2022 Q4 Form 10-Q Financial Statement

#000149315222032094 Filed on November 14, 2022

View on sec.gov

Income Statement

Concept 2022 Q4 2022 Q3 2021 Q3
Revenue $1.433M $279.4K $1.201M
YoY Change -12.34% -76.74%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.192M $1.687M $16.37M
YoY Change -18.01% -89.7%
% of Gross Profit
Research & Development $6.442M $4.756M $1.715M
YoY Change 194.44% 177.38%
% of Gross Profit
Depreciation & Amortization $0.00 $0.00 $50.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $7.634M $6.443M $18.09M
YoY Change 109.61% -64.38% 6196.82%
Operating Profit -$6.163M -$16.89M
YoY Change -63.5%
Interest Expense -$51.86K $4.859K -$1.350M
YoY Change -102.61% -100.36% -73494.57%
% of Operating Profit
Other Income/Expense, Net $739.1K -$3.692M $1.038M
YoY Change -107.13% -455.78%
Pretax Income -$5.478M -$9.856M -$17.20M
YoY Change -45.42% -42.7% 5926.23%
Income Tax
% Of Pretax Income
Net Earnings -$5.522M -$9.856M -$17.16M
YoY Change -44.98% -42.58% -7943.68%
Net Earnings / Revenue -385.22% -3528.02% -1429.32%
Basic Earnings Per Share -$5.13 -$14.15
Diluted Earnings Per Share -$18.21 -$5.099M -$707.6K
COMMON SHARES
Basic Shares Outstanding 2.841M shares 37.32M shares 1.213M shares
Diluted Shares Outstanding 160.7K shares

Balance Sheet

Concept 2022 Q4 2022 Q3 2021 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.148M $4.503M $6.846M
YoY Change -74.34% -34.22% 12698.04%
Cash & Equivalents $3.148M $4.503M $6.846M
Short-Term Investments
Other Short-Term Assets $1.875M $3.018M $1.989M
YoY Change -36.58% 51.77% 4014.98%
Inventory
Prepaid Expenses $1.847M $2.983M
Receivables $276.8K $140.8K $86.87K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $5.299M $7.662M $8.921M
YoY Change -66.17% -14.11% 8661.84%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $585.9K $627.6K $796.4K
YoY Change -22.37% -21.2% -93.96%
Total Long-Term Assets $585.9K $627.6K $796.4K
YoY Change -22.37% -21.2% -93.96%
TOTAL ASSETS
Total Short-Term Assets $5.299M $7.662M $8.921M
Total Long-Term Assets $585.9K $627.6K $796.4K
Total Assets $5.885M $8.290M $9.718M
YoY Change -64.15% -14.69% -26.88%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.944M $1.286M $471.9K
YoY Change 877.67% 172.44% 44.55%
Accrued Expenses $2.254M $2.272M $3.762M
YoY Change -34.34% -39.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $4.267M $7.553M $2.797M
YoY Change -66.53% 170.01%
Total Short-Term Liabilities $9.464M $11.91M $7.031M
YoY Change -42.58% 69.38% 1455.29%
LONG-TERM LIABILITIES
Long-Term Debt $140.2K $1.387M $2.114M
YoY Change -96.84% -34.41% 273.4%
Other Long-Term Liabilities $310.3K $1.415M $957.1K
YoY Change -91.5% 47.82% -86.33%
Total Long-Term Liabilities $450.5K $2.802M $3.072M
YoY Change -87.67% -8.78% -59.4%
TOTAL LIABILITIES
Total Short-Term Liabilities $9.464M $11.91M $7.031M
Total Long-Term Liabilities $450.5K $2.802M $3.072M
Total Liabilities $9.915M $14.71M $9.823M
YoY Change -59.66% 49.76% 22.51%
SHAREHOLDERS EQUITY
Retained Earnings -$110.9M -$105.4M
YoY Change 29.19%
Common Stock $642.00 $221.00
YoY Change -73.94%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.714M -$6.094M -$105.7K
YoY Change
Total Liabilities & Shareholders Equity $5.885M $8.290M $9.718M
YoY Change -64.15% -14.69% -26.88%

