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8-K: Ensysce Biosciences Reports Third Quarter 2024 Financial Results

8-K: Ensysce Biosciences Reports Third Quarter 2024 Financial Results

8-K:Ensysce Biosciences公布2024年第三季度财务业绩
美股SEC公告 ·  2024/11/13 05:21

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Ensysce Biosciences reported Q3 2024 financial results, highlighting a net income of $0.7M compared to a $2.7M loss in Q3 2023. The company secured a significant $14M multi-year NIH grant for developing PF614-MPAR, their breakthrough therapy for pain treatment with overdose protection. Cash position strengthened to $4.2M as of September 30, 2024, up from $1.1M at 2023 year-end.The company achieved key operational milestones, including submitting the Phase 3 protocol for PF614 to FDA for review and initiating a second clinical trial for PF614-MPAR. Federal grant funding increased to $3.4M in Q3 2024 from $0.4M year-over-year, while R&D expenses decreased to $1.7M from $1.9M. G&A expenses remained stable at $1.1M.Management expects the positive net income to be a one-time event due to timing of grant funding. The company maintains compliance with Nasdaq's $2.5M stockholders' equity requirement, reporting $6.6M in equity as of Q3 2024. Looking ahead, Ensysce anticipates increased R&D expenses as clinical activities for OUD and MPAR programs advance.
Ensysce Biosciences reported Q3 2024 financial results, highlighting a net income of $0.7M compared to a $2.7M loss in Q3 2023. The company secured a significant $14M multi-year NIH grant for developing PF614-MPAR, their breakthrough therapy for pain treatment with overdose protection. Cash position strengthened to $4.2M as of September 30, 2024, up from $1.1M at 2023 year-end.The company achieved key operational milestones, including submitting the Phase 3 protocol for PF614 to FDA for review and initiating a second clinical trial for PF614-MPAR. Federal grant funding increased to $3.4M in Q3 2024 from $0.4M year-over-year, while R&D expenses decreased to $1.7M from $1.9M. G&A expenses remained stable at $1.1M.Management expects the positive net income to be a one-time event due to timing of grant funding. The company maintains compliance with Nasdaq's $2.5M stockholders' equity requirement, reporting $6.6M in equity as of Q3 2024. Looking ahead, Ensysce anticipates increased R&D expenses as clinical activities for OUD and MPAR programs advance.
Ensysce Biosciences公布了2024年第三季度的财务结果,指出净利润为70万美元,相比于2023年第三季度的270万美元亏损。该公司获得了一项1400万美元的多年度NIH资助,用于开发PF614-MPAR,这是他们用于疼痛治疗并具备过量保护的突破性疗法。截至2024年9月30日,现金状况增强至420万美元,而2023年底为110万美元。该公司取得了关键的运营里程碑,包括向FDA提交PF614的第三阶段方案供审核,并启动了PF614-MPAR的第二个临床试验。联邦资助在2024年第三季度增至340万美元,而去年同期为40万美元,而研发费用从190万美元减少至170万美元。管理费用...展开全部
Ensysce Biosciences公布了2024年第三季度的财务结果,指出净利润为70万美元,相比于2023年第三季度的270万美元亏损。该公司获得了一项1400万美元的多年度NIH资助,用于开发PF614-MPAR,这是他们用于疼痛治疗并具备过量保护的突破性疗法。截至2024年9月30日,现金状况增强至420万美元,而2023年底为110万美元。该公司取得了关键的运营里程碑,包括向FDA提交PF614的第三阶段方案供审核,并启动了PF614-MPAR的第二个临床试验。联邦资助在2024年第三季度增至340万美元,而去年同期为40万美元,而研发费用从190万美元减少至170万美元。管理费用保持在110万美元。管理层预计,积极的净利润将是一次性事件,原因在于资助的时机。该公司符合纳斯达克250万美元的股东权益要求,截至2024年第三季度报告的股权为660万美元。展望未来,Ensysce预计随着OUD和MPAR项目的临床活动推进,研发费用将增加。
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