Ensysce Biosciences Faces Nasdaq Delisting Warning
Ticker: ENSCW · Form: 8-K · Filed: Aug 23, 2024 · CIK: 1716947
| Field | Detail |
|---|---|
| Company | Ensysce Biosciences, INC. (ENSCW) |
| Form Type | 8-K |
| Filed Date | Aug 23, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001, $2.5 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: listing-rule-violation, nasdaq, compliance
TL;DR
Nasdaq's warning Ensysce Biosciences: 180 days to fix it or get booted.
AI Summary
Ensysce Biosciences, Inc. announced on August 23, 2024, that it received a notice from The Nasdaq Stock Market on August 20, 2024, indicating non-compliance with listing rules. The company has 180 days to regain compliance, with a potential extension if certain conditions are met.
Why It Matters
This notice could impact the company's ability to trade on Nasdaq, potentially affecting its stock liquidity and investor confidence.
Risk Assessment
Risk Level: medium — Receiving a delisting notice introduces significant uncertainty and potential negative consequences for the company's stock.
Key Numbers
- 180 days — Compliance Period (Timeframe to regain Nasdaq listing compliance)
Key Players & Entities
- Ensysce Biosciences, Inc. (company) — Registrant
- Nasdaq Stock Market (company) — Listing Exchange
- August 23, 2024 (date) — Report Date
- August 20, 2024 (date) — Notice Date
FAQ
What specific Nasdaq listing rule(s) did Ensysce Biosciences fail to meet?
The filing states that Ensysce Biosciences received a notice indicating non-compliance with Nasdaq's listing rules, but does not specify which particular rules were violated.
What is the deadline for Ensysce Biosciences to regain compliance with Nasdaq's listing standards?
Ensysce Biosciences has 180 calendar days from the date of the notice (August 20, 2024) to regain compliance.
Are there any conditions under which the compliance period could be extended?
Yes, the filing mentions that the company may be granted an additional compliance period if it meets certain requirements, though these are not detailed in this specific filing.
What actions is Ensysce Biosciences planning to take to address the non-compliance?
The filing does not detail specific actions Ensysce Biosciences plans to take, only that it intends to regain compliance.
What is the significance of the former company name 'Leisure Acquisition Corp.'?
Ensysce Biosciences, Inc. was formerly known as Leisure Acquisition Corp. until a name change on September 13, 2017.
Filing Stats: 492 words · 2 min read · ~2 pages · Grade level 13.5 · Accepted 2024-08-23 16:30:33
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share ENSC The Nasdaq Stock Mar
- $2.5 million — o the Company's non-compliance with the $2.5 million stockholders' equity requirement set fo
Filing Documents
- form8-k.htm (8-K) — 36KB
- 0001493152-24-033731.txt ( ) — 205KB
- ensc-20240823.xsd (EX-101.SCH) — 3KB
- ensc-20240823_lab.xml (EX-101.LAB) — 33KB
- ensc-20240823_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: August 23, 2024 Ensysce Biosciences, Inc. By: /s/ Lynn Kirkpatrick Name: Dr. Lynn Kirkpatrick Title: President and Chief Executive Officer 3