Cashflow Statement

Concept 2022 Q4 2022 Q3 2021 Q3
OPERATING ACTIVITIES
Net Income -$5.522M -$9.856M -$17.16M
YoY Change -44.98% -42.58% -7943.68%
Depreciation, Depletion And Amortization $0.00 $0.00 $50.00
YoY Change -100.0%
Cash From Operating Activities -$3.296M -$6.714M -$3.825M
YoY Change -12.53% 75.54% 3364.9%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$1.178M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.940M 7.483M 2.659M
YoY Change -78.88% 181.43%
NET CHANGE
Cash From Operating Activities -3.296M -6.714M -3.825M
Cash From Investing Activities 0.000 0.000
Cash From Financing Activities 1.940M 7.483M 2.659M
Net Change In Cash -1.355M 768.4K -1.166M
YoY Change -125.01% -165.9% 1556.64%
FREE CASH FLOW
Cash From Operating Activities -$3.296M -$6.714M -$3.825M
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_801_eus-gaap--BasisOfAccounting_zvQ2en7vYAXi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 - <span id="xdx_822_zZa1e3qdKLf1">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements have been prepared in accordance with GAAP and pursuant to the rules and regulations of the SEC. The consolidated financial statements include the accounts of Ensysce Biosciences, Inc. and its subsidiaries. All intercompany balances and transactions have been eliminated in the consolidation.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In the opinion of management, all adjustments considered necessary for a fair presentation have been included in the consolidated financial statements. Operating results for the three and nine months ended September 30, 2022, are not necessarily indicative of the results that may be expected for the year ending December 31, 2022. The interim unaudited consolidated financial statements have been prepared under the presumption that users of the interim financial information have either read or have access to the audited consolidated financial statements for the fiscal year ended December 31, 2021, which may be found in the Company’s Form 10-K filed with the SEC on March 31, 2022.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b><i>Reverse Stock Split</i></b></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In October 2022, the Company completed a <span id="xdx_906_eus-gaap--StockholdersEquityReverseStockSplit_c20221027__20221028__us-gaap--SubsequentEventTypeAxis__us-gaap--SubsequentEventMember_zVn4fgsMK00h" title="Reverse stock split">1-for-20 reverse split </span>of its outstanding common stock. All references in these consolidated financial statements to shares and per share amounts in all periods have been retroactively restated to reflect the split (see Note 11).</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Business Combination</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Business Combination was accounted for as a reverse recapitalization in accordance with U.S. GAAP. Under this method of accounting, LACQ was identified as the acquired company for financial reporting purposes, primarily because the stockholders of Former Ensysce control the majority of the voting power of the combined company, Former Ensysce’s board of directors comprise a majority of the governing body of the combined company, and Former Ensysce’s senior management comprise the leadership of the combined company. Accordingly, for accounting purposes, the transaction was treated as the equivalent of Former Ensysce issuing shares for the net assets of LACQ, accompanied by a recapitalization. The net assets of LACQ, primarily consisting of cash of $<span id="xdx_90A_eus-gaap--Cash_iI_pn5n6_c20220930_zIlH8AxaUcbg" title="Cash">7.8</span> million and prepaid expenses of $<span id="xdx_909_eus-gaap--PrepaidExpenseCurrentAndNoncurrent_iI_pn5n6_c20220930_z1SoKyUJFxT4" title="Prepaid expense">1.1</span> million, were recorded at historical cost with no goodwill or other intangible assets recorded. The shares and net loss per share prior to the reverse recapitalization have been retroactively restated to reflect the exchange ratio of <span id="xdx_908_eus-gaap--DebtInstrumentConvertibleConversionPrice1_iI_pid_c20220930_zbpl5JKGlhIh" title="Debt Instrument, conversion price">0.06585</span>. The financial statements reflect the historical operations of Ensysce.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Going Concern</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying consolidated financial statements have been prepared assuming the Company will continue as a going concern, which contemplates, among other things, the realization of assets and satisfaction of liabilities in the normal course of business.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The Company has not generated any product revenue and had an accumulated deficit of $<span id="xdx_902_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pn5n6_di_c20220930_zxTiDyabVaMa" title="Accumulated deficit">105.4</span> million at September 30, 2022. There is no assurance that profitable operations will ever be achieved, and, if achieved, could be sustained on a continuing basis. Product development activities, clinical and pre-clinical testing, and commercialization of the Company’s product candidates are necessary to develop the Company’s products and will require significant additional financing. There can be no assurance the Company will be able to obtain such funds. These matters, among others, raise substantial doubt about the Company’s ability to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In December 2020, the Company executed the GEM Agreement. Under the agreement, the investor agreed to provide the Company with a share subscription facility of up to $<span id="xdx_901_eus-gaap--CommonStockSharesSubscriptions_iI_pn5n6_c20201231_z4kbMtfGuUhh" title="Common stock, subscriptions value">60.0</span> million for a 36-month term following the public listing of the Company’s common stock. The Company controls