Diamond Equity Research Releases Update Note on Ensysce Biosciences, Inc. (NASDAQ: ENSC)
New York, Nov. 17, 2025 (GLOBE NEWSWIRE) -- Diamond Equity Research, a leading equity research firm with a focus on small capitalization public companies has released an Update Note on Ensysce Biosciences, Inc. (NASDAQ:ENSC). The research summary below is from a report commissioned by Ensysce Biosciences, Inc. and produced by Diamond Equity Research. The update note includes information on Ensysce Biosciences' business updates, management commentary, financial results, valuation, and risks.
The update note is available below.
Ensysce November 2025 Update Note
Highlights from the note include:
- Q3 2025 Demonstrates Continued Clinical Momentum with PF614 Phase 3 Progress, FDA Alignment on PF614-MPAR, and Advancement of OUD Platform: Ensysce delivered another quarter of meaningful operational and strategic progress as the company advanced its next-generation opioid therapeutics through late-stage clinical development. Q3 2025 was defined by the initiation of the pivotal PF614 Phase 3 trial, constructive FDA engagement supporting the development and regulatory positioning of PF614-MPAR, and continued advancement of PF9001 for opioid use disorder (OUD). These achievements, supported by a preferred stock financing, reinforce the company's strategic focus on creating opioid therapies with built-in safeguards against abuse and overdose while maintaining strong analgesic efficacy.
- Valuation: Ensysce Biosciences continued to advance its late-stage pipeline in Q3 2025, highlighted by the initiation and ongoing execution of the pivotal PF614-301 Phase 3 trial, reinforcing the program's trajectory toward potential regulatory submission. The company also made meaningful progress with PF614-MPAR, supported by constructive FDA feedback on overdose-protection labeling and confirmation of eligibility for a 505(b)(2) regulatory pathway, strengthening the program's prospects for streamlined approval. In the OUD segment, Ensysce continued to advance PF9001 under HEAL-grant support, with preparations underway for future IND-enabling work. From a funding standpoint, the company enhanced liquidity through a $4 million convertible preferred stock offering, with access to up to $16 million in additional capital over the next 24 months. While R&D expenses increased to $3.0M as PF614 and PF614-MPAR entered more resource-intensive stages, federal grant revenue of $0.5M and tight G&A control helped offset part of the operational burden. Incorporating these developments, the updated share count, and a refreshed comparable company analysis, we arrive at an updated valuation of $19.00 per share, contingent on the successful execution of the company's clinical and strategic plans.
About Ensysce Biosciences, Inc.
Ensysce Biosciences, Inc., a clinical-stage pharmaceutical company, engages in developing various prescription drugs for severe pain relief. The company's pipeline of drug candidates is developed on the back of its innovative technology platforms Trypsin Activated Abuse Protection (TAAP™), an abuse-resistant opioid prodrug technology; and Multi-Pill Abuse Resistance (MPAR™).
For more information, visit https://ensysce.com/
About Diamond Equity Research
Diamond Equity Research is a leading equity research and corporate access firm focused on small capitalization companies. Diamond Equity Research is an approved sell-side provider on major institutional investor platforms.
For more information, visit https://www.diamondequityresearch.com.
Disclosures:
Diamond Equity Research LLC is being compensated by Ensysce Biosciences, Inc. for producing research materials regarding Ensysce Biosciences Inc., and its securities, which is meant to subsidize the high cost of creating the report and monitoring the security, however, the views in the report reflect that of Diamond Equity Research. All payments are received upfront and are billed for an annual or semi-annual research engagement. As of 11/17/2025, the issuer paid us $113,750 for our research services, which commenced 10/10/2022 and includes an annual fee of $35,000 upfront for the first two years and quarterly upfront payments of $8,750 for the following years. Diamond Equity Research LLC may be compensated for non-research related services, including presenting at Diamond Equity Research investment conferences, press releases and other additional services. The non-research related service cost is dependent on the company, but usually do not exceed $5,000. The issuer has not paid us for non-research related services as of 11/17/2025. Issuers are not required to engage us for these additional services. Additional fees may have accrued since then. Although Diamond Equity Research company sponsored reports are based on publicly available information and although no investment recommendations are made within our company sponsored research reports, given the small capitalization nature of the companies we cover we have adopted an internal trading procedure around the public companies by whom we are engaged, with investors able to find such policy on our website public disclosures page. This report and press release do not consider individual circumstances and does not take into consideration individual investor preferences. Statements within this report may constitute forward-looking statements, these statements involve many risk factors and general uncertainties around the business, industry, and macroeconomic environment. Investors need to be aware of the high degree of risk in small capitalization equities including the complete loss of their investment. This report is based on information we consider reliable, including the subject of the report. This report does not explicitly or implicitly affirm that the information contained in this document is accurate and/or comprehensive, and as such should not be relied on in such capacity. All information contained within this report is subject to change without any formal or other notice provided. Investors can find various risk factors in the initiation report and in the respective financial filings for Ensysce Biosciences, Inc. Please review update report attached for full disclosures.
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