Ensysce Biosciences Receives Positive Nasdaq Listing Determination
Ensysce Biosciences (NASDAQ:ENSC), a clinical-stage biotech company, announced on February 14, 2023, that the Nasdaq Hearings Panel granted its request for continued listing on the Nasdaq Stock Market. This decision is contingent on the company meeting criteria for the Nasdaq Capital Market tier, including a minimum bid price of $1.00 and stockholders' equity of at least $2.5 million by June 12, 2023. Ensysce focuses on innovative drug safety technologies to combat prescription medication abuse and overdoses through its proprietary platforms, TAAP and MPAR.
- Nasdaq Hearings Panel granted continued listing request.
- Company to meet specific criteria, showing potential for financial stability.
- Development of innovative, tamper-proof pain treatment options.
- Must achieve $1.00 bid price and $2.5 million in stockholders' equity by June 12, 2023.
SAN DIEGO, CA / ACCESSWIRE / February 15, 2023 / Ensysce Biosciences, Inc. (the "Company") (NASDAQ:ENSC), a clinical-stage biotech company applying transformative chemistry to improve prescription drug safety to reduce abuse and overdose, today announced that by decision dated February 14, 2023, a Nasdaq Hearings Panel (the "Panel") granted the Company's request for continued listing on The Nasdaq Stock Market ("Nasdaq"), subject to the Company evidencing compliance with all applicable criteria for continued listing on The Nasdaq Capital Market tier, including the
About Ensysce Biosciences
Ensysce Biosciences is a clinical-stage biotech company using its proprietary technology platforms to develop safer prescription drugs. Leveraging its Trypsin Activated Abuse Protection (TAAP) and Multi-Pill Abuse Resistance (MPAR™) platforms, the Company is in the process of developing a unique, tamper-proof treatment option for pain that minimizes the risk of both drug abuse and overdoses. Ensysce's products are anticipated to provide safer options to treat patients suffering from severe pain and assist in preventing deaths caused by medication abuse. The platforms are covered by an extensive worldwide intellectual property portfolio for a wide array of prescription drug compositions. For more information, please visit www.ensysce.com.
Forward-Looking Statements
Statements contained in this press release that are not purely historical may be deemed to be forward-looking statements for the purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995 and other federal securities laws. Without limiting the foregoing, the use of words such as "may," "intends," "can," "might," "will," "expect," "plan," "possible," "believe" and other similar expressions are intended to identify forward-looking statements. The product candidates discussed are in clinic and not approved and there can be no assurance that the clinical programs will be successful in demonstrating safety and/or efficacy, that Ensysce will not encounter problems or delays in clinical development, or that any product candidate will ever receive regulatory approval or be successfully commercialized. All forward-looking statements are based on estimates and assumptions by Ensysce's management that, although Ensysce believes to be reasonable, are inherently uncertain. All forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those that Ensysce expected. In addition, Ensysce's business is subject to additional risks and uncertainties, including among others, the initiation and conduct of preclinical studies and clinical trials; the timing and availability of data from preclinical studies and clinical trials; expectations for regulatory submissions and approvals; potential safety concerns related to, or efficacy of, Ensysce's product candidates; the availability or commercial potential of product candidates; the ability of Ensysce to fund its continued operations, including its planned clinical trials; the dilutive effect of stock issuances from our fundraising; and Ensysce's and its partners' ability to perform under their license, collaboration and manufacturing arrangements. These statements are also subject to a number of material risks and uncertainties that are described in Ensysce's most recent quarterly report on Form 10-Q and current reports on Form 8-K, which are available, free of charge, at the SEC's website at www.sec.gov. Any forward-looking statement speaks only as of the date on which it was made. Ensysce undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise, except as required under applicable law.
Ensysce Biosciences Company Contact
Lynn Kirkpatrick, Ph.D.
Chief Executive Officer
(858) 263-4196
Ensysce Biosciences Investor Relations Contact:
MZ Group North America
Shannon Devine
203-741-8811
ENSC@mzgroup.us
SOURCE: Ensysce Biosciences, Inc.
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