the timing and maximum amount of drawdown under this facility and has no minimum drawdown obligation. The investor will pay, in cash, a per-share amount equal to 90% of the average daily closing price of the Company’s stock during the 30 consecutive trading days prior to the issuance of a draw notice, which shall not exceed 400% of the average trading volume for the 30 trading days immediately preceding the draw down date. On June 30, 2021, the Company consummated the Business Combination, resulting in the Company’s shares becoming publicly listed on Nasdaq on July 2, 2021. Concurrent with the public listing of the Company’s shares, the Company issued to the investor <span id="xdx_906_eus-gaap--ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights_iI_pid_c20210630__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_zTvsEawIiZyg" title="Warrants issued shares">55,306</span> warrants with a five-year term to purchase common stock of Ensysce at an exercise price of $<span id="xdx_909_eus-gaap--ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1_iI_pp2d_c20210630__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_zmmAq6WkOYtd" title="Warrant, exercise price">200.20</span> per share (Note 8). The Company is required to pay a commitment fee to the investor of $<span id="xdx_90C_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_pn5n6_c20210601__20210630__srt--TitleOfIndividualAxis__us-gaap--InvestorMember_zPn1K1V6CRMf" title="Commitment fees">1.2</span> million with $<span id="xdx_908_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_pn5n6_c20210601__20210630__srt--TitleOfIndividualAxis__us-gaap--InvestorMember__us-gaap--AwardDateAxis__custom--FirstAnniversaryMember_zzxrlQjntA42" title="Commitment fees">0.8 million</span> due on the first anniversary of the public listing date and $<span id="xdx_90C_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_pn5n6_c20210601__20210630__srt--TitleOfIndividualAxis__us-gaap--InvestorMember__us-gaap--AwardDateAxis__custom--EighteenMonthAnniversaryMember_z6Zj675BAUL6" title="Commitment fees">0.4 million</span> due on the 18-month anniversary of the public listing date. The first $<span id="xdx_908_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_pn5n6_c20220701__20220731__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardDateAxis__custom--JulyTwentyTwentyTwoMember_zfRy6ijzn2wf" title="Commitment fees">0.8 million</span> of the commitment fee was paid in July 2022 in common stock of the Company (Note 10) and the remaining $<span id="xdx_90B_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_pn5n6_c20220701__20220731__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardDateAxis__custom--JanuaryTwentyTwentyThreeMember_zKSdJYJMrWF5" title="Commitment fees">0.4 million</span> due in January 2023 may be paid from the proceeds of a draw against the facility or in freely tradable common stock of the Company.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In September 2021, the Company entered into a $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_iI_pn5n6_c20210930__us-gaap--TypeOfArrangementAxis__custom--ConvertibleNoteFinancingAgreementMember_zhL0VMB4pmKk" title="Debt instrument, face amount">15.9</span> million convertible note financing agreement with institutional investors (the “2021 Notes”) (See Note 7 for additional information). In July and August 2022, the Company received funding under a $<span id="xdx_90D_eus-gaap--ProceedsFromConvertibleDebt_pn4n6_c20220801__20220809_zTXMQ8qrYkW8" title="Proceeds from issuance of convertible notes">8.48</span> million convertible note financing agreement with the same institutional investors (the “2022 Notes”) (Note 7). The agreements limit the Company’s ability to execute certain debt and equity financings, including under the GEM Agreement, while the convertible notes are outstanding. Without the availability of proceeds through the GEM Agreement, existing cash resources are not sufficient to fund current planned operations. While the Company believes in the viability of its strategy to ultimately realize revenues and in its ability to raise additional funds, management cannot be certain that additional funding will be available on acceptable terms, or at all. The Company’s ability to continue as a going concern is dependent upon its ability to obtain adequate financing and achieve profitable operations. As a result, these plans do not alleviate substantial doubt about the Company’s ability to continue as a going concern for a period of 12 months following the date these consolidated financial statements were issued.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The consolidated financial statements do not include any adjustments that might be necessary should the Company be unable to continue as a going concern.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q3 us-gaap Cash
Cash
7800000 usd
CY2022Q3 us-gaap Prepaid Expense Current And Noncurrent
PrepaidExpenseCurrentAndNoncurrent
1100000 usd
CY2022Q3 us-gaap Debt Instrument Convertible Conversion Price1
DebtInstrumentConvertibleConversionPrice1
0.06585
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RetainedEarningsAccumulatedDeficit
-105400000 usd
CY2020Q4 us-gaap Common Stock Shares Subscriptions
CommonStockSharesSubscriptions
60000000.0 usd
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ProceedsFromConvertibleDebt
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us-gaap Use Of Estimates
