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Tag: Enveric Biosciences

  • Enveric Biosciences (ENVB) Stock Gains Momentum In Pre-Hour Trading

    Enveric Biosciences (ENVB) Stock Gains Momentum In Pre-Hour Trading

    The stock value of Enveric Biosciences, Inc. (NASDAQ: ENVB) has significantly increased after the company announced the issue of a ground-breaking patent for its novel chemical series. ENVB’s stock rose 156.78% to $3.03 per share as of the most recent premarket session.

    Patent Issuance

    A significant milestone for the business was reached on January 14, 2025, when Enveric Biosciences received U.S. Patent No. 12,195,439 from the USPTO. Its recently created EVM401 Series is covered under the patent, “Cl-Substituted Isopropylamine Fused Heterocyclic Mescaline Derivatives.”

    The fact that this landmark patent is the first to be granted for the EVM401 series shows how dedicated Enveric is to developing its line of non-hallucinogenic drugs to treat difficult mental and neurological disorders.

    The EVM401 Series’s Potential for Innovation

    Enveric’s pipeline will be expanded with the EVM401 Series, which will bring novel non-hallucinogenic compounds that may be crucial in the treatment of addiction and neuropsychiatric conditions. Promising evidence from early research suggests that these mescaline derivative chemicals may have therapeutic uses since they show unique patterns of brain receptor activation.

    The substances exhibit interactions with a number of important neurological receptors, such as the dopamine transporter (DAT), the 5-HT2C receptor, and the α2A adrenergic receptor (ADRA2A).

    Treatment Consequences for Neuropsychiatric Conditions

    New treatment options for drug use disorders, anxiety, depression, ADHD, and opioid withdrawal may be provided by the chemicals of the EVM401 Series. Notably, the 5-HT2C receptor is becoming a crucial target in the treatment of neuropsychiatric disorders, whereas the ADRA2A receptor is well-known for its function in controlling the symptoms of opioid withdrawal.

    Strategic Development Pipeline Expansion for Enveric

    Enveric Biosciences is concentrating on getting ready for the Investigational New Drug (IND) application for EB-003 in accordance with its strategic direction. The company’s attempts to increase its pipeline and obtain more patents demonstrate its dedication to diversifying its medicinal solutions.

    Additionally, to further expand the company’s portfolio, Enveric’s wholly-owned subsidiary Akos Biosciences has signed two licensing agreements with Restoration Biologics LLC with the goal of developing cannabinoid-COX-2 conjugate medicines for the treatment of joint diseases.

  • Enveric (ENVB) Stock Rockets Up 130% On Heels Of Key Licensing Agreement

    Enveric (ENVB) Stock Rockets Up 130% On Heels Of Key Licensing Agreement

    Enveric Biosciences, Inc (NASDAQ: ENVB) stock is witnessing a remarkable surge in its market valuation today, with an impressive ascent of 133.75% to $1.94 observed in the latest market session. This notable upswing in Enveric’s stock price coincides with the announcement of a strategic licensing agreement.

    Enveric (ENVB) today inked three preliminary agreements with an undisclosed biotechnology firm, marking the initiation of negotiations for the out-licensing of three distinct categories of compounds. These compounds originate from Enveric’s extensive reservoir comprising over 1,000 innovative molecules, crafted through the utilization of the Company’s Psybrary platform and its proprietary computational chemistry and artificial intelligence (AI) drug discovery system (PsyAI).

    The terms outlined in the three agreements entail that the undisclosed licensee would secure exclusive, royalty-bearing global licenses for the development and sublicensing of the assets. Additionally, the agreements entail cash buyout options and prospective option rights concerning closely associated assets within Enveric’s portfolio.

    The licensee would shoulder the responsibility for all forthcoming preclinical and clinical developmental phases pertaining to pharmaceutical applications for both human and/or animal usage. Moreover, Enveric stands to potentially receive significant remunerations, including development and sales milestone payments and execution fees, amounting to a cumulative total of $200 million, subject to specific conditions.

    These conditions encompass the approval of investigational new drug (IND) applications and the completion of Phases I through III testing for the licensed products. Royalty rates, ranging from 2.5% to 10% on future sales, are contingent upon meeting predefined sales benchmarks.

    The compound classes covered under these agreements are derived from two of the seven portfolios of preclinical molecules recently unveiled by Enveric, with numerous other molecules and classes remaining open for further out-licensing opportunities.

    The plight of patients grappling with severe mental health conditions has persistently suffered from a lack of meaningful innovation. Enveric is poised with enthusiasm to advance several of the novel compounds engendered through its drug discovery engine.

  • 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.

  • 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.