Ensysce Biosciences, Inc. (ENSC) Stock Plunged 9.72% Current-Market, Here’s Why       

BFRI Stock

Ensysce Biosciences, Inc. (ENSC) stock plummeted 9.72% in the current-market trading session at the price of $1.30 despite no fundamental reason.  

ENSC Q4 2021 Earnings Report  

On 31st March 2022, ENSC published its financial results for the fourth quarter and year 2021. The company reported cash and cash equivalents of US$12.3M on 31st December 2021. Cash and cash equivalents were US$0.2M last year.  

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Federal grant funding totaled US$1.6M for Q4 of 2021 compared to US$0.4M for the same quarter of the prior year. For 2021, ENSC has federal grants funding of US$3.5M compared to US$3.9M for 2020. For Q4 of 2021, net loss totaled US$10.0M compared to net earnings of US$18.3K for Q4 of 2020. ENSC has a net loss of US$29.1M for 2021. Net loss totaled US$0.2M the previous year.  

ENSC has R&D costs of US$2.2M for Q4 of 2021 compared to US$1.3M in Q4 of 2020. For the year 2021, R&D costs were US$4.7M compared to US$4.4M for Q4 of 2020. ENSC has G&A expenses of US$1.5M for Q4 of 2021 and US$0.3M for the same quarter of 2020. For the year 2021, G&A costs were US$18.7M compared to US$1.2M for 2020.   

ENSC Stock

ENSC is a clinical-stage biotechnology firm that leverages its two novel technology platforms to devise safer drugs. Utilizing its TAAP and MPAR platforms, the company produces tamper-proof, next-gen opioids to deter overdoses and drug abuse. Ensysce’s product candidates reduce the financial costs and offer safer choices to treat extreme pain caused by opioid abuse.  

Market Outlook 

The completion of US$15M convertible note financing will provide the required funding for ENSC to proceed with its clinical trials. 2021 marked an exceptional milestone as the company enrolled the first patients in the Phase-I PF614-MPAR study. The stock expects to publish BE study data for the shareholders by Q2 of 2022. The publication of positive results will position PF614 as the first commercial product candidate. Moreover, it will fuel ENSC’s capacity to introduce a proprietary pipeline of products to the industry for people suffering from severe pain.