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<p id="xdx_848_eus-gaap--UseOfEstimates_zcpjzRqVeVb6" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86E_zXuqhpXss1ce">Use of Estimates and Assumptions</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and disclosed in the accompanying notes. Actual results may differ from those estimates and such differences may be material to the consolidated financial statements. The more significant estimates and assumptions by management include, but are not limited to, the expense recognition for certain research and development services, the valuation allowance of deferred tax assets resulting from net operating losses, warrants, options to purchase the Company’s common stock, and the notes payable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84D_eus-gaap--ConcentrationRiskCreditRisk_zuDAQpvluU63" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_868_zSdwW14rVexb">Concentrations of credit risk and off-balance sheet risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash and cash equivalents are financial instruments that are potentially subject to concentrations of credit risk. The Company’s cash and cash equivalents are deposited in accounts at large financial institutions, and amounts may exceed federally insured limits. The Company believes it is not exposed to significant credit risk due to the financial strength of the depository institutions in which the cash and cash equivalents are held. The Company has no financial instruments with off-balance sheet risk of loss.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2021Q3 us-gaap Depreciation
Depreciation
50 usd
us-gaap Depreciation
Depreciation
151 usd
CY2021 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
15900000 usd
CY2022Q3 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
8500000 usd
CY2022Q3 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
8586102 usd
CY2022Q3 us-gaap Financial Liabilities Fair Value Disclosure
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1414829 usd
CY2022Q3 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
10000931 usd
CY2021Q4 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
16799837 usd
CY2021Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
3303588 usd
CY2021Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
20103425 usd
CY2021Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
20103425 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Issues
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityIssues
12217371 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
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-14133750 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
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CY2022Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
10000931 usd
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GrantsReceivable
5400000 usd
CY2019Q3 us-gaap Grants Receivable
GrantsReceivable
5100000 usd
CY2021Q2 us-gaap Grants Receivable
GrantsReceivable
10800000 usd
CY2019Q3 us-gaap Grants Receivable
GrantsReceivable
5400000 usd
CY2021Q4 ENSC Consultant Stock Compensation Expenses
ConsultantStockCompensationExpenses
1342479 usd
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OtherAccruedLiabilitiesCurrentAndNoncurrent
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OtherAccruedLiabilitiesCurrentAndNoncurrent
67939 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
279351 usd
CY2021Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
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us-gaap Revenue From Contract With Customer Including Assessed Tax
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CY2022Q2 us-gaap Unbilled Contracts Receivable
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CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-9897612 usd
CY2021Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-17163526 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-19563588 usd
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
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CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2021Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1212791 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
1666253 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
937764 shares
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EarningsPerShareBasic
-5.13
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EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
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us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-20.31
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
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CY2021Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1223156 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1383082 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
561364 shares
CY2021Q4 ENSC Accrued Scientific Advisory Board Fees
AccruedScientificAdvisoryBoardFees
60032 usd
CY2022Q3 ENSC Prepaid Research And Development
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CY2021Q4 ENSC Prepaid Research And Development
PrepaidResearchAndDevelopment
2124008 usd
CY2022Q3 us-gaap Prepaid Insurance
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CY2021Q4 us-gaap Prepaid Insurance
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CY2022Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
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CY2021Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
74173 usd
CY2022Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
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CY2021Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
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CY2022Q3 ENSC Share Subscription Facility Commitments Fees
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400000 usd
CY2021Q4 ENSC Share Subscription Facility Commitments Fees
ShareSubscriptionFacilityCommitmentsFees
800000 usd
CY2022Q3 ENSC Accrued Research And Development
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CY2021Q4 ENSC Accrued Research And Development
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CY2022Q3 us-gaap Accrued Bonuses Current And Noncurrent
