The company's financial stability is severely compromised, evidenced by a negative equity position of $340.0K and a current ratio of 0.71 as of 2026Q1.
| Total Current Assets | 2.01M | 7.24T | 5.34M | 2.29M | 5.3M | 15.66M | 347.88K | 618.59K | 1.92M | 2.31M |
| Cash & Short-Term Investments | 745.48K | 3.5M | 3.5M | 1.12M | 3.15M | 12.26M | 194.21K | 341.54K | 1.66M | 2.09M |
| Cash Only | 745.48K | 3.5M | 3.5M | 1.12M | 3.15M | 12.26M | 194.21K | 341.54K | 1.66M | 2.09M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 420.35K | 124.11K | 97.56K | 276.82K | 441.72K | 0 | 173.55K | 170.53K | 0 |
| Days Sales Outstanding | 52.63 | 30.28 | 8.7 | 15.96 | 40.04 | 45.66 | - | 35.91 | - | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | -441.72K | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 1.26M | 2.93T | 18K | 18K | 1.33M | 2.59M | 23.54K | 68.81K | 0 | 0 |
| Total Non-Current Assets | 159.26K | 210.01B | 252.55K | 419.22K | 585.88K | 754.76K | 3.93K | 5.35K | 202.92M | 200.12M |
| Property, Plant & Equipment | 117.6K | 124.13B | 0 | 0 | 0 | 24.72B | 151 | 351 | 0 | 0 |
| Fixed Asset Turnover | 25.05x | 0.00x | - | - | - | 0.00x | 26034.50x | 5025.53x | - | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 202.92M | 200.12M |
| Other Non-Current Assets | 41.67K | 85.88B | 252.55K | 419.22K | 585.88K | -24.72B | 3.78K | 5K | 0 | 0 |
| Total Assets | 2.17M | 7.45T | 5.6M | 2.71M | 5.89M | 16.42M | 351.81K | 623.94K | 204.83M | 202.43M |
| Asset Turnover | 0.62x | 0.00x | 0.93x | 0.82x | 0.43x | 0.22x | 11.17x | 2.83x | - | - |
| Asset Growth % | 13.43% | 99999900% | 106.69% | -53.98% | -64.15% | 4566.58% | -43.62% | -99.7% | 1.19% | - |
| Total Current Liabilities | 2.84M | 4.57T | 2.21M | 3.33M | 9.46M | 16.48M | 7.01M | 7.3M | 437.89K | 156.24K |
| Accounts Payable | 1.61M | 3.27M | 1.36M | 1.94M | 2.94M | 301.1K | 1.72M | 540.78K | 0 | 0 |
| Days Payables Outstanding | 119.26 | - | 68.62 | 93.14 | 54.17 | 727.83K | 1000K | 58.01 | - | - |
| Short-Term Debt | 245.85K | 306.71B | 301.66K | 854.7K | 4.27M | 12.75M | 4.25M | 2.62M | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 159.05K | 0 | 0 | 0 |
| Other Current Liabilities | 980.78K | 4.26T | 0 | 0 | 0 | 0 | 670.26K | 2.93M | 437.89K | 152.6K |
| Current Ratio | 0.71x | 1.59x | 2.42x | 0.69x | 0.56x | 0.95x | 0.05x | 0.08x | 4.38x | 14.77x |
| Quick Ratio | 0.71x | 1.59x | 2.42x | 0.69x | 0.56x | 0.98x | 0.05x | 0.08x | 4.38x | 14.77x |
| Cash Conversion Cycle | -66.63 | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 10.1K | 26.39K | 450.49K | 8.09M | 6.75M | 0 | 7M | 7M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 140.15K | 4.44M | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.76K | 0 |
| Other Non-Current Liabilities | 0 | 0 | 10.1K | 26.39K | 310.35K | 3.65M | 0 | 0 | 0 | 0 |
| Total Liabilities | 2.84M | 4.57T | 2.22M | 3.36M | 9.91M | 24.58M | 7.01M | 7.3M | 7.44M | 7.16M |
| Total Debt | 245.85K | 301.66K | 301.66K | 854.7K | 4.43M | 17.21M | 4.27M | 2.62M | 0 | 0 |
| Net Debt | -499.63K | -3.2M | -3.2M | -268.91K | 1.29M | 4.95M | 4.08M | 2.28M | -1.66M | -2.09M |
| Debt / Equity | -0.37x | 0.00x | 0.09x | - | - | - | - | - | - | - |
| Debt / EBITDA | -0.04x | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.08x | - | - | - | - | - | - | - | -0.62x | - |
| Interest Coverage | -626.43x | -541.24x | -5.22x | -30.28x | -221.16x | -20.02x | 0.84x | - | - | - |
| Total Equity | -669.01K | 2.88T | 3.38M | -651.27K | -4.03M | -8.16M | -6.66M | -6.68M | 197.39M | 195.27M |
| Equity Growth % | -119.08% | 85349073.46% | 618.98% | 83.84% | 50.61% | -22.52% | 0.27% | -103.38% | 1.09% | - |
