Ensysce Biosciences(US:ENSC)2024-08-14 20:32Financial Performance - Cash and cash equivalents were $1.0 million as of June 30, 2024, down from $1.1 million as of December 31, 2023[6] - Federal grants funding totaled $0.2 million for Q2 2024, compared to $0.5 million in the same quarter of 2023, due to the completion of funding under the MPAR grant[6] - Net loss attributable to common stockholders for Q2 2024 was $2.0 million, compared to $2.2 million in Q2 2023[7] - Total operating expenses for Q2 2024 were $2.1 million, down from $2.8 million in Q2 2023[6] - Total liabilities decreased to $1.3 million in 2024 from $3.4 million in 2023, while stockholders' equity improved to $1.5 million from a deficit of $0.7 million[13] Research and Development - Research and development expenses decreased to $0.9 million in Q2 2024 from $1.6 million in Q2 2023, a reduction of $0.7 million[6] - The PF614 Phase 3 clinical trial is on track to initiate in the second half of 2024, with the protocol design being finalized[2] - The lead drug candidate for the Opioid Use Disorder program, PF9001, has been selected and is supported by a multi-year NIH award of up to $15 million[5] - The upcoming Phase 1b study, PF614-MPAR-102, will test multiple PF614-MPAR drug products for overdose protection and effective delivery of oxycodone[4] Administrative Expenses - General and administrative expenses were $1.2 million in Q2 2024, slightly up from $1.1 million in Q2 2023[6]