Ensysce Biosciences, Inc. is a clinical-stage pharmaceutical company focused on developing abuse-resistant opioid prodrugs using innovative enzyme-activated TAAP and MPAR® technologies. The firm has advanced its lead candidate PF614 through Phase 1 trials and initiated a pivotal Phase 3 study in mid-2025, supported by FDA Breakthrough Therapy designation. Despite technological promise, Ensysce remains pre-revenue with ongoing operating losses and liquidity concerns that cast doubt on its going concern status. The company’s future growth hinges on successful clinical outcomes, regulatory approvals, and financing availability.