2023 Q4 Form 10-Q Financial Statement

#000149315223040091 Filed on November 09, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3 2022 Q3
Revenue $515.0K $435.4K $279.4K
YoY Change -64.07% 55.85% -76.74%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.438M $1.230M $1.687M
YoY Change 20.6% -27.07% -89.7%
% of Gross Profit
Research & Development $2.233M $1.915M $4.756M
YoY Change -65.34% -59.74% 177.38%
% of Gross Profit
Depreciation & Amortization $0.00
YoY Change -100.0%
% of Gross Profit
Operating Expenses $3.671M $3.143M $6.443M
YoY Change -51.92% -51.22% -64.38%
Operating Profit -$2.707M -$6.163M
YoY Change -56.07% -63.5%
Interest Expense -$344.8K $7.649K $4.859K
YoY Change 564.87% 57.42% -100.36%
% of Operating Profit
Other Income/Expense, Net -$3.880K $16.51K -$3.692M
YoY Change -100.52% -100.45% -455.78%
Pretax Income -$3.504M -$2.690M -$9.856M
YoY Change -36.03% -72.71% -42.7%
Income Tax
% Of Pretax Income
Net Earnings -$3.504M -$2.691M -$9.856M
YoY Change -36.54% -72.7% -42.58%
Net Earnings / Revenue -680.41% -618.04% -3528.02%
Basic Earnings Per Share -$0.87 -$5.13
Diluted Earnings Per Share -$1.34 -$0.87 -$5.099M
COMMON SHARES
Basic Shares Outstanding 3.146M shares 2.864M shares 37.32M shares
Diluted Shares Outstanding 3.086M shares 160.7K shares

Balance Sheet

Concept 2023 Q4 2023 Q3 2022 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.124M $1.500M $4.503M
YoY Change -64.3% -66.69% -34.22%
Cash & Equivalents $1.124M $1.464M $4.503M
Short-Term Investments
Other Short-Term Assets $1.068M $8.000K $3.018M
YoY Change -43.05% -99.73% 51.77%
Inventory
Prepaid Expenses $1.068M $1.183M $2.983M
Receivables $97.56K $100.0K $140.8K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $2.289M $2.758M $7.662M
YoY Change -56.81% -64.01% -14.11%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $419.2K $460.9K $627.6K
YoY Change -28.45% -26.56% -21.2%
Total Long-Term Assets $419.2K $460.9K $627.6K
YoY Change -28.45% -26.56% -21.2%
TOTAL ASSETS
Total Short-Term Assets $2.289M $2.758M $7.662M
Total Long-Term Assets $419.2K $460.9K $627.6K
Total Assets $2.708M $3.219M $8.290M
YoY Change -53.98% -61.17% -14.69%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.936M $916.4K $1.286M
YoY Change -34.23% -28.71% 172.44%
Accrued Expenses $542.3K $800.0K $2.272M
YoY Change -75.94% -64.78% -39.62%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $854.7K $400.0K $7.553M
YoY Change -79.97% -94.7% 170.01%
Total Short-Term Liabilities $3.333M $2.031M $11.91M
YoY Change -64.78% -82.95% 69.38%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $1.387M
YoY Change -100.0% -100.0% -34.41%
Other Long-Term Liabilities $26.39K $0.00 $1.415M
YoY Change -91.5% -100.0% 47.82%
Total Long-Term Liabilities $26.39K $30.47K $2.802M
YoY Change -94.14% -98.91% -8.78%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.333M $2.031M $11.91M
Total Long-Term Liabilities $26.39K $30.47K $2.802M
Total Liabilities $3.031M $2.061M $14.71M
YoY Change -69.43% -85.99% 49.76%
SHAREHOLDERS EQUITY
Retained Earnings -$121.6M -$118.1M -$105.4M
YoY Change 9.61% 12.0%
Common Stock $315.00 $287.00 $221.00
YoY Change -50.93% 29.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$322.9K $1.485M -$6.094M
YoY Change
Total Liabilities & Shareholders Equity $2.708M $3.219M $8.290M
YoY Change -53.98% -61.17% -14.69%

