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Tag: ENVB

  • Enveric Biosciences, Inc. (ENVB) stock surged in the current market; here is why?

    Enveric Biosciences, Inc. (ENVB) gained in the current market after announcing its new patent in a press release. EVNB values at $0.33, gaining more than 18.87% compared to yesterday’s closing price. The stock closed at $0.27 at the end of the last trading session. The stock volume traded in the previous trading session was around 1.83 million shares. The current market cap of the Company is about $14.43 million.

    ENVB new patent

    On Tuesday, Enveric Biosciences stated that it had completed its comprehensive series of PCT applications for tryptamine-based derivative molecules with the filing of its 10th PCT patent application. Enveric Biosciences is working on next-generation psychedelic-inspired treatments for mental health issues, an innovative pharmaceutical firm with a neuroscience emphasis.

    DMT, 5-MeO-DMT, psilocybin, and 5-MeO-DMT are some of the naturally occurring psychedelics that the Company’s extensive tryptamine-derivative intellectual property portfolio claims new compounds structurally linked to. Worldwide researchers are looking at naturally occurring compounds as potential remedies for conditions including depression, anxiety, schizophrenia, OCD, PTSD, eating disorders, pain, autism, and Alzheimer’s.

    ENVB CIO Remarks

    Enveric’s Chief Innovation Officer, Dr. Peter Facchini, said that the Company’s primary emphasis is on developing innovative compounds with superior pharmacological features that are covered by the composition of matter, manufacturing, and method-of-use patent claims. Enveric’s vast intellectual property portfolio allows us to invest in and utilize these medicines’ medicinal potential. Psychiatric and neurologic illnesses are among the most common psychiatric and neurologic problems.

    Conclusion

    Enveric’s psychedelic-inspired chemical portfolio provides worldwide patent protection for potentially millions of innovative therapeutic opportunities. The Company is looking forward to strengthening its position in the relevant industry to gain a competitive edge over its rivals. Enveric Biosciences, Inc. (ENVB) is a pre-revenue coma any and has enough patents to roll out into the market. The last reported quarter had zero revenue but $2.7 million net loss.

  • Enveric Biosciences, Inc. (ENVB) Stock Surged in the Pre Market Session, Here’s What You Should Know

    Enveric Biosciences, Inc. (ENVB) is a patient-centric innovative biopharmaceutical company. The company is engaged in developing next generation mental illness and cancer therapies. The therapeutics include cannabinoid components. Some of the pipeline projects of the include treatment for glioblastoma multiforme, radiodermatitis, rashes and chemotherapy-induced neuropathy.

    The price of ENVB stock at the end of regular trading session of December 15, 2021 was $1.06 with a decline of 6.19%. At last check in the pre market session of December 16, 2021, the stock surged by 7.55%.

    Events and Happenings

    On November 29, 2021, ENVB reported about participation H.C. Wainwright 2nd Annual Psychedelics Virtual Conference on December 6, 2021. Dr. Joseph Tucker, CEO of ENVB, represented the company in the conference.

    On November 18, 2021, ENVB reported about company’s cannabidiol (CBD) derived formulation for topical use, EV102, used for the treatment of radiodermatitis. The formulation showed positive results and significant reduction in dermatitis severity, and skin redness in a preclinical rodent.

    CEO Comments

    While commenting on the positive results showed by EV102, Chief Executive Officer of ENVB Dr. Joseph Tucker told that the formulation when applied topically, resulted in 50% lessening in redness severity. Almost same results were observed for dermatitis severity, which includes ulceration and skin peeling.

    On November 8, 2021, ENVB informed about its inclusion in the new AdvisorShares Psychedelics ETF, trading under the ticker symbol PSIL on the NYSE Arca Exchange. On October 26, 2021, ENVB reported that company’s CEO participated in the Wonderland: Miami conference, held on November 8-9, 2021.

    Key Financials

    On November 3, 2021, ENVB reported third quarter 2021 financials for three months ended September 30, 2021. Some of the main highlights are

    • Total assets of the company were reported to be $69.75 million.
    • Basic and diluted net loss was announced to be$2.7 million or $0.12 per share for Q3 2021, while for the same quarter of 2020, it was $0.57 million or $0.10 per share.

    On October 5, 2021, ENVB informed that PsyAITM –an artificial intelligence designed tool, had successfully identified viable psychedelic molecules for further drug discovery from company’s preliminary shortlisted 500 molecular compounds within its ‘Psybrary’. It will be helpful in treating cancer-related distress, PTSD, and other central nervous system indications.

    Conclusion

    The stock of ENVB is gaining momentum in the pre market session, despite the fact that it declined up to 40% as compared to the past month. The downfall is due to uncertain market conditions. But with the significant gain, the analysts are confidant that the stock may show improved position in the market.

  • Why Enveric Biosciences Inc. (ENVB) performed well on the first day of the week?

