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Ensysce Biosciences Receives Positive Nasdaq Listing Determination

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Ensysce Biosciences (NASDAQ:ENSC) has received a positive determination from Nasdaq regarding its listing status. The company has been granted an extension until November 14, 2024, to demonstrate compliance with the equity requirement by filing its Form 10-Q. Additionally, Nasdaq extended the deadline to December 19, 2024, for meeting the Minimum Bid Price requirement and other applicable conditions to maintain its listing on The Nasdaq Capital Market.

Ensysce Biosciences (NASDAQ:ENSC) ha ricevuto una determinazione positiva da parte di Nasdaq riguardo al suo status di quotazione. L'azienda ha ottenuto un'estensione fino al 14 novembre 2024 per dimostrare la conformità ai requisiti patrimoniali presentando il suo Modulo 10-Q. Inoltre, Nasdaq ha prorogato la scadenza fino al 19 dicembre 2024 per soddisfare il requisito del Prezzo minimo di offerta e altre condizioni applicabili per mantenere la sua quotazione sul Nasdaq Capital Market.

Ensysce Biosciences (NASDAQ:ENSC) ha recibido una determinación positiva por parte de Nasdaq en relación con su estado de cotización. La compañía ha recibido una extensión hasta el 14 de noviembre de 2024 para demostrar el cumplimiento con el requisito de capital mediante la presentación de su Formulario 10-Q. Además, Nasdaq ha ampliado la fecha límite hasta el 19 de diciembre de 2024 para cumplir con el requisito del Precio Mínimo de Oferta y otras condiciones aplicables para mantener su cotización en el Nasdaq Capital Market.

Ensysce Biosciences (NASDAQ:ENSC)는 나스닥에서 상장 상태에 대한 긍정적인 결정을 받았습니다. 이 회사는 2024년 11월 14일까지 자본 요건 준수를 입증하기 위해 Form 10-Q를 제출할 수 있는 연장을 받았습니다. 또한, 나스닥은 상장 유지를 위한 최소 입찰 가격 요건 및 기타 적용 가능한 조건을 충족하기 위한 기한을 2024년 12월 19일로 연장했습니다.

Ensysce Biosciences (NASDAQ:ENSC) a reçu une décision positive de Nasdaq concernant son statut de cotation. La société s'est vue accorder une prolongation jusqu'au 14 novembre 2024 pour démontrer sa conformité aux exigences en matière de capitaux en déposant son formulaire 10-Q. De plus, Nasdaq a prolongé le délai jusqu'au 19 décembre 2024 pour satisfaire aux exigences du Prix Minimum d'Offre et d'autres conditions applicables afin de maintenir sa cotation sur le Nasdaq Capital Market.

Ensysce Biosciences (NASDAQ:ENSC) hat von Nasdaq eine positive Entscheidung bezüglich seines Listing-Status erhalten. Das Unternehmen wurde bis zum 14. November 2024 verlängert, um die Einhaltung der Eigenkapitalanforderungen durch die Einreichung seines Formulars 10-Q nachzuweisen. Darüber hinaus hat Nasdaq die Frist bis zum 19. Dezember 2024 verlängert, um die Anforderungen an den Mindestgebotspreis und andere anwendbare Bedingungen zur Aufrechterhaltung seiner Notierung am Nasdaq Capital Market zu erfüllen.

Positive
  • Received extension for Nasdaq listing compliance
  • Additional time granted to meet minimum bid price requirements
Negative
  • Risk of potential delisting if compliance requirements are not met by deadlines
  • Company currently not compliant with Nasdaq's equity requirements
  • Company currently not meeting minimum bid price requirements

Insights

This Nasdaq listing determination is critical for Ensysce Biosciences, a micro-cap pharmaceutical company with a market cap of just $7.58M. The company has received a short extension until November 14, 2024 to meet equity requirements and until December 19, 2024 for the minimum bid price compliance. Maintaining Nasdaq listing is vital for investor accessibility and market credibility.

For micro-cap companies, delisting risks can significantly impact stock liquidity and institutional investment potential. The short timeline suggests urgent need for capital raising or other strategic actions to meet compliance. The company's ability to maintain listing will be important for its future financing capabilities and market presence in the competitive pharmaceutical space.

SAN DIEGO, CA / ACCESSWIRE / November 7, 2024 / Ensysce Biosciences, Inc. (NASDAQ:ENSC) ("Ensysce" or "Company"), a clinical-stage pharmaceutical company developing innovative solutions for severe pain relief while reducing the potential for opioid abuse and overdose, today announced that it has received notice from The Nasdaq Stock Market ("Nasdaq") as described in a decision dated November 5, 2024, that the Company may continue its listing on The Nasdaq Capital Market tier with an extension to November 14, 2024, to demonstrate compliance with the equity requirement in Listing Rule 5550(b)(1) as of September 30, 2024, with filing of its Form 10-Q. Additionally, the Company received an extension toDecember 19, 2024, to evidence compliance with the Minimum Bid Price in Listing Rule 5550(a)(2), all other applicable requirements and the Company's satisfaction of certain other interim conditions.

About Ensysce Biosciences
Ensysce Biosciences is a clinical-stage pharmaceutical company using its proprietary technology platforms to develop safer prescription drugs. Leveraging its Trypsin-Activated Abuse Protection (TAAPTM) and Multi-Pill Abuse Resistance (MPAR®) platforms, the Company is developing unique, tamper-proof treatment options for pain that minimize the risk of both drug abuse and overdose. 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.



View the original press release on accesswire.com

FAQ

What is the deadline for Ensysce Biosciences (ENSC) to meet Nasdaq's equity requirement?

Ensysce Biosciences must demonstrate compliance with Nasdaq's equity requirement by November 14, 2024, through the filing of its Form 10-Q.

When does Ensysce Biosciences (ENSC) need to meet Nasdaq's minimum bid price requirement?

Ensysce Biosciences has until December 19, 2024, to meet Nasdaq's minimum bid price requirement.

What did Nasdaq's November 5, 2024 determination mean for Ensysce Biosciences (ENSC)?

The determination allowed Ensysce Biosciences to continue its listing on The Nasdaq Capital Market tier with extensions to meet specific compliance requirements.

Ensysce Biosciences, Inc.

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