Cashflow Statement

Concept 2023 Q4 2023 Q3 2022 Q3
OPERATING ACTIVITIES
Net Income -$3.504M -$2.691M -$9.856M
YoY Change -36.54% -72.7% -42.58%
Depreciation, Depletion And Amortization $0.00
YoY Change -100.0%
Cash From Operating Activities -$1.802M -$2.260M -$6.714M
YoY Change -45.33% -66.34% 75.54%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $0.00
YoY Change
Cash From Investing Activities $0.00 $0.00 $0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.461M -110.0K 7.483M
YoY Change -24.7% -101.47% 181.43%
NET CHANGE
Cash From Operating Activities -1.802M -2.260M -6.714M
Cash From Investing Activities 0.000 0.000 0.000
Cash From Financing Activities 1.461M -110.0K 7.483M
Net Change In Cash -340.8K -2.370M 768.4K
YoY Change -74.86% -408.42% -165.9%
FREE CASH FLOW
Cash From Operating Activities -$1.802M -$2.260M -$6.714M
Capital Expenditures
Free Cash Flow
YoY Change

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us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2023Q3 us-gaap Profit Loss
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us-gaap Profit Loss
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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us-gaap Profit Loss
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CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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CY2023Q3 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
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us-gaap Profit Loss
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us-gaap Profit Loss
ProfitLoss
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us-gaap Increase Decrease In Interest Payable Net
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ENSC Change In Fair Value Of Liabilities Classified Warrants
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ENSC Change In Fair Value Of Liabilities Classified Warrants
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ENSC Loss On Issuance Of Convertible Notes
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us-gaap Share Based Compensation
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us-gaap Provision For Loan Lease And Other Losses
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us-gaap Increase Decrease In Prepaid Expenses Other
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us-gaap Increase Decrease In Accounts Payable
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us-gaap Increase Decrease In Other Accrued Liabilities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Operating Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Convertible Debt
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4503081 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1600 usd
ENSC Stockbased Compensation
StockbasedCompensation
1742478 usd
ENSC Conversions Of Convertible Notes Into Common Stock
ConversionsOfConvertibleNotesIntoCommonStock
3056892 usd
ENSC Conversions Of Convertible Notes Into Common Stock
ConversionsOfConvertibleNotesIntoCommonStock
13879535 usd
ENSC Payable To Related Parties
PayableToRelatedParties
800000 usd
ENSC Proceeds From Financed Insurance Premiums Net
ProceedsFromFinancedInsurancePremiumsNet
445737 usd
ENSC Proceeds From Financed Insurance Premiums Net
ProceedsFromFinancedInsurancePremiumsNet
399949 usd
ENSC Settlement Of Commitment Fee In Shares
SettlementOfCommitmentFeeInShares
400000 usd
ENSC Deemed Dividend Related To Warrants Down Round Provision
DeemedDividendRelatedToWarrantsDownRoundProvision
12038 usd
ENSC Deemed Dividend Related To Warrants Down Round Provision
DeemedDividendRelatedToWarrantsDownRoundProvision
881598 usd
us-gaap Basis Of Accounting
BasisOfAccounting
<p id="xdx_803_eus-gaap--BasisOfAccounting_zKfvdJk1Bi7c" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE 2 - <span id="xdx_828_ztixzuUCDIL1">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><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-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><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 these unaudited consolidated financial statements. Operating results for the three and nine months ended September 30, 2023, are not necessarily indicative of the results that may be expected for the year ending December 31, 2023. 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, 2022, which may be found in the Company’s Form 10-K filed with the SEC on March 30, 2023.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i>Reverse stock split</i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In March 2023, the Company completed a <span id="xdx_90E_eus-gaap--StockholdersEquityReverseStockSplit_c20230301__20230331_zGFGeUTQiyw7" title="Reverse stock split">1-for-12 reverse split</span> of its outstanding common stock. All references in these unaudited consolidated financial statements to shares and per share amounts in all periods have been retroactively restated to reflect the split. The number of authorized shares and the par value of the shares did not change as a result of the reverse stock split.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><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-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The accompanying unaudited 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-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><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_dixL_c20230930_zL31S0VLpO4i" title="Accumulated deficit::XDX::118052779"><span style="-sec-ix-hidden: xdx2ixbrl0704">118.0</span></span> million at September 30, 2023. 