Reported Thursday, Sep 24 - 8:39am EDT (TheFly subscription required to read more.)

Ensysce Biosciences (NASDAQ: ENSC) reported second quarter 2026 results and completed the stock‑for‑stock acquisition of Cy Biopharma on August 6, 2026, adding lead asset CY200, an FDA Orphan Drug‑designated candidate for Complex Regional Pain Syndrome (CRPS) Type 1.The transaction, together with concurrent private placement financings, provides up to $77.2 million in funding: $17.1 million cash from Cy Biopharma’s pre‑acquisition notes and approximately $21.5 million in gross proceeds from Series C preferred stock, plus a second tranche of up to $38.6 million tied to clinical milestones. According to Ensysce, this extends cash runway into late 2027, with potential to reach 2028 if the second tranche is triggered.Q2 2026 federal grant revenue was $1.16 million, R&D expenses $2.47 million, G&A $1.27 million, and net loss attributable to common stockholders $2.57 million (vs. $1.73 million in Q2 2025). Cash at June 30, 2026 was $0.68 million, increasing by about $31 million after quarter‑end from the Cy Biopharma deal and related financings. Ensysce also advanced PF614 and PF614‑MPAR programs, secured the third year of a $15.1 million NIDA grant, retained $5.3 million in remaining grant funds, and gained new MPAR patent protection in Taiwan through 2042.