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CY2021Q4 us-gaap Accrued Bonuses Current And Noncurrent
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CY2022Q3 ENSC Accrued Scientific Advisory Board Fees
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CY2022Q3 us-gaap Contractual Obligation
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25700000 usd
us-gaap Operating Lease Payments
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us-gaap Payments For Rent
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CY2022Q3 ENSC Stated Interest Accrual
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CY2021Q3 ENSC Stated Interest Accrual
StatedInterestAccrual
24660 usd
ENSC Stated Interest Accrual
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251857 usd
us-gaap Amortization Of Debt Discount Premium
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CY2022Q3 us-gaap Interest Expense Debt
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us-gaap Interest Expense Debt
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us-gaap Interest Expense Debt
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us-gaap Conversion Of Stock Amount Converted1
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100000 usd
CY2021 ENSC Financed Insurance Premiums
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ENSC Financed Insurance Premiums
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400000 usd
CY2021Q2 us-gaap Common Stock Shares Authorized
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1500000 shares
CY2021Q2 us-gaap Common Stock Par Or Stated Value Per Share
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0.0001
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0.0001
CY2022Q3 us-gaap Common Stock Shares Authorized
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250000000 shares
CY2022Q3 us-gaap Preferred Stock Shares Issued
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0 shares
CY2022Q3 us-gaap Preferred Stock Shares Outstanding
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0 shares
CY2021Q4 us-gaap Preferred Stock Shares Issued
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CY2021Q4 us-gaap Preferred Stock Shares Outstanding
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CY2021Q2 us-gaap Common Stock Shares Outstanding
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CY2021Q2 us-gaap Debt Conversion Converted Instrument Shares Issued1
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67899 shares
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CY2021Q1 ENSC Termination Of Common Stock Issued
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6250 shares
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CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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CY2022Q1 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
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152.60
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CY2022Q3 us-gaap Warrants And Rights Outstanding Maturity Date
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CY2021Q4 us-gaap Warrants And Rights Outstanding Maturity Date
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CY2022Q3 us-gaap Warrants And Rights Outstanding Maturity Date
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2027-06-29
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
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us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
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P6Y
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
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us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
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114550 shares
us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
77.30
ENSC Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term Grants
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTermGrants
P7Y7M17D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
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10000 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
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CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
326741 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
59.13
ENSC Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm
P6Y6M25D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
284014 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
62.03
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P6Y1M24D
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
326741 shares
CY2022Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
59.13
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P6Y6M25D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.7661 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.9587 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0152 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0314 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
19.24
CY2022Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
605868 usd
ENSC Sharebased Compensation Arrangement By Sharebased Payment Award Weighted Average Period Expected To Be Recognized
SharebasedCompensationArrangementBySharebasedPaymentAwardWeightedAveragePeriodExpectedToBeRecognized
P1Y5M1D
CY2022Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
2662816 shares

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0001493152-22-032094.txt Edgar Link pending
0001493152-22-032094-xbrl.zip Edgar Link pending
ensc-20220930.xsd Edgar Link pending
ex31-1.htm Edgar Link pending
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form10-q.htm Edgar Link pending
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form10-q_htm.xml Edgar Link completed
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ensc-20220930_cal.xml Edgar Link unprocessable