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-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><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_909_eus-gaap--CommonStockSharesSubscriptions_iI_pn5n6_c20201231_zqOd1I8Kh8rd" 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_z5e2vST3R2ij" title="Warrants issued shares">4,608</span> warrants with a three-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_zqlmw5fneI0e" title="Warrant, exercise price">2,402.40</span> per share (Note 8). The Company was 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_zC824KjO1Is9" 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_z57Ot8iYFsTa" title="Commitment fees">0.8</span> million 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_zGpmUNLflhOe" title="Commitment fees">0.4</span> million 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_zsSEVx82ryt1" title="Commitment fees">0.8</span> million of the commitment fee was paid in July 2022 in common stock of the Company and the remaining $<span id="xdx_90B_eus-gaap--DebtRelatedCommitmentFeesAndDebtIssuanceCosts_pn5n6_c20220701__20220731__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember__us-gaap--AwardDateAxis__custom--JanuaryTwentyTwentyThreeMember_zNCkSExNDo6k" title="Commitment fees">0.4</span> million was paid in January 2023 in common stock of the Company. Usage of the GEM facility is limited by other agreements of the Company. The Company has not raised any capital to date pursuant to the GEM facility and may not raise any capital pursuant to it prior to its expiration.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-right: 0pt; margin-bottom: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">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-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These unaudited 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-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q1 us-gaap Stockholders Equity Reverse Stock Split
StockholdersEquityReverseStockSplit
1-for-12 reverse split
CY2020Q4 us-gaap Common Stock Shares Subscriptions
CommonStockSharesSubscriptions
60000000.0 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84F_eus-gaap--UseOfEstimates_zDToWo14YLB3" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86A_zfl5xvhBWRRh">Use of estimates and assumptions</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><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 accrued research and development services, the valuation allowance of deferred tax assets resulting from net operating losses, and the fair value of warrants and options to purchase the Company’s common stock and convertible notes payable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q2 us-gaap Grants Receivable
GrantsReceivable
10700000 usd
CY2019Q3 us-gaap Grants Receivable
GrantsReceivable
5400000 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84E_eus-gaap--ConcentrationRiskCreditRisk_z15mIssAzIn9" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><i><span id="xdx_86F_zVW04lTTvGF4">Concentrations of credit risk and off-balance sheet risk</span></i></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><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 currently exceed federally insured limits. 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-top: 0pt; text-align: justify; margin-right: 0pt; margin-bottom: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2023Q3 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
30473 usd
CY2023Q3 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
30473 usd
CY2023Q3 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
30473 usd
CY2022Q4 us-gaap Convertible Debt Fair Value Disclosures
ConvertibleDebtFairValueDisclosures
4203579 usd
CY2022Q4 us-gaap Financial Liabilities Fair Value Disclosure
FinancialLiabilitiesFairValueDisclosure
310346 usd
CY2022Q4 us-gaap Fair Value Net Asset Liability
FairValueNetAssetLiability
4513925 usd
CY2022Q4 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
4513925 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
-3056892 usd
ENSC Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Cash Payments
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityCashPayments
-415351 usd
ENSC Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Cash Trueup Liability
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityCashTrueupLiability
-584857 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
-426352 usd
CY2023Q3 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
30473 usd
CY2018Q3 us-gaap Grants Receivable
GrantsReceivable
5400000 usd
CY2019Q3 us-gaap Grants Receivable
GrantsReceivable
5100000 usd
CY2023Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
435380 usd
CY2022Q3 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
279351 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1715488 usd
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
1089920 usd
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4737653 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
389345 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2902797 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
208220 shares
CY2023Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4737653 shares
CY2022Q3 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
389345 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2902797 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
208220 shares
CY2023Q3 ENSC Prepaid Research And Development
PrepaidResearchAndDevelopment
581985 usd
CY2022Q4 ENSC Prepaid Research And Development
PrepaidResearchAndDevelopment
1300473 usd
CY2023Q3 us-gaap Prepaid Insurance
PrepaidInsurance
547776 usd
CY2022Q4 us-gaap Prepaid Insurance
PrepaidInsurance
445583 usd
CY2023Q3 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
45206 usd
CY2022Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
101425 usd
CY2023Q3 us-gaap Other Assets Current
OtherAssetsCurrent
8000 usd
CY2023Q3 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1182967 usd
CY2022Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
1847481 usd
CY2023Q3 ENSC Accrued Research And Development
AccruedResearchAndDevelopment
500197 usd
CY2022Q4 ENSC Accrued Research And Development
AccruedResearchAndDevelopment
1332713 usd
CY2022Q4 ENSC Share Subscription Facility Commitments Fees
ShareSubscriptionFacilityCommitmentsFees
400000 usd
CY2023Q3 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
164100 usd
CY2022Q4 us-gaap Accrued Professional Fees Current And Noncurrent
AccruedProfessionalFeesCurrentAndNoncurrent
421530 usd
CY2023Q3 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
96161 usd
CY2022Q4 us-gaap Other Accrued Liabilities Current And Noncurrent