| Book Value per Share | -0.10 | 112800.11 | 1.93 | -0.29 | -22.40 | -97.10 | -1.05 | -1.10 | 32.87 | 32.63 |
| Total Shareholders' Equity | -340.04K | 3.21T | 3.71M | -322.86K | -3.71M | -7.88M | -6.44M | -6.68M | 197.39M | 195.27M |
| Common Stock | 929 | 459M | 136 | 315 | 53 | 124 | 1.58K | 5.99K | 604 | 673 |
| Retained Earnings | -143.28M | -139.72T | -129.54M | -121.56M | -110.93M | -85.85M | -55.96M | -56.02M | 2.09M | -31.19K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -604 | -673 |
| Minority Interest | -328.97K | -328.97B | -328.48K | -328.41K | -315.21K | -279.81K | -217.63K | 0 | 0 | 0 |
Imminent liquidity and dilution
As reported in recent financial statements, Ensysce Biosciences' total assets have contracted significantly to $2.2 million in 2026Q1, while the company's equity position has slipped into negative territory, signaling a precarious trajectory that leaves little room for operational error or further clinical delays.
The consistent erosion of the equity base suggests that the company is consuming its net worth to fund ongoing R&D activities. This trend indicates that the business model remains highly fragile and dependent on external capital injections to maintain even basic operational continuity.
Based on the most recent quarterly filings, the company's current ratio has plummeted to 0.71, indicating that current liabilities now exceed current assets and leaving the firm with a severely limited cash runway to support its ongoing Phase III clinical trial requirements.
A current ratio below unity suggests that the company may struggle to meet its short-term obligations without immediate financing. Investors should monitor the cash balance closely, as the current liquidity profile appears insufficient to sustain the burn rate required for late-stage regulatory milestones.
According to historical balance sheet data, the company's retained earnings have deepened to a deficit of $143.3 million, reflecting persistent operational losses that have effectively wiped out shareholder equity and necessitated frequent reliance on dilutive financing instruments to keep the business afloat.
The negative equity position serves as a stark indicator of the value destruction inherent in the current pre-commercial model. This structure implies that any future capital raises will likely result in significant dilution for existing shareholders, as the company lacks a self-sustaining earnings base.
As indicated by the 2025Q4 data, the company's reported debt figures exhibit extreme volatility, with a sudden spike to $306.7 billion that appears to be a reporting anomaly or a massive, non-standard liability, warranting extreme caution regarding the accuracy of the firm's reported leverage metrics.
Such erratic fluctuations in debt reporting suggest that the balance sheet may be subject to significant distortions from convertible instruments or complex financing arrangements. Analysts should treat these headline leverage figures with skepticism, as they likely obscure the true nature of the company's debt obligations.
Quick answers to the most common questions about buying ENSC stock.
As of 2025, Ensysce Biosciences, Inc. (ENSC) had total assets of $7.45T including $7.24T in current assets.
Ensysce Biosciences, Inc. (ENSC) carries total debt of $0.3M, offset by $3.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Ensysce Biosciences, Inc. (ENSC) has total shareholders' equity (book value) of $3.21T ($112800.11 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Ensysce Biosciences, Inc. (ENSC) reported a current ratio of 1.59x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.