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10-Q: Q2 2024 Earnings Report

10-Q: Q2 2024 Earnings Report

10-Q:2024財年二季報
美股SEC公告 ·  2024/08/15 04:37

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Ensysce Biosciences reported financial results for Q2 2024, with federal grant revenue of $181,797, down from $490,472 in Q2 2023. Research and development expenses decreased to $947,229 from $1.6 million, while general and administrative expenses remained stable at $1.2 million. The company ended the quarter with $1.0 million in cash and cash equivalents.In February 2024, the company completed a warrant inducement transaction generating approximately $4.7 million in gross proceeds. The deal included the exercise of existing warrants at a reduced price of $1.31 per share and issuance of new Series A and B warrants with an exercise price of $1.06 per share. The company also restructured its 2023 Notes, reducing the outstanding principal to $216,000.Management indicates current cash resources will fund operations into Q3 2024, raising substantial going concern doubts. The company expects federal grant funding to increase in the second half of 2024 due to expanded preclinical activities under the OUD grant following lead drug candidate selection. Future research and development expenses are expected to remain at current levels, subject to the company's ability to raise additional capital.
Ensysce Biosciences reported financial results for Q2 2024, with federal grant revenue of $181,797, down from $490,472 in Q2 2023. Research and development expenses decreased to $947,229 from $1.6 million, while general and administrative expenses remained stable at $1.2 million. The company ended the quarter with $1.0 million in cash and cash equivalents.In February 2024, the company completed a warrant inducement transaction generating approximately $4.7 million in gross proceeds. The deal included the exercise of existing warrants at a reduced price of $1.31 per share and issuance of new Series A and B warrants with an exercise price of $1.06 per share. The company also restructured its 2023 Notes, reducing the outstanding principal to $216,000.Management indicates current cash resources will fund operations into Q3 2024, raising substantial going concern doubts. The company expects federal grant funding to increase in the second half of 2024 due to expanded preclinical activities under the OUD grant following lead drug candidate selection. Future research and development expenses are expected to remain at current levels, subject to the company's ability to raise additional capital.
Ensysce生物科學公司報告了2024年第二季度的財務結果,聯邦撥款收入爲181,797美元,較2023年第二季度的490,472美元下降。研發費用從160萬下降至947,229美元,而一般及管理費用保持在120萬穩定。公司在本季度結束時擁有100萬的現金及現金等價物。在2024年2月,公司完成了一項Warrants誘導交易,產生了約470萬的總收益。該交易包括在每股1.31美元的降低價格下行使現有Warrants和發行新系列A和B的Warrants,行使價格爲每股1.06美元。公司還重組了其2023年的票據,將未償還本金減少到216,000美元。管理層表示,目前的現金資源將支持運營至2024年第三季度,這引發了重大的持續經營疑慮。公司預計聯邦撥款將在2024年下半年因基於OUD撥款的前臨牀活動擴大而增加,前提是選定了主要藥物候選者。未來的研發費用預計將保持在當前水平,取決於公司籌集額外資本的能力。
Ensysce生物科學公司報告了2024年第二季度的財務結果,聯邦撥款收入爲181,797美元,較2023年第二季度的490,472美元下降。研發費用從160萬下降至947,229美元,而一般及管理費用保持在120萬穩定。公司在本季度結束時擁有100萬的現金及現金等價物。在2024年2月,公司完成了一項Warrants誘導交易,產生了約470萬的總收益。該交易包括在每股1.31美元的降低價格下行使現有Warrants和發行新系列A和B的Warrants,行使價格爲每股1.06美元。公司還重組了其2023年的票據,將未償還本金減少到216,000美元。管理層表示,目前的現金資源將支持運營至2024年第三季度,這引發了重大的持續經營疑慮。公司預計聯邦撥款將在2024年下半年因基於OUD撥款的前臨牀活動擴大而增加,前提是選定了主要藥物候選者。未來的研發費用預計將保持在當前水平,取決於公司籌集額外資本的能力。
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