OtherAccruedLiabilitiesCurrentAndNoncurrent
72251 usd
CY2023Q3 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
760458 usd
CY2022Q4 us-gaap Accrued Liabilities And Other Liabilities
AccruedLiabilitiesAndOtherLiabilities
2226494 usd
CY2023Q3 us-gaap Contractual Obligation
ContractualObligation
17800000 usd
us-gaap Operating Lease Payments
OperatingLeasePayments
2732 usd
CY2023Q3 us-gaap Payments For Rent
PaymentsForRent
8375 usd
us-gaap Payments For Rent
PaymentsForRent
25124 usd
CY2022Q3 us-gaap Payments For Rent
PaymentsForRent
7939 usd
us-gaap Payments For Rent
PaymentsForRent
23606 usd
CY2023Q3 us-gaap Notes Payable
NotesPayable
350932 usd
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
4100537 usd
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
18450 usd
CY2022Q4 us-gaap Debt Instrument Fair Value
DebtInstrumentFairValue
287771 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
4406758 usd
CY2023Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
7649 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
9146 usd
CY2022Q3 us-gaap Interest Expense Debt
InterestExpenseDebt
4859 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
6864 usd
CY2023Q3 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.08 pure
CY2023Q1 us-gaap Notes Payable
NotesPayable
600000 usd
CY2023Q2 us-gaap Notes Payable
NotesPayable
600000 usd
CY2023Q2 ENSC Financed Insurance Premiums
FinancedInsurancePremiums
400000 usd
CY2022 ENSC Financed Insurance Premiums
FinancedInsurancePremiums
400000 usd
CY2021Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
150000000 shares
CY2021Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
1500000 shares
CY2021Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2022Q3 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2023Q3 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2023Q3 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2022Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q1 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
297619 shares
CY2023Q1 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q1 ENSC Combined Offering Price Per Share
CombinedOfferingPricePerShare
10.08
CY2023Q1 us-gaap Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
3000000.0 usd
CY2023Q1 us-gaap Other Expenses
OtherExpenses
300000 usd
CY2023Q2 us-gaap Sale Of Stock Number Of Shares Issued In Transaction
SaleOfStockNumberOfSharesIssuedInTransaction
1800876 shares
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2023Q2 ENSC Combined Offering Price Per Share
CombinedOfferingPricePerShare
3.887
CY2023Q2 us-gaap Sale Of Stock Consideration Received Per Transaction
SaleOfStockConsiderationReceivedPerTransaction
7000000.0 usd
CY2023Q2 us-gaap Other Expenses
OtherExpenses
700000 usd
CY2023Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
210085 shares
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.64
CY2021Q2 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
78751 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Unissued
ClassOfWarrantOrRightUnissued
7782 shares
CY2023Q3 us-gaap Class Of Warrant Or Right Unissued
ClassOfWarrantOrRightUnissued
7310 shares
CY2021Q2 ENSC Warrants Expiration Date
WarrantsExpirationDate
2026-06-30
CY2021Q2 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2021Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
4608 shares
CY2023Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.64
CY2021Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
1504 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
3008 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1831.20
CY2021Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
1831.20
CY2021Q4 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2026-09-23
CY2021Q3 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2026-09-23
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.64
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
19447 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Number Of Securities Called By Warrants Or Rights
ClassOfWarrantOrRightNumberOfSecuritiesCalledByWarrantsOrRights
19447 shares
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
170.04
CY2022Q3 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
170.04
CY2022Q3 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2027-06-29
CY2022Q3 us-gaap Warrants And Rights Outstanding Maturity Date
WarrantsAndRightsOutstandingMaturityDate
2027-08-08
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.64
CY2023Q2 us-gaap Class Of Warrant Or Right Exercise Price Of Warrants Or Rights1
ClassOfWarrantOrRightExercisePriceOfWarrantsOrRights1
3.64
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26334 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
707.63
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P6Y6M10D
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
20 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
770.40
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
26314 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
707.59
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P4Y8M26D
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
24505 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
722.84
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
26314 shares
CY2023Q3 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageExercisePrice
707.59
us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Vested And Expected To Vest Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsVestedAndExpectedToVestExercisableWeightedAverageRemainingContractualTerm1
P4Y8M26D
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
0.0000 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
CY2023Q3 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
163754 usd
ENSC Sharebased Compensation Arrangement By Sharebased Payment Award Weighted Average Period Expected To Be Recognized
SharebasedCompensationArrangementBySharebasedPaymentAwardWeightedAveragePeriodExpectedToBeRecognized
P1Y3M25D
CY2023Q3 us-gaap Common Stock Capital Shares Reserved For Future Issuance
CommonStockCapitalSharesReservedForFutureIssuance
5573485 shares

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