burn
$2.2M
Monthly Burn
$737.9K
Est. Runway
~0.3 quarters
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Investments | $2.1M | $1.7M | $341.5K | $194.2K | $12.3M | $3.1M | $1.1M | $3.5M | $4.3M | $676.7K | |
| Operating Cash Flow | -$251.8K | -$1.2M | $11.0M | -$1.2M | -$8.2M | -$17.9M | -$10.8M | -$7.5M | -$7.8M | -$8.9M | |
| Free Cash Flow | -$251.8K | -$1.2M | $11.0M | -$1.2M | -$8.2M | -$17.9M | -$10.8M | -$7.5M | -$7.9M | -$9.0M | |
| Capital Expenditure | $0.00 | $0.00 | $4.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$123.6K | -$123.6K | |
| Financing Cash Flow | $202.3M | -$32.0K | -$11.0M | $1.1M | $20.3M | $8.8M | $8.8M | $9.9M | $8.7M | $7.4M |
R&D Spending
R&D (TTM)
$12.4M
R&D Intensity
1063.9%
R&D Growth vs Prior
+19.4%
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $1.8M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.2M | |
| R&D Expense | $0.00 | $0.00 | $3.4M | $4.4M | $4.7M | $19.8M | $7.6M | $7.2M | $10.4M | $12.4M | |
| R&D % of Revenue | — | — | 192.9% | — | — | — | — | — | — | 1063.9% | |
| SG&A | $146.7K | $0.00 | $6.9M | $1.2M | $18.7M | $6.9M | $5.4M | $4.7M | $4.9M | $4.8M |
Income Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $0.00 | $0.00 | $1.8M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.2M | |
| Cost of Revenue | $0.00 | $1.6M | $3.4M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Gross Profit | $0.00 | -$1.6M | -$1.6M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.2M | |
| R&D | $0.00 | $0.00 | $3.4M | $4.4M | $4.7M | $19.8M | $7.6M | $7.2M | $10.4M | $12.4M | |
| SG&A | $146.7K | $0.00 | $6.9M | $1.2M | $18.7M | $6.9M | $5.4M | $4.7M | $4.9M | $4.8M | |
| Operating Income | -$147.0K | -$959.0K | -$8.6M | -$1.6M | -$19.9M | -$24.2M | -$10.7M | -$6.7M | -$10.2M | -$12.7M | |
| Interest Expense | $0.00 | $0.00 | $0.00 | $995.5K | $1.3M | $109.5K | $353.9K | $1.3M | $18.8K | $16.0K | |
| Pretax Income | -$27.6K | $2.7M | -$10.1M | -$160.9K | -$29.1M | -$24.2M | -$10.6M | -$8.0M | -$10.2M | -$12.6M | |
| Net Income | -$31.2K | -$1.3M | -$10.1M | $56.8K | -$29.1M | -$24.2M | -$10.6M | -$8.0M | -$10.2M | -$12.6M | |
| EPS (Diluted) | -0.01 | -0.22 | -1.66 | 0.56 | -355.68 | -139.44 | -4.69 | -4.57 | -3.98 | -2.52 | |
| EBITDA | -$27.6K | $2.7M | -$8.6M | -$1.6M | -$27.9M | -$24.1M | -$10.3M | -$6.7M | -$10.2M | -$12.6M | |
| Shares Out. (M) | 5.98 | 6.01 | 6.09 | 6.37 | 0.08 | 0.18 | 2.26 | 1.75 | 25.57 | 13.04 |
Balance Sheet
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.1M | $1.7M | $341.5K | $194.2K | $12.3M | $3.1M | $1.1M | $3.5M | $4.3M | $676.7K | |
| Short-Term Investments | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Current Assets | $2.3M | $1.9M | $618.6K | $347.9K | $15.7M | $5.3M | $2.3M | $5.3M | $7.2M | $2.8M | |
| Total Assets | $202.4M | $204.8M | $623.9K | $351.8K | $16.4M | $5.9M | $2.7M | $5.6M | $7.5M | $3.0M | |
| Total Current Liabilities | $156.2K | $437.9K | $7.3M | $7.0M | $16.5M | $9.5M | $3.3M | $2.2M | $4.6M | $4.1M | |
| Long-Term Debt | $0.00 | $0.00 | $0.00 | $0.00 | $4.4M | $140.1K | $0.00 | $0.00 | $0.00 | $0.00 | |
| Total Liabilities | $7.2M | $7.4M | $7.3M | $7.0M | $24.6M | $9.9M | $3.4M | $2.2M | $4.6M | $4.1M | |
| Stockholders' Equity | $195.3M | $197.4M | -$6.7M | -$6.4M | -$7.9M | -$3.7M | -$322.9K | $3.7M | $3.2M | -$781.7K | |
| Retained Earnings | -$31.2K | $2.1M | -$56.0M | -$56.0M | -$85.8M | -$110.9M | -$121.6M | -$129.5M | -$139.7M | -$145.8M |
Cash Flow Statement
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$251.8K | -$1.2M | $11.0M | -$1.2M | -$8.2M | -$17.9M | -$10.8M | -$7.5M | -$7.8M | -$8.9M | |
| Capital Expenditure | $0.00 | $0.00 | $4.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | -$123.6K | -$123.6K | |
| Free Cash Flow | -$251.8K | -$1.2M | $11.0M | -$1.2M | -$8.2M | -$17.9M | -$10.8M | -$7.5M | -$7.9M | -$9.0M | |
| Investing Cash Flow | -$200.0M | $838.6K | -$566.3K | $183.4M | $0.00 | $4.5K | $0.00 | $0.00 | -$123.6K | -$123.6K | |
| Financing Cash Flow | $202.3M | -$32.0K | -$11.0M | $1.1M | $20.3M | $8.8M | $8.8M | $9.9M | $8.7M | $7.4M | |
| Issuance of Stock | $202.3M | -$32.0K | -$8.6K | $0.00 | $6.6M | $3.8M | $9.1M | $12.2M | $5.9M | $6.2M | |
| Repurchase of Stock | $0.00 | $0.00 | -$11.6M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Net Debt Issuance | $0.00 | $0.00 | $566.3K | $1.1M | $13.9M | $6.1M | $605.4K | -$485.2K | $0.00 | -$63.9K | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $178.7K | $121.8K | $1.1M | $879.2K | $110.7K | $177.1K | $70.2K | |
| Net Change in Cash | $2.1M | -$431.7K | -$597.2K | -$147.3K | $12.1M | -$9.1M | -$2.0M | $2.4M | $808.3K | -$1.5M |
Dilution Tracker
Shares outstanding grew 301.6% over 5 years — significant dilution
Shares Outstanding
19M
5-Year Share Growth
+301.6%
Stock Issuance (TTM)
$6.2M
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Shares Out. (M) | 5.98 | 6.01 | 6.09 | 6.37 | 0.08 | 0.18 | 2.26 | 1.75 | 25.57 | 13.04 | |
| Change vs Prior % | — | 0.4% | 1.4% | 4.5% | -98.7% | 114.2% | 1158.3% | -22.8% | 1363.9% | -49.0% | |
| Stock Issuance | $202.3M | -$32.0K | -$8.6K | $0.00 | $6.6M | $3.8M | $9.1M | $12.2M | $5.9M | $6.2M | |
| Stock Repurchase | $0.00 | $0.00 | -$11.6M | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | |
| Stock Based Comp. | $0.00 | $0.00 | $0.00 | $178.7K | $121.8K | $1.1M | $879.2K | $110.7K | $177.1K | $70.2K |
Margins & Profitability
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin % | — | — | -92.9% | — | — | — | — | — | — | 100.0% | |
| Operating Margin % | — | — | -485.7% | — | — | — | — | — | — | -1087.5% | |
| Net Margin % | — | — | -572.7% | — | — | — | — | — | — | -1084.2% | |
| EBITDA Margin % | — | — | -485.7% | — | — | — | — | — | — | -1082.8% | |
| FCF Margin % | — | — | 623.3% | — | — | — | — | — | — | -771.2% | |
| ROE % | -0.0% | -0.7% | 151.3% | -0.9% | 369.2% | 650.8% | 3287.2% | -215.4% | -316.6% | -1532.3% | |
| ROA % | -0.0% | -0.7% | -1619.1% | 16.1% | -177.2% | -410.7% | -391.9% | -142.7% | -136.5% | -426.9% | |
| ROIC % | -0.1% | -0.4% | 211.3% | 67.6% | -156.4% | -3388.8% | -4663.8% | -182.3% | -320.9% | 1385.3% | |
| R&D / Revenue % | — | — | 192.9% | — | — | — | — | — | — | 1063.9% |
Growth (Year over Year)
Fiscal years. Rising share count growth means dilution.
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 0.0% | 0.0% | 0.0% | -100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Gross Profit | 0.0% | 0.0% | -5.1% | 100.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | |
| Operating Income | 0.0% | -552.4% | -793.5% | 81.2% | -1131.7% | -21.9% | 55.8% | 37.2% | -52.2% | |
| Net Income | 0.0% | -4205.5% | -652.2% | 100.6% | -51330.8% | 16.9% | 56.1% | 24.7% | -27.4% | |
| EPS (Diluted) | 0.0% | -4130.8% | -654.5% | 133.7% | -63614.3% | 60.8% | 96.6% | 2.6% | 12.9% | |
| Operating Cash Flow | 0.0% | -391.7% | 987.9% | -111.3% | -560.8% | -117.0% | 39.7% | 30.4% | -4.0% | |
| Free Cash Flow | 0.0% | -391.7% | 987.9% | -111.3% | -560.8% | -117.0% | 39.7% | 30.4% | -5.7% | |
| R&D Expense | 0.0% | 0.0% | 0.0% | 29.0% | 6.8% | 322.9% | -61.7% | -4.9% | 43.7% | |
| SG&A Expense | 0.0% | -100.0% | 0.0% | -83.3% | 1520.2% | -63.1% | -22.4% | -11.9% | 4.4% | |
| Total Assets | 0.0% | 1.2% | -99.7% | -43.6% | 4566.6% | -64.2% | -54.0% | 106.7% | 33.1% | |
| Book Value / Share | 0.0% | 0.7% | -103.3% | -36.3% | -6401.0% | 76.9% | 98.7% | 772.6% | -41.7% | |
| Debt | 0.0% | 0.0% | 0.0% | 62.9% | 303.1% | -74.2% | -80.7% | -64.7% | 1.7% | |
| Diluted Shares | 0.0% | 0.4% | 1.4% | 4.5% | -98.7% | 114.2% | 1158.3% | -22.8% | 1363.9% |
Valuation
P/E (TTM)At Loss
P/S5.49
P/B-5.48
10Y Low / Med / High0.73 / 1053.57 / 1075.65
EV/EBITDAAt Loss
EV/Revenue5.08
P/FCFAt Loss
Intrinsic Value Models (per share)
DCF Value
$0.06
Cash / Share
$0.05
| Metric | Trend | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio | -6611538.46 | -160690.91 | -22597.59 | 79937.36 | -47.57 | -0.97 | -3.39 | -1.78 | -0.23 | -0.12 | |
| P/S Ratio | 0.00 | 0.00 | 129529.84 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5.49 | |
| P/B Ratio | 1053.57 | 1075.65 | -34223.64 | -30984.03 | -180.44 | -6.54 | -111.50 | 3.83 | 0.73 | -5.48 | |
| EV/EBITDA | -7466079.84 | 79343.22 | -26667.45 | -123716.96 | -51.22 | -1.06 | -3.48 | -1.65 | 0.16 | -0.47 | |
| EV/Revenue | 0.00 | 0.00 | 129531.14 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 5.08 |
Analyst Estimates & Quality
Altman Z-Score
-82.29
Distress
Piotroski F-Score
3
Weak
Forward Estimates (consensus)
| Metric | FY2026 | FY2027 | FY2028 |
|---|---|---|---|
| Revenue | $4.5M | $2.8M | $0.00 |
| Net Income | -$15.3M | -$1.5M | -$2.0M |
| EPS | $-0.60 | $-0.06 | $-0.08 |
| # Analysts (EPS) | 2 | 1 | 1 |
Revenue Segments
By Product
| Segment | 2022 | 2023 | 2025 |
|---|---|---|---|
| M P A R | $2.0M | — | — |
| MPAR | — | — | $5.1M |