    Why Enveric Biosciences Inc. (ENVB) performed well on the first day of the week?

    Enveric Biosciences Inc. (ENVB) shares gained 5.77% in after-hours on Monday, June 28, 2021, and closed the day at $2.75 per share. Earlier in the morning session, ENVB’s stock gained 19.82% to close Monday’s session at $2.60. ENVB shares have fallen 58.33% over the last 12 months, and they have moved up 25.60% in the past week. Over the past three months, the stock has lost 10.65%, while over the past six months, it has plummeted 61.54%.

    Let’s see is there any recent news behind its good performance on Monday?

    9th Emerging Growth Conference

    The 9th Emerging Growth Conference was hosted by EmergingGrowth.com which held on June 9, 2021.

    The Enveric participated in the conference and the chairman and CEO of the company, David Johnson presented the company at the conference.

    The Emerging Growth Conference identifies companies in a wide range of growth sectors, with strong management teams, innovative products & services, focused strategy, execution, and the overall potential for long-term growth.

    Participation in the recent investor conferences

    Enveric Biosciences and MagicMed Industries recently participated at Benzinga Capital Conference which held on Friday, June 4, 2021. The President and CEO of MagicMed, Dr. Joseph Tucker presented the company.

    The company also took part in LD Micro Invitational XI conference which held on June 8, 2021, where it was presented by chairman and CEO of the company, David Johnson.

     

    Acquisition of MagicMed Industries

    On May 24, 2021, Enveric Biosciences entered into a definitive agreement to acquire MagicMed Industries Inc.

    According to the agreement, Dr. Joseph Tucker will be appointed Chief Executive Officer of the Company and David Johnson, current Chief Executive Officer and Chairman will be appointed Executive Chairman.

    Recent financial results announcement

    On May 18, 2021, Enveric Biosciences, Inc announced its financial results for the three months ended March 31, 2021.

    Q1 2021 financial highlights

    • Net cash used in operating activities was $3,162,278during Q1 2021.
    • Total operating expenses were $6,764,997for the quarter ending March 31, 2021, compared to $836,702 for Q1 2020.
    • In Q1 2021 financial activities provided total net cash of $24,881,733.
    • Enveric Biosciences suffered a net loss of $3,250,711 in Q1 2021 compared to $ 1,098,461 in Q1 2020.
    • Net loss per share basic and diluted was $0.20 per share in Q1 2021 compared to $0.19 per share in Q1 2020.

    New Scientific Advisory Board member

    On May 12, 2021, Enveric Biosciences appointed Arash Asher, M.D., Director of Cancer Rehabilitation and Survivorship at the Cedars-Sinai Cancer Center, to the Company’s Scientific Advisory Board.

    Dr Asher holds a physical medicine and rehabilitation residency at the UCLA / West Los Angeles Veterans Affairs program, as well as a cancer rehabilitation fellowship at the MD Anderson Cancer Center. He is board-certified by the American Board of Physical Medicine and Rehabilitation and Hospice and Palliative Medicine.

    Conclusion

    Well, as of this writing, there is no recent news or development behind its good performance on Monday. We hope that ENVB will continue to outperform other companies in the coming days.

  • Why the stock of Enveric Biosciences Inc. (NASDAQ: ENVB) is on the rise today?

    Why the stock of Enveric Biosciences Inc. (NASDAQ: ENVB) is on the rise today?

    Enveric Biosciences Inc. (NASDAQ: ENVB) showed a hike in its stock after the company has acquired a permanent license from Diverse biotech for Novel Molecules. It is the patient’s first biotechnology company that focuses on developing new molecules in order to treat oncology and debilitating diseases and highly tested novel cannabinoid medicines to better the quality of life for cancer patients.

    Recent Development

    The company’s main focus and goal is to help the people who are suffering from cancer by developing new drugs that possess no side effects on the patients. Enveric aims to broaden its pipeline of development candidates that aim to deliver superior therapeutic outcomes for patients by conjugating cannabidiol (CBD) with current, standard-of-care drugs using Diverse Biotech’s proprietary, advanced chemistry drug delivery platform.

    The CEO of Diverse Biotech said that this licensing agreement with Enveric is determined to broaden their CBD conjugate platform into supportive care indications for oncology for the first time ever. The CEO showed his interest and confidence in this agreement to provide better and more efficient therapies for the medical issues which are unrecognized among the large patient population.

    Also following this agreement Enveric will add to the list of target indications of the company through obtaining five molecules, out of which four will be for dermatology purpose and one will focus on pain relief. Alongside this, the agreement will provide access to the company to the scientists and formulators of Diverse Biotech who will help them in synthesizing and validating the drugs while the company runs through pre-clinical and clinical activities. 

    Conclusion

    Enveric Biosciences has a clear goal of facilitating patients suffering from cancer, supportive care needs with their already existing innovative early-stage formulations, and their progress towards their aim is highly appreciable as well as it will gain them the interest of investors.