~Continued funding underscores investor confidence and supports advancement of abuse- and overdose-resistant analgesics~

SAN DIEGO, CA / ACCESS Newswire / April 7, 2026 / Ensysce Biosciences, Inc. (NASDAQ:ENSC) ("Ensysce" or the "Company"), pioneering novel solutions for severe pain with built-in abuse and overdose protection, today announced the closing of a second convertible preferred stock financing of $2 million under prior commitment in November 2025 of up to $20 million funding available over 24 months.

The capital will maintain Ensysce's flagship analgesic programs, while supporting general corporate initiatives. The current $2 million tranche includes a fixed conversion price of $0.55 per share, with an alternate conversion price based upon average common stock prices prior to conversion. The financing includes 100% warrant coverage with an 18-month term and an additional 100% warrant coverage with a five-year term, each exercisable at the fixed conversion price, subject to adjustment.

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