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8-K: Ensysce Biosciences Reports Fourth Quarter and Full Year 2024 Financial Results

SEC ·  Mar 11 04:16

Summary by Moomoo AI

Ensysce Biosciences reported Q4 and full-year 2024 results, with cash position of $3.5M as of December 31, 2024. Federal grant funding increased to $5.2M in 2024 from $2.2M in 2023. The company recorded a net loss of $8.0M for 2024, improved from $10.6M in 2023, while R&D expenses decreased to $7.2M from $7.6M year-over-year.The company secured a strategic partnership with a specialty drug manufacturer for PF614 and PF614-MPAR development and commercialization. PF614, their lead pain treatment product, is preparing for Phase 3 trials expected to start in Q2 2025, with NDA submission planned for 2026. The PF614-MPAR-102 study showed positive interim results for overdose protection.The company's MPAR program received FDA Breakthrough Therapy designation in January 2024, supported by a $14M multi-year NIDA award. The OUD program advanced with lead candidate PF9001 selection, continuing non-clinical studies under a HEAL award for future IND-enabling work.
Ensysce Biosciences reported Q4 and full-year 2024 results, with cash position of $3.5M as of December 31, 2024. Federal grant funding increased to $5.2M in 2024 from $2.2M in 2023. The company recorded a net loss of $8.0M for 2024, improved from $10.6M in 2023, while R&D expenses decreased to $7.2M from $7.6M year-over-year.The company secured a strategic partnership with a specialty drug manufacturer for PF614 and PF614-MPAR development and commercialization. PF614, their lead pain treatment product, is preparing for Phase 3 trials expected to start in Q2 2025, with NDA submission planned for 2026. The PF614-MPAR-102 study showed positive interim results for overdose protection.The company's MPAR program received FDA Breakthrough Therapy designation in January 2024, supported by a $14M multi-year NIDA award. The OUD program advanced with lead candidate PF9001 selection, continuing non-clinical studies under a HEAL award for future IND